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In the first of a five-part series, SEI discusses the impact of five disruptive technologies and how they can be applied to the financial industry. The first of these five trends relates to IBM Watson, and the power of cognitive computing.  Cognitive computing and machine learning capabilities are becoming so great that even Elon Musk has raised concerns.  Speaking recently at Recode’s Code Conference, he said: “I don’t know a lot of people who love the idea of living under a despot,” the inference being that self-awareness super-computers could become a malign force; think creepy-voiced HAL9000 in the seminal movie,
As Project Sentinel completes the first round of assessments of potential technology partners, the initiative has seen an increase in consortium numbers from the original four to seven banks to eight to 10 in the current phase.  The initiative to mutualise the cost of MiFID II implementation in the OTC front office is now moving forward with its plans to create a best-of-breed technology solution in collaboration with its short-listed vendors, which include software development houses as well as off-the-shelf suppliers.   The process started with a long list of 40 vendors, which has now been whittled down to two potential solutions.
Artivest, a tech-driven investment platform providing access to alternative investments, has appointed Jon Feigelson as general counsel and chief compliance officer. Feigelson joins from TIAA, where he most recently served as senior managing director, general counsel, head of regulatory affairs, and director of corporate governance.   At Artivest, Feigelson will be responsible for providing strategic, regulatory, and transactional legal counsel across the firm's alternative investment offerings.   Feigelson brings over 20 years of legal, compliance, and governance experience in the financial services industry to Artivest. Prior to TIAA, Feigelson served as managing director and general counsel for ABN AMBRO Bank's
Wedbush Securities’ prime brokerage team has been voted "Best North American Hedge Fund Research Provider" at the Hedgeweek USA Awards 2016. The annual awards ceremony, which took place in New York, recognises excellence among service providers and hedge fund managers globally, and acknowledges distinction in over 50 award categories.   The awards are determined by a "peer review system," where industry professionals, including managers at fund administrators, institutional and high net-worth investors, prime brokers, and advisers, elect a "best-in-class" in a series of categories (http://www.hedgeweek.com/awards).   "We are honoured and greatly appreciate the recognition we have received from Hedgeweek USA,"
Gemini Alternative Funds has won the 2016 Hedgeweek USA Award for Best North American Managed Account Platform. Representatives from Gemini Alternative Funds were on hand to accept the award at a ceremony in New York City on 15 September 2016.   Institutional investors and fund managers who read Hedgeweek voted online to choose winners of the publication's annual awards. Gemini Alt's dedicated managed account offering and its Galaxy Plus Fund Platform offering received more votes from these audiences than any other contender in the North American managed account platform category. Gemini Alt's platform was launched in November, 2013 and services
The UK’s HM Revenue & Customs (HMRC) has designated the Gibraltar Stock Exchange (GSX) as a recognised stock exchange under the Income Tax Act 2007 (ITA). The designation extends to the entire Gibraltar Stock Exchange and is a significant development that allows GSX to expand its services and offering to issuers.   In particular, HMRC recognition extends eligibility to the UK SIPPs and ISAs market for GSX-listed securities.   The decision follows recognition of GSX by ESMA in January 2015 and the Cayman Islands Monetary Authority (CIMA) in March 2015.   Nick Cowan (pictured), managing director of GSX, says: “GSX’s
Governance, risk and compliance services provider Cordium has appointed Stephen Squire (pictured) as vice president, head of broker-dealer consulting. Squire will be working out of Cordium’s San Francisco office.   Squire brings a wealth of insight into the broker-dealer space based on two decades of experience in the industry. Prior to joining Cordium, Squire worked at FINRA while attending law school. He has also served as the head of legal and compliance for a variety of broker-dealers and investment advisers.   His experience also includes tenures with several regional securities firms throughout the country. In 2013, Squire started his own consulting
The Chicago Board Options Exchange (CBOE) is planning to launch options on the FTSE Emerging Index on 26 September 2016.  The FTSE Emerging Index is a market-capitalisation weighted index representing the performance of large and mid-cap companies from advanced and secondary emerging markets.   The FTSE Emerging Index (FTEM) includes approximately 972 securities from 22 countries, as of 31 August 2016, and covers a range of industries, from commodities to banking to technology.   The index is derived from markets within the FTSE Global Equity Index Series (GEIS), which gives investors a comprehensive way to measure the performance of the
TMX Market Insights has named John Willock as director, TMX Datalinx – the company’s real-time data offering – effective 26 September 2016. Reporting directly to Eric Sinclair (pictured), president, TMX Market Insights and group head of information services, TMX Group, Willock will be responsible for managing the suite of TMX Datalinx real-time products and services, including all equities, derivatives and TMX Information Processor feeds.   “John brings vast international experience in market data to the TMX Market Insights team,” says Sinclair. “We are extremely excited to have him join TMX and look forward to incorporating his unique perspective into how
KCG Holdings has completed the acquisition of Neonet Securities, an independent agency broker and execution specialist based in Stockholm, Sweden. The Neonet business, which will operate as a subsidiary of KCG and be renamed KCG Neonet, will continue to be based in Stockholm and led by CEO Tim Wildenberg.     KCG Neonet provides clients with global execution services and capabilities, leveraging KCG’s expanded foothold in continental Europe and the technologies of both businesses.      Philip Allison, chief executive officer of KCG Europe, says: “Neonet’s talented team of specialists and commitment to client service make them an ideal strategic

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