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From Sports To Business In An International Arena – Veronica Augustsson, Cinnober MarketsWiki Education,MWEd,Video,video

“The financial ecosystem is created by business people and it will be changed by technology. It is with technology that we will make a safer world, a better world, a more efficient world that we can trust even more.” Veronica Augustsson, the CEO of Cinnober Financial Technology, has a background in both computer science and sports and believes that businesspeople can learn from sports, because business is a team sport. One of the things that translates from sports to business is feedback. In sports, when you do something, you instantly learn whether it did or didn’t work, and that’s true…

Challenging the Status Quo: Cinnober Aims To Break Into The Back Office Clearing Space Feature

There was a time when many thought there wasn’t really much of a market for full clearinghouse solutions with real time clearing and risk management. But in 2007 and 2008, Cinnober successfully pushed into the space and carved out a nice niche for itself, especially as the global financial crisis illustrated the intense need for such solutions. Now, the company is pushing into the established space of back office clearing for clearing member banks and brokers. That space is essentially a duopoly owned by FIS, (formerly Sungard, formerly GMI and now called Stream) and ION, (formerly Rolfe & Nolan). And many…

Utility Player: FIS’ John Avery Sees the Derivatives Utility as a Driver of Innovation Interview,Tech / HFT,Video

In June of 2015, SunGard, now part of FIS Global, launched its post-trade derivatives utility, which aims to standardize back and middle office operations and technology, with Barclays as its first customer. According to FIS’ John Avery, it is not about commoditization so much as specialization. “If we look at the clearing market as an example, firms are really there to provide their balance sheet and client service, and use that as a differentiation tool,” says Avery. “What we don’t see is a need for those same firms to maintain a book of proprietary technology.” In other words, banks and…

Christian Nentwich, Duco – Selling Change to Giants MarketsWiki Education,video

“Many technology companies never make it over the first hurdle. They get so fixated on their technological achievement that they never find a business problem to solve.” The financial marketplace is in the midst of a technology-led revolution, as innovation and digital advances replace slow and inefficient systems and procedures with newer, faster, simpler and often more scalable ones. Christian Nentwich, founder of tech startup Duco, is a member of this new breed of market disruptors. But as he has learned, there are many, many facets that must come together between an idea, its implementation and, more importantly, monetization of…

Reconcilable Differences: Duco’s Christian Nentwich on what can be done to address reconciliation problems in the financial industry Interview,Tech / HFT,Video

Christian Nentwich, CEO and co-founder of Duco, says the reconciliation landscape today is behind the times and that large chunks of it are being done manually, sometimes by hundreds or thousands of staff at the bigger brokerage firms. In some places there is too little reconciliation going on, and in others there is too much, he told John Lothian News at FIA Boca. A few years ago, there was a big trend of outsourcing reconciliation to offshore locations, he said. But “sometimes its not happening at all, especially in things like interbook and intercompany trading activities,” he added. For example,…