Berkeley Heights Is Site of New Fiserv Campus Payments and financial technology vendor Fiserv is expanding its presence in New Jersey via a new location in Berkeley Heights that will bring approximately 2,000 jobs to the area, officials say. “The planned Fiserv campus will serve as a strategic center of excellence for technology and product… Read More >>
NEX & CFETS Launch Platform for FX Trading in China
FX Platform Launched in Phases NEX, a financial technology company, reports that it has partnered with the China Foreign Exchange Trade System (CFETS), China’s interbank market trading platform and infrastructure provider, to launch CFETS FX2017, a new trading platform for the Chinese foreign exchange (FX) market. CFETS launched the first phase of FX2017 with a… Read More >>
SEC Freezes Broker’s Accounts in Insider Trading Scheme
The SEC reports that it has secured an emergency court order freezing the brokerage accounts of Shaohua (Michael) Yin, who is accused of holding $29 million in “illegal profits from insider trading in advance of the April 2016 acquisition of DreamWorks Animation SKG, Inc. by Comcast Corp.” Yin is a Wharton Business School graduate with… Read More >>
UBS Moves to Expand IB Ops in China
UBS is taking steps toward expanding its investment banking presence in mainland China and is likely to double its staffing there, including additional back office personnel. “What we can say is the following,” a spokesman for UBS tells FTF News. “UBS has been holding talks since last year [2016] with several shareholders about buying their… Read More >>
Chinese Investor Group to Buy Chicago Stock Exchange
Investor group Chongqing Casin Enterprise Group (the Casin Group) is acquiring the Chicago Stock Exchange (CHX) and intends to grow CHX’s listings business, launch a second equity trading book, and bring to market other trading products, officials say. The Casin Group is headquartered in Chongqing, a city in Southwest China, and is a diversified holding… Read More >>
CME Group Partners with Top Index Provider in China
The CME Group, a conglomerate of derivatives marketplaces, and China Securities Index Co. Ltd. (CSI), dubbed the “largest index provider in China,” have begun a strategic partnership that will lead to new commodity indexes, and will pave the way for the listing, trading and clearing of derivatives products based on the commodity indexes to be… Read More >>
SEC Slams Branches of Big Accounting Firms in China
The SEC has imposed $500,000 sanctions against four China-based branches of four top accounting firms that allegedly refused to turn over documents related to investigations of potential fraud, say SEC officials. The four firms — Deloitte Touche Tohmatsu Certified Public Accountants Ltd., Ernst & Young Hua Ming LLP, KPMG Huazhen (Special General Partnership), and PricewaterhouseCoopers… Read More >>
