Posts by Anna Reitman

FX, Nomura, Pico, rates

Nomura, Asia’s global investment bank, has selected Pico to build, host and manage a new platform supporting its programs in foreign exchange (FX) and rates trading businesses. The Nomura FX trading…

ESAs reinforce that OTC derivative fallbacks should not create legacy contract obligations

December 5, 2019

benchmark reform, European Supervisory Authorities, non-cleared derivatives margin

The European Supervisory Authorities released a statement on the introduction of fallbacks in OTC derivative contracts and the requirement to exchange collateral. ESAs are aware of the possible interplay between…

ESMA publishes final report for bilateral margining, amendments conform to BCBS-IOSCO

December 5, 2019

BCBS IOSCO, ESMA, non-cleared derivatives margin

This final report presents new draft regulatory technical standards (RTS) on the risk mitigation techniques for OTC derivative contracts not cleared by a CCP (bilateral margining) that the European Supervisory…

Tradeweb repo activity lifts slightly to $190.4bn ADV in November

December 5, 2019

Average daily volume (ADV) across rates, credit, equities and money markets for Tradeweb Markets was $693 billion in November 2019, an increase of 22% year-on-year. Average daily trades for the…

Plato Partnership and BMLL Technologies launch free T+1 consolidated tape

December 5, 2019

BMLL Technologies, consolidated tape, Plato

Plato Partnership in collaboration with BMLL Technologies have launched Platometrics, a new market quality metrics tool. Platometrics is the first service of its kind, providing market participants with a complete…

ESMA to mandate real-time European equity consolidated tape

December 5, 2019

consolidated tape, ESMA, market data

The European Securities and Markets Authority (ESMA) has published a first review report on the development of prices for market data and on the consolidated tape for equity, following the…

Banque de France reorganizes payments directorate to pave way for wholesale CBDC

December 5, 2019

Banque de France, wholesale CBDC

In response to global developments of central bank digital currencies (CBDC), France’s central bank is getting reorganized, said François Villeroy de Galhau, governor of the Bank of France and Chairman…

ISLA publishes EU seclending markets manifesto with 5-year priorities

December 5, 2019

ISLA, Securities Lending

ISLA represents the common interests of the securities lending and financing industry in Europe and beyond. With 45% of its membership based in the EU27, and its other members committed…

US financial regulators scrutinizing alternative data in lending

December 4, 2019

alternative data, FDIC, Federal Reserve, Office of the Comptroller of the Currency, US regulators

The Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration and the Office of the Comptroller…

Collateral convergence: J.P. Morgan’s Ed Corral on how triparty is changing (Premium)

December 4, 2019

Collateral Management

collateral management, Ed Corral, J.P. Morgan, topstory, triparty

Since exiting triparty repo of US treasuries in 2016, J.P. Morgan has turned its attention to creating one interconnected global triparty platform. We speak with Ed Corral, a managing director…

Sneak peek: Battle of the Quants in London – December 10

December 3, 2019

Battle of the Quants, data management, digital assets, DTCC, ESG, quants, Quantum Computing

This year’s Battle of the Quants London continues its focus on data, bringing together speakers and panels looking at the advanced technologies required to turn data into alpha and how…

Broadridge launches AI&ML platform for middle/back office

December 3, 2019

artificial intelligence, back office, Broadridge, explainable AI, machine learning, middle office, Tookitaki

Broadridge Financial Solutions announced the launch of Broadridge Data Control Intelligent Automation, a new artificial intelligence (AI) and machine learning (ML) platform built to be deployed across industry-wide reconciliation, matching…

European banks transact on DLT-based seclending platform

December 3, 2019

Commerzbank, Credit Suisse, Deutsche Borse, DLT, HQLAx, Securities Lending, UBS

Deutsche Börse and HQLAᵡ successfully launched their jointly developed Distributed Ledger Technology (DLT) solution for frictionless collateral swaps in the securities lending market. The live transactions were executed by Commerzbank,…

Goldman Sachs open sources language for building shared data models

December 2, 2019

data management, FINOS, Goldman Sachs, open source

FINOS (the Fintech Open Source Foundation) announced that Goldman Sachs is making a major open source contribution to the foundation: a logical modeling language, internally named PURE, along with a…

Amazon launches quantum computing service

December 2, 2019

AWS, D-Wave, IonQ, Quantum Computing, Rigetti

Amazon Web Services announced three key initiatives as a part of the company’s plans to help advance quantum computing technologies at the re:Invent conference. One of the initiatives is called…

Standardization boosted as 16 agencies sign up for ISIN-LEI initiative

December 2, 2019

ANNA, GLEIF, ISINs, ISO, LEI, standardization

The Association of National Numbering Agencies (ANNA) announced that 16 National Numbering Agencies (NNAs) have now signed up to a voluntary initiative that maps new and legacy ISINs to their…

Get the weekly SFM update – our November 29 newsletter is online

November 29, 2019

Top Stories: Treasurers with machines: automated hedging in the FX market; SIX Digital Exchange gears up infrastructure for institutional crypto (Premium); China’s digital currency project: why you should pay attention…

