Category: Financial Services

Broadridge’s Fi360 and ProctorU partner to launch remote proctoring and identity management solution
December 09, 2024 BY Sam Boughedda

Broadridge Financial Launches AI-Powered Algorithm Insights Service for NYFIX

The service, which is said to be the first of its kind, is expected to boost algorithmic trading by providing buy-side firms, including asset managers and hedge funds, with real-time liquidity mapping and data-driven decision-making tools. “Algo traders will now have a quantitative, data-driven service to power critical trading decisions,” said George Rosenberger, Head of…

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Euroclear reports operating income increase of 7% in H1 2021
December 09, 2024 BY Sam Boughedda

ODDO BHF Picks Euroclear FundsPlace for Fund Distribution Services

The move aims to streamline operations, reduce complexity, and enhance efficiency for ODDO BHF’s fund assets. Euroclear, which provides post trade services, said in its press release that by utilising FundsPlace, ODDO BHF will benefit from centralised distribution processes and automated trailer fee collection, optimising revenue while mitigating operational risks. Euroclear’s platform supports over 3,000…

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December 06, 2024 BY Sam Boughedda

Tortoise Capital Advisors Gets Go-Ahead For 2 Strategic Fund Merger Proposals

The changes are said to be aimed at enhancing operational efficiency and boosting shareholder value, with the final implementations set for 23 December 2024. The first merger involves Tortoise Midstream Energy Fund (NTG) and Tortoise Energy Infrastructure Corp. (TYG). TYG will emerge as the surviving entity, maintaining its original strategy and becoming Tortoise's flagship closed-end…

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financial buildings
December 06, 2024 BY Sam Boughedda

Hong Kong Monetary Authority Fines China CITIC Bank HK$4M

The regulator said the penalty comes after an investigation into deficiencies in CITIC's transaction monitoring systems between November 2015 and July 2018. The HKMA found that CITIC's automated transaction monitoring system had failed to generate alerts for suspicious transactions due to errors in detection and core model rules. Additionally, they state that CITIC also failed…

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FINRA
December 05, 2024 BY Sam Boughedda

FINRA Fines LifeSci Capital $900,000

The regulator said in a filing that the New York-based firm, specialising in underwriting, has also been censured and required to implement a supervisory system to address these shortcomings. The fine stems from LifeSci Capital's role as lead underwriter in the initial public offering of LifeSci Acquisition II Corp., a special purpose acquisition company (SPAC),…

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financial buildings
December 05, 2024 BY Sam Boughedda

Clear Street Gets FCA Approval, Launches in the UK

The company, which aims to modernise the brokerage ecosystem, has also been granted Category 1 Ring-dealing membership by the London Metal Exchange (LME), marking a significant milestone in its global expansion strategy. Clear Street’s ambition is to grow beyond North America into the UK, Europe, and other international markets.  According to Ed Tilly, President and…

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December 04, 2024 BY Sam Boughedda

BGC Group Sells Capitalab Business to Unlock Shareholder Value

The transaction, valued at $46 million, reflects a revenue multiple of approximately 7.5 times, underscoring the strategic significance of the deal. BGC Group explained in its press release that Capitalab specialises in rates portfolio compression and margin optimisation, critical components in streamlining trading operations.  BGC will retain its post-trade foreign exchange risk reduction business, previously…

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December 03, 2024 BY Sam Boughedda

TP ICAP and Amazon Web Services Announce 'Major Strategic Collaboration'

The two companies are set to collaborate to accelerate the development of Fusion, TP ICAP's cloud-based digital platform, designed to optimise transaction lifecycle management. It was revealed that AWS will deploy 45 specialised engineers to collaborate with TP ICAP's technology teams, leveraging data analytics and generative AI to significantly reduce product development timelines. The companies…

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Euronext
December 03, 2024 BY Sam Boughedda

Euronext Unveils Total Return Futures on FTSE MIB Index

The firm revealed in a press release Monday that the move expands its European derivatives offering, building on the success of its TRF on the CAC 40 Index launched in 2018. TRF is designed to replicate the economics of over-the-counter (OTC) total return swaps, offering a more transparent and cost-effective exchange-traded solution.  Euronext explained that…

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