Banks & brokers

Total bank IT spending across North America, Europe, and Asia-Pacific will grow to US$173.3 billion in 2012. This spending level is approximately 2.8% higher than 2011. This is a discouraging but not surprising indicator that IT spending growth is slightly on the decline. 

In a new report, IT Spending in Banking: A Global Perspective, Celent analyzes IT spending trends across different regions: North America, Europe, and Asia-Pacific. The report compares and contrasts the direction of IT spending trends.

Newedge Hires Andrew Roper as Director on the FX Sales Desk 

Newedge, a global leader in multi-asset brokerage and clearing, announced today the appointment of Andrew Roper as director on the foreign-exchange (FX) sales desk. In this role, he will be responsible for providing cross asset sales solutions, while supporting the existing client base and introducing related products to institutional clients. Mr. Roper will work from Newedge’s London office, reporting directly to Michael Bailey, Head of FX.

GFI Group Inc. (NYSE: "GFIG"), a leading provider of wholesale brokerage, electronic execution and trading support products for global financial markets, today announced the appointment of Neil Standen as Head of its recently opened Nyon office.

ICAP, the world’s leading interdealer broker, announces that it has appointed Gary Pettit to the new position of Global Head of Financial Futures and Options. Gary Pettit was formerly Global Head of Futures and Options at MF Global. 

ICAP has also recruited, so far, an additional 25 former MF Global staff across London, New York, Chicago and Sydney which will significantly enhance its existing execution brokerage offering. Gary Pettit will be based in London, reporting to Gary Smith, Deputy ceo, ICAP London and EMEA.

ICAP, the world’s leading interdealer broker, announced today that it has successfully added Australian dollar interest rate options fixings to its mid-price matching platform DerivX and has executed trades during the session.   

The Basel Committee on Banking Supervision issued today its rules for global systemically important banks (G-SIBs).

Today's publication, Global systemically important banks: Assessment methodology and the additional loss absorbency requirement, sets out the Basel Committee's framework to identify G-SIBs, the magnitude of additional loss absorbency that G-SIBs should have, and the arrangements by which the requirement will be phased in.

The collateral management industry is in a period of significant change, driven by wide-ranging regulatory and other industry developments such as Dodd-Frank, European Market Infrastructure Regulation (EMIR), Basel III and T2S.

In this report, InteDelta explores the impact on collateral operations of impending Dodd Frank rules and the approach taken by broker-dealers to update their collateral management processes to support central clearing services.

Key topics investigated include:

- Industry Consortium to Tap Buy and Sell-side Expertise to Create Clear Standards for Transaction Cost Analysis (TCA)

Newedge, a global leader in multi-asset brokerage and clearing, today announced that on the 28/07/2011 its board of directors approved the appointment of Ms. Françoise Guillaume as global chief operating officer and deputy chief executive officer. Based in Paris, Ms. Guillaume will also participate as a member of the Newedge Executive Committee.

SunGard’s high-touch execution services trade desk will be consolidated into Valdi Liquidity Solutions offering customers both “high and low touch” trading capabilities. With this combined offering, customers will have the ability to send orders either to the trade desk to be executed (high touch) or through low latency execution solutions (low touch). SunGard’s trade desk manages agency-only equity trades for all types of buy-side customers in the US through execution-only and soft dollar solutions that help provide commission management.