(Editor’s note: The following Q&A is with the 2017 winner of the Editor’s Choice Award for Operational Excellence Karla McKenna who is a director at Citi and the head of standards for the Global Legal Entity Identifier Foundation (GLEIF). A specialist in financial standards, McKenna has been facilitating the development of GLEIF standards and is… Read More >>
New Tool via NEX & Citi Helps Firms Juggle Credit
Vendor NEX Optimisation, in partnership with global bank Citi, has launched Rebalancer, an automated credit-rebalancing tool across five major electronic communication networks (ECNs). Further platforms will be added during the rest of the year. Rebalancer, which addresses limit over-allocation by prime brokers, facilitates and deploys credit in a more cohesive manner from one platform to… Read More >>
FTF Announces 2017 Award Winners
Financial Technologies Forum (FTF) has just announced the winners in its awards competition for post-trade securities operations, which turned out to include a nod to the emerging technology of blockchain/distributed ledger technology (DLT). Approved industry participants and a not a panel of judges selected the winners for the 2017 FTF News Technology Innovation Awards, reports… Read More >>
CFTC Fines, Bans Two Citi Traders for Spoofing
The CFTC has issued two separate but related orders settling charges against Stephen Gola and Jonathan Brims for spoofing — generally defined as “bidding or offering with the intent to cancel the bid or offer before execution” — in U.S. Treasury futures markets while trading for Citigroup Global Markets Inc. (CGMI). The actions against the… Read More >>
Citi Settles FX Cartel Charges with South African Regulator
A regulatory body in South Africa, the Competition Commission, has announced a $5.3 million settlement with Citibank N.A. for the bank’s alleged role in a foreign exchange FX trading cartel Competition Commission report that they have “found that from at least 2007, Citibank N.A. and its competitors had a general agreement to collude on prices… Read More >>
Blockchain Project Tests Post-Trade Ops for Swaps
Barclays, Citi, Credit Suisse and JPMorgan with the help of Axoni and other vendors have been successfully testing since June post-trade processes based on blockchain/distributed ledger technologies and smart contracts that support over-the-counter (OTC) equity swaps. “Industry collaboration is key in driving blockchain innovation and Barclays is keen to remain at the forefront of this,”… Read More >>
Citi to Pay $425M to Settle Benchmark Abuse Cases
Banking giant Citi and some of its key affiliates have agreements with the CFTC to settle the regulator’s investigations into alleged abuses of the London Interbank Offered Rate (Libor), the Euroyen Tokyo Interbank Offered Rate (Euroyen Tibor) and the International Swaps and Derivatives Association Fix (Isdafix) interest rates swaps benchmarks. “Separately, Citi is charged with… Read More >>
More Global Banks Test or Explore Blockchain
The bandwagon for blockchain and distributed ledger technology (DLT) is getting crowded as four major global banks have just completed a battery of tests in which the cutting-edge technology played a key role in credit default swap (CDS) processing. At the same time, key players in Japan led by Nomura Research Institute (NRI) officials are… Read More >>
BISAM Acquisition Serves as a Milestone for Unifying Performance and Risk
Performance measurement vendor BISAM’s just announced acquisition of risk analytics specialist FinAnalytica is a response to growing demands among buy-side firms for a unified performance and risk approach, and industry observers are in agreement that the two disciplines are on a parallel and perhaps intersecting path. BISAM officials are not disclosing the financial arrangements for… Read More >>
Digital Asset Lands A-List Backers and $50M in Funding
Digital Asset Holdings, LLC, a New York City-based developer of distributed-ledger technology for the financial services industry, reports that it has “raised more than $50 million in funding” from several prominent financial industry players. The company’s new investors are: ABN AMRO, Accenture, ASX Ltd., BNP Paribas, Broadridge Financial Solutions, Inc., Citi, CME Ventures, Deutsche Börse… Read More >>
