Lackluster investment in post-trade processes has caused an information blackout that prevents financial services firms from getting an enterprise-wide view of the money that has been spent on brokerage, custodian, exchange, and clearing services, and this weakness is taking a toll on profits, according to a new report from Meritsoft, a post-trade process automation services… Read More >>
Crypto-Currency Exchange Loses $40M via Hackers
Major crypto-currency exchange Binance recently shocked financial markets with the news that it suffered a “large-scale security breach” on May 7 that led to the theft of 7,000 bitcoins (BTC), valued at $40 million in total. The security breach comes as market interest in crypto-currency trading appears to be hitting its stride, according to a… Read More >>
BGC Partners Sells Trayport to ICE
Intercontinental Exchange (ICE), the exchanges and clearinghouses network that includes the New York Stock Exchange, reports entering into a definitive agreement to acquire London-based vendor Trayport for $650 million in ICE common stock, representing approximately 2.5 million shares. Trayport, which licenses its technology platform to brokers for electronic and hybrid trade execution, primarily in the European over-the-counter… Read More >>
How Bitcoin’s ‘Blockchain’ Could Shake Up Ops
Swiss bank UBS recently established a FinTech innovation lab that will primarily focus on investigating the applications of cryptocurrency Bitcoin’s underlying technology to the financial services industry. The move is the latest step in what industry observers see as the clear-eyed and widespread acknowledgement by large financial services firms of the technology’s disruptive potential, particularly… Read More >>
Ex-NYSE Euronext Exec to Head CME Europe
Derivatives exchange company CME Group has named former NYSE Euronext Amsterdam CEO Cees Vermaas as managing director and CEO of CME Europe Ltd., its London-based derivatives exchange, according to a CME Group statement. When Vermaas steps into his new role on Jan. 2, 2015, he will report to William Knottenbelt, CME Group senior managing director,… Read More >>
Brazilian Exchange Dives into Post-Trade Overhaul
BM&FBOVESPA, the merged Brazilian exchange operator, is delivering the first phase of a major post-trade processing overhaul via the launch of a clearinghouse for derivatives, intended to streamline and ease the collateral burden for its customers. An operator for securities and derivatives markets, BM&FBOVESPA provides registration, clearing and settlement services. It also acts as a… Read More >>
