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  • Wall Street says audits, crisis response plan needed to combat cybercrime

    In the wake of this summer's cyberattack on JPMorgan, a Wall Street trade group representing hundreds of securities firms, banks and asset managers is speaking up on how the securities industry's cybersecurity should be managed. Detailed audits that are customized to individual firms' business models and an industry crisis response plan will be required to safeguard the industry, the Securities Industry Financial Markets Association said in an 11-page paper released last week.

UBS and trueEX are first to stream much-anticipated MAC swaps

UBS Neo and trueEX have launched live order book trading of market-agreed coupon or MAC swaps, the standardized futures-like swaps that quant funds have long-anticipated could lend themselves to live streaming prices. MAC swaps have never before been listed as live actionable prices.

ICE outlines plans for shoring up Libor against abuse

The new administrator of the London Interbank Offered Rate, or Libor, has unveiled its proposed plans for basing calculation of the Libor rate on actual transactions, instead of estimates, to make it less susceptible to manipulation.

Turquoise block order service launches with seven brokers

Turquoise, the European dark pool owned by the London Stock Exchange, has launched a service for trading large block orders, with liquidity provided by seven brokers out of the gate.

 

Wells Fargo closes its dark pool due to weak demand

Wells Fargo shut its alternative trading system or dark pool on Friday due to weak demand in a crowded market that includes dozens of alternative trading venues.

JPMorgan seeks to build $6.5 billion corporate campus on Manhattan's West Side

JPMorgan Chase and Co. is seeking incentives to build two towers on Manhattan's West Side, with the total space reportedly being equal to two Empire State Buildings. The buildings would be...
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