The New York Stock Exchange has launched the NYSE Tech Council, a group of senior technology leaders that will explore best practices for artificial intelligence, cybersecurity, and other cutting-edge technologies. “The council will be comprised of chief technology officers, chief information officers and other C-suite technology leaders from NYSE-listed companies,” according to the announcement. “With… Read More >>
Overbond Launches A.I.-Based Margin Optimization & Other News
Overbond Adds A.I.-Based Functions to Trading Engine Overbond, a vendor focused on automation for credit trading, reports that it has added an artificial intelligence-based margin optimization function to its automated trading system to help sell-side, fixed income desks “optimize their hit ratio and increase the profitability of automated fixed income trading,” officials say. Currently, automated… Read More >>
BlackRock Vet Joins Arcesium & Other News
Arcesium Hires from BlackRock Arcesium reports that it has hired the former commercial director for BlackRock’s Aladdin Data Cloud, Mahesh Narayan, to be the institutional asset manager segment head for the data management solutions vendor. Narayan will oversee Arcesium’s “cloud-native data platform, investment lifecycle solutions, and associated financial operations,” according to the official announcement. These… Read More >>
SocGen to Revamp Derivatives Clearing & Other News
Société Générale to Deploy FIS Solution Société Générale and systems and services provider FIS report that the French banking giant will be using the FIS Cleared Derivatives Suite for a “strategic transformation of its derivatives clearing back-office.” “As part of the agreement, the investment bank and financial services group will transition their existing derivatives… Read More >>
ICE Shakes Up NYSE’s Executive Team
December has always been full of surprises — good and bad — and the Intercontinental Exchange (ICE), the exchanges company that owns the New York Stock Exchange, has announced a slew of executive surprises this week for NYSE and ICE. In a press release and an accompanying letter from Jeff Sprecher, founder, chairman, and CEO… Read More >>
ICE Sells Stake in Euroclear for $825M
Silver Lake Buys ICE’s 9.85 Percent Stake American private equity firm Silver Lake likes Euroclear Holding’s growth path and has purchased Intercontinental Exchange’s 9.85 percent stake in Euroclear for €709 million ($824.8 million), officials say. Officials at ICE, the owner of the New York Stock Exchange (NYSE), say the past investment in Euroclear has been… Read More >>
Morgan Stanley Joins ICE Futures Abu Dhabi Exchange
IFAD Offers Hedging for Murban Oil Investment banking giant Morgan Stanley & Co. has joined the ICE Futures Abu Dhabi Exchange (IFAD), a new trading venue of exchanges operator Intercontinental Exchange, Inc. (ICE), officials say. Morgan Stanley will be an exchange and clearing member. To offer ways to trade and hedge Murban crude oil, ICE launched… Read More >>
CFTC Penalizes Firm $500K via Wash Sales Case
SummerHaven Investment Management, a firm that acts as a commodity trading advisor (CTA) and commodity pool operator (CPO), has been penalized $500,000 by the CFTC on charges that it engaged in wash sales and other non-competitive transactions. The firm has also been charged with falling short in supervising these activities, according to the CFTC. The… Read More >>
ICE Unit Settles Charges of Failed Pricing Compliance
A securities pricing subsidiary of the Intercontinental Exchange (ICE) has settled with the SEC over charges that it should have done a better job of vetting certain prices that were based on data from single broker market participants. The wholly-owned subsidiary, ICE Data Pricing and Reference Data (PRD), which is also a registered investment adviser,… Read More >>
ICE Buys the ‘VIX for Bonds’ Index
ICE Buys Merrill Lynch Option Volatility Estimate Index Family Exchange operator Intercontinental Exchange, Inc. (ICE) will be acquiring a family of fixed income volatility indices, including the Merrill Lynch Option Volatility Estimate (MOVE) from Bank of America Merrill Lynch to further help clients manage risk, officials say. “The MOVE Index has a long history of providing… Read More >>
