Solutions
Bermuda is embracing the blockchain revolution, and creating a robust and fit-for-purpose legal and regulatory framework governing initial coin and token offerings (ICOs) and digital asset businesses.
Fintech businesses could, according to Scott Watson-Brown (pictured), PwC Bermuda’s Asset Management leader, become the next pillar in Bermuda’s economy, “and we are invested in supporting its growth.”
“Fintech by definition is broad, but at PwC we are of the view that it could provide a gateway for innovators and entrepreneurs to forge opportunity and drive positive change.”
Indeed, the same features that have made Bermuda a successful centre for insurance, asset management
The primary mission for the Bermuda Business Development Agency (BDA) for 2019 is clear: to welcome more international business to the island, following the implementation of new economic substance rules that will see a bolstered physical presence by companies across industry sectors.
“We want to move the needle and encourage more firms to set up operations here, with boots on the ground,” explains a BDA spokesperson.
“That has always been the main objective of the BDA, but it has taken on greater significance since the directive from the EU that Bermuda-registered companies engaged in specified income-generating activities (including asset management)
Bermuda is the latest jurisdiction to update its regulation in response to the rising prominence of blockchain technology innovation and Initial Coin Offerings.
The Companies and Limited Liability Company (Initial Coin Offering) Amendment Act, 2018 (the “ICO Act”), came into force on 9th July last year, providing a framework for the regulation of ICOs in Bermuda. The ICO Act regulates offerings of ‘digital assets’, a term that applies to all categories of digital coins and tokens (whether they be utility, securitised, equity or otherwise) being issued as ICOs and via token sales.
Other jurisdictions, including the Cayman Islands, have taken steps to
Cryptocurrency exchange BEQUANT has appointed Daniel Clayden as its new Head of Product Development.
With 25 years’ experience in Capital Markets and Financial Services Technology, Clayden’s appointment will strengthen the company’s growing roster of products in the cryptocurrency market.
Clayden has previously held roles at a number of Tier 1 Investment Banks, including JP Morgan and Credit Suisse. Before joining BEQUANT, he was Managing Director at IT Consultancy Levvel.io, and an Executive Director at Morgan Stanley. Whilst at Morgan Stanley, Daniel was responsible for Non- Equity Front Office Risk within the Front Office Derivatives Technology Group.
Clayden’s diverse
Linedata (Euronext Paris: LIN), a provider of credit and asset management technology, data and services, is partnering with ICE Data Services to provide a broad set of high-quality data and analytics to Linedata’s clients.
Linedata’s strategy of combining technology, services, and data takes a significant step forward with this addition of comprehensive data and analytics from ICE Data Services.
Global asset managers use data as a strategic asset to facilitate critical investment decisions, improve operational effectiveness, and mitigate risk. With this agreement, Linedata expands its data business offering to provide ICE Data Services’ fixed income evaluations, reference data, OTC derivatives
Chicago-based independent futures brokerage and clearing firm RJ O’Brien & Associates’ (RJO) private client division, RJO Futures, is offering Orion Trading Systems’ flagship platform, Orion Multi-Trader powered by dxFeed’s data.
“We are continually striving to offer innovative tools for active futures traders and are excited to offer the combination of dxFeed’s consolidated market data feed and Orion Multi-Trader as part of the RJO Futures suite of third-party platforms,” says Donna Heidkamp (pictured), Executive Director of RJO Futures.
Paresh Malde, CEO of SU2 Systems, says: “Orion Multi-Trader offers RJO Futures clients comprehensive features including charting, depth of market, option analytics
Invast Global, a multi-asset prime brokerage firm in APAC, has selected OneTick Surveillance, to be hosted and fully managed by OneMarketData.
With increased regulatory requirements and pressures placed on financial services firms, Invast Global can now ensure that all trades carried out globally are protected and monitored appropriately as part of an auditable workflow.
Invast Global will take advantage of the OneTick Surveillance integrated web dashboard designed for the efficient review of surveillance alerts, rapid examination of new alerts and for assigning, reviewing, annotating and archiving them to meet compliance obligations. The solution includes pre-built, configurable alert rules and monitors along
Cappitech, a provider of regulatory reporting and intelligence solutions for the financial services industry, has launched Insights, a product that aims to allow compliance teams and risk managers to gain a competitive advantage by improving regulatory reporting and allowing them to benchmark their performance to their peers.
Following the introduction of MiFID II over a year ago, the focus of financial institutions has moved from simply complying with regulatory requirements to improving the data quality of reports. As such, there has been strong demand for a tool to help them monitor submissions, identify key areas for improvement and track their
Singapore Exchange (SGX) has acquired a 20 per cent stake in BidFX, including an option for additional shares to gain a controlling interest, for a total cash consideration of USD25 million.
The strategic investment is part of SGX’s strategy to build core pillars of growth across multiple asset classes. BidFX, a specialised trading platform for global FX markets, plans to utilise the funds to further grow its reach and offering among institutional investors.
BidFX was spun off as a division of TradingScreen (TS), a provider of a multi-asset execution and order management system, in January 2017. It offers a
Thasos, an alternative data intelligence firm that transforms location information from mobile phones worldwide into real-time, objective and actionable insights, is to offer geolocation data on FactSet’s Open:FactSet Marketplace (OFM).
The OFM will feature Thasos’ ConsumerStreams product, which covers over 120 publicly-listed consumer companies, providing daily foot traffic data from their US locations, with historical data available back to 2015 for time series analysis. The agreement is emblematic of the rapid growth in the use of alternative data, as banks and traditional market data firms strive to provide a complete picture of economic and business activity for their investor clients.
