Financial data and technology vendor Markit is acquiring the corporate actions and post-trade securities processing provider Information Mosaic in a bid to position itself as “a leading provider of end-to-end corporate actions services,” say Markit officials. Financial terms were not disclosed by either vendor. “The transaction is expected to close in the third quarter of… Read More >>
Wall Street and Silicon Valley Fight for Talent
You might want to add Paul Revere of Wall Street to Jamie Dimon’s other titles, but it’s not the British invasion that the chairman, president and CEO of JPMorgan Chase recently warned about. “Silicon Valley is coming,” he declared in his April 8 annual letter to shareholders. “There are hundreds of startups with a lot… Read More >>
ICAP SVP to Focus on New Fixed Income Products
Interdealer broker ICAP has appointed Ted Bragg to be its senior vice president of fixed income product initiatives in the ICAP US Securities group effectively immediately, officials say. In his new role, Bragg will be based in New York and will be responsible for “creating and developing new hybrid fixed income products for ICAP’s US-based… Read More >>
Superintendent Lawsky to Leave NYDFS
Benjamin M. Lawsky, the New York State Department of Financial Services’ initial superintendent of financial services, will depart the agency in late June, after four years in the post, officials confirm. The agency was created by the New York State Senate in 2011, through the merger of two predecessor agencies, the New York State banking… Read More >>
Do You Want a Robot Writing Your Reports?
Much has been made in the mainstream media about software systems that can take lots of data (previously gathered via tedious methods) and create a wide range of prose from nonfinancial news to reports about the performance of funds. FTF News was so intrigued that we’ve put together a special report on the subject, “Will… Read More >>
Broadridge Acquires Business Unit from Thomson Reuters
Broadridge Financial Solutions has signed an agreement to acquire the Fiduciary Services and Competitive Intelligence unit from Thomson Reuters Lipper. Broadridge will integrate the Lipper capabilities within its mutual fund and retirement business, officials report. The Lipper business unit offers global market intelligence for fund industry flows by country and distribution channel, Broadridge officials say…. Read More >>
Daiwa Capital Markets Deploys Torstone for Hong Kong
Daiwa Capital Markets Hong Kong, the investment banking arm of Daiwa Securities Group, has gone live with securities and derivatives processing software vendor Torstone Technology’s Inferno post-trade processing platform, officials say. The switch marks “the latest phase of a long-term collaboration to implement best-of-breed back-office technology across multiple asset classes at Daiwa HK,” according to… Read More >>
EBS and BrokerTec Make Strides in Merging Businesses
EBS BrokerTec, interdealer-broker ICAP’s electronic foreign exchange and fixed income business, has announced that it’s made significant strides in combining the businesses of EBS and BrokerTec since they merged divisions six months ago, officials say. EBS BrokerTec has combined its sales, support and on-boarding teams, allowing “the business to leverage its scale and reach more… Read More >>
ISE Board Adds Members from Barclays, Morgan Stanley
The International Securities Exchange Holdings, Inc. (ISE) announced the addition of Eric Levine and Tyler Sorba to the boards of directors of its two exchanges. Levine, a director and head trader of Barclays’ automated volatility trading group, was appointed to represent ISE’s Competitive Market Makers (CMMs), officials say. Levine joined Barclays in 2008 through its… Read More >>
The Fed Hits Six Banks with Record Fines
The Federal Reserve has imposed $1.8 billion in fines, “among the largest ever assessed,” against UBS, Barclays Bank, Citigroup, JPMorgan Chase & Co., the Royal Bank of Scotland (RBS) and Bank of America Corp. (BofA) for what Fed officials call “their unsafe and unsound practices in the foreign exchange (FX) markets.” The dollar amounts for… Read More >>
