Jane Fraser will become the first woman to run a major Wall Street bank, succeeding Michael Corbat as chief executive when he retires in February, according to a story in The Wall Street Journal. Ms. Fraser has worked at Citigroup for 16 years. She was sent to run the bank’s important Latin American divisions before moving to New York last year to run the consumer bank. During the financial crisis, Ms. Fraser led the bank’s strategy division.

Microsoft and Refinitiv have entered into a major partnership in a bid to improve connectivity and market data insights across the financial services sector, according to a story in The Trade news. Through the partnership, Refinitiv will create new products and go-to-market services through Microsoft Azure and expanding its connections with Microsoft 365 and Teams. The latest partnership follows the launch of QA Direct in the Cloud in 2018 by Refinitiv. The quantitative analytics service for the buy-side provides access to market insights from Refinitiv’s global market and referential data...

The 2020 EMEA Trading Conference will address financial industry issues from a global perspective on Friday, September 18. The agenda will maintain a balance of topics across multiple asset classes. Organized by the FIX Trading Community, the one-day fully virtual conference will cover the most pressing issues facing the institutional trading community and provide a neutral platform for buy-side, sell-side, exchanges, vendors and regulators to share their ideas on how the community can continue to collaborate. Topics will include regulators’ approach to global regulation, equities execution...

FIF CAT Committee -  The FIF CAT Committee call summarized the prior discussions of the CAT Tech Specs and CAT CAIS Working Group during the week. FIF TRACE Working Group - The group held a follow-up call to discuss FINRA's proposed changes to the TRACE reporting rules that were recommended by the Securities and Exchange Commission’s Fixed Income Market Structure Advisory Committee. The proposed changes relate to delayed reporting of Treasury spot trades and the reporting of certain portfolio trades. FIF CAT Tech Spec Requirements Working Group - The Working Group reviewed...

On September 3rd, FINRA CAT issued a FAQ that Industry Members are not required to report an Order Modification Request or Order Cancel Request event to CAT in Phase 2d to the extent an order has already been fully executed or cancelled. However, reporting of this activity may be required in future phases of CAT. This is a positive result as FIF members were concerned about the system changes that would have been required for reporting these events to CAT.

Bloomberg, together with the China Foreign Exchange Trade System (CFETS), announced the launch of the Request-for-Quote (RFQ) service for CIBM-Direct on the Bloomberg Terminal. This new electronic trading service will bring greater efficiency and market transparency to facilitate global investor trading of Chinese bonds with onshore market makers, through the connection between Bloomberg and CFETS. The Bloomberg Terminal is currently one of the major offshore access points to China’s $14 trillion bond market. CIBM-Direct is a key route for international investors to access the China...

IHS Markit has partnered with fixed income market data provider BondCliQ to embed US corporate bond pricing data with its investment management platform thinkFolio. The partnership will see IHS Markit’s thinkFolio clients gain click-to-view, consolidated, and pre-trade institutional bond quote data from 34 dealers, as well as post-trade and normalized TRACE data. BondCliQ offers a consolidated quote display and generates a centralized institutional pricing quote for both buy-side institutions and sell-side dealers. Combined with thinkFolio order and execution management workflow, both firms...

The recent launch of “Prometheus”, the new trading surveillance application, sees SIX Exchange Regulation (SER) set new standards for the monitoring of SIX stock exchanges. SER uses artificial intelligence, machine learning and big data as a basis for this. “Prometheus” will gradually replace the trade monitoring software currently in use. The operational launch of the Insider Trading module sees SER’s trading surveillance division open up a new chapter in the...

Intercontinental Exchange (ICE) announced that it has received regulatory approval and fully completed its $11 billion acquisition of Ellie Mae from leading private equity firm Thoma Bravo. Ellie Mae was founded in 1997 with a mission to automate and digitize the trillion-dollar residential mortgage industry. Through its digital lending platform, Ellie Mae provides technology services to all participants in the mortgage supply chain, including its over 3,000 customers and thousands of partners and investors participating on their open network who provide liquidity to the market. Lenders...