Standard Chartered’s VC Unit Partners with Northern Trust Standard Chartered via SC Ventures and custodian Northern Trust are launching an “institutional-grade” custody solution for cryptocurrencies to help financial services firms invest in cryptocurrency-based assets, officials say. The custodian support is in response to the growing demand for cryptocurrency-based assets that will need support for transaction… Read More >>
NYFIX Matching Now Supports SWIFT Messaging
Itiviti & ECS Partner to Bolster NYFIX Matching Itiviti, a technology and service provider to financial institutions, reports the advent of a partnership with ECS Fin, a provider of financial messaging services and transaction-processing solutions, that will add trade settlement to NYFIX Matching. The partnership, Itiviti says, will enable NYFIX Matching to process trade messages… Read More >>
Schroders Takes Majority Stake in Impact Investor
Schroders Invests in BlueOrchard Global asset manager Schroders and BlueOrchard Finance Ltd. have announced that they have entered into an agreement “under which Schroders will acquire a majority stake in leading impact investor BlueOrchard,” officials say. Based in Zurich, Switzerland, BlueOrchard, which is engaged in microfinance and impact investing, was founded in 2001, officials say…. Read More >>
Symphony Raises $165M to Fund Its Next Chapter
Standard Chartered and MUFG Innovation Partners led a round of investment that yielded $165 million in new capital for Symphony Communication Services, which will help the vendor take its open source messaging and collaboration system to the next level, officials say. Symphony officials say that they will use the capital influx “to evolve its new… Read More >>
Standard Chartered Braces for Probes of FX Practices
Standard Chartered Bank reports that it has received a so-called “decision notice” from the Regulatory Decisions Committee of the United Kingdom’s Financial Conduct Authority (FCA). The decision notice imposes a penalty of £102,163,200 ($136.1 million) (net of a 30 percent early settlement discount) on the bank group. That penalty is related to the group’s “historical… Read More >>
Standard Chartered Pays $40M Fine via FX Case
The New York Department of Financial Services (DFS) has fined Standard Chartered Bank $40 million for attempting, in the period between 2007 and 2013, to “rig transactions in foreign exchange [FX] markets.” Under the consent order with DFS (the last in a series of consent orders that, DFS says, “follow a detailed investigation of manipulation… Read More >>
Frankfurt Leads in Race to Be Next E.U. Financial Hub
As U.K. and European Union officials battle it out over Brexit financial settlements and border resolutions, Paris, Amsterdam, Dublin and Frankfurt are vying to be the city of choice for London-based financial institutions searching for a new European base. Competition is fierce but Germany’s largest city and financial capital, already home to the European Central… Read More >>
Brexit-Born Bank Exodus Begins
Frankfurt and Dublin are emerging as the favorite hotspots for foreign banks as United Kingdom and continental European negotiators hammer out a Brexit deal by March 2019. Although many observers believe that the Brexit process will take longer than the earmarked two-year period, there has been a spate of announcements because banks, fund managers, insurers… Read More >>
Deutsche Bank Fills Top Posts for IT Innovation
Deutsche Bank Taps Two to Lead Innovation Efforts Deutsche Bank reports that Elly Hardwick has been named head of innovation and Philip Milne has been named chief technology officer (CTO) for innovation. Hardwick, who joined the bank in early December, will lead the bank’s innovation activities and manage the Deutsche Bank Labs globally, the bank… Read More >>
Whirlwind Continues as Standard Chartered Exits Derivatives, Convertible Bonds
Standard Chartered continues to embrace major changes as bank officials announced that the 150-year-old firm is exiting the businesses for equity derivatives and convertible bonds as part of a strategic exit of the institutional cash equities, equity research and equity capital markets efforts underway since this past January. In a prepared statement, bank officials say… Read More >>
