I've been studying developments in the Middle East lately, and particularly the countries of the Gulf Cooperation Council (GCC). The GCC has been running since 1981 and comprises six core states of the Persia Gulf Region: the UAE, Saudi Arabia, Kuwait, Bahrain, Oman and Qatar. The GCC is a bit like the EU, which formally…
As folks who read this blog regularly know, I often return to the theme of latency and high frequency trading (HFT). So a friend tipped me to look at the SEC's latest consultation document released in January on trading in American equities markets. Interesting section at the bottom of page 62: Latency of Consolidated Data….
Solving the bonus questions I’m fed up with the argument about bonuses and cannot believe it still rumbles on after a year of debate and G20 meetings. With Barclays announcing record profits last week, and therefore increased bonuses, the media latched onto this angle more than the fact that Barclays, UBS, Goldman Sachs and others…
Cayman – the bank’s main loophole? Three times this week, I’ve come across dodgy dealings by banks in the Caymans to avoid taxation. The first is the Portuguese Bank BCP, or Banco Comercial Portugues SA to give it its proper name. In a detailed report in Bloomberg Markets Magazine, they recount the story of billionaire…
The UK Government recently ordered changes to the Financial Services Compensation Scheme (FSCS), as announced in the Banking Bill of 2009. The Bill resulted in a new regulation from the Financial Services Authority (FSA), Policy Statement 09/11 (Download FSA PS09/11). PS09/11 rules that, from 31 December 2010, all financial firms must provide a Single Customer…
As many readers know, I've disliked Chip & PIN pretty much since it was launched, as there are better solutions out there. Here's my comment from 2006: Chris Skinner, CEO of financial services think tank Balatro told silicon.com: "I'm an anti-chip and PIN person. Sorry Apacs – I like them very much but it's not…
Just found a report from this year’s Davos that explores the forces that are shaping the future of the financial services landscape in the near term, and provides tools to approach the most pressing challenges of the post-crisis world, namely: managing and resolving governments’ newly acquired equity interests in financial institutions and restoring trust in…
