Federal regulators overseeing financial markets are taking major steps to refine the Dodd-Frank Act’s Volcker Rule restricting proprietary trading so that it has a narrower focus. Since the recovery from the Great Recession, the rule, inspired by Paul Volcker, the former chairman of the U.S. Federal Reserve, has held back banks from proprietary trading and… 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 >>
Firms Ready but Wary as Volcker Rule Becomes Reality
When the Volcker Rule provision of Dodd Frank finally goes into effect on Tuesday, July 21, the banks affected will have already done most of the heavy lifting, industry observers say. But banks will still face an arduous few months as they struggle to pin down the practice of a law they’ve spent so long… Read More >>
SEC Adopts Volcker Rule
The SEC has adopted a final version of the Volcker Rule in a 3-to-2 vote that is a milestone for regulatory reform on Wall Street.SEC Commissioners Daniel M. Gallagher and Michael S Piwowar voted against adoption of the restrictions upon banks and proprietary trading. SEC Chair Mary Jo White and SEC Commissioners Luis A. Aguilar… Read More >>
