The Cyprus Stock Exchange (CSE), represented by the European Central Securities Depositories Association (ECSDA) of which is a member, the European Association of Central Counterparty Clearing Houses (EACH) and the Federation of European Securities Exchanges (FESE) agreed on 7 November 2006 on a European Code of Conduct for Clearing and Settlement (the ‘Code of Conduct’).
read more...Cyprus Stock Exchange: Compliance With The Provisions Of The European Code Of Conduct For Clearing And Settlement
Euronext Derivatives Added To Mckay Brothersâ Quincy Extreme Data Service - Equity Index Futures At The Lowest Known Latency At Major UK Trading Centers
McKay Brothers International has added Euronext equity index futures to its industry-leading Quincy Extreme Data (QED) service. The QED service now offers select Euronext instruments at the lowest known latency at major UK trading centers. Latency to Slough-LD4 is 273 microseconds, Interxion-LON2 is 140 and Quincy’s Central London POP adjacent to the LSE is 142.
“Risk takers and risk managers understand that quickly receiving and processing key exchange data can meaningfully impact performance,” says MBI Managing Director Francois Tyc. “We are pleased to offer Euronext data at the lowest known latency to QED subscribers.”
MBI’s UK Local millimeter network connects the five leading London-area data centers wirelessly at the lowest known latencies.
“QED’s ease of implementation is helping to broaden adoption of wireless market data,” continued Tyc. “QED offers more wireless exchange data in more POPs than any provider and on terms that support many use cases.”
The QED service offers a tailored pricing model. Subscribers pay for only the data they need and the POPs in which they consume it. The company offers short term contracts and free trials as well as a small company discount. In addition to Euronext, the QED service distributes market data from ten exchanges at fourteen US and European POPs.
Latencies and prices for the QED service are published at http://www.quincy-data.com/
GBST Study Outlines Success Scenarios For Blockchain In Capital Markets
GBST Holdings Limited (ASX: GBT), “GBST” has released the findings of its initial study into blockchain technologies for international capital markets participants. Tracking the ongoing benefits of digital disruption, the “Four scenarios for Blockchain in Capital Markets” discussion paper identifies the importance of distributed ledger technology and smart contracts as they potentially reduce inefficiencies and costs, as well as create new market infrastructure capable of challenging traditional capital markets operators.
With a recent push by global consortiums to establish common standards for blockchain technology and further encourage its use across the wider financial services industry, the discussion paper is well timed for capital markets participants.
Nick Clarke, Executive Manager - Institutional Product Management, GBST said: “At one end of the spectrum, blockchain technologies are being proposed to completely rebuild capital markets infrastructure and at the other end, blockchain will simply replace legacy technology in use by clearing houses and CSDs. We place these opportunities into context and analyse what these outcomes could mean for current market participants."
"In each case, features such as agreed consensus, redundancy and smart contracts will have varying benefits for our industry and need to be weighed against the cost of implementing each model. Collaboration with regulators and industry agreement on operational models will be key.”
With a reputation for innovation, GBST has been in active discussion with its global clients regarding use case scenarios for blockchain. Its research has shortlisted four varied scenarios including technology replacement; the extensible ledger; a new global clearing and settlement infrastructure and peer-to-peer finance – or what it has termed in the discussion paper as ‘Uber Finance’. Each scenario outlines the potential advantages and limitations of the introduction of distributed ledger technology, highlighting the potential benefits and limitations.
Clarke continued: “We believe that these varying scenarios for the introduction of distributed ledger technology into capital markets will provide participants with an insight into both the benefits and limitations that particular approaches will offer. It should certainly have market participants thinking about the potential impact of distributed ledger technology on their firm’s operations.”
The discussion paper acknowledged that participants will need internal accounting and client servicing systems into the medium term, possibly acting as a firm’s “digital wallet” but it is longer term that the study acknowledges more focus on the peer-to-peer transacting model will have the potential to reshape participant's operations.
The “Four scenarios for Blockchain in Capital Markets” discussion paper was developed in conjunction with Data61, Australia’s digital innovation powerhouse and CSIRO entity.
