Last Friday, the Wall Street Journal broke the story that Apple’s key executives, Eddy Cue and Jennifer Bailey, are actively involved in building a mobile payments business. This has led to rampant speculation that Apple is preparing for an imminent move into payments, and this is one of the rare occasions when rampant speculation and rumors should be considered fact. Why?
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Scarcely a week ago, the U.S. independent broker-dealer space witnessed one of the largest acquisitions in recent memory, culminating in RCS Capital's announced acquisition of Cetera's broker-dealer network. Since its inception in 2010, Cetera has acquired six separate broker-dealers (three from ING, one from Genworth, and two from MetLife). Separately, RCS Capital has been on an acquisition spree, with announced or completed acquisitions covering four broker-dealers (First Allied, Investors Capital, Summit Brokerage, and J.P. Turner) as well as the addition of advisors from another broker-dealer that has ceased operations.
Ever wondered what the cost of legislation like Dodd-Frank and SEPA is to financial institutions? The February 1, 2014 migration end date for SEPA is now the most urgent regulatory compliance issue facing treasurers and finance professionals. Similarly, the Dodd-Frank Act is showing itself to be a compliance problem for banks. So what is the real cost to financial institutions, and how does it affect them?
MiFID II’s impact on the clearing universe has been delayed as a result of a lot of last-minute wrangling on the part of vertical silo operators in continental European markets. Market infrastructure providers that operate vertical models for trading, clearing, and settlement, such as Deutsche Borse, have been granted a five-year reprieve from trading and clearing interoperability requirements that would force them to open their markets further to international competition. The stay of execution has been granted as a result of fierce lobbying, and the issue is unlikely to disappear from the cards in the near future as certain markets continue their campaign to protect national interests.
Today, Aite Group held a Twitterview with Julia Schieffer, editor of DerivSource.com, to discuss our recent report on the top 10 trends in institutional securities & investments in 2014. Via the Twitterview, a real-time interview via Twitter, we thought it would be fun to debate some of the trends that we see and discuss burning questions as posed by the derivatives trading media at DerivSource. More articles on related topics can be found on the DerivSource website.