Technology

  • Commission picks Mustier and other bank execs for CMU forum

    Commission picks Mustier and other bank execs for CMU forum

    The European Commission has selected a group of 28 financiers and other specialists for a high-level forum on the capital markets union, among them a handful of senior bankers. It will have three sub-groups, focusing in particular on SMEs, fintech and retail investors.

  • Qontigo hires new index head

    Qontigo hires new index head

    Deutsche Börse-owned financial intelligence provider Qontigo has appointed Stephan Flägel as global head of its indices and benchmarks.

  • Funding Circle breaches securitization limit as it switches from servicer to sponsor

    Funding Circle breaches securitization limit as it switches from servicer to sponsor

    Funding Circle has breached the terms of its securitization SBOLT 2018–1 — a book of loans originated on the platform and was bought by Pollen Street Capital’s P2P Global fund. The breach was driven by a shift in the company’s business model from a pure tech platform to a non-bank lender using its own capital. Funding Circle has asked investors to waive the breach.

  • Michael Spencer backs Berman’s end to end fintech platform for bonds

    Michael Spencer backs Berman’s end to end fintech platform for bonds

    Agora, the digital debt capital markets platform being developed by bond market veteran Charlie Berman, has closed its initial seed funding round with contributions from a small group of individuals, including Michael Spencer, the founder and former CEO of interdealer broker Icap, which later became Nex Group.

  • Distressed loan trading leaps forward as new tech tool slashes settlement time

    Distressed loan trading leaps forward as new tech tool slashes settlement time

    Distressed loans using US documentation are some of the slow trades to settle in the capital markets, with an average time of 67 days, reflecting onerous legal requirements under the Loan Syndication and Trading Association standard terms. A new tool released by IHS Markit as part of its ClearPar loan settlement platform has the potential to slash this delay, with a recent trade by Deutsche Bank taking just 10 days to settle.

  • Xi gives backing to blockchain as Chinese digital currency nears

    Xi gives backing to blockchain as Chinese digital currency nears

    Chinese president Xi Jinping triggered a jump in the prices of blockchain-related stocks this week after hailing blockchain as the centrepiece of the country’s technology innovation in a Politburo study session. Xi's comments came as the People’s Bank of China plans to roll out its central bank digital currency.

  • EDDI: harmonisation or fragmentation?

    One of the main aims of the European Distribution of Debt Instruments Initiative (EDDI) is to achieve greater harmonisation across eurozone bond markets. But if there is no incentive to use it, EDDI will become just another platform.

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