News & Features

IBM Blockchain supports testing feature

IBM has released a new testing functionality on IBM Blockchain; the service delivered via IBM’s Bluemix platform providing tools for Blockchain developers. IBM Blockchain was first launched on April 29th, and is based on the Linux Foundation’s open-source Hyperledger project. Rashik Parmar, lead cloud advisor for Europe at IBM, said that IBM Blockchain allows firms »

MAS updates outsourcing requirements

MAS updates outsourcing requirements

The Monetary Authority of Singapore (MAS) has added a section on cloud computing to its newly updated guidelines for financial firms on outsourcing technology services and has scrapped its requirement that financial firms notify the MAS of new material outsourcing arrangements they enter into. The regulator had announced its intention to revise its 2004 outsourcing »

New York Fed to set new expectations for IT risk management by banks

New York Fed to set new expectations for IT risk management by banks

The Federal Reserve Bank of New York is understood to be working on revised and more detailed guidelines for financial firms in their management of outsourced IT risk, for release later this year. It is understood that that the New York Fed believes that banks need to do additional work to ensure they have the right risk »

FCA gives green light to the cloud

The FCA has published a paper on guidance for cloud outsourcing. The regulator has confirmed that it does not see any fundamental reason why cloud services cannot be implemented, as long as they are given: “Appropriate consideration, in a manner that complies with our rules.” According to the FCA, a lack of oversight over outsourced »

Round-up: Company News

SmartBear and Cognizant announce alliance The US testing software provider SmartBear Software and NASDAQ-listed consultancy Cognizant Technology Solutions have announced a strategic partnership. According to SmartBear, the companies hoped to combine SmartBear’s test automation and API quality tools with Cognizant’s delivery expertise to provide faster time to market for customers. Tricentis will i... »

OCC warns of heightened operational risk threats

The US Office of the Comptroller of Currency (OCC) warns of continuing elevated operational risk in its Semiannual Risk Perspective. The US regulator put special emphasis on business e-mail compromise (BEC), a type of cyber attack which has resulted in: “More than $2.3 billion in losses across all businesses, from October 2013 through February 2016, »

Opinion: Off-the-Shelf vs Open Source: “Meeting the productivity challenge”

Opinion: Off-the-Shelf vs Open Source: “Meeting the productivity challenge”

Productivity: we’re all going to be hearing more about it. And I will argue here that it’s a topic as relevant to the IT sector as any other. I have taken my headline “Meeting the Productivity Challenge” from the title of a summit meeting I attended this month, organised by the Confederation of British Industry. »

Round-up: Regulatory and Company News

The Securities and Exchange Commission has approved the Financial Industry Regulatory Authority’s (FINRA) proposed revision to clock synchronisation standards for systems that trade equities or securities. Previously, clocks were required to be synchronised to the National Institute of Standards and Technology atomic clock with an accuracy of one second. The new standard requires trading systems »

SEC fines Citigroup broker-dealer $7 million for trade reporting software fault

SEC fines Citigroup broker-dealer $7 million for trade reporting software fault

The US Securities and Exchange commission (SEC) has fined Citigroup’s broker-dealer subsidiary CGMI a record $7 million dollars for failing to submit accurate data in response to its electronic blue sheet (EBS) requirement. A software error resulted in Citigroup Global Markets, Inc. (CGMI) failing to submit reports for 26,810 securities trades over a 15 year »

Velocimetrics launches market data recording service for algo testing

London-based provider of trading analytics technology, Velocimetrics, has announced the launch of its mdPlay service, allowing market participants to record and store market data in real time. The data is recorded using a server that sits in the firm’s data centre. The data can then be re-used to test trading algorithms. The firm says the »

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