Post-trade & ops

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New Zealand puts securities settlement system up for sale

/Post-trade & ops

New Zealand puts securities settlement system up for sale

The Reserve bank of New Zealand is looking for a buyer for the NZClear security settlement and depository business after deeming it a non-core business that requires significant investment.

Swift extends KYC Registry to funds and custody

/Post-trade & ops

Swift extends KYC Registry to funds and custody

Banking co-operative Swift is is extending the reach of its KYC Registry utility beyond correspondent banking to support Know Your Customer compliance requirements for funds distribution and custody services.

Ripple scores $28 million funding round

/Post-trade & ops

Ripple scores $28 million funding round

Digital currency outfit Ripple Labs has closed a $28 million Series A funding round that includes IDG Capital Partners and the venture arms of CME Group and global data storage company Seagate Technology.

Finra backtracks as opposition to Cards projects mounts

/Post-trade & ops

Finra backtracks as opposition to Cards projects mounts

In the face of fierce opposition from industry bodies, Wall Street watchdog Finra appears to be backtracking on proposals to introduce an automated data collection system designed to help identify risky and suspicious activities.

Seed Alpha bids to become iTunes of equity research

/Post-trade & ops

Seed Alpha bids to become iTunes of equity research

Seed Alpha is hoping to shake up the way equity research is paid for by introducing an iTunes style one-stop-shop where users can pick and choose the reports they want to buy.

Swift Business Forum London - Live blog

/Post-trade & ops

Swift Business Forum London - Live blog

Returning for its fifth year, the SWIFT Business Forum London will bring together 800 plus financial services professionals to explore the theme of harnessing change in financial services.

Merrill slapped with record fine for repeated transaction reporting failures

/Post-trade & ops

Merrill slapped with record fine for repeated transaction reporting failures

The Financial Conduct Authority has fined Merrill Lynch a record £13.3 million for repeated breaches of transaction reporting rules.

Swift promises STP Holy Grail with SwiftRef APIs

/Post-trade & ops

Swift promises STP Holy Grail with SwiftRef APIs

Financial messaging network Swift has introduced an automated data look-up service that identifies and validates payments reference data in real-time, reducing the time spent by bank back offices in correcting errors resulting from manual repairs and investigations.

Accenture moves into post-trade processing

/Post-trade & ops

Accenture moves into post-trade processing

Accenture is looking to cash in on the trend for banks to share back office processing costs after receiving approval from the UK's Financial Conduct Authority for the operation of a new post-trade utility.

UBS to investigate blockchain technology in new London innovation lab

/Post-trade & ops

UBS to investigate blockchain technology in new London innovation lab

The Swiss bank is planning to open an innovation lab in Level39's high growth space, HighGrowth:42, to explore the role of blockchain technology in financial services.

Snapchat posts sees RBS investment bank head ousted

/Post-trade & ops

Snapchat posts sees RBS investment bank head ousted

Rory Cullinan has resigned as head of RBS' investment bank after a series of messages he posted on social media app Snapchat were published in the Sun newspaper in the UK, according to the FT.

UK banks' IT spending to increase - CBI/PwC Report

/Post-trade & ops

UK banks' IT spending to increase - CBI/PwC Report

UK banks’ spending priorities for the next year are focused on improving IT infrastructure and cyber security, according to a report from the CBI and PwC, which also finds a focus on building new digital platforms to remain competitive and respond to changing customer needs.

Swift London Business Forum to continue discussions on FinTech innovation

/Post-trade & ops

Swift London Business Forum to continue discussions on FinTech innovation

Challenger banks will feature heavily in the upcoming Swift Business Forum in London. Craig Donaldson, CEO at Metro Bank UK, is joined by keynote speaker Sir David Clementi, ex-deputy governor of the Bank of England and chairman of Virgin Money.

Future Money Focus: Robert Sams, Clearmatics

/Post-trade & ops

Future Money Focus: Robert Sams, Clearmatics

An ex-hedge fund manager who spent a decade trading interest rate derivatives is now jumping headfirst into the world of the blockchain with his newest venture, Clearmatics, a clearing and settlement technology for financial OTC markets based on a distributed ledger.

Efficiency is no longer a strategy, it is a necessity for banks - Finextra Research

/Post-trade & ops

Efficiency is no longer a strategy, it is a necessity for banks - Finextra Research

At least 67% of bank IT budgets are still being spent on maintenance and compliance rather than transformative projects that can create value, according to research conducted by Finextra on behalf of CSC.

Temenos moves into fund admin with Multifonds acquisition

/Post-trade & ops

Temenos moves into fund admin with Multifonds acquisition

Core banking vendor Temenos is to move into the fast-growing funds admin business with a EUR235 million acquisition of Luxembourg-based Multifonds

Fintech fund Illuminate Financial invests in CloudMargin

/Post-trade & ops

Fintech fund Illuminate Financial invests in CloudMargin

Illuminate Financial, a fintech venture fund focused on the capital markets industry, has made its first investment since its launch last year, taking a stake in collateral management outfit CloudMargin.

FCA to probe investment and corporate banking competition

/Post-trade & ops

FCA to probe investment and corporate banking competition

The Financial Conduct Authority (FCA) is to launch its first wholesale market study into investment and corporate banking to assess whether competition in the sector is working properly.

Finovate Europe 2015 - Day 1 roundup

/Post-trade & ops

Finovate Europe 2015 - Day 1 roundup

Crowdfunding, bitcoin, identity and security, and, of course, personal finance management dominated the first day of Finovate Europe in London. Finextra watched the demos, followed the tweets and spoke to the players. Here's what caught our eye.

SmartStream acquires Algorithmics Collateral assets

/Post-trade & ops

SmartStream acquires Algorithmics Collateral assets

SmartStream has acquired Algorithmics Collateral assets from IBM, enabling it to address funding and counterparty risk issues for customers from within its own post-trade software suite.

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