The US Securities and Exchange Commission has slapped a $7 million fine on Citigroup to settle charges that a computer coding error caused the firm to provide the agency with incomplete 'blue sheet' information about trades it executed.
The Depository Trust & Clearing Corporation (DTCC) is shifting more of its applications to Amazon Web Services in a progressive effort to cut costs by migrating to the cloud and eliminating the need to buy, build and maintain internal servers, storage and security structures.
The R3 blockchain consortium is working with Barclays Bank, Isda and legal and academic bodies to explore the development of a repository of master templates for smart contracts when trading and managing securities on distributed and shared ledgers.
The Brexit fallout continues, with concerns rising that Visa might move hundreds of jobs out of the UK, the London Stock Exchange's merger with Deutsche Bourse could be hampered, and the City's role running euro clearing is under threat.
Financial service firms and technology providers around the world will spend more than $1 billion this year as they race to bring distributed ledger tech to capital markets, claims Greenwich Associates.
The Financial Stability Oversight Council (FSOC) has zoned in on marketplace lending and distributed ledger technology as emerging threats to the safe operation of financial markets.
BNP Paribas Securities Services has set up a 20-person innovation and digital lab (I&D Lab) staffed by industry veterans to focus on the use of big data and distributed ledger technologies and potential investment oppotunities in the fintech sector.
The Australian Securities Exchange is to lift its stake in blockchain startup Digital Asset Holdings, reinforcing its determination to press ahead with plans to develop a new post-trade platform based on distributed ledger technology.
Euroclear is exploring the potential of using blockchain technology to create a next generation settlement service for the London gold market.
BNP Paribas Securities Services, Euronext and Société Générale are among the members of a seven-strong consortium that has banded together to investigate the development of a post-trade blockchain infrastructure for SMEs in Europe.
Deutsche Bourse is to set up a dedicated fintech venture fund, DB1, to invest in early to growth stage companies operating in the capital markets arena.
© Finextra Research 2016