The biggest news stories of the week include ...
- Goldman 'facing criminal inquiry' - BBC
- Goldman agrees to pay fine over claims it broke short
selling rules - The Independent - Goldman faces shareholder action - BBC
- Bear Stearns: ‘A big, fat bank goose about to be eaten
alive’ - The Times - In the Spotlight: Grübel in the pink as UBS shows
strong signs of recovery - The Independent - Salaries are astonishingly high, says RBS chairman -
The Independent - Jayne-Anne Gadhia, CEO Virgin Money - The Times
- I would not want job of tackling British debt, says
Buffett - The Independent - Apple iPad tops one million sales in 28 days - The Times
And our biggest stories of the week are ...
Why payments innovations are rubbish!
Here's my latest retail payments focused presentation. It's
premise is that there's loads of innovation out there, but it's all just froth on the cake as the core of the infrastructure it's built upon - the
clearing and settlement services that underpin these services - is still
pretty rotten.
Not
an ash cloud, but a cash cloud
Overheard this week, a conversation between a bank’s CIO, CFO and CEO about Cloud Computing ...
This has nothing to do with banking, but all to do with
marketing. John Lewis, a mutual partnership retail store in Britain,
recently launched a new advert. Costing £6 million, it's a remarkable
ad and captures and inspires citizens across Britain ...
What do criminals, bankers and Warren Buffett have in common?
Some years ago, I delivered a presentation as a keynote with the title:
“All Bankers are Criminals”. I actually didn’t
mean “all”. The chicken feed, battery farmed,
commercial, transactional and retail bankers are pin-stripe suited,
humble pie, nice guys. I was talking about the evil animals of
Wall Street and the City. These jungle animals hunt you down, rip
out your wallet and tear your money apart note-by-note. OK, I
exaggerate a little, but you get the idea. What I never
anticipated is that the man who would denounciate these animals - Warren
Buffett - would one day join them.
We had a fun meeting of the Financial Services Club this week, looking
at the implications of MiFID, the Markets in Financial Instruments
Directive, and the outlook for MiFID II, or MiFID2 if you prefer.
Now, to be clear, we don’t know what’s in MiFID2 right now,
but there are some pretty good guesses including some form of Clearing
Directive. In order to find out what those guess would be, we
gathered an expert panel comprising:
* Andrew Allwright, Business Manager, MiFID Solutions, Thomson Reuters
* Andrew Bowley, Head of Electronic Trading Product Management, Nomura
* Hirander Misra, CEO of Algo Technologies Ltd and former COO, Chi-X
* Philippe Guillot, Global Head of Trading and Execution, CA Cheuvreux
* Willy Van Stappen, COO, Equiduct
We are pleased to provide our fourth month of monitoring the MTF
performances in European Equities trading, in partnership with Thomson
Reuters Equity Market Share Reporter (EMSR). This month is particularly
interesting with the demise of NASDAQ OMX Europe - rumours are that
Equiduct are interested in buying their business - and a meeting at the
FSClub tonight on MiFID Wave 2 (more on this later).
The Financial
Services Club is sponsored by:
For details of sponsorship email us.
Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, TheFinanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal's Financial News. To learn more click here...
