It’s SIBOS week in Sydney, Australia, where the financial services industry debates and collaborates in the areas of payments, securities, cash management and trade. We’re keeping track of announcements from the event.
Highlights of day 3: artificial intelligence, payments disruption, big data and contextual banking, cryptocurrencies and blockchain
“Regulation tends to lag behind new solutions – seat belts were invented well after the car. It is a real conundrum in an industry like payments.”
Highlights of day 2: megatrends, connectivity, cybersecurity, quantum computing
“Achieving the quantum computing dream would be the art of the impossible – but that utopia can be realised with significant funding, industry collaboration and will.”
SWIFT announced the introduction of Payment Controls, an intelligent new in-network solution to combat fraudulent payments, and to help strengthen its customers’ existing security. It helps payment operations teams mitigate fraud risk in real-time through its unique alerting and reporting capabilities. The service may be set to flag, hold, release or reject high-risk or uncharacteristic payments in real-time, according to business needs. Initially targeted at smaller financial institutions, the utility service is hosted in the SWIFT cloud to allow users immediate access, with no hardware or software installation or maintenance.
As part of gpi (global payments innovation), and to further strengthen customer defences, SWIFT will introduce a new ‘stop and recall’ capability that will enable banks to immediately stop and recall a payment anywhere in the chain. The new feature will provide another barrier against fraud – mitigating business disruption and financial losses in the face of rising threats.
The Depository Trust and Clearing Corporation (DTCC) announced the release of its latest Data Services product, DTCC Equity Kinetics, providing institutional investors with a comprehensive depth of market view of activity across all US equity trading venues. The data is therefore ideal for quantitative market participants seeking insights to enhance their understanding of the US equities markets.
DTCC Equity Kinetics facilitates analysis of U.S. equity market activity by providing a daily feed of trade data based on activity cleared through DTCC’s National Securities Clearing Corporation (NSCC) subsidiary. This data includes aggregated trade volumes for the market, the 10 most-active brokers and an anonymous peer group of nine global brokers, by security and transaction type, covering buy activity and sell activity – sale, short sale and short sale exempt data. This unique offering includes historical data from December 2011 onwards.