Regulatory reporting software provider Cappitech signed a partnership deal with Colt PrizmNet. In the run up to the adoption of MiFID II, when increasingly more private and sensitive data will be uploaded, Cappitech is looking to deliver an increasingly secure product.

The regulatory reporting company’s solution Capptivate is a customizable and scalable alternative for adhering with an increasingly complex regulatory framework. The deal with Colt enables Cappitech to take advantage of the company’s financial services extranet Colt PrizmNet, a private network with increased security.

Capptivate is connecting directly to PrizmNet via a VPN network, which enables clients ... (read more)

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Hyperledger, a collaboration creating an enterprise grade, open source blockchain framework and code base, has been joined by SAP (NYSE: SAP) as a Premier member. As part of SAP’s Premier membership, Dominik Heere, Vice President, Innovation Engineering, SAP Innovation Center Network, will represent the company on the Hyperledger Governing Board.

“Having support from an enterprise software and cloud leader like SAP is an important step in the right direction,” said Brian Behlendorf, Executive Director, Hyperledger. “The diversity of our members is a real strength, as we look to advance open blockchain technology POCs, pilots and production deployments across many industries this ... (read more)

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Electronic bond-trading startup TruMid Financial LLC, backed by George Soros and Peter Thiel, reached a definitive agreement to acquire Electronifie, another trading startup led by former Goldman Sachs trader Amar Kuchinad and focused on improving the liquidity for bigger corporate bond trades.

The two start-ups launched in 2015 focusing primarily on modernising and improving the old-fashioned corporate bond trading system, with TruMid and Electronifie each offering different approaches to reshape how corporate bonds trade. Investors have for years complained that bonds are too hard to trade, given it has historically been struck over the phone between dealer banks and their clients

Upon ... (read more)

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Polish FX brokerage XTB, whose shares are listed on the Warsaw Stock Exchange, has promoted its Regional Director of Poland, Germany, Hungary, and Romania to serve as the group’s newest CEO, according to a corporate statement published on its website.

Earlier in January, XTB dismissed its longtime executive and Chief Executive Officer Jakub Maly.

In his new role Mr. Arnaout will be based out of Warsaw, and he steps into the position with immediate effect.

In this previous capacity, he was focused on the management of XTB’s Polish, German, Hungarian, and Romanian branches.

The promotion follows on the ... (read more)

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Bats BZX Exchange, operated by Lenexa-based Bats Global Markets, Inc. (Bats: BATS), today announced plans to appeal the SEC’s ruling to reject its proposal for the first exchange-traded fund that would track the price of the Bitcoin.

Announced in an order on March 10, the Securities and Exchange Commission (SEC) denied a request to approve the Winklevoss twins’ bid to list a bitcoin ETF on the BATS exchange under the ticker COIN. The decision also marks a setback for Bats Global Markets, which proposed the fund, after the SEC based its rejection on Bats’ inability to reach “security surveillance sharing agreements” ... (read more)

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Xetra, Deutsche Börse’s reference market for exchange trading in German shares and exchange-traded-funds (ETFs), has launched an expanded data feed that helps augment its order book depth and scope.

The group’s data feed already encompasses a broadly visible order book – the development of an enhanced Xetra data feed however allows for improved trading capabilities via the deployment of more granular data, catering to both buy and sell-side clients.

Following the upgrade, CEF ultra+Xetra Order by Order will include a composite of tools and functionality, such as un-netted order by order public market data, full order book depth for all instruments, information ... (read more)

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Accounting giant PricewaterhouseCoopers LLP has settled a $3 billion negligence lawsuit in the middle of a trial lasting weeks over its alleged responsibility for the 2011 collapse of commodities brokerage MF Global Holdings.

MF Global’s bankruptcy administrator and PwC each said that the settlement terms were confidential, but that the lawsuit has been resolved “to the mutual satisfaction of the parties”.

The settlement deal should be the last remaining piece of litigation relating to the bankrupt financial services firm, following earlier settlements benefiting shareholders, bondholders and customers.

The world’s biggest professional services firm by annual revenues had been accused of advising MF Global ... (read more)

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This article was written by Adinah Brown of Leverate.

The times they are a changing in the financial trading world – the year 2017 has continued to usher in the previous year’s trends that saw the tightening of regulations, increasingly aggressive and prolific competition and profit margins that are ever more thinly spread.

Many are anticipating that the industry will experience wide scale consolidation, where small brokerages that don’t have the resources to compete will be swept away, while larger and more established brokerage firms will be able to stand their ground and may in fact, have ... (read more)

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Belgium’s Financial Services and Markets Authority (FSMA) has issued a warning against the unauthorized activities of multiple boiler and recovery rooms, as well as a cloned firm, that are unlawfully targeting Belgian investors, as per an official statement.

FSMA operates as a watchdog for financial trading, securities and markets in Belgium, overseeing a variety of assets and compliance issues for traders and consumers. Today’s warning is the latest initiative in its efforts to clamp down on companies engaging in fraudulent activities.

The latest additions include:

Nearly one year after an attempted heist of $1.0 billion from the Bangladesh Central Bank fund at the New York Fed via the hack of SWIFT’s software system, US authorities are investigating any links or traces of the funds that have since disappeared.

While the original theft was potentially much larger, the majority of the payments were blocked, which resulted in no material losses – still over $81 million was routed to accounts in the Philippines and diverted to casinos there, which was the last stop that any regulatory authorities could trace the funds to.

US authorities at ... (read more)

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