A processing failure that prevented 275,000 HSBC customers in the U.K. from receiving their pay ahead of a holiday weekend last weekend has renewed concerns in the U.K. about how effectively banks are maintaining their payment infrastructures.
In the wake of financial scandals over the past few years that have seen chat room used to fix financial benchmarks, several of the largest firms have considered banning chat altogether. Yet the challenge is that in fast-paced financial markets, the immediacy of chat makes it one of the communications tools that finance professionals finds most useful.
In the search for alpha, asset managers are finding that the automated and quantitative trading strategies they increasingly rely on are portable--into new asset classes and new geographies.
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The Department of Homeland Security said it is National Cyber Security Awareness Month, yet Scottrade and the American Bankers Association have both reported breaches in the past week. For those organizations, forensic security will fully unwind the severity of the situation, but firms are increasingly adopting preemptive, or ethical hacking to uncover the weaknesses before they are exploited.
LoopPay, the technology acquired by Samsung it its bid to differentiate itself from ApplePay, was reportedly breached months ago by a Chinese hacking group looking to replicate its technology, Samsung has confirmed. The LoopPay network is physically separate from Samsung Pay, according to Samsung, and neither the phone-based payment service, nor any customer records of the service were impacted by the breach.
Global business-to-consumer commerce is expected to reach $2.3 trillion in 2018, according to eMarketer, yet rapid sales growth will put increasing demands on the payment infrastructure supporting that business.
Deutsche Borse subsidiary Eurex Clearing, which is one of the world's leading clearinghouses, is launching a new service for calculating initial margins on current and hypothetical portfolios. The new service, called Eurex Clearing Prisma Margin Estimator, will become available November 16.
Bernstein, the research and execution services arm of AllianceBernstein (AB), is launching a pairs trading application for its customers to automate the process of selecting the right parameters for pairs trading strategies. The company is making the application available to its clients who use Bloomberg's Execution Management System through the Bloomberg App Portal.
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7 out of 10 midsize and large companies still use spreadsheets for planning.
Capital requirements and leverage restrictions constrained and changed acquisition financing last year, a Wachtell, Lipton, Rosen & Katz partner wrote. In 2015, expect more of the same.