Thomas Tapped to Become Global Chairman William B. Thomas is the new chairman of KPMG International, succeeding John B Veihmeyer, who completed his term as Chairman and is retiring from KPMG, officials say. Thomas, who will run the KPMG global network of professional services firms for a four-year term, has previously served as chairman… Read More >>
Broadridge Acquires Summit Financial Disclosure
Broadridge, Summit to Integrate Offerings Broadridge Financial Solutions recently announced that it has acquired Summit Financial Disclosure, a financial document management solutions provider in an effort to provide an end-to-end service. The acquisition will lead to the integration of Summit’s document composition and regulatory filing services with Broadridge’s proxy voting and shareholder communications services, officials… Read More >>
BNPP Pays $246M Fine, Agrees to FX Reforms
The Federal Reserve Board reports levying a $246 million-plus fine against Paris-based BNP Paribas S.A. and “certain of its U.S. subsidiaries” for what it calls “unsafe and unsound practices” in the foreign exchange (FX) markets. Fed officials allege that there were oversight deficiencies via the “the world’s seventh-largest financial services company by revenue [$126.2 billion].”… 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 >>
Vendor 3di Hires Specialist from BNP Paribas
IPUG Vet to Lead RegTech Effort at 3di 3d innovations (3di), a data management software and services vendor serving buy- and sell-side firms, has hired market data specialist John Ikel from BNP Paribas to drive its main consulting and product unit for data governance, vendor officials say. Hiring Ikel is part of “a natural restructuring… Read More >>
LSEG-Deutsche Börse Breakup Paves the Way for Other Suitors
The marriage of the London Stock Exchange Group (LSEG) and the Deutsche Börse was always on shaky ground despite the participants hoping that this time they would be able to finally walk down the aisle after two failed attempts. However, this was not to be and the European Union competition regulators broke up the union…. Read More >>
BNP Paribas Deploys Managed Service for Listed Derivatives
BNP Paribas has gone live with a hosted, derivatives trading platform for a complex workflow of listed derivatives trading operations in Europe, Asia-Pacific and North America. Bank officials add that they expect the deployment to boost customer service via the platform’s cross-asset capabilities. The platform from vendor Fidessa has been set up as “a fully-managed… Read More >>
BNP Paribas Joins trueEX SEF
French banking giant BNP Paribas has joined the trueEX swap execution facility (SEF) offering its derivatives clients the ability to leverage direct clearing, broad support of global currencies, and low-cost execution of interest rate swaps via the trueFIX application programming interface (API) platform, officials say. In particular, the trueFIX API “provides asset managers and institutional… Read More >>
BNP Paribas Unit Tests DLT for Mini-bond Platform
In a bold step, BNP Paribas Securities Services has struck a partnership with renewable energy crowdfunding providers Lendosphere, Enerfip and Lumo to enable private companies to issue mini-bonds through distributed ledger technology (DLT). The platform, which is set to launch at the end of the year, aims to have transactions conducted more securely as well… Read More >>
Major Banks to Mentor FinTech Startups in Asia
FinTech Innovation Lab to Help Eight Entrepreneurs Eight financial technology vendors with a range of new offerings including a know your customer (KYC) combination with distributed ledger technology, have been accepted into a 12-week mentorship program in the third annual FinTech Innovation Lab Asia-Pacific, officials say. Other startups participating in the lab are working on… Read More >>
