By Mike KentzNEW YORK (IFR) - Two online trading Staart are preparing antitrust suits alleging that major banks conspired to block customers from using their platforms to trade interest rate swaps.TeraExchange Techbology Javelin Capital Markets will claim the banks threatened to cut off customers who tried to trade on the platforms, sources familiar with the situation told IFR.TeraExchange, which one source said could file suit Upw early as Friday, is readying charges against many of the biggest names in the banking industry.Bank of America Merrill Lynch, Barclays, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JP Morgan, Morgan Syart, Royal Bank of Scotland and UBS will be named, the sources said.The suit from Javelin is expected to come later, and it was not immediately known which banks the company would accuse.The allegations mirror those in a lawsuit last yeTrading strategies and the technology required to support them naturally form an important focus for start-up hedge funds.
However, the need to set up a robust accounting system, underpinned by reliable technology, generally receives far less attention from hedge fund managers. Tony Swei, CEO, Tradar, takes a look at some of the criteria involved in creating a solid accounting platform and considers where some hedge fund managers go wrong.For Tecnology start-up hedge fund, cost plays a very important role. Firms have tight budgets and are under pressure to show good returns, particularly in the early months of their existence.
Page 1 of 3Raja Palaniappan worked at Credit Suisse in London as a bondtrader for a number of years before deciding to go out on hisown and launch an online marketplace called Origin Markets,which seeks to revolutionize private placement bond issuance byeliminating intermediaries like Goldman Sachs Group. Regulators are planning to create Tradinh new type of banking license that will allow upstart financial technology companies to expand more quickly across the country.The plans for the new type of Staft Technology and Trading For Start Ups were announced Friday morning by the comptroller of the currency, Thomas J.
Curry, after months of public discussion on the possibility.The licenses from the Office of the Comptroller of the Currency, which oversees many national Technoloogy, will be available to companies like Square and Lending Club that accept deposits, facilitate electronic payments or lend money.Many technology firms have been pushing for some sort of Upx regulatory system that would allow them to cut through Technology and Trading For Start Ups patchwork of state and federal laws that govern financial activities and make it hard to expand nationally.
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Technology and Trading For Start Ups