Published
- 02:00 am
The SIGNAL IDUNA Group and the digital insurance platform, Element, announce their partnership. The aim of the partnership is the development and improvement of new products and services. Currently, Element submitted a license application under the German law on the supervision of insurance companies (VAG) to the German Federal Financial Supervisory Authority (BaFin) to be able to serve its partners in established divisions, such as private property, accident and liability, but also in new fields such as cyber risks.
- 05:00 am
The 7th EXTENT Software Testing and Trading Technology Trends Conference, co-organized by London Stock Exchange and Exactpro, has revealed the names of the first speakers.
The conference will bring together fintech professionals working at exchanges, investment banks, brokerages, clearing, buy-side and other financial organizations to share their experience in trading technology software testing, verification and reliability.
This year the conference program will include the talks held by chief officers and senior managers of
1. Exchanges and clearing houses:
- Sergei Poliakoff, CIO, Moscow Exchange
- Matthias Burghardt, Head of Xitaro Exchange System Development, Boerse Stuttgart
2. LSEG Capital markets technology & services:
- Thayaparan Sripavan, Head of Hardware Accelerated Systems, MillenniumIT
- Medha Kamat, Solution Architect, RiskIT, LCH
- Ferdinando La Posta, Co-founder and CEO, GATElab
- Iosif Itkin, CEO, Exactpro, LSEG
- Alexey Zverev, CEO, Exactpro, LSEG
3. Fintech companies and consultancies:
- David Snowdon, Founder and CTO, Metamako
- John Greenan, Chief Executive Officer, Alignment Systems
- Ted Pendleton, Senior Vice President, AlphaPoint
- Shalini Chaudhari, Managing Director – Technology, Accenture
- Paul Burleton, Head of Strategy, Regulatory, Risk & Compliance, GFT
- Vladimir Kurlyandchik, Director of Business Development, ARQA Technologies
- Arne Brutschy, CTO, RISE Financial Technologies
Hella Tobias-vom Scheidt
General Manager Financial Services at SAP
If insurance companies were asked to insure their own business models, premiums would be sky high for most carriers. Traditional contract-based business models are a risky bet. see more
- 05:00 am
Metamako, the leading specialist provider of high-performance networking platforms, has launched a new series of devices capable of running up to 3 powerful FPGAs on a single platform.
This configuration allows multiple performance-sensitive applications, such as trading algorithms, pre-trade risk checks or market data processing to run on a single device. Trading firms may programme all three FPGAs to operate in concert, bringing the combined power to bear on a single trading strategy.
The new range of devices leverages the latest FPGAs from Xilinx, the Kintex® UltraScale™ and the Virtex® UltraScale+™. Clients deploying the triple FPGA solution will benefit from near-zero latency links between each FPGA, and will see significantly reduced latency, compared with FPGAs connected via serial links.
Dave Snowdon, CTO of Metamako, says: “Having such a large amount of power so close to the network edge will revolutionise low latency and determinism in trading. To truly win the low-latency race, traders must connect directly to the exchange, using the shortest fibres possible. That means getting as much FPGA fabric as close to the exchange as possible.”
He continues: “Being able to offer the option of up to three large FPGAs marks our move into a significantly more powerful and faster FPGA-enabled networking and applications platform. Our clients and ecosystem partners will now have much more flexibility; for example, they will be able to scale up the number of trading apps, and run larger and much more complex apps. This will also reduce latency and allow ultra-fast, direct communication to exchanges. Combined with the capabilities of these cutting-edge FPGAs, application developers can avoid off-chip RAM, providing a leap in the performance of their FPGA-based applications.”
Metamako’s ground-breaking approach provides a sophisticated solution, with lower latency. It is also much simpler and considerably more convenient to implement compared to the traditional approach of using FPGAs embedded on PCI Express cards, thanks to having multiple components embedded in a single device.
All core Metamako features such as market data fan-out, scalable broadcast, connection monitoring, patching,tapping, time-stamping and deterministic port-to-FPGA latency of just 3 nanoseconds, can be leveraged - including between the FPGAs.
- 09:00 am
ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that its ICS BANKS Treasury System has been recognized as Sustainable Treasury Management Solutions Leader -MENA by CEO Insight.
The CEO Insight provides comprehensive coverage of the strategic management decisions facing the modern business leader. It provides practical assistance to CEOs and decision-makers, offering a treasury of articles highlighting business strategy, expert opinion, analysis, corporate case studies, emerging trends, leadership, growth opportunities and challenges. Where the Global awards acknowledge best practice and innovation across the European business community.
The publisher Mr. Jamie Harrison of CEO Insight, commented;
“ICS BANKS Investment & Treasury System leads in both customer experience and risk intelligence, automating treasury functions through front-mid-back offices; scaling to meet the needs of banks and financial services companies of all sizes. Combined with an intelligent modular suite of products, the ICS BANKS platform enables organisations to meet demanding liquidity and regulatory requirements while supporting robust risk management practices and changing compliance needs.”
