Less than two weeks after completing its acquisition of institutional FX market Hotspot, BATS Global Markets announced plans to expand into Europe with the launch of a London-based matching engine later this year.
Startup online merchant payment processor PayStand, which last year launched an online platform that allows merchants to accept alternative forms of payments alongside credit cards, has expanded into the point of sale space. Its new mobile point-of-sale payments processor, allows merchants to accept credit cards, checks, or digital currency like bitcoin -- all from an iOS mobile device.
Northwest Mutual is acquiring LearnVest, one of the young firms that has contributed to the increasing popularity of online or robo-advisory services. In making the acquisition, Northwestern Mutual, the nation's second largest life insurance company, joins several other financial services giants in embracing the lower-touch online service model, including Fidelity, which recently acquired eMoney, and Charles Schwab and Vanguard, both of which are launching their own version of robo-advisory services.
In India, where mobile phone usage is exploding, mutual fund companies are launching a variety of innovative method for reaching and engaging potentials customers including WhatsApp, Facebook and other chat and social media services.
A startup bitcoin trading marketplace founded by Wall Street veterans has enlisted Nasdaq to provide it with high-performance trading technology used by exchanges around the world. The marketplace, called Noble Markets, sought Nasdaq technology to lend legitimacy to its platform for the institutional clients it is aiming to attract.
With vendors like Bloomberg, Thomson Reuters, Deutsche Bank S&P and Nasdaq already offering content for sale on its online platform, Airex Markets aims to become an online superstore for financial information. About a month into its launch, the site is looking to change the model for financial information, by giving market participants who might not have the resources to subscribe to all-encompassing data packages to pick and choose the data they want a-la-carte.
Square, the company that made it easy for any small business to process credit card payments with its mini-card reader, is trying to help make it just as easy for businesses to accept cash. Although Square has been processing email-based peer-to-peer cash payments for individuals since 2013, its newest iteration of peer-to-peer cash payments is specifically designed for businesses.
Deutsche Bank is reportedly weighing several options to boost profitability, including cuts to the firm's prime brokerage services, interest rates trading and retail operations. Several reports indicate the firm is weighing three scenarios, with a decision expected as early as April.
A new electronic LBMA Gold Price launched Friday with six banks participating in twice daily online auctions that promise transparency on the way gold prices are set. UBS and Goldman Sachs are joining the four banks that previously participated in the phone-based London Gold Fix, and still more firms may join in the future.
In the early days of the Internet, Marc and Susan Strausberg founded Edgar Online, a company that made the Securities and Exchange Commission's vast warehouse of financial information on companies accessible and consumable. Now the husband-and-wife team are reentering the space with a new tool, a cloud-based platform for harnessing the cognitive computing capabilities of IBM Watson and applying them to financial information.
Credit Suisse is launching digital private banking in Asia beginning with Singapore as its first launch location. For Credit Suisse, which has said it is increasing its focus on wealth management, launching the platform in Asia Pacific allows the firm to debut the digital capabilities in a growing and competitive region that could offer strong potential pipeline of new clients.
Much like Apple's announcement that it was entering mobile payments with Apple Pay, Facebook's announcement that it will launch peer-to-peer payments signals the entrance of a giant into a still evolving field.
Australia's Asia Pacific Stock Exchange announced it has completed an upgrade of its trading platform to a new system powered by Nasdaq technology. The exchange said the upgrade was made to support efforts to expand out of Australia and across Asia.
As a result of the negative publicity chat rooms attracted due to their role in the foreign exchange rate-fixing scandal, Thomson Reuters has unveiled new compliance tools for the use of instant messaging in financial markets.
To compete in fast-paced markets, traders often not only employ algorithmic trading strategies, but use algorithmic tools to calculate how well their algorithms are performing. Trading solutions vendors say they are seeing increasing interest in tools that alert traders throughout the day to market conditions that may warrant making adjustments to algorithms or even switching to different algorithms altogether before markets close.
Looking to top Apple Pay's biometric Touch ID fingerprint scanning technology, Alibaba is already testing facial recognition for use as a secure authentication tool for mobile payment. Alibaba founder Jack Ma demonstrated the technology Sunday at the CeBIT trade show in Hanover, Germany.
FX trading platform LMAX Exchange is launching LMAX Prime, a prime of prime service to provide retail brokers, hedge funds and asset managers with credit intermediation and customized liquidity arrangements that include access to multiple FX venues.