A-Team Insight Author: A-Team
Additional International Consensus on the Proposed LEI Needed Before Rules Can be Issued in 2012, Says OFR’s Berner
Although the Office of Financial Research (OFR) was due to issue a rule regarding the adoption of its proposed legal entity identification (LEI) standard before the end of last month, the deadline has slipped due to the need to gain additional international input on the subject, according to the Treasury’s Richard Berner. Berner, who was...
Broadridge Appoints Stefanie Shelley as Chief Marketing Officer
Broadridge Financial Solutions announced today that it has appointed Stefanie Shelley as its Chief Marketing Officer, effective immediately. In her new role, Ms. Shelley will be responsible for Broadridge’s global marketing functions, including the company’s brand strategy, all brand and product marketing efforts, corporate communications, and digital and social media marketing. “Stefanie is a proven...
State Street Global Advisors Appoints Head of UK, Middle East and Africa Institutional Business
State Street Global Advisors (SSgA), the investment management business of State Street Corporation, today announced the appointment of Susan Raynes as head of its UK, Middle East and Africa (UKMEA) institutional business. Raynes will report to Greg Ehret, head of SSgA Europe Middle East and Africa (EMEA) and will be responsible for identifying institutional business...
SGX Reaches for Lower Latency
So, Singapore Exchange’s Reach matching engine went live today as planned. Based on Genium Inet technology from Nasdaq OMX, it matches in less than 90 microseconds, door to door, whatever that means. The new system is part of a $250 million upgrade by SGX, also including a new data centre and co-lo facilities. Apart from...
AFME Pledges Support for a Consolidated Tape, Gathers Info on Post-Trade Transparency for Non-Equity Markets
As part of its response to the European Commission’s proposals under the second iteration of MiFID, the Association for Financial Markets in Europe (AFME) has championed the cause of a consolidated tape for post-trade equity data in the region. However, although it acknowledges the need for greater transparency in the non-equity markets, the industry association...
Just One To Go For TradElect
With Oslo Børs moving to the LSE’s Millennium Exchange technology sometime soonish, it looks like flicking the off switch for TradElect is moving closer. The exchange has already migrated its main market and its Turquoise MTF to Millennium, so moving Oslo’s market will mean just Borse Italiana remains in the slower-latency world. It does all...
Costs of Living Wills Requirements Likely to be Considerable But Are Hard to Estimate, Says Kinetic Partners’ Shrimpton
The UK Financial Services Authority (FSA) has just released a new consultation paper on its proposals for recovery and resolution planning requirements, which estimates that the direct costs of implementation will be between £4 million and £35 million for “high impact” firms and the ongoing compliance costs to the industry will be between £150 million...
Virginie’s Blog – The Real Cost of Recovery and Resolution in the UK?
This week, the UK Financial Services Authority (FSA) has published its proposals for recovery and resolution planning requirements, which follow on from the Financial Stability Board’s (FSB) recommendations (see more on which here) and much regulatory discussion across the globe on the subject (see the FSA’s discussions from last year here). The regulator estimates that...
Getting to Grips with Latency for HFT in FX
There has been much discussion recently around the impact of high frequency trading (HFT) on the financial markets. There is no doubt that the concept of HFT, analysing market information such as stock prices to implement proprietary trading activity in a matter of seconds, has many advantages. This includes greater market liquidity, lower transaction costs...
Sifma Kicks off Industry Feedback to SEC on Proposals for Dealing with Unclaimed Securities, Further Clarity Needed
Sifma has been one of the first industry groups to raise concerns about the Securities and Exchange Commission’s (SEC) proposals regarding the introduction of new requirements for broker-dealers and transfer agents to collect data on lost or missing security holders. The association (one of around a dozen to respond initially) is asking the regulator to...