The foreign exchange (FX) central treasury business of Royal Dutch Shell is replacing several systems — many of them manual — with an automated platform developed to work with Bloomberg terminals and facilitate end-to-end electronic FX workflows with order audit trails. The new corporate treasury service is integrated with Bloomberg terminals and offers “a simplified… Read More >>
NEX Optimisation Provides Access to FX Novation Service
NEX Infinity Users Get Access to Capitolis Customers of the NEX Infinity platform now have access to the automated foreign exchange (FX) novation service of U.S. startup Capitolis via a partnership intended to appeal to the customers of banks, prime brokers and financial services firms that are FX market participants. Most novations are completed via… Read More >>
FCM Opts for Cloud-Based Trade Surveillance
Futures commission merchant (FCM) Rosenthal Collins Group (RCG) has deployed a new trade surveillance system that officials at the independent brokerage and clearing firm say is bringing them the benefits of cloud computing. On Feb.1, 2018, the firm deployed the Validus platform from Eventus Systems, Inc., a regulatory technology software vendor targeting capital markets, officials… Read More >>
Eze Software Bolsters its OMS via Partnership with WTT
Investment technology provider Eze Software is expanding its existing foreign exchange (FX) features via a new partnership with Wise Trading Technologies (WTT), whose real-time, currency risk mitigation toolkit will become available to end-users of Eze’s order management system (OMS). The integration of key features from the two vendor is intended to help financial services firms… Read More >>
R3 Lines Up 60+ Vendors for Corda Platform
FinTech & Service Providers Among R3’s Stable of Vendors The blockchain/distributed ledger technology (DLT) revolution is hitting milestones and software vendor R3 has just announced that more than 60 technology companies from multiple industries and regions have joined the Corda partner network, which supports the Corda platform. Corda is an open source, “blockchain-inspired” DLT platform… Read More >>
Federal Reserve Fines Deutsche Bank $156 Million
The central bank for the U.S., the Federal Reserve System, has hit troubled Deutsche Bank with $156.6 million in civil money penalties and requirements that the bank improve its senior management oversight and controls relating to foreign exchange (FX) trading. “Deutsche Bank lacked adequate governance, risk management, compliance, and audit policies and procedures to ensure… 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 >>
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 >>
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 >>
HSBC Cooperating with FBI FX Probe
HSBC is cooperating with a widely publicized U.S. Department of Justice investigation of two of its top foreign exchange trading officials who are charged with using confidential information about their client for personal gain and at the expense of that client. “HSBC has been and continues to cooperate in the DOJ’s foreign exchange investigation,” a… Read More >>