ICMA survey warns on CSDR’s mandatory buy-in regime for European bonds

November 28, 2019

The International Capital Markets Association (ICMA) has released the results of a survey-based study intended to assess the impact of the CSDR mandatory buy-in regime on the European bond secondary…

Basel Committee publishes consultation paper on revisions to the CVA risk framework

November 28, 2019

The Basel Committee on Banking Supervision has published a consultative document on revisions to the credit valuation adjustment (CVA) risk framework. It seeks the views of stakeholders on a set…

Treasurers with machines: automated hedging in the FX market

November 28, 2019

Automation

BNP Paribas, Citi, fintech, FX, Kantox, SVB, topstory

UK-based FX technology firm Kantox is partnering with Citi’s Commercial Bank, BNP Paribas and Silicon Valley Bank to offer its FX automation technology to banks’ clients. We talk to Kantox…

Custodians and fintechs chime in on DLT and cryptoassets

November 27, 2019

Custodians, DLT, fintechs, institutional crypto

The ISSA (International Securities Services Association) Working Group on distributed ledger technology (DLT) and cryptoassets has published a new paper that continues its research on institutional crypto, which adds the…

SIX Digital Exchange gears up infrastructure for institutional crypto (Premium)

November 27, 2019

Blockchain

blockchain, DLT, post-trade, SDX, SIX, topstory

The Swiss Stock Exchange (SIX) is building a fully integrated issuance, trading, settlement and custody infrastructure for digital assets, named SIX Digital Exchange (SDX). Finadium speaks with SDX’s head, Tomas…

SIFMA capital markets conference notes: regulations, technology, end of LIBOR

November 26, 2019

alternatives to LIBOR, cybersecurity, fintech, Regulations, SIFMA, technology

Recently, SIFMA (Securities Industry and Financial Markets Association) hosted its annual capital markets conference. Analysts recap some of what was seen and heard, as well as key themes heard throughout…

First automated repo trade confirmation in US as Citadel, J.P. Morgan tap MarketAxess engine

November 25, 2019

automation, Citadel, J.P. Morgan, MarketAxess, Repo

MarketAxess facilitated the first repurchase agreement (repo) trade affirmation between Citadel and J.P. Morgan, marking the first automated confirmation through MarketAxess in the US. MarketAxess is the operator of an…

Fed reply to US Congress inquiry on CBDC

November 22, 2019

CBDC, Federal Reserve, Jerome Powell, US Congress

Fed chair Jerome Powell replied to an inquiry from congressman French Hill outlining the central bank’s strategy on central bank digital currencies (CBDC). Powell wrote that the Fed is monitoring…

Get the weekly SFM update – our November 22 newsletter is online

November 22, 2019

Top Stories: US adoption of SA-CCR means easing for derivatives clearers and incremental liquidity for big banks; How Fnality is advancing wholesale blockchain settlement (Premium); The impact of direct agency…

AFX announces AMERIBOR on the blockchain

November 22, 2019

AFX, Ameribor, blockchain

American Financial Exchange (AFX), an electronic exchange for direct lending and borrowing for American banks and financial institutions, announced the launch of its AMERIBOR on the blockchain. AFX now mints…

CFTC chair says blockchain tech could overtake internet

November 20, 2019

bitcoin, blockchain, CFTC, crypto regulation

US Commodity Futures Trading Commission chair Heath Tarbert joined CNBC’s “The Exchange” for an interview on digital assets. Here are some of the highlighted quotes: Importance of US leadership in…

BCBS warns on data management in open banking and API era

November 20, 2019

APIs, Basel Committee, BIS, data management, Open Banking

The Basel Committee on Banking Supervision published a report on open banking and application programming interfaces (APIs). The report monitors the evolving trend of open banking observed in Basel Committee…

Broadridge acquires portfolio management fintech ClearStructure

November 20, 2019

acquisitions, Broadridge, fintech, portfolio management

Broadridge Financial Solutions has acquired ClearStructure Financial Technology, a global provider of portfolio management solutions for the private debt markets. Financial details were not disclosed. Today, Broadridge’s SaaS technology powers…

Wells Fargo and IBM ink deal on AI and quantum computing

November 20, 2019

artificial intelligence, IBM Q, IBM Watson, Quantum Computing, Wells Fargo

IBM announced a multi-year, collaborative effort with Wells Fargo focused on research and learning that is intended to boost the bank’s artificial intelligence and quantum computing capabilities. As part of…

NYDFS licenses Fidelity’s digital arm for bitcoin execution and custody

November 20, 2019

bitcoin, crypto custody, crypto regulation, Fidelity Digital Assets, NY DFS

Superintendent of Financial Services Linda Lacewell announced that the New York State Department of Financial Services (DFS) has granted a charter under New York Banking Law to Fidelity Digital Asset…

How Fnality is advancing wholesale blockchain settlement (Premium)

November 20, 2019

Blockchain, Settlements

blockchain, CBDC, DLT, Fnality, topstory, utility settlement coin

Finadium has been following the evolution of UBS’ utility settlement coin (USC) as it shifts from consortium to company. We speak with Olaf Ransome, chief commercial officer at Fnality, about…