Executive Director of Business Development at ICSFS, Mr. Wael Malkawi, commented;
“We are very proud of our double award achievement at the CEO Insight Global Awards 2016/17, where our ICS BANKS Treasury System has been awarded for “Sustainable Treasury Management Solutions Leader-MENA” and our Managing Director; Mr. Robert Hazboun who was recognised as one of the “Top 20 CEOs”. This kind of recognition says it all when it comes to our long-term commitment for excellence and providing integrated solutions and services to our customers”.
ICS BANKS provides a complete suite of banking modules with a rich sweep of functionalities and features, addressing business needs and automating accounting processes, as needed, to improve a bank’s business performance. ICS BANKS has always been a pioneer in utilising the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), the system is deployed in a multi-tiered setup that runs on a web thin client.
- 08:00 am
Quisk, Inc., headquartered in Silicon Valley and provider of a secure digitized cash payment network for banks and financial institutions around the world, announced today that it will begin incorporating Blockchain technology into its platform.
Praveen Amancherla, Quisk’s Chief Technology Officer, says that the addition of Blockchain distributed ledgers will enhance Quisk’s data integrity. “We are excited to be leveraging the tremendous power of Blockchain technology to propagate trust among our customer banks. This technology eliminates barriers, giving banks the ability to easily and securely access their transaction data,” he said.
“With this addition, Quisk transaction data becomes even more accessible to our customers,” according to Mr. Amancherla. “From here on, Blockchain will drive the Quisk Data APIs for our bank customers, supplementing Quisk’s Payment Services APIs. Quisk believes that Blockchain is the ’next Internet’ for the financial industry, and the tools to retrieve data from Blockchain will soon be as ubiquitous as web browsers.” Banks that leverage the Quisk Blockchain can use their existing customer touchpoints to accept or distribute money; or alternatively they can use Quisk’s existing “last mile” customer touchpoints on POS, online, SMS and mobile channels.
Cross-border remittances represent another market that Quisk CEO Steve Novak says is primed for disruption by Blockchain technology. “Most remittances involve multiple parties, and are slow and expensive. Blockchain provides a means by which we can streamline the process, thereby making these transactions faster and cheaper for the parties involved.” Mr. Novak notes that “unlike Bitcoin based transactions, the Quisk Blockchain will facilitate cross-border remittances in a regulated environment. “
- 04:00 am
OpenLink, the global leader in trading, treasury and risk management solutions for the financial services, corporate, energy, and commodities, industries has triumphed at the Financial Technologies Forum (FTF) News Technology Innovation Awards for the third consecutive year. The company took the category: Best Middle-to-Back-Office Integration Solution.
The news comes hot on the heels of the launch of OpenLink Cloud: the world’s first and most comprehensive enterprise Cloud platform for trading, treasury and risk management. It offers an integrated platform to support every aspect of the portfolio lifecycle, and reflects the trend among asset managers and other financial institutions to deploy a single, holistic option across their front-to-back operations. OpenLink clients are seeking the integration of middle-office and back-office functions to deliver infrastructure that is flexible and scalable for product, customer, regulatory change, and increasing product complexity. This means less data integration work for them from multiple systems across the portfolio, at a time when that focus is set on regulatory demands.
Rich Grossi, CTO at OpenLink said: “The needs of the market continue to evolve at a rapid pace, so our focus is on sustained investment and continually looking for ways to improve the platform. Our recent Cloud launch is testament to this, and we firmly believe that this will have a truly transformative effect on the market. The most important measure of success for us is the positive impact we’re having on our clients’ businesses, so we’re delighted to take the top spot in this readers’ choice award.”
The highly competitive FTF Awards are designed to celebrate and recognize the professionals, financial technology vendors, service providers, industry bodies and regulators that have made significant strides and noteworthy achievements in operational excellence during 2016.
- 02:00 am
TGE (Polish Power Exchange) and Nasdaq announced today that TGE has launched a new trading system provided by Nasdaq. Nasdaq has partnered with TGE since 2008. The new technology boosts TGE's markets performance capabilities and operational flexibility, allowing the exchange to expand future activities, including adding commodity and derivative instruments to its business offering.
The trading platform operated by TGE features comprehensive multi-market model support, a wide range of order type and asset types, market maker support, execution of derivatives market strategies, market data processing and integrated index calculator as well as comprehensive risk management and real-time position keeping and market control and supervision. Nasdaq's matching engine is the most widely-used worldwide, processing orders at the rate of 100,000 per second at sub-40 microsecond average latency.
"The implementation of a modern comprehensive trading system in cooperation with a proven partner marks a crucial business development step both for TGE and the participants of the markets operated by the exchange," said Dr Pawel Ostrowski, President of the Management Board of TGE. "The latest technology will allow us to face European regulatory challenges and offer the necessary flexibility in shaping our offering while providing the users with enhanced portfolio management options for selling and buying instruments traded at TGE."
