News

BlackRock gets a robo-advisor with FutureAdvisor acquisition

BlackRock will soon be the latest large firm to own its own robo-advisory with its announcement of its intent to purchase FutureAdvisor.

Thinknum harnesses the Internet's big data for financial analysis

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.

BNY working to update fund pricings delayed by SunGard glitch

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.

 

Nasdaq Futures taps Options City for derivatives settlement pricing

The recently launched Nasdaq Futures Exchange (NFX) is partnering with OptionsCity Software for settlement pricing for derivatives contracts traded on the exchange.

Fidelity Information Services opens lab to explore serving India's underbanked

Fidelity Information Services (FIS) is launching a financial inclusion lab in Bengaluru, India, to develop ways to provide banking services to the millions of India's underbanked citizens....

Circuit breakers win, dark pools lose in stock market rout

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.

Salesforce targets financial advisors in first launch of financial services platform

Salesforce today announced Salesforce Financial Services Cloud, a version of its CRM platform designed to help financial advisors boost productivity and improve their engagement with clients. The platform, which has been under development for more than a year, marks the first time Salesforce has released a product specifically tailored to a vertical.

Societe Generale moves its wealth management outsourcing solution onto Figaro

Societe Generale Securities Services (SGSS) has chosen the Figaro platform from JHC to be the foundation of its fully-integrated wealth and investment management outsourcing solution. The platform will help SGSS scale and add new services to the solution that it first rolled out in September.

 

NetSfere emphasizes compliance, security and simplicity with cloud-based messaging platform

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.

 

Markit acquires DealHub in continued FX push

Financial information services company Markit has acquired DealHub, a provider of trade processing and trading services for the foreign exchange market, as part of a continued push to create an end-to-end FX offering. The announcement of the acquisition comes weeks after Markit announced the launch of a centralized FX trade confirmation service.

Liquidnet has 120 firms signed up for fixed-income dark pool launch

Liquidnet reportedly already has 120 U.S. firms signed up for its planned end-of-September launch of its corporate bond dark pool. The company says that the firms signed up thus far represent 50...

JPMorgan, Goldman Sachs and Morgan Stanley to collaborate on reference data

JPMorgan Chase, Goldman Sachs and Morgan Stanley have reportedly joined forces to create a company to produce scrubbed reference data. The project is currently called "SPReD" and may launch as a company in the next six to 12 months, the Wall Street Journal reported.

 

PayPal moves into 'contextual commerce' with acquisition of Modest

In its first acquisition since splitting from eBay, PayPal is acquiring contextual commerce company Modest. The new acquisition will transition PayPal from a payments provider into provider of "a complete commerce solution," the company said.

 

With Lending Club integration, LendingRobot offers seamless robo-investing in marketplace lending

Through a new, tighter integration with Lending Club, LendingRobot is looking to offer the first seamless solution for investors who want to deploy automated strategies, or robo-investing, in marketplace lending.

 

CFTC proposes clarifications on swaps reporting

The U.S. Commodity Futures Trading Commission (CFTC) voted Wednesday to propose amendments that would clarify existing regulations on swaps reporting. The proposed rules are intended to make it...

MasterCard pilots fingerprint scans and 'selfie' biometrics in US and the Netherlands

MasterCard is pilot testing fingerprint scans and a form of facial recognition dubbed "selfie pay" as a way of authenticating users in online transactions.

 

Guessing the trickle down effects of commission unbundling

In announcing this week that it has achieved the payment institution status that will enable it to offer clients a "hard dollar" solution for paying for research, Instinet said it was planning to launch the new service in response to customer demand.

Goldman Sachs Bank USA acquires GE Capital Bank's online deposit platform

Goldman Sachs Bank USA (GS Bank) announced late last week that it has entered into an agreement to acquire GE Capital Bank's (GECB) online deposit platform and assume approximately $8 billion in online deposit accounts and $8 billion in brokered certificates of deposit.

 

eVestment sees financial advisors as the next frontier for smart data

eVestment sees a new segment of the financial industry as hungry for smart data on institutional investing trends: financial advisors.

UK regulator approves Instinet as payment institution, enabling more commission unbundling choices

Instinet Europe Ltd. has been approved as a payment institution by the U.K.'s Financial Conduct Authority, giving it more options in the types of commission unbundling services it can offer to clients.