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 a spate of recent announcements, MasterCard revealed it is actively expanding the reach of its MasterPass digital wallet. The company has sought to boost the wallet's acceptance through partnerships with Citibank India, the payment gateway PAY.ON, and through multiple partnerships in the travel industry.
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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It wasn't the "flash crash," but the rout of equity markets that began Monday offered a glimpse of how the market's technology infrastructure stands up to sudden volatility.
BlackRock will soon be the latest large firm to own its own robo-advisory with its announcement of its intent to purchase FutureAdvisor.
Wall Street is always looking for alpha, but building the models and collecting the data to find that alpha can be time-consuming and exhausting. After watching Wall Street colleagues email spread sheets to each other, or search through shared drives to try to find models that others before them may have created, Justin Zhen and Gregory Ugwi decided there must be an easier way.
Bank of New York Mellon is working to provide accurate closing prices for certain mutual funds and exchange traded funds affected by a glitch Monday in the SunGard Data Systems technology that BNY Mellon uses to generate net asset values.
The recently launched Nasdaq Futures Exchange (NFX) is partnering with OptionsCity Software for settlement pricing for derivatives contracts traded on the exchange.
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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.