Posted on December 10th, 2009 by dan barnes
Word has it – from respectable sources – that Michel Barnier, the incoming Internal Markets Commissioner, thinks Stock Exchanges should be part of the national infrastructure. Hmm. In some eyes, an exchange should assist with the creation of an orderly market. You can certainly put a case for MiFID creating a disorderly market. Outgoing Commissioner Charlie [...]
Filed under: Exchanges, MiFID, regulation, Securities & Capital Markets | No Comments »
Posted on December 9th, 2009 by tom groenfeldt
In Financial Speculation, Gerald Ashley has some advice for investors. But he doesn’t really expect them to take it. With 30 years experience in finance, including Baring Brothers in London and Hong Kong and the Bank for International Settlements, he knows his way around the markets. Despite the changes in technology – fast computers and [...]
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Posted on January 19th, 2009 by tom groenfeldt
“What keeps you awake at night?” In interviews with more than 1,000 C-level executives at firms around the globe – including 54 financial institutions – IBM researchers trotted out that standard question. Quite a number of deep issues, it turns out. “A very high number of financial services executives, 80%, is figuring out what their [...]
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Posted on December 31st, 2008 by tom groenfeldt
Technology behemoth Microsoft’s approach to capital markets is strategically flawed and poorly executed, according to a sharply critical report from Aite Group. Microsoft responds that the report is error-prone – it talks about stock options which Microsoft dropped several years ago in favor of stock grants, and its estimate of Microsoft’s spending in capital markets [...]
Filed under: Securities & Capital Markets, Suppliers, Technology | No Comments »
Posted on October 31st, 2008 by fabien buliard
Less than a year after Jérôme Kerviel’s exploits at SocGen made the headlines, it is now another French banking group, Caisse d’Epargne, that is reporting a violation of its internal rules leading to a €751-million loss related to derivatives trading. Traders allegedly exceeded their limits, internal controls have failed, and charges have been pressed. Sound [...]
Filed under: Credit Crunch, risk, Securities & Capital Markets | No Comments »
Posted on August 19th, 2008 by tom groenfeldt
With banks having lost half a dozen years’ profits since last August you might believe headlines which suggest that they are prepared to scale back business. Ah, but that does miss a key point. The banks may have lost, but the bankers didn’t lose past salary and bonus pay. So while it is inspiring to [...]
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Posted on May 16th, 2008 by tom groenfeldt
Philippe Carrel, SVP at Thomson Reuters, has been rounding up bankers, quants and technologists in New York and London to gauge the satisfaction with existing information on structured assets (very low) and create some standards that market participants can agree upon. Everyone knows Black-Scholes has some underlying problems but it provides an accepted way to [...]
Filed under: risk, Securities & Capital Markets | No Comments »
Posted on April 25th, 2008 by fabien buliard
As the equity trading industry gathered at TradeTech in Paris this week to discuss the latest developments in terms of liquidity pools, new trading venues, smart order routing or low latency, it is interesting to note comments made about financial markets by European political and business leaders in recent weeks. The departing chairman of insurance [...]
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Posted on April 17th, 2008 by tom groenfeldt
Which parts of the FSA’s guidance is a firm expected to follow? That’s what one attorney asked Roseanne Harford, Manager, Strategy and Risk Division – at the FSA during Tuesday’s MiFID Forum in London. The FSA relies on informal guidance which creates the risk of a soup of materials that firms find difficult to navigate, he [...]
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Posted on April 17th, 2008 by tom groenfeldt
Wholesale markets in Europe have done well under a gentle regulatory regime, David Wright, deputy director general, EU Commission told The Forum, a MiFID event Tuesday. European markets grew twice as fast as GDP and faster than markets in the US. “It is a pretty staggering change from where we were 10 years ago.” But [...]
Filed under: regulation, Securities & Capital Markets, Technology | No Comments »