A copy of the report is available here: bit.ly/1ZaF1HB
A summary of each scenario is outlined below:
United Kingdom Parliament Treasury Committee Update: Chancellor Responds To Chair On Tax Deductably Of Fines
Rt Hon. George Osborne, Chancellor of the Exchequer, has confirmed that payments made by banks to regulators are viewed as “a routine cost of doing business” and are therefore “generally deductible for Corporation Tax purposes”, in his response to a letter from Rt Hon. Andrew Tyre MP, Chairman of the Treasury Committee.
read more...Convergex Expands European Presence
Convergex, an agency-focused global brokerage and trading related services provider, is pleased to announce that it has further expanded its European-based electronic sales team with the recent hiring of Leila Mayet and Jeanine Cerligione. Both Leila and Jeanine join Convergex as Vice-Presidents and will focus on offering an enhanced level of service to Convergex's European clients. Leila and Jeanine join Frances Martin, also based in London, and report to John Holl, Head of International Sales and Trading. They will work alongside Convergex's experienced team of traders, sales-traders and other personnel. Philip Gough is CEO of Convergex Limited, Convergex's London-based brokerage.
read more...Misys Named Best Portfolio Management Software Provider In HFM European Services Awards 2016 - Misys FusionInvest recognised For Its Ability To Simplify The Investment Management Process And Deliver Real-Time IBOR
Misys, the global financial software and services company, has been named Best Portfolio Management Software Provider at the HFM European Hedge Fund Services Awards. Misys FusionInvest receives this award in recognition of its ability to simplify the investment management process, with a combination of market-leading portfolio management capabilities and a real-time investment book of record (IBOR) backbone.
read more...Disclosure In The Digital Age: Time For A New Revolution, SEC Commissioner Kara M Stein, Denver, Colorado, May 6, 2016
Bloomberg Seeks Accreditation As A Local Operating Unit Of The Global LEI System
Bloomberg announced yesterday it has applied to theGlobal Legal Entity Identifier Foundation, or GLEIF, to become a Local Operating Unit, or LOU, of the Global LEI System, or GLEIS. By submitting this application to the GLEIF, Bloomberg moves to the candidate stage of the LOU accreditation process and joins an existing network of LOU’s monitored by the GLEIF.
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Irrational Persistence: Seven Secrets That Turned a Bankrupt Startup Into a $231,000,000 Business
Irrational Persistence tells the story of Garden Fresh Gourmet, and how two entrepreneurs turned a million-dollar debt to a 100-million-dollar annual revenue. Woody Allen famously said that 80 percent of success is just showing up; but any entrepreneur can tell you that it's the other 20 percent that's key. The founders of Garden Fresh took that old saying to heart, building so
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The Incomplete Currency: The Future of the Euro and Solutions for the Eurozone
The Incomplete Currency is the only technical yet accessible analysis of the current Eurozone crisis from a global perspective. The discussion begins by explaining how the Euro's architecture, the relationship between finance and the real economy, and the functioning of the Eurosystem in general are all at the root of the current crisis, and then explores possible
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The first edited volume addressing analysis for unmanned vehicles, with focus on operations research rather than engineering
Applying the Building Code: Step-by-Step Guidance for Design and Building Professionals
No other resourcenot even the building codepresents the exact code information you need, when you need it at design stage
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Psychologies, the leading magazine for intelligent people, provides their inspirational yet rigorous approach to the perennial topic of focus, to include topics of mindfulness, clarity and productivity.
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read more...US market portrait 2016 week 19
BOX Makes Changes to Fee Schedule
Click here to download details of changes to BOX's fee schedule.
Liberty Reserve Founder Sentenced To 20 Years For Laundering Hundreds Of Millions Of Dollars
Arthur Budovsky, 42, was sentenced today in the Southern District of New York to 20 years imprisonment for running a massive money laundering enterprise through his company Liberty Reserve S.A. (“Liberty Reserve”), a virtual currency once used by cybercriminals around the world to launder the proceeds of their illegal activity.
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