News Nuggets | 26 June: Nomura's New Exec; Toolkit for Responsible Use of AI

Refinitiv Commences Consultations on New Euro-Denominated Benchmark

A financial markets data and infrastructure provider, Refinitiv has introduced methodology changes to its euro-denominated interest rate benchmark, Refiniv Term €STR. The London Stock Exchange -listed company has also commenced public consultations on the benchmark.

According to the company’s statement, Refinitiv Term €STR would be transitioned from a prototype to a regulated production rate for financial contracts starting September 2023.

The prototype is available through the company’s products, including Refinitiv Workplace, Refinitiv Eikon, Refinitiv Real-Time, and Refinitiv DataScope.

Singapore-Led Consortium Releases Toolkit for Responsible Use of AI

A consortium of 31 financial industry players led by Singapore's financial watchdog has released the upgraded version of the Veritas Toolkit. The toolkit is the first responsible artificial intelligence (AI) open-source resource developed specifically for the financial industry.

The improved toolkit has been tagged version 2.0 and is an improvement over the earlier version released in February last year. According to the Monetary Authority of Singapore (MAS), the new version enables financial institutions to assess AI for fairness, ethics, accountability and transparency (FEAT). The first version only covered the assessment of fairness.

“In the coming years, the consortium will focus on training in the area of responsible AI and facilitate more financial institutions’ adoption of the Veritas Methodologies and Toolkit,” MAS explained.

Coinmotion Oy Appoints LocalBitcoins’ CEO as Chairman

Coinmotion Oy, a Finnish cryptocurrency exchange, has appointed Sebastian Sonntag, the former CEO of LocalBitcoins, as the new Chairman of its Board of Directors. LocalBitcoins shut down in February, citing a ‘very cold crypto winter’.

Apart from Sonntag, Coinmotion Oy, also welcomed Pekka Ylihurula, the former CEO of S-Bank PLC, a Finnish bank, as a new Board Member. The cryptocurrency exchange believes that Ylihurula’s experience will be of great value to its ‘evolving business’.

“Sebastian and Pekka's combined expertise will undoubtedly drive Coinmotion Oy as it continues to innovate and expand within the cryptocurrency space," said Henry Brade, the outgoing Chairman. Other current members of the crypto exchange’s Board of Directors include angel investor, Taneli Tikka and blockchain developer, Joel Lehtonen.

Coinigy Offers Multi-Monitor Support to Day Traders

Coinigy, a platform for managing digital asset portfolios, now provides ‘enhanced multi-monitor support’ to its users, especially day traders. The firm noted that the feature was designed to take users into “a new era of efficiency, convenience and profitability.”

“The multi-monitor environment, which is common in the equity, stock and forex worlds, is an important step forward and represents additional functionality for Coinigy users who already enjoy multi-exchange access,” explained William Kehl, the Co-Founder of Coinigy.

With the new feature, users can now enjoy access to “professional tools once reserved for well-funded prop shops and institutions,” the firm added.

Nomura Taps Barclays' Nat Tyce to Lead Trading Unit in EMEA

Nomura, Japan’s largest investment bank and brokerage group, has hired Nat Tyce, a Barclay's veteran, to lead its trading unit in Europe, the Middle East and Africa (EMEA). According to a memo seen by Financial News, Tyce will serve as the Head of Global Markets for EMEA.

Previously, Tyce spent over 25 years at Barclays and helped in transforming the British multinational bank’s trading unit into one of its highest-flying divisions. He last worked as the Head of Macro Trading for EMEA and the Asia Pacific at Barclays before his departure in June last year.

According to the memo, Tyce’s new role at Nomura commences today (Monday), as he replaces John Goff who is now the Global Head of Structuring. He will report to Rig Karkhanis, who is the Head of Global Markets, and Jonathan Lewis, the Head of EMEA.