Financial services giant Citi and the Fintech Open Source Foundation (FINOS) are launching an open standard project that will formulate “consistent controls” for cloud computing cybersecurity, resiliency, and compliance that cloud service providers (CSPs) can use as the basis for a common set of services. The “Common Cloud Controls (CCC)” push is intended to bring… Read More >>
Clearing Is Broken: Q&A with RQD*’s CEO
(Consolidation across the clearing sector has resulted in less competition, fewer options for securities firms, and a broken system, says Michael Sanocki, CEO of RQD* Clearing, a new correspondent clearing provider. Thus RQD’s mission is to reach out to firms that are “sorely underserved” and “ripe for disruption.” RQD, which officially launched last month, offers… Read More >>
Abacus Takes Key Cloud Provider Spot via Merger
Cloud provider Abacus Group has acquired competitor Proactive Technologies to become the largest IT managed services provider for alternative investment firms in the New York metropolitan region, officials say. The acquisition will cement a relationship that began as a partnership and will lead to a wider array of services for their mutual customers, say Abacus… Read More >>
MiFID II: All Trading Calls Must Be Recorded
(Editor’s Note: One of the more underreported aspects of the Markets in Financial Instruments Directive/Regulation (MiFID II) is the voice recording requirements. Greg Kenepp, president of Cloud9 Technologies, a cloud communications service provider, has been focused on these forthcoming requirements, which are likely to turn out to be more challenging than most operations professionals think…. Read More >>
Options Opens Belfast Office
Options, a private financial cloud provider for the capital markets industry, reports that it has opened a new office in Belfast, Northern Ireland. The office is expected to create a total of 31 new financial technology jobs, according to a company statement. Options currently employs more than 100 staff globally and has already started hiring… Read More >>
