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ESMA Ratchets Up Pressure on Financial Markets to Develop a Consolidated Tape
The European Securities and Markets Authority (ESMA) is ratcheting up pressure on the EU’s financial services industry to develop a consolidated tape (CT) solution for equity instruments. The regulator sets out its views in a consultation paper that was published in mid-July and also reviews the cost of market data. The paper is the outcome…
LinkUp with S&P Dow Jones Indices for S&P 500 LinkUp Jobs Index
In what may be a first for the alternative data space, jobs data specialist LinkUp has, er, linked up with S&P Dow Jones Indices to launch the S&P LinkUp Jobs Index based on its job openings database. The index – launched in the spring – will track job market activity among S&P 500 corporations, spawning…
NICE Actimize Launches New Regulation BI Solution
On June 5, 2019 the US Securities and Exchange Commission (SEC) voted to approve the new Regulation Best Interest (BI), imposing rigorous new requirements to ensure firms are transparent and act in their clients’ best interest. Due to come into force on June 30, 2020, the new rule substantially upgrades existing suitability regulations to raise…
Start-up VendEx Targets Market Data Inventory Segment
Transatlantic start-up VendEx Solutions is seeking to shake up the marketplace for market data inventory systems through the creation of a centralised hub for managing the relationship between financial institutions and their data providers. The company, which has just launched its VKey contract management module, is seeking to offer a modern alternative to systems offered…
DataRobot on FactSet Adds Machine Learning into Investment Workflow
In early August, FactSet and DataRobot introduced an artificial intelligence (AI) investment workflow, DataRobot on FactSet, an automated machine learning (ML) tool that helps financial services firms – particularly those lacking significant data science teams – incorporate AI into their investment workflows. At the moment there is a shortage of data scientists within the investment…
Vela Extends List of Systematic Internaliser Data Feeds with Addition of IMC Electronic Liquidity Providing SI
Vela has expanded its provision of access to systematic internalisers (SIs) through its SMDS software-based feed handler with the addition of the IMC Electronic Liquidity Providing (ELP) SI. IMC is a technology-driven market maker that develops innovative technology and algos to trade multiple asset classes on more than 100 trading venues worldwide. The ELP SI…
Wematch.live Seeks to Disrupt Voice Traded Interest Rate Swaps
Wematch.live, a digital broker, reports growing interest in the Euro interest rate swaps (IRS) matching and negotiating platform it released in late July. The platform went live with an initial group of 10 banks, including JP Morgan, Société Générale, HSBC and Royal Bank of Canada, and has since increased usage and liquidity, with 39 banks…
Uncleared Margin Rules Extension: Building a Roadmap for the Buy-side
By Vikas Srivastava, Chief Revenue Officer at Integral. On the surface, news that BCBS and IOSCO have granted an extension to the final phase of the Uncleared Margin Rules (UMR) is likely to be welcomed by asset managers currently trading uncleared derivatives with a notional between $8 billion and $50 billion. The extension pushes the…
Regulators Discuss SM&CR and IT Failure at UK Parliamentary Hearings
The UK’s parliament’s treasury committee recently held a series of hearings on IT failures in the financial sector. Over the course of the hearings, at which representatives of the Bank of England, the Financial Conduct Authority and the Prudential Regulatory Authority spoke, the regulators discussed work completed and work in progress around operational resilience in…
Refinitiv Shareholders Agree Merger Deal with LSE, David Craig Remains CEO of Refinitiv
Following our review of the London Stock Exchange Group’s (LSEG) proposed acquisition of Refinitiv through a transaction valued at $27 billion, Refinitiv today announced that its shareholders have agreed definitive terms with LSEG on the acquisition. The approval of LSEG shareholders will be sought at a general meeting to be held before the end of…