IHS Markit, a data, analytics and solutions vendor, has released a data aggregation and analytics engine, dubbed Markit FRTB Studio, intended to help firms meet capital requirements specified by the forthcoming fundamental review of trading book (FRTB) process, courtesy of the Basel Committee on Banking Supervision (BCBS). Most industry observers see the FRTB requirements as… Read More >>
Vendors Prepare Solutions to Help with FRTB Capital Requirements
Capital requirements for many financial services firms will be changing because of the forthcoming fundamental review of trading book (FRTB) process, courtesy of the Basel Committee on Banking Supervision (BCBS). The capital regulations via the FRTB will serve as the next big step in compliance after the recently delayed push for the Markets in Financial… Read More >>
China Renaissance Deploys Fidessa Trading Systems
Firm Says Platform Will Help Its Outreach to Investors China Renaissance, an investment banking, securities and investment management firm with headquarters in Beijing and Shanghai, has deployed an Asian trading platform from vendor Fidessa. The new IT backbone will support the expansion of the firm’s equities business across Asia via a centralized order management… Read More >>
Droit to Grow Operations With $16M Cash Injection
Droit Financial Technologies, an over-the-counter (OTC) derivatives trading systems vendor, is expanding operations to foster the acceptance of its real-time, decision-making engine for point-of-execution compliance. This is possible because of a $16 million, Series A minority investment via Goldman Sachs, Pivot Investment Partners and Wells Fargo. A principal trading firm, DRW, also participated in the… Read More >>
ESMA’s Clarity Helps with Last MiFID II Hurdles
Although the Markets in Financial Instruments Directive II (MiFID II) has been delayed, the European Securities and Market Authority (ESMA) has been busy, recently publishing its “Q&As” as well as a 289-page accompanying guidance document for the new trading regime. This may be the last piece of the regulatory jigsaw but it is one of… Read More >>
ICAP to Offer Regulatory Reporting via Abide Acquisition
ICAP, an interdealer broker and post-trade IT vendor, is acquiring a regulatory reporting specialist, Abide Financial, in order to integrate Abide’s wares into ICAP’s Post Trade Risk and Information (PTRI) offerings, targeting the growing demand among trading firms for solutions to help them comply with multiple regulatory authorities, officials say. ICAP’s investment arm for emerging… Read More >>
U.K. Prime Minister Sets Hard Deadline for Brexit
After much speculation, U.K. Prime Minister Theresa May finally drew a line in the sand announcing that Article 50 would be invoked before the end of March 2017. While Brexiteers cheered that a deadline was set, moderates and remain voters were dismayed as the British pound hit a new three-month low on Monday, Oct. 3,… 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 >>
MiFID II Group Grows, Readies IT Roadmap
The Project Sentinel collaboration of banks to mutualize MiFID II costs completes the first round of assessments of potential technology partners, the initiative has seen an increase in consortium numbers from the original four to seven banks to eight to 10 in the current phase. “At this stage, our sleeves are rolled up and the… Read More >>
Tullett Prebon Buys CME’s Hybrid Trading IT
Interdealer broker Tullett Prebon is acquiring from CME “a long term license of a hybrid trading technology” that it will further develop internally “to provide bespoke, proprietary, customer-facing capabilities,” officials say. Tullett Prebon has been busy lately, having purchased the hybrid, U.S. voice-broking business operations of Creditex from the Intercontinental Exchange (ICE), and before that… Read More >>
