Cordium, SIX Swiss Exchange and LSEG’s UnaVista also have FinTech news.
Mizhuo Americas Expands Equities Platform
Mizuho Americas, part of Mizuho Financial Group, reports that it will be adding to the equity offerings of its securities division via the establishment of program trading and electronic trading.
In fact, Mizuho officials have appointed George Nikitiadis as the managing director, head of program trading, and Lindsey Burik as executive director, head of electronic trading. The program and electronic trading will be part of a platform that offers a range of origination, sales, trading, research and strategy support in fixed income, equities and futures across the Americas, Europe and Asia, officials add.
“Adding program and electronic trading will help enhance the effectiveness and amplify the quality of the investment opportunities created by our expanding equity research analyst team, high-touch trading desk and domestic and international sales trading teams,” says Matthew DeSalvo, head of equities, Mizuho Securities, in a prepared statement.
Mizuho Americas consists of several legal entities offering clients corporate and investment banking, financing, securities, treasury services, asset management, research and more, officials say. The firm has offices in the U.S., Canada, Mexico, Brazil and Chile.
Mizuho Financial Group is based in Tokyo.
Cordium Extends Consulting to Help with GDPR Compliance
Cordium, a governance, risk and compliance services vendor, has expanded its Cybersecurity and Data Protection Consulting Services in an effort to help investment firms prepare for and manage the requirements of the E.U.’s General Data Protection Regulation (GDPR), which takes effect in May 2018.
The GDPR initiative will “introduce a rigorous set of data privacy and security requirements – spanning 99 articles and 173 recitals – for any organization that servicing or controlling data of European Union residents, regardless of where the company is located,” according to Cordium officials. “The costs of non-compliance will be severe, with fines of up to €20 million or 4 percent of annual turnover.”
The Cordium expansion will help investment firms “assess their current policies and practices for processing, storing and protecting data, identify any potential gaps to the GDPR requirements and develop remediation plans,” officials say. “Clients will receive recommendations on the tools they can deploy and the policies and procedures they can implement to ensure ongoing compliance.”
Cordium has offices in London, New York, Boston, San Francisco, Malta and Hong Kong, officials say.
SIX Swiss Exchange to Use UnaVista for Remote Transaction Reporting
The SIX Swiss Exchange company is partnering with the London Stock Exchange Group (LSEG) to build a link to the LSEG’s UnaVista service that will facilitate transaction reporting for products trading via the SIX Swiss Exchange for remote participants, officials say.
The service from UnaVista will help remote participants of SIX Swiss Exchange to “fulfil their reporting obligations under the Swiss Financial Market Infrastructure Act (FMIA),” SIX officials say. “The FMIA enhanced the reporting obligations for securities dealers, which required a revised service solution to be developed.”
“This is an exciting opportunity to collaborate with SIX Swiss Exchange to help create efficiencies for firms with global reporting obligations,” says Mark Husler, CEO of UnaVista/LSEG, in a prepared statement.
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