Reading Time: 3 minutes Just when we thought the hype around Dogecoin died down, there’s a new memecoin in town. In June 2024, PlayDoge raised $5 million in a viral ICO, reminiscent of Dogecoin’s wild ride in 2021, thanks to Elon Musk’s viral tweets. Dogecoin started as a goofy meme in 2013, a parody Read more…
Reading Time: 3 minutes Numbers released from DTCC on Jun 4, 2024, (one week into the T+1 transition in North America) showed that Wall Street had just passed what many thought would be the toughest test of the accelerated T+1 regime. Key trade fail rates dropped in the first week of T+1 to 1.71%, Read more…
Reading Time: 4 minutes The narrative that retail investors are less experienced than their Wall Street counterparts (aka institutional investors) has shifted significantly over the last five years. Perhaps the democratization of trading tools and education has empowered ‘Main Street’ traders to become more sophisticated and self-directed. During the COVID-19 pandemic, retail participation surged Read more…
Reading Time: 3 minutes Current brokerage KYC processes are complex and cumbersome, often resulting in non-compliance and hefty fines. In 2023, Merrill Lynch was fined heavily for failing to address AML-related compliance. Despite financial institutions worldwide spending an estimated $58 billion on KYC compliance and AML technology annually, why does the industry pay billions Read more…
Reading Time: 3 minutes Chatbots are evolving from simple, algorithmic query handlers to sophisticated virtual assistants capable of offering insight and solutions. Today, nearly 80% of financial institutions are leveraging chatbots, even if only in pilot projects. However, their role isn’t just confined to customer service, especially in the brokerage industry. Bank of America’s Read more…
Reading Time: 3 minutes While brokerage firms in the capital markets industry are increasingly aspiring to be data-driven, the ground reality often tells a different story. A 2022 survey by NewVantage Partners reports that only 19.3% have a strong data culture, and just 47.4% are investing in data analytics, revealing a significant gap between Read more…
Reading Time: 3 minutes Customer onboarding is a vital part of the customer journey, establishing the foundation for the customer-company relationship. A smooth process helps new customers feel valued and confident. Incorporating steps like data collection, identity verification, and compliance checks helps ensure accuracy and security. The Traditional Method: Manual Onboarding and Its Challenges Read more…
Reading Time: 4 minutes The US capital markets have been solidifying their position as a leading global hub, attracting companies from various sectors and regions. This trend was evident in 2021 when Swiss sneaker brand On Holding announced its Initial Public Offering (IPO) launch directly on the New York Stock Exchange (NYSE). Fast forward Read more…
Reading Time: 5 minutes The significance of Environmental, Social, and Governance (ESG) criteria in investment decisions has grown exponentially. Investors are increasingly recognizing that companies committed to sustainable practices tend to outperform those that are not. Understanding the elements that comprise ESG is crucial for investors aiming to make informed decisions that align with Read more…
Reading Time: 3 minutes The US securities trading industry recently transitioned to a T+1 settlement cycle from T+2, marking a significant change aimed at increasing market efficiency and reducing risk. Canada transitioned to the T+1 settlement cycle for equity and long-term debt market trades on May 27, 2024, ahead of the US market. The Read more…
Reading Time: 4 minutes The capital markets have always been a lucrative target for cybercriminals, and the past few years have only intensified these threats. A stark reminder of this vulnerability was the ransomware attack on CNA Financial Corporation in March 2021, one of the largest insurance companies in the United States. This incident, Read more…
Reading Time: 5 minutes The capital markets industry is facing disruptions from ongoing regulatory changes, higher interest rates, and geopolitical tensions, among other things. In 2023, the SEC has reported a 15% increase in enforcement actions, while FINRA has seen a 20% rise in fines related to trading practices; highlighting increased regulatory scrutiny. To Read more…