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Author Archives: Sarah Rudolph

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Rudolph is managing editor of John Lothian News (JLN).

GreenKey CEO Focused on Using the Cloud for Next-Gen Voice Broking Data Standard

For years people have been predicting the demise of voice broking, but to a great extent what has happened is smaller voice broker desks are doing the same amount of work. This calls for more efficiency and a creative use of technology, according to Nader Shwayhat, the CEO of Green Key Technologies. Since the company began, GreenKey has focused on combining voice and data, and in 2017 they plan to start extracting data within voice conversations and integrating it into customers’ screens. For the most part, Shwayhat said, only about 10 percent of the information from voice conversations ever makes…

Paxos using blockchain to fix problems in capital intensive businesses Standard

Charles Cascarilla, CEO of the fintech company Paxos, says the current way of dealing with back and middle office post-trade processes is too manpower-intensive and is hindering businesses. He believes blockchain is the solution to some of the problems affecting capital-intensive businesses. Since the financial crisis, exchanges have eliminated 10 percent of costs out of the front office but only five percent out of the back and middle office, because firms are using old technology, Cascarilla said. Enter blockchain, a distributed ledger that lets everyone use a shared books and records system, getting rid of the need for different firms…

JLN Exchange Leader Series 2017: Romnesh Lamba – Finding Opportunities in HKEx’s Relationship with China Standard

For Hong Kong Exchanges and Clearing (HKEx), the biggest initiative in 2016 was the launch of Hong Kong-Shenzhen Connect, a trading link designed to give foreign investors greater access to shares listed on the Chinese mainland.  Hong Kong-Shenzhen also joined with the Shanghai-Hong Kong Stock Connect, so there are now “four pipes – two going Northbound, with international investors trading Chinese equities, and two more coming Southbound,” Romnesh Lamba, co-head of market development at HKEx, told John Lothian News at FIA Boca 2017. “Volumes associated with that program have really picked up,” Lamba said. “They are almost triple the levels…

JLN Exchange Leader Series 2017: SGX’s Syn Says Trade Barriers Mean Opportunities for Offshore Exchanges Standard

Singapore Exchange’s Michael Syn says that when economic barriers to trade come down, offshore jurisdictions like SGX can benefit by showing their worth for hedging exposure. The “big three” Asian markets – India, Japan and China – taken together account for about 25 percent of world GDP and 40 percent of world population. But each is regulated very differently and therefore the elements of risk in those countries will not be proxies for each other, Syn said. Each will behave in a distinct way. This makes it difficult for investors to hedge risk among them, which is where SGX comes…

Attention To Detail: High Performance Requires Hard Work – Rolf Andersson, Goldman Sachs Standard

“I can’t stress enough the importance of being really good at software in one form or another, whether it’s managing, running projects or sponsoring projects.” Rolf Andersson of Goldman Sachs is a software architect, and he says that software is taking over the world. But all the competition out there is making it much harder to innovate than it was a number of years ago. You have to have a good idea, plus the stamina and expertise and experience. And a good team. Although there are a number of factors one has to take into account when designing software, such…

Everything You Always Wanted to Know About Blockchain But Were Afraid to Ask – Johan Toll, Nasdaq Standard

“Instead of having the financial economy we see today with a lot of intermediaries, local custodians and global banks, this could all be replaced by a peer-to-peer community. It’s a massive revolution that probably will happen to our financial industry.” Nasdaq’s Johan Toll became a blockchain expert almost by accident. In April of 2014 he sent an article about blockchain from a Swedish technology magazine around to his business unit, saying, “I think this is something interesting we should start looking into.” A couple of weeks later someone from sales called him and said he had a client who was…

Is FinTech a Threat to Banks? – Evelin Kaup, Nordnet Standard

“Yes, fintech is a threat to banks. It’s disturbing the industry – but for the better. It’s speeding up the banks so they need to adapt faster, and we need to run faster to stay around.” Evelin Kaup of Nordnet said the question of whether fintech is a threat to banks is being discussed at nearly every industry event these days. So far, the fintech companies have said yes while the banks have been saying no. But that may be changing. The threat from fintech companies is that they can offer what the banks’ customers want, but without all the…

Stockholm: The Origin and Global Leader of Transaction Technology – Peter Fredriksson, Baymarkets Standard

“The market has moved from transaction to a lot of other parts of the transaction chain – to pre-trade, post-trade, clearing and post-clearing.” Peter Fredriksson, CEO of Baymarkets, says OM, the company that eventually became Nasdaq OMX, basically invented transaction technology. In his view, Stockholm and more broadly, Sweden, have been pioneers in automating the financial markets and making them more efficient. Stockholm was even early in the exchange merger and acquisition space, paving the way for OM to acquire the Stockholm Stock Exchange. And that led to industry innovators like ORC (now Itiviti), Sungard (now FIS) and TriOptima (now…

CFTC Commissioner Bowen Outlines Disruptive Derivatives Developments at Brodsky Family Lecture Standard

The fate of financial regulations, and specifically the Dodd-Frank Act, under the Trump administration is one of the biggest questions facing the industry and investors.  CFTC Commissioner Sharon Bowen addressed that question in a speech at the Northwestern University Pritzker School of Law last night as part of the Brodsky Family JD-MBA Lecture Series. Bowen earned her law degree at Northwestern’s Law School and is a strong supporter of the school. In addition to her role at the CFTC, she was also acting head of the Securities Investor Protection Corporation, chartered by Congress to help protect U.S. investors from brokerage…