After the price fall of Bitcoin and other cryptocurrencies recently, and after the comment from Jamie Dimon, the CEO of JP Morgan Chase that bitcoin may be a "fraud" and that he will "fire anyone at the company who trades it", the CEO of Goldman Sachs may be feeling different about what bitcoin is and…
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Multi-asset execution and order management systems company FlexTrade Systems has today announced the successful execution of a large block trade from an actionable Indication of Interest (IOI) sent by Goldman Sachs (NYSE:GS) within the FlexTRADER EMS. The trade was completed using FlexIOI - a new, customisable feature of FlexTRADER which allows users to trade on…
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Five of world's leading financial institutions have committed to using Droit Financial Technologies as their choice for MiFID II trade compliance. The decision by BNP Paribas, Crédit Agricole CIB, Goldman Sachs, Lloyds and UBS represents a watershed in the industry search for a strategic solution in the run-up to the implementation of the new European…
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It looks like Goldman Sachs Group Inc (NYSE:GS) may be looking for a new 'Robin', to Lloyd Blankfein's 'Batman'. And, it may need to rethink its succession plans. Goldman Sachs #2 executive, COO Gary Cohn, has been reported by Dow Jones as considering leaving the firm. Mr. Cohn has been rumored to be in the…
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Just announced today, global investment banking giant Goldman Sachs Group Inc (NYSE: GS) has left the R3 distributed ledger technology consortium it helped to found two years ago, reported by the Wall Street Journal (WSJ). The multinational finance company was one of nine original members of R3. The consortium however continues to build momentum since its…
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The global clearing house LCH has announced today that it will be launching a new service for the non-cleared derivatives market. LCH SwapAgent will benefit from LCH’s expertise in serving and managing risk for the cleared rates & FX derivatives market, providing market participants with a number of solutions designed to materially improve standardisation, efficiency…
Read moreMorgan Stanley's quarterly profit rose 61.7% to $1.52 billion from $939 million for the quarter ended September 30, while earnings per shares rose to 81 cents from 48 cents. Earnings per share from continuing operations was 80 cents, far above the average analyst estimate of 63 cents, according to Thomson Reuters. Adjusted revenue from sales…
Read moreCLS Group, a provider of risk management and operational services for the global foreign exchange (FX) market, has announced its intent to release a payment netting service, CLS Netting, for buy-side and sell-side institutions’ FX trades that are settled outside the CLS settlement service. David Puth, CEO of CLS, commented: Working with our settlement members…
Read moreThe World Gold Council and the London Metal Exchange (LME), together with Goldman Sachs, ICBC Standard Bank, Morgan Stanley, Natixis, OSTC and Societe Generale, today announce their intention to introduce a suite of exchange-traded and centrally-cleared precious metals products. The initiative has been driven by the need for greater market transparency, to support and aid…
Read moreThe trial marked an unprecedented scale of institutional collaboration between the financial and technology communities exploring how distributed ledgers can be applied to global financial markets. Just released is a major blockchain announcement from financial technology innovation company R3 CEV. In short, they connected 40 banks to five different blockchains and allowed them to facilitate…
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