In the second phase of introducing the advanced technology, Nasdaq will collaborate with TGE in implementing a new system that supports the electricity auctions for interconnections under the Market Coupling mechanism. The launch of the system, which is scheduled for late-June/early-July 2017, will enable the operation of a cross-border, day-ahead market according to the standards of the Price Coupling of Regions. TGE will start operating as a coordinating exchange under the European Multi-Regional Coupling project.
"This is an important milestone in our long-standing partnership with TGE," said James Martin, Regional Manager, EMEA, Market Technology, Nasdaq. "With the release of this new trading platform, we are proud to provide a fully integrated trading and clearing solution for the Polish market that supports TGE's efforts in addressing the changing regulatory landscape, as well as continuing to support their business growth in the region for the years to come."
Nasdaq's market infrastructure technologies, including trading, real-time risk, index, clearing, CSD and market surveillance systems are operated in over 100 marketplaces, regulators, clearinghouses and central securities depositories in the United States, Europe, Asia, Australia, Africa and the Middle East. Nasdaq is also the technology partner of IRGiT (Warsaw Commodity Clearing House), controlled by TGE, which has been providing clearing services with the use of the Nasdaq Packaged CCP system since June 2016.
- 02:00 am
State Street Corporation announced today the appointment of David Pagliaro to the role of head of State Street Global ExchangeSM for Europe, the Middle East & Africa (EMEA).
Pagliaro has nearly two decades of professional experience in financial services. Prior to joining State Street, he most recently worked for S&P Capital IQ for nine years. During this time, he held a number of roles, most recently global head of S&P credit solutions, where he managed a number of responsibilities including the commercialisation of research, data and analytics across the Americas, Asia-Pacific and EMEA. Before this, he was global head of corporate and commercial lending at the firm; and prior to this, senior director for its EMEA fixed income solutions.
Commenting on the appointment, Nolan said, “We are delighted to welcome David to our EMEA team. His wealth of experience across multiple segments of the financial industry will further strengthen our EMEA offering as we continue to grow our presence in this region.”
Plansky added, “We launched Global Exchange, our data and analytics arm, four years ago, recognising that the industry and our own business is evolving to become data-led. The demand for Global Exchange’s services and data has rapidly increased during this time, driven by factors including low return, the growth of passive and regulation among others.”
James (JR) Lowry, who most recently held the role of EMEA head of Global Exchange, will return to Boston to lead Global Exchange for North America and Global Exchange’s Innovation and Advisory Solutions team. He will also oversee State Street Associates® (SSA), the academic affiliate of State Street whose partners include renowned academics from the Harvard Business School, Massachusetts Institute of Technology’s (MIT) Sloan School of Management and Boston College. Lowry - who will report to John Plansky - will be returning to Boston in July after a comprehensive handover.
- 03:00 am
Path Solutions, an international core banking system provider for the Islamic financial services industry, today announced that its Group Chairman & CEO, Mohammed Kateeb, was named ‘Best Islamic Finance Technology CEO of the Year EMENA 2017’ by Global Banking & Finance Review.
Member of UK-based GBAF Publications Ltd, Global Banking & Finance Review is a leading print and digital magazine, which has evolved from the growing need to have a more balanced view for informative and independent news within the financial world. The Global Banking & Finance Review Awards reflect the innovation, achievement, strategy, progressive and inspirational changes taking place within the global financial community.
In recognizing Mohammed Kateeb, Wanda Rich, Editor at Global Banking & Finance Review, said, “Our awards recognise innovative and result-focused leadership emerging from the most prominent and vibrant areas of business; CEOs who have truly moved their organisations forward and whose vision and leadership empower those who are in direct contact with them. Kateeb is an example for others when it comes to leadership and best practices”.
Kateeb’s career and leadership is a textbook success story. He has employed his unique vision and brought together his diverse experiences to build a world-class business model for Path Solutions, growing it into one of the sector’s powerhouses, combining consistent innovation and the ability to adapt to market changes with a thorough understanding of industry’s trends and the company’s client needs. His passionate approach to leadership has thus propelled the organization to great success, ensuring Path Solutions’ position as a premium player in the segment.
“I am honored to be named ‘Best Islamic Finance Technology CEO of the Year EMENA 2017’ by the well-regarded Global Banking & Finance Review”, said Mohammed Kateeb. “This award is a testament to our company’s resiliency and perseverance and to our team’s collective efforts. I consider myself incredibly fortunate to lead such a bright team, working in a great segment. This achievement is also a direct reflection of the remarkable clients we get to work with, who continue to inspire us daily”.
Throughout his career, Kateeb has received a string of honours and recognitions, including the prestigious ‘Leadership Award 2017 in Information Technologies & Media’ by ISFIN and the ‘2016 Honorary Leadership Award’ by IFFSA.
The award winners list will be published in the December 2017 edition of the print publication. To view the full winners list online, click here: https://www.globalbankingandfinance.com/global-banking-finance-review-awards/
