A telling number of asset managers and asset owners are considering using a third-party provider to place and work orders in financial markets via brokers and trading venues, according to a survey on outsourcing conducted by custodian BNP Paribas Securities Services and consultancy Sionic. The survey of 30 investment managers, conducted in February and March… Read More >>
DataRobot Taps Rob Hegarty for General Manager Post
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 >>
How TCA Can Help the Buy Side Too
(The MiFID II reforms across multiple asset classes have caused asset managers across the globe to become more aware of the exacting demands of best execution requirements and thus more aware of the importance of applying transaction cost analysis (TCA) to a trading enterprise. So says Chris Hollands, the head of North American and European… Read More >>
CFTC Entices More Prime Brokerages to Use SEFs
CFTC Issues No-Action SEF Relief for Prime Brokers Prime brokerages are getting new encouragement to trade swaps via swap execution facilities (SEFs), according to a recent action via the CFTC’s Division of Swap Dealer and Intermediary Oversight (DSIO). Officials at the division announced that they will provide no-action relief to facilitate prime brokerage activities on… Read More >>
UBS Fined $36M for MiFID I Reporting Errors
The U.K.’s Financial Conduct Authority (FCA) has fined UBS £27.6 million ($36,524,840.93) on charges that the Swiss financial services giant had transaction reporting failures when it attempted to comply with now-legacy MiFID I requirements. The fine covers nine-and-a-half years of alleged failings “relating to 135.8 million transaction reports between November 2007 and May 2017,” according… Read More >>
MEMX Picks Instinet Veteran to Be Its CEO
The Members Exchange’s (MEMX), a proposed challenger to incumbent exchange companies, has chosen industry veteran Jonathan Kellner to be its new CEO. Kellner’s resume includes his four years as CEO of agency-only broker Instinet. In 2014, Kellner was promoted to the post of CEO of Instinet, the equity trading arm of parent company Nomura Group,… Read More >>
CFTC Exempts Key MTFs From SEF Status
U.K. MTFs Can Operate as Exempt SEFs The U.S. Commodity Futures Trading Commission (CFTC) has issued an amended order that will allow an additional four multilateral trading facilities (MTFs) authorized within the European Union to be exempted from the requirement to register with the CFTC as swap execution facilities (SEFs). The four additional United Kingdom-based… Read More >>
IBM & BearingPoint Target Germany via RegTech BPO Offering
U.S. IT giant IBM and management and technology consultancy BearingPoint will be joining forces to focus on the regulatory technology needs of German financial services firms that are struggling with the demands of Basel III, MiFID II/MiFIR, EMIR II and Solvency II. The Frankfurt-based BearingPoint confirms that its RegTech product unit is partnering with the… Read More >>
Get Ready for More Regulatory Compliance Changes: Q&A
(FTF News got time with Kurt Eldridge, executive vice president, global head of sales at SmartStream Technologies, to talk about the regulatory road ahead and about SmartStream’s win as Best RegTech Solution via the FTF News Technology Innovation awards. At SmartStream, Eldridge oversees the global sales team and its associated revenue-generating activities. He became part… Read More >>
Firms Faced ‘Unprecedented Regulatory Change’ in 2017: Q&A
(Editor’s note: SIX won the Service Provider of the Year honor via the FTF News Technology Innovation Awards for 2018 and we wanted to explore why the company was the top vote-getter for that category. FTF News got a chance recently to interview Robert Jeanbart, head of financial information and member of the executive board… Read More >>
