Like scaffolding on a bank building, the securities industry is getting a make-over via the forces of regulation, new technologies and a reinvigorated emerging markets sector, according to the findings of Deutsche Bank and FT Remark, the research arm of the Financial Times, which conducted a survey of 200 financial services industry participants. In particular,… Read More >>
SEC to Explore DLT at Nov. 14 Fintech Forum
Second SEC Panel Focuses on Clearing and Settlement SEC officials and industry participants will explore distributed ledger technology (DLT) and other IT innovations impacting trading, settlement and clearing via a panel session during the regulator’s Fintech Forum, slated for Nov. 14, at the SEC’s headquarters in Washington, D.C. The forum, which is open to the… Read More >>
SETL, Cobalt DL to Create FX Post-Trade DLT Solution
Two distributed ledger technology (DLT) pioneers SETL, a London-based financial blockchain specialist, and Cobalt DL, a private peer-to-peer network provider, have joined forces via a new partnership intended to yield a post-trade platform for foreign exchange (FX) transactions. “In June 2016, SETL announced the launch of our blockchain-powered OpenCSD platform, which enables any market participant… Read More >>
R3 to Contribute Corda Code to Hyperledger Project
As promised months ago, a distributed ledger technology (DLT) consortium of key players, R3, is going to “open source” its DLT platform Corda by the end of November with the hope of making the platform an industry standard that will encourage others to build products on top of it, confirms Todd McDonald, R3 co-founder and… 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 >>
Rabobank, D&H Complete Blockchain Proof-of-Concept Project
The Project’s Success Bodes Well for Other DLT Applications DH Corp., a provider of technology solutions to financial institutions globally, and Dutch bank Rabobank announced that they have successfully completed a proof of concept for blockchain/distributed ledger technology (DLT) that supports D+H’s payments services hub, and paves the way for other applications of DLT…. Read More >>
SIX Securities, Clearstream Partner to Target Ops Woes
SIX Securities Services, the Swiss central securities depositary (CSD), and Clearstream, an international CSD, are joining forces to develop new services and solutions to better combat tighter regulation, reduced margins and increased competition. It has been well documented that regulation such as the E.U.’s Markets in Financial Instruments Directive II (MiFID II) and the European… 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 >>
Cobalt DL Wants to Take Ops Out of the Dark Ages
Financial technology vendor Cobalt DL has kick started the beta testing on its distributed ledger network, which it hopes will streamline post-trade processes and create a singular database for foreign-exchange (FX) transactions. Spearheaded by former Citi and Deutsche Bank executive Andy Coyne, the platform, which is backed by eight of the world’s largest players in… Read More >>
SEC Rewards Whistleblower with $22 Million
SEC Awards a Total of $107 Million to Whistleblowers The SEC has given a whistleblower “more than $22 million” for a “detailed tip and extensive assistance” that allowed the regulator to halt “a well-hidden fraud at the company where the whistleblower worked,” according to officials. “The $22 million-plus award is the second-largest total the SEC… Read More >>
