Hegarty to Head Financial Markets and Fintech Unit DataRobot reports that Rob Hegarty has been appointed its general manager of financial markets and fintech. Hegarty, a financial technology veteran, will lead DataRobot’s expansion in the capital markets and fintech industries by “empowering even more organizations to leverage machine learning and become AI-driven,” according to the… Read More >>
Goldman Sachs Acquires United Capital for $750 Million
Goldman Sachs Jolts Wealth Management Strategy Goldman Sachs Group is acquiring United Capital Financial Partners, Inc. for $750 million in cash as a way to broaden the reach of the Wall Street giant’s intellectual capital and investment capabilities, officials say. The transaction is expected to close during the third quarter of this year, subject to… Read More >>
Securian Trust Employs SEI’s Cloud-Based Platform
SEI Client to Focus on Automation & Integration SEI reports that Securian Trust Company, an SEI client since 2009, will adopt its wealth platform, intended to “provide a seamless experience for … clients and the advisors that serve them.” The platform, SEI says, is a “fully-integrated, single-infrastructure technology solution developed to support client relationship management,… Read More >>
Hong Kong Firm Goes Live with GBST Solution
CMB Wing Lung Bank Revamps Back Office The Hong Kong-based CMB Wing Lung Bank has implemented a back-office custody solution from post-trade financial technology vendor GBST in an effort to grow its custody banking business, officials say. The bank, which is a subsidiary of China Merchants Bank, is using GBST’s Syn~Ops Custody product to… Read More >>
$462B Market for Financial Blockchains by 2030: Report
Despite growing skepticism about blockchain projects for financial services, business information provider IHS Markit is predicting in a new report that revenues via these efforts will soar to $462 billion by 2030. A key harbinger of the times to come is “the value of blockchain in the financial sector reached $1.9 billion in 2017,” according… Read More >>
Traiana’s HKEX OTC Clear Link Targets FX Deliverables
New Link Targets FX Deliverables Traiana, an infrastructure services vendor for trading and risk management, is providing direct central clearing connectivity to the Hong Kong Exchanges (HKEXs) and Clearing’s OTC Clearing Hong Kong (OTC Clear), officials say. The news means that market participants can now access the OTC Clear service for USD/CNH and USD/HKD FX… Read More >>
MTS Markets & BondCliQ Launch Liquidity Mapping Service
Two Key Players Take On Corporate Bond Liquidity MTS Markets International, part of London Stock Exchange Group (LSEG), and BondCliQ, a corporate bond market data solution vendor, are launching Liquidity Mapping for BondCliQ’s BondTiQ platform to give end-users views of pre- and post-trade information on U.S. corporate bond liquidity, officials say. The new mapping “combines… Read More >>
Abacus Group Buys Hedgepoint Solutions
IT Consultancy to Join Abacus Group Abacus Group, which hosts IT solutions and applications for alternative investment firms, is acquiring Hedgepoint Solutions, a boutique IT consulting firm based in New York City whose clients will be able to use the Abacus Cloud platform. Hedgepoint was founded in 2001 to offer technology services to businesses across… Read More >>
World Bank, CBA Launch First Blockchain-Managed Bond
The World Bank recently broke ground with a bond launch that is being completely managed via blockchain/distributed ledger technology (DLT) and represents a key step forward in the institution’s strategy to harness disruptive technologies. The blockchain operated new debt instrument, or “bond-i” is described as “the world’s first bond to be created, allocated, transferred and… Read More >>
CFTC’s Whistleblower Awards Total More than $45 Million
Whistleblower Program Experiences High-Volume Response The CFTC has handed out more than $45 million in multiple whistleblower awards, reflecting the higher volumes and greater complexity of incoming whistleblower submissions, officials say. In fact, the regulator last month acknowledged “an award of approximately $30 million to one whistleblower and the first award was made by the… Read More >>
