Swiss bank UBS recently established a FinTech innovation lab that will primarily focus on investigating the applications of cryptocurrency Bitcoin’s underlying technology to the financial services industry. The move is the latest step in what industry observers see as the clear-eyed and widespread acknowledgement by large financial services firms of the technology’s disruptive potential, particularly… Read More >>
Ex-NYSE CEO Joins Tera as Advisory Director
Tera Group, the parent company of the TeraExchange derivatives trading platform, reports the appointment of former New York Stock Exchange CEO Duncan Niederauer as an advisory director. In that capacity, Niederauer will “provide the firm with strategic advice and insight on growth strategies,” according to a Tera statement. “In addition, he will participate in select senior-level client… Read More >>
Options Opens Belfast Office
Options, a private financial cloud provider for the capital markets industry, reports that it has opened a new office in Belfast, Northern Ireland. The office is expected to create a total of 31 new financial technology jobs, according to a company statement. Options currently employs more than 100 staff globally and has already started hiring… Read More >>
SEC Hits NYSE Affiliates with $4.5M Fine
The SEC has charged the New York Stock Exchange and two affiliated exchanges, NYSE ARCA and NYSE MKT (formerly Amex), with repeated SEC rules-breaking, and the exchanges and Archipelago Securities, their affiliated routing broker, have agreed to pay a $4.5 million penalty. The enforcement action and the penalty agreement were unveiled simultaneously by the SEC…. Read More >>
Update on Hurricane Sandy and Wall Street
NYSE Euronext, the NASDAQ Stock Market and all other U.S. markets for equities, bonds, options and derivatives will stay closed for Tuesday, Oct. 30, because of the impacts of Hurricane Sandy, a storm estimated to affect 50 million Americans across eight states, including New York. “Sandy has transitioned from a tropical to a post-tropical, or… Read More >>
