R3, FCA Collaborate on Mortgage Transaction Reporting DLT Prototype

R3 and the UK's Financial Conduct Authority (FCA) have collaborated to develop a prototype for mortgage transaction reporting using distributed ledger technology (DLT). The prototype, built on R3's Corda platform, aims to address issues in the mortgage transaction lifecycle. Charley Cooper, managing director of R3, noted that the project resulted from discussions with the FCA, the Royal Bank of Scotland, and another global bank. The initiative highlights the potential of DLT in improving financial transaction reporting.

TGE Launches New Trading System Ahead of Harmonization Push

The Polish Power Exchange (TGE) launched a new trading platform with enhanced features and new tools, provided by Nasdaq. The upgrades include market-maker support, derivatives market strategy execution, market data processing, and risk management improvements. TGE's president, Pawel Ostrowski, emphasized the platform's role in complying with European regulations and enhancing portfolio management options. The upgrade will be completed in phases, with the second phase enabling TGE to operate as a cross-border, day-ahead market, aligning with the Price Coupling of Regions project to harmonize the European energy market.

Europe’s Far-Right Exploits COVID-19 for Anti-Refugee Propaganda

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Bitcoin Futures Face Turbulent Times in the Windy City

In late 2017, Chicago's major commodities exchanges, Cboe Global Markets' Chicago Futures Exchange and CME Group's Chicago Mercantile Exchange, were in a race to launch bitcoin futures contracts. This competition highlighted the growing interest and value in bitcoin, which had been breaking price records throughout the year.

Putting the Fintech House in Order

The fintech sector, once a burgeoning industry with intense competition, is now moving towards self-regulation and integration into the broader financial industry. The International Organization of Securities Commissions (Iosco) will hold a closed-door conference in Madrid to discuss global regulatory strategies.

AFTAs 2017: Best AI Technology Initiative—FIS

FIS' AI platform, Control Center, has been recognized for its innovative integration into financial corporations' technology stacks, enhancing operational efficiency through automation and machine learning. Northern Trust, one of the first adopters, uses the platform for global fund accounting, benefiting from streamlined processes and improved management of regulatory and reporting requirements. FIS plans to expand the platform's capabilities and its AI applications across other areas within its ecosystem.

AFTAs 2017: Best Front-Office Initiative—State Street Global Exchange

Lawrence, a researcher for portfolio managers, developed the Quantextual Idea Lab with State Street Global Exchange to address the challenge of portfolio managers not being able to effectively consume research. The platform is a research aggregator that combines machine-learning algorithms with human expertise for intelligent curation. It uses classification algorithms and natural-language processing to categorize research and allows collaborative communication among users. The Lab also employs researchers to provide human-curated conclusions, ensuring research summaries maintain nuanced perspectives.

New Dawn in Europe as Mifid II Goes Live

The revised Markets in Financial Instruments Directive and Regulation (Mifid II) has come into effect, significantly impacting European financial markets. Key changes include unbundling research costs, new trade surveillance, and reporting requirements. Industry experts express concerns about operational challenges and the potential devaluation of high-quality research. Regulators, including the European Securities and Markets Authority and the UK Financial Conduct Authority, indicate a lenient approach to initial non-compliance. Additionally, the European Benchmarks Regulation also goes live, introducing changes to financial benchmarks within the EU.

2017: A Year in Profiles

WatersTechnology's 2017 profiles feature interviews with leaders in capital markets across Europe, Asia, and the US, discussing technology, innovation, business strategies, regulations, and career paths. Key figures include Robert Scharfe of Luxembourg Stock Exchange, Keith Lubell of Berkery Noyes, Ian Thompson of Fidelity International, Anthony Johnson of JPMorgan, Jodi Richard of US Bank, Boon Chye Loh of Singapore Exchange, Josh Jacobson of Cheyne Capital, Kim Fournais of Saxo Bank, Christoph Boschan of Vienna Stock Exchange, Andrew Powers of Polen Capital, Furio Pietribiasi of Mediolanum Asset Management, and Steven Maijoor of ESMA. The profiles highlight significant achievements, challenges, and future directions in the financial services industry.