December has always been full of surprises — good and bad — and the Intercontinental Exchange (ICE), the exchanges company that owns the New York Stock Exchange, has announced a slew of executive surprises this week for NYSE and ICE. In a press release and an accompanying letter from Jeff Sprecher, founder, chairman, and CEO… Read More >>
Crypto to Face New Rules in 2022: Regulators
Heavy-hitter federal regulators say new rules are coming for cryptocurrencies, the new, mostly unregulated financial sector that competes with traditional banks without offering deposit insurance, the banks’ most important protection. And cryptography has been beset by high-profile scandals that have cost some would-be crypto millionaires their entire fortunes. As well, at a time of worsening… Read More >>
Wall Street’s New Cop Jolts Enforcement
The Securities and Exchange Commission (SEC) reports that it filed 434 new enforcement actions in fiscal year 2021. The SEC’s whistleblower program was “critical to these efforts and had a record-breaking year,” a commission statement notes. FY 2021 “marked the highest number of awards to both the number of individuals and in dollar amounts awarded,”… Read More >>
Wall Street Mulls Key Pandemic Post-Trade Lessons
Some observers on Wall Street are saying that the global pandemic may be heading toward an end phase. I hesitate to agree with that prediction given the many unexpected riptides that the potentially fatal COVID-19 virus has imposed upon the world since its onset in 2020 (or even sooner). So, while we hope that the… Read More >>
Wall Street Firms Show Resilience Amid the Pandemic
Securities trading firms in New York City have been doing well for the past 18 months despite the multiple challenges caused by a global pandemic, the ongoing market volatility, and the loss of 3,600 jobs, says New York State Comptroller Thomas P. DiNapoli in his annual report on firms that constitute Wall Street. “Wall Street’s… Read More >>
Did a Deutsche Bank Whistleblower Get Nearly $200M?
The Commodity Futures Trading Commission (CFTC) has just announced a record-setting whistleblower award of nearly $200 million but it was quickly followed by a report in The Wall Street Journal that identified the tipster as someone from Deutsche Bank. The CFTC protects all whistleblowers via confidentiality. In a press release dated Oct. 21, CFTC officials acknowledged… Read More >>
Asset Managers Want Enterprise-Wide ESG: Survey
The securities industry wants to fully integrate environmental, social, and corporate governance (ESG) concerns across the enterprise and into decision-making processes if the emerging, relevant data and solutions can facilitate those goals. This is according to the ESG Global Survey 2021 that BNP Paribas conducted and just released. The BNP Paribas survey, based on interviews… Read More >>
Millennial Wave Coming for Financial Advisors: Survey
Apparently, there’s at least one thing that the Millennial generation likes that their Boomer parents also like — enlisting financial advisors. This might be good news for securities trading firms worried that the wealth of young America was heading down a cryptocurrency rabbit hole. This was uncovered via a new study sponsored by post-trade systems… Read More >>
BitMEX Entities Settle with CFTC, FinCEN for $100M
The Commodity Futures Trading Commission (CFTC) reports that the U.S. District Court for the Southern District of New York has filed a consent order against five companies charged with operating the BitMEX cryptocurrency derivatives trading platform. The five companies are HDR Global Trading Ltd., 100x Holding Ltd., ABS Global Trading Ltd., Shine Effort Inc Ltd.,… Read More >>
NYSE Mandates Vaccinations for Trading Floor Participants
Vaccinated Personnel Not Required to Wear Masks The New York Stock Exchange (NYSE) is requiring all personnel working on its open outcry trading floor at 11 Wall Street to be vaccinated, but “masks are optional for vaccinated personnel at this time,” according to a memo obtained FTF News. The Aug. 11 memo to the NYSE… Read More >>