Smart contracts and crypto assets get legal standing in UK

November 19, 2019

crypto assets, crypto regulation, smart contracts, UK

The UK Jurisdiction Taskforce of the Lawtech Delivery Panel has published a legal statement on the status of crypto assets and smart contracts under English and Welsh law. The landmark…

NVIDIA launches software for complex financial analysis

November 19, 2019

artificial intelligence, Big Data, GPUs, IBM, machine learning, Mellanox, Microsoft Azure, Nvidia

NVIDIA introduced Magnum IO, a software package that processes huge amounts of data in minutes instead of hours. The software package was developed in collaboration with IBM and Mellanox, among…

Deutsche Börse, Swisscom and partners settle securities transactions via tokens in Switzerland

November 19, 2019

Corda, Deutsche Borse, DLT, Swisscom, ZKB

Deutsche Börse, Swisscom and the three partners Falcon Private Bank, Vontobel and Zürcher Kantonalbank have succeeded in jointly settling securities transactions with tokenized shares via Distributed Ledger Technology (DLT). With…

Fund admin spinout Harmonate launches middle office ML data platform

November 18, 2019

data management, Harmonate, machine learning, middle office, NES Financial

Harmonate announced the launch of its data operations platform for funds. Until this launch, its services were only available exclusively through a single fund administrator, NES Financial. The fintech now…

Women in Securities Finance opens London chapter

November 17, 2019

Women in Securities Finance

Women in Securities Finance announced it’s kicking off a London chapter, which will be led by Harpreet Bains from J.P. Morgan and Ina Budh-Raja from BNY Mellon. The group’s mission…

BNY Mellon joins MAS’ ethical AI initiative for financial industry

November 16, 2019

ASEAN, BNY Mellon, ethical AI, MAS

BNY Mellon announced that it has joined with other financial industry market participants to create a framework for financial institutions to promote the responsible adoption of artificial intelligence and data…

Get the weekly SFM update – our November 15 newsletter is online

November 15, 2019

Top Stories: Is there offshore demand for Chinese bonds as collateral? (Premium); Citi’s Stuart Jarvis on non-traditional players and inventory in seclending (Premium); Media worries about sponsored repo miss the…

Two Sigma launches portfolio risk product for institutional investors

November 14, 2019

portfolio management, Two Sigma, Venn

Two Sigma announced it is launching Venn, a cloud-based investment analysis software platform. Venn was initially introduced on a limited, invite-only basis, and is now available to institutional investors and…

J.P. Morgan and Baton automate derivatives margin payments using DLT

November 14, 2019

automation, Baton Systems, collateral management, derivatives, DLT, J.P. Morgan, Margin

Baton Systems, a provider of distributed ledger-based post-trade solutions for capital markets, and J.P. Morgan have developed a solution that enables the near real-time orchestration of cash and collateral transfers…

Citadel among early clients for Microsoft Azure’s move on Graphcore IPUs

November 13, 2019

Citadel, Graphcore, hardware acceleration, IPUs, machine learning, Microsoft Azure, NLP

Graphcore announced a collaboration for its Intelligence Processing Units (IPUs) with Microsoft Azure. This is the first time a major public cloud vendor is offering Graphcore IPUs, which are built…

PICO continues Asian expansion with Singapore investment

November 13, 2019

APAC, Pico, TaaS

Pico, a provider of technology-as-a-service for the global financial markets, announced that EDBI, a global Asian-based investor, is now a Pico investor and strategic partner, joining existing investors Nomura, Goldman…

BIS and MAS launch innovation hub in Singapore, detail first projects in focus

November 13, 2019

BIS, Central Banks, innovation, MAS

The Monetary Authority of Singapore (MAS) and the Bank for International Settlements (BIS) launched the BIS Innovation Hub Centre in Singapore. This is the BIS’s first expansion of its global…

Citi launches IM calculation service for UMR using ISDA SIMM model

November 13, 2019

Citi, collateral management, ISDA SIMM, UMR

Citi has launched a Regulatory Initial Margin Calculation service (RIMC), a solution for buy-side firms required to post initial margin under the Uncleared Margin Rules (UMR). Financial institutions such as…

Citi’s Stuart Jarvis on non-traditional players and inventory in seclending (Premium)

November 13, 2019

Securities Lending

agency securities lending, Beneficial Owners, Citi, Europe, technology, topstory

When non-traditional players come to the securities lending markets, they often bring non-traditional inventory with them. We speak with Citi’s head of European securities lending, Stuart Jarvis, about the implications.…

BBVA explains quantum supremacy debate

November 13, 2019

BBVA, Quantum Computing

Google’s recent article on quantum computing published in the scientific journal, Nature, has been a source of intense debate. The Mountain View company claims to have executed a computational task…

Institutional crypto weekly roundup

November 13, 2019

AFME, Bakkt, blockchain, crypto assets, crypto custody, crypto exchanges, crypto regulation, cryptocurrencies, Cyberian, DLT, FSB, GLI, J.P. Morgan, Japan, LSEG, MAS, MUFG, Progmat, Project Ubin, security tokens, stabecoins, Temasek