Technology Archives - The Industry Spread

Former TradAir CEO Viral Tolat Launched New AI Tech Firm

June 8, 2019

Viral Tolat one of the original co-founder of Silicon Valley based FX software and technology service provider Integral Development Corp and former CEO of UK based FX & Crypto trading firm TradAir has moved on to a new venture. Viral has now established a new firm called Neural Engines – a company that is focused on creating a platform for building applications. The content of firm’s website shows that they are on to some unique and exciting plans and prospects despite still being on their early days.

Spotex Hires & Appoints Kevin Gillespie as Director of Sales for European Expansion

June 8, 2019

US based Forex trading technology provider Spotex which focused primarily on ECN operation and communication network has now announced that it has hired Kevin Gillespie to spear head its expansion activities in Europe. The firm is known for its products which help brokerages and dealers profit from improved trade execution speed, transparency and reduced cost by enabling participants to focus on trading strategies. Given its efforts over the last decade, the firm has managed to gain significant client base and market share in North American market and is now focusing its efforts into expanding its market share in European market. In a bid to hasten expansion activities in European market, the firm has hired Kevin and appointed him as Director of Institutional sales in their London office.

UK’s TSB Bank Appoints New COO and Customer Banking Director

May 27, 2019

UK based TSB bank, the banking division of Spanish Sabadell Group which caters to both retail and commercial clients in England, Scotland and Wales has appointed new COO and Customer Banking Director. Post its IT fiasco in early 2018 which resulted in the bank losing over 330.2 Million British Pounds and loss of business with over 80,000 clients – the bank has been making many changes to their business operation procedure and in top level management which continues to this day.

LCH Group Selects UnaVista for Its SFTR-compliant Trade Repository

May 26, 2019

UnaVista is delighted to announce that it has been selected by LCH’s RepoClear as their trade repository to meet their reporting obligations under the Securities Financing Transaction Regulation (SFTR). LCH Group’s Collateral and Liquidity Management function will also be using UnaVista for its SFTR reporting. SFTR is scheduled to go live in April next year and will require firms to report details of their Securities Financing Transactions (SFTs) to an approved trade repository. Known as the ‘MiFID II for repo’, the regulation is designed to increase transparency, allowing regulatory authorities to assess the risks associated with these transactions. LCH provides Europe’s leading clearing service for government bond and repo markets, with €197 trillion cleared across the group in 2018.

Successful Opening of Customer Development Environment for DLT testing

May 15, 2019

ASX has successfully opened the Customer Development Environment (CDE) for its new equities clearing and settlement system to replace CHESS, which is based on distributed ledger technology (DLT). The first of seven ‘drops’ of software code was made available to customers on Tuesday 30 April. Additional functionality will be released at approximately eight-week intervals, culminating in full functionality in the CDE by mid-2020.

SET Market Report for April 2019

May 12, 2019

SET Market Report for April 2019, Index gained 2.1 percent from the previous month to 1,673.52 points at the end of April,  and was the second best performing bourse in ASEAN. The average daily trading value of SET and Market for Alternative Investment (mai) in April was THB 41.92 billion (approx. USD 1.31 billion), steady from the preceding month. Foreign and local institutional investors were the net buyers of Thai shares in April.

NSEIT Announces Acquisition of Global Cybersecurity Company, Aujas

May 1, 2019

Mumbai, March 22, 2019: NSEIT, a wholly owned subsidiary of NSE, today announced acquisition of a global cybersecurity company, Aujas Networks Limited (Aujas) to further strengthen its cybersecurity offerings. NSEIT will help Aujas scale its services and capabilities, with a strong focus on helping customers stay ahead of IT security challenges. Aujas founded in 2008, provides information security consulting and IT risk management services with operations in India, Middle East and North America.

Ellevest Raises $33m From Tech Leaders to Help Advance Women

April 4, 2019

Ellevest, a digital investment platform built by women, for women, has raised $33 million in a funding round led by Rethink Impact and PSP Growth, with other high-profile investors such as Melinda Gates’ investment firm Pivotal Ventures, PayPal, Google’s Eric Schmidt, Gingerbread Capital, Mastercard, and Morningstar.

Nine Lithuanian Institutions Join Forces in Fintech Risk Management

March 20, 2019

Lithuania highly visible on the global Fintech innovation map also becomes a relevant risk management competence centre. Therefore nine national institutions joined forces for a common goal – to promptly anticipate Fintech potential risks and effectively manage them.