Fin Tech Friday!
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Blockchain specialists SETL and
Cobalt DL have teamed up to produce a post-trade tool for foreign
exchange that creates a single
shared view of each transaction,
with 15 leading institutional FX
participants already signed up.
Droit Financial Technologies has
secured a $16 million investment
from Goldman Sachs and Wells
Fargo to support expansion of
global operations, sales and marketing and the opening of a new
office in Singapore.
Nimbrix - a start-up launched by
industry veterans from the likes of
Blackrock and UBS - has unveiled
a blockchain-enabled trading platform for the buy-side community
by allowing data to be shared and
analysed by users.
Proprietary trading firm Algert
Global has partnered with
One-MarketData as an early adopter of
its One Tick transaction cost analysis platform to understand and
reduce market impact associated
with active portfolio management.
Cinnober has announced that a
new subsidiary is to be established
to develop its real-time clearing
technology business and focus
on providing banks with the technology that can be used across
multiple asset classes.
BondIT has partnered with Wind
Info to bring artificial intelligence
to fixed income markets, through a
data-driven bond portfolio construction tool that provides algorithmic
recommendations to traders.
BN Y Mellon has announced its
latest global innovation centre will
open in Singapore in November
this year, as a reflection of the
region’s rapidly developing innovative Fin Tech landscape.
Goldman Sachs and Santander
have both left the R3 blockchain
consortium, however it is continuing to add new names despite the
high profile exits.
Former Barclays CEO, Anthony
Jenkins, has unveiled a new start-up promising banks better access
and insights into customer data,
through a platform that merges
complex data systems.
Convergex has entered into an
exclusive license agreement
with The OptionEyes technology
platform to help its clients trade
positions in options or equity
US watchdog, the Office of the
Comptroller of the Currency,
has announced plans to establish
an innovation centre for Fin Tech
companies to provide technical assistance and promote inter-agency
Horizon Software announced
Bank Vontobel has decided to implement its Platform for Automated Trading (HPAT) for electronic
execution and the development of
principal trading strategies.
The World Trade Board
working group is aiming to ‘define’
blockchain in its applications in the
Denmark has opened its own FinTech hub, Copenhagen Fin Tech,
in a joint initiative between the
Financial Services Union of Denmark, the City of Copenhagen and
the Danish Bankers Association.
Asset manager Geode Capital
Management has chosen Markit’s
Enterprise Data Management to
allows a central data management
platform, as it plans a complete
overhaul of its legacy data systems.
A recent survey carried out
by Deutsche Bank revealed
three-quarters of the 200 respondents agree blockchain technology,
although in early stages of deployment, will be widely used within
the next three to six years.
Ullink and Alpha Omega have
teamed up to integrate their tools
to produce a post-trade processing
service the buy-side, known as NY-FIX Matching, which allows traders
to match and allocate trades.
A recent survey carried out by
Cap-gemini revealed just over 43% of
executives in the financial services
industry still view Fin Tech firms a