Despite growing skepticism about blockchain projects for financial services, business information provider IHS Markit is predicting in a new report that revenues via these efforts will soar to $462 billion by 2030. A key harbinger of the times to come is “the value of blockchain in the financial sector reached $1.9 billion in 2017,” according… Read More >>
AxiomSL Hires CFO from Charles River Development
David Weber to Serve as CFO &COO for AxiomSL AxiomSL, a provider of regulatory-reporting, risk and data-management services, reports the appointment of David Weber as chief operating officer (COO) and chief financial officer (CFO). Weber is a financial services industry veteran, with more than 30 years of financial management and operations experience, AxiomSL says…. Read More >>
Commerzbank & HSBC Strike Strategic Settlement Partnership
Commerzbank and HSBC have struck a strategic partnership that will see the German bank transferring its securities settlement operations to a newly created joint venture with HSBC Transaction Services. Commerzbank will have a 20 percent stake in the joint venture that will begin operations in early 2020 and continue for an initial period of 10… Read More >>
How Real is the Bitcoin Phenomenon?
As I’m writing this piece, The Wall Street Journal is reporting that the price of bitcoin currency is hitting a new high: “The price of bitcoin crossed $13,000 on Wednesday afternoon, the latest milestone in the cryptocurrency’s massive rise.” We are having a moment with Bitcoin, which strangely follows the securities industry’s fascination with the… Read More >>
Blockchain’s Myths Starting to Fade: Report
Despite the hype, there is currently very little hard data to evaluate the benefits of blockchain-supported systems over existing infrastructures, according to a new report, “Blockchain in Capital Markets: More Evolution than Revolution,” by market research consultancy Opimas, based near Paris. The initial results of the blockchain/distributed ledger technology (DLT) are indicating that the emerging… Read More >>
Dynatrace Acquires Qumram
Dynatrace Declines to Reveal Qumram Acquisition Price Dynatrace, a digital performance management vendor, has acquired Qumram, a privately held company offering session replay technology for mobile and web applications, officials say. “With the addition of Qumram’s technology and intellectual property, Dynatrace will further expand its digital experience capabilities by providing the ability to visually replay… Read More >>
SWIFT Extends Financial Crime Fighting to Emerging Markets
SWIFT has expanded its financial crime-fighting services while Broadridge Financial Services has just completed a key blockchain/distributed ledger technology (DLT) pilot — news that broke at SWIFT’s SIBOS industry conference in Toronto this week. In an effort to help small financial services firms and institutions fight financial crime in emerging markets, SWIFT is launching a… Read More >>
SEB & Nasdaq to Create Mutual Fund Blockchain
Swedish financial services group SEB, which has total assets of SEK 2,777 billion ($341 billion), and the Nasdaq Stock Market are joining forces to develop a prototype for a mutual fund trading platform based on the vendor Chain Inc.’s blockchain ledger. The aim is to modernize and increase efficiency in the processing of purchases and… Read More >>
SETL & Asset Managers Launch Blockchain System for Record Keeping
London-based SETL, a financial blockchain specialist, has launched IZNES, the pan-European fund Blockchain-based, record-keeping platform together with four asset management firms — OFI AM, Groupama AM, La Financière de l’Échiquier, and Arkéa Investment Services. IZNES will enable firms to enter into new relationships with investors and manage the Know Your Customer (KYC) processes required by… Read More >>
BNP Paribas, Société Générale & Others Launch LiquidShare
Major European Players Back LiquidShare A European blockchain startup with a post-trade focus, LiquidShare, is being created via the support of BNP Paribas, CACEIS, Caisse des Dépôts, Euroclear, Euronext, S2Iem, Société Générale and Paris Europlace. The financial technology venture is the result of a partnership launched by its shareholders in June 2016 to develop a… Read More >>
