One year after rolling out a correspondent clearing business focused specifically on serving retail brokerage and advisory firms, DST Systems said robo-advisory services are already impacting the space.
Intercontinental Exchange's ICE Benchmark Administration (IBA) is entertaining ideas for enhancing its new system for calculating gold prices. IBA was awarded management of the gold benchmark...
LCH.Clearnet announced that it is now offering inflation swap clearing through its SwapClear service, becoming the first central counter party approved to clear the products under both U.S. and European regulations.
Founded in 2008, Intellectual Property Exchange International Inc. (IPXI) opened for trading last July. Among the first things traded were rights to patents on prepaid debit card technology owned by...
Morgan Stanley is selling its Wentworth compressed natural gas business, which had come under Fed scrutiny, to a newly formed company called Pentagon Energy LLC.
Some may have thought last year's equity market structure debates would fade in the new year, but that doesn't appear to be the case. Starting January 6, BATS Global Markets released an open letter to market participants making recommendations on what it sees as three key issues.
The executive chairman of Royal Bank of Scotland's Corporate and Institutional Bank Rory Cullinan will leave the firm as it continues a drastic shrinking of its investment banking capabilities. Cullinan is no stranger to making cuts, having previously been charged with closing or divesting unwanted assets as head of RBS's "bad bank." His departure comes as a surprise, however, because he had only moved from the bad bank to head the corporate bank one month ago.
The lessons the financial industry learned when Hurricane Sandy slammed the northeast, forcing financial markets to shut down for two days, have already been incorporated into the mock cyber war...
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.