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Calypso, R3 partner to build blockchain trade confirmation system

Calypso Technology has become the first firm to partner with R3 to develop capital markets applications on its Corda distributed ledger-based smart contract platform.
Intermediaries > ECN & Exchanges > News

Bank of America Q2 profit falls 19%, led by low rates

By IB Staff Writer

Bank of America has reported 19% decline in its net income for the second quarter of this year, as it continues to struggle with prolonged low interest rate period.
Banking Services > Retail Banking > News

IPC launches cloud service for ETF trading

By IB Staff Writer

IPC Systems has announced the launch of a financial markets cloud service for securely and reliably trading exchange-traded funds (ETFs).
Intermediaries > ECN & Exchanges > News

FHLBank Topeka teams up with OpenLink for derivatives solutions

By IB Staff Writer

OpenLink has announced that the Federal Home Loan Bank of Topeka (FHLBank Topeka) has selected its debt and derivatives solution as part of the bank’s drive to streamline its technology landscape and improve operational efficiency.
Intermediaries > ECN & Exchanges > News

Rabobank acquires 5% stake in Kepler to boost ECM offerings

By IB Staff Writer

Rabobank and Kepler Cheuvreux announce they have entered into a strategic partnership that significantly enhances Rabobank’s Equity Capital Markets (ECM) offering in the Benelux, Europe and the US.
Intermediaries > ECN & Exchanges > News

Toronto Stock Exchange rolls out centralized mutual fund platform

By IB Staff Writer

Toronto Stock Exchange (TSX) has announced the launch of its new centralized mutual fund solution, TSX NAVex, designed to introduce operational and cost efficiencies in the processing of mutual fund transactions.
Intermediaries > ECN & Exchanges > News

US appeal court reinstates Libor rigging case against 16 global banks

By IB Staff Writer

In a major setback to 16 global banks, a US appeals court has reinstated lawsuits against them for alleged manipulation of the benchmark interest rate, London Interbank Offered Rate (Libor).
Intermediaries > ECN & Exchanges > News

Seven banks agree to pay $324m to settle rate rigging lawsuit

By IB Staff Writer

Seven major banks have agreed to pay $324m to settle a lawsuit that accused them of manipulating of interest rate benchmark in the derivative market.
Intermediaries > ECN & Exchanges > News

JP Morgan partners with Academy Securities to offer portfolio trading services

By IB Staff Writer

Academy Securities, a disabled veteran owned and operated broker dealer, and J.P. Morgan, a leading global financial services firm, announced an extension of their existing relationship that is aimed at offering portfolio transitioning and rebalancing services.
Intermediaries > ECN & Exchanges > News

Citi appointed as depositary bank for Grupo Bimbo’s ADR program

By IB Staff Writer

Citi, acting through Citibank N.A., has been appointed by Grupo Bimbo S.A.B. de C.V. as the depositary bank for its sponsored Level 1 American Depositary Receipt (ADR) program.
Intermediaries > ECN & Exchanges > News

Northern Trust closes acquisition of Aviate Global

By IB Staff Writer

Northern Trust announced the successful closing of its acquisition of Aviate Global LLP, an institutional equity brokerage firm offering market research and execution services with offices in London, New York, Hong Kong and Sydney.
Intermediaries > ECN & Exchanges > News

BlackRock launches iShares sustainable MSCI global impact ETF

By IB Staff Writer

BlackRock has expanded its suite of socially responsible ETFs with the launch of the iShares Sustainable MSCI Global Impact ETF (MPCT).
Wealth & Assets Management > Asset Management > News

Goldman Q1 profit falls 56% due to weak trading and investment banking activity

By IB Staff Writer

Goldman Sachs reported a 56% drop in its net income for the first quarter this year, as its main businesses, investment banking and trading came under pressure due to concerns over global economic slowdown.
News

Morgan Stanley to pay $2.6bn in settlement over deceptive conduct

Morgan Stanley has agreed to pay $2.6bn to settle charges over deceptive practices in the marketing, sale and issuance of residential mortgage-backed securities (RMBS) in the years before the financial crisis.
Intermediaries > ECN & Exchanges > News

US regulator imposes fine on US Bank and Santander to settle mortgage servicing issues

By IB Staff Writer

The US Office of the Comptroller of the Currency (OCC) has slapped fines of around $14m on the US Bank National Association (US Bank) and Santander Bank to settle mortgage servicing-related issues.
Intermediaries > ECN & Exchanges > News

BBR White Paper Recommendations

Revenue Leakage – Opportunity Calling! By Suntec
Revenue Leakage has been a universal phenomenon, gnawing up the profit margins of transaction-based industries, especially across their business support systems. Though the Banking industry people are particularly quick in acknowledging the glaring prevalence of revenue leakage, they are not able to pinpoint its source or quantity, or chart methodologies to ensure Revenue Assurance.... Banking Services > Commercial Banking > White Papers Customer Profitability Vs. Customer Satisfaction: Keep Guessing or Model your Pricing Strategies By Suntec
Most financial institutions do not have a clear understanding of what or who drives their profitability. They make assumptions or guesswork, and most of the time, try and fix their profitability metrics into the 80/20 rule or something similar — the majority of profits (80%) come from a minority (20%) of customers, products or business segments. Is profitability as simple as this? While there is no denying the 80/20 rule, how does an organization find this 20%? ... Banking Services > Commercial Banking > White Papers Banks - Reward Your Customers Incrementally, Based on Their Profitability By Suntec
Financial Institutions (FI) are on the verge of a strategic make-over. The market conditions imply an increased need to generate revenues and customer profitability, to ensure sustainability and future business success. In order to achieve these objectives, the FIs need to devise strategies that leverage customer relationships in a way that has never been done before. ... Banking Services > Commercial Banking > White Papers Achieving Measurable Gains by Automating Claims Processing By Kofax
Moving to a fully automated process is a goal for claims processing of nearly all insurance executives. Companies are at various levels of automation and often do not have an appropriate strategy to achieve higher levels of automation. This white paper identifies seven levels of claims automation and provides a roadmap that can be followed to enhance claims processing. This straightforward approach can be used to increase the likelihood of successful automation. Download this free white paper from Kofax to find out more.... White Papers Customer Centricity: The Key to Success in Retail Banking By Kofax
The economic slowdown has forced many banks to redirect their focus to retail banking and reinvent themselves as customer-centric organizations. But many institutions still use legacy infrastructures and processes that hinder necessary readjustments, in particular with regard to information exchange and customer communication. This white paper explains how these difficulties can be overcome, and how banks and financial institutions can reengineer core IT and business processes to support their business objectives. Download this free white paper from Kofax to find out more.... White Papers See more

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