IBM is to acquire risk management and regulatory compliance consulting firm Promontory Capital and create a new subsidiary, Watson Financial Services, in which it will use artificial intelligence technology to keep pace with the rapidly changing financial reporting landscape.
Distributed ledger technology is set to move out of the test environment and into the wild next year, with nearly two thirds of banks expecting to be in production with full-scale, commercial blockchain projects by 2019, according to research from IBM.
The European Commission has opened an in-depth anti-trust investigation into the proposed EUR24 billion merger between Deutsche Bourse and the London Stock Exchange.
Credit Suisse and the R3 blockchain consortium are driving a new initiative to apply distributed ledger technology to overhaul antiquated and costly manual intervention in the $3 trillion global syndicated loans market.
A pair of central securities depositories (CSDs) are tackling the threat posed to their industry by the blockchain frenzy head on, forming a partnership to explore how they can make the most of distributed ledger technology.
Multi-bank foreign exchange counterparty CLS is to build a payments netting service for trades settled outside the core membership using distributed ledger technology based on Hyperledger Fabric.
Working under the R3 banner, a gang of eight banks have successfully tested a distributed ledger prototype for bond transactions using Intel technology.
A senior executive at the European Central Bank has spoken out about the potential damage to financial market integration from the haphazard uptake of distributed ledger technologies by the Bloc's banks.
BNP Paribas says it has entered 'co-development mode' with clients to pilot a number of blockchain applications for transaction banking, after embarking on a collaborative process during its ‘Blockchain Bizhackathon’ earlier this year.
SIX Securities Services and Clearstream have struck a deal to provide shared services to local and European markets, as rising costs and pressure for diversification force consolidation in the European clearing and settlement industry.
SIX Securities Services has contracted with Digital Asset Holdings to develop a proof of concept that will demonstrate the commercial viability of distributed ledger technology across the Swiss financial market, with an initial focus on securities lifecycle processing.
© Finextra Research 2016