25 Results from 2017, /wholesale
Retired Member
So, MiFID I, you turn 10 today. Happy Birthday! That’s an excellent reason to pause and celebrate a little. When you first arrived markets were dominated by national stock exchanges with little or no pan-European focus, trading was mostly manual, and smart order routing and best execution were foreign terms from across the pond. You’ve certainly l...
01 November 2017 /regulation /wholesale MiFID
Background 11.5 million documents, a staggering number, were leaked from Panamanian law firm ‘Mossack Fonseca’ in 2015. The contents of these documents, mostly financial information about wealthy individuals and public figures wound up revealing some fascinating facts. These facts led to investigators realizing that illegal operations were occurri...
17 October 2017 /regulation /wholesale Financial Services Regulation
Recording the execution decision maker is a new requirement under MiFID II. Working out how to populate that field turns out to be trickier than expected. Take a buy-side that gives strict execution instructions on how to execute its agency care order. On the one hand, you could argue that the sell-side made no decisions and therefore records NORE ...
17 October 2017 /regulation /wholesale MiFID
Bob Lyddon Consultant at Lyddon Consulting Services
In June Banco Popular Espanol (“BPE”) was sold to Santander for €1, with Santander taking over all the assets and senior liabilities of BPE. Crucially BPE depositors with over €100,000 in their accounts were not bailed-in – they did not have the excess converted into “capital-like instruments” in the recovering/resolved bank. The holders of share ...
19 September 2017 /wholesale Financial Services Regulation
Shyam Khandelwal Business Analyst at HSBC
Background The other day I was shopping on Amazon and Flipkart online. I chose a mobile to buy and on the same page, another section came up which had information displayed for a mobile cover and a screen protector for that mobile. The site also created a combo deal of all 3 items (mobile, cover and protector) and gave the total amount which needs...
05 September 2017 /retail /wholesale Futuristic Banking
Market participants are naturally worried about the immediate costs of regulation, some of them still uncertain about the future benefits. But with all the twists and turns on the road to regulatory change, meeting the requirements imposed by regulators is no easy task. Whatever the legislation, the politicians agree on the broad principles and se...
28 June 2017 /regulation /wholesale
Introduction Know Your Customer (KYC) processes require banks to validate and verify primary documents as part of due diligence. Currently the market is flooded with KYC utilities that help manage these documents and share them with multiple entities. In some cases these utilities may even perform due diligence, but regulations are such that the t...
30 March 2017 /wholesale Innovation in Financial Services
Enrico Camerinelli Supply Chain Blockchain Personal Coach at Aite Group
Although banks may appear slow to react and less agile than emerging fintech companies, banks remain their corporate clients’ main point of reference for technology innovation and inclusion. Even many leading corporations don’t want to be the pioneers in something that is not part of their core business and keep a wait-and-see attitude toward fint...
22 February 2017 /wholesale Transaction Banking
Implementing pan-European financial regulation is no easy feat. Finding agreement across 28 member states and translation into vastly differently legal systems is a true challenge. It comes as no surprise that those projects are regularly subject to delays. Against that backdrop, it is most welcome that ESMA is again requesting the power to issue a...
15 February 2017 /regulation /wholesale
David Donovan Executive Vice President at Publicis.Sapient
The year is shaping up to be one where my dialog with leadership within large financial institutions shifts from “I want to do digital” to “Show me how digital helps me become more competitive.” Digital has become table stakes and the asset management industry is now focused on how components within digital, such as data analytics, cloud or mobile,...
14 February 2017 /wholesale Capital Markets Technology
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