HSBC’s Swiss subsidiary HSBC Private Bank SA admitted Thursday that a former employee stole records on 15,000 clients and passed them to French government authorities.
The company apologized to its customers for the breach.
“We deeply regret this situation and … Read the rest
Tokyo’s new Arrowhead trading platform has cut trading costs by more than a third, according to a report released this week by New York-based investment technology provider ITG Inc.
According to ITG, Japanese trading costs were 36 percent lower during … Read the rest
Most financial companies have “vast gaps” in their privacy and data protection programs, according to a study released this week by security firm Compuware and Ponemon Institute, a research company.
The survey found that 83 percent of companies use real … Read the rest
FINRA arbitrators have ruled against UBS and in favor of its three former employees in a case of alleged theft of algorithmic trading code.
The three employees – Jatin Suryawanshi, Partha Sarkar and Sanjay Girdhar – were accused of “misappropriation … Read the rest
IBM Corp. is building a risk management system for Guotai Junan Securities in collaboration with Algorithmics, a Toronto-based provider of enterprise risk solutions. IBM says that the risk system for the Shanghai-based brokerage is its first for a Chinese securities … Read the rest
Under new guidelines from the Financial Industry Regulatory Authority on the use of social networks, securities firms must keep copies of all business-related communications on social networks, whether those communications are official or from “associated persons.”
But the securities industry’s … Read the rest
Let the worries begin. The European Commission Thursday approved the $7.4 billion merger between database giant Oracle and long-time Wall Street denizen Sun Microsystems.
“I am now satisfied that competition and innovation will be preserved on all the markets concerned,” … Read the rest
Since 2007, 18 new electronic competitors, most known as multilateral trading facilities, have emerged to challenge the London Stock Exchange for trading shares of the 2,825 international and domestic companies listed with it. One, Chi-X Europe, has taken away nearly … Read the rest
All trading on the SIX Swiss Exchange was halted Thursday afternoon due to a technical malfunction, the exchange reported. The shutdown also affected Scoach Switzerland Ltd.
Trading was halted at 2:43 p.m. Normally, trading runs until 5:30 p.m.
According to … Read the rest
Despite promising to do so, the LSE by the end of Wednesday still had not revealed the cause of a server failure that halted trading in 300 stocks on Monday.
Trading halted at 3:04 p.m. Monday afternoon when the server … Read the rest