These days, blockchain is a blockbuster at banks. Financial institutions are spending time and resources to find out how much business they can gain by adopting this new technology. This hype on the bank side might not correspond to similar interest from corporations. Nor it is clear whether it creates similar business opportunities for either side. My ongoing research investigates how large the (usual) gap is between banks and their corporate clients, assessing to what degree blockchain technology is part of corporate practitioners’ domain expertise. It looks like, however, banks and corporations are not the only ones involved.
In the sage words of the great King Julien (king of the Madagascar lemurs), we ask of the following financial market and regulatory efforts, "How long is this going to take?!”
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As we approach the final weeks of the year, the Aite Group team took a look back on the big events in retail banking and payments in 2015. What a year it was! Here’s a roundup of some of the notable events, all of which have the potential for long-term ripple effects.
- U.S. Federal Reserve publishes faster payments roadmap.
- Google partners with AT&T Wireless, Verizon, and T-Mobile USA for Wallet.
- Samsung acquires LoopPay and sets the stage for a differentiated mobile payments play (and future data breach headlines).
- CostCo announces end to U.S. partnership agreement with Amex.
Much has been made about the Tullet-ICAP transaction for 1.1 billion pounds (subject to regulatory scrutiny/approval), and indeed it does represent both of the following:
- A huge IDB (interdealer broker) consolidation, with Tullet getting ICAP’s ~1,500 voice brokers
- A relatively easy transition from ICAP NewCo (to be renamed later) away from voice broking and toward pure-play electronic trading
There has even been speculation of LSE closing in on ICAP NewCo.
In just one hour on November 3, 2015, in the first federal criminal prosecution for disruptive trading of high-frequency trading (HFT) spoofing, a Chicago jury found Michael Coscia, of Panther Energy Trading in New Jersey, guilty on all counts of spoofing on the CME.
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