https://www.thestreet.com/technology/what-is-fintech-14885154 What Is Fintech?Anne Sraders - Fintech is a term used to describe financial technology, an industry encompassing any kind of technology in financial services - from businesses to consumers. Fintech describes any company that provides financial services through software or other technology, and includes anything from mobile payment apps to cryptocurrency. Top 10 Fintech Companies to watch in 2019 https://www.thestreet.com/technology/fintech-companies-14891479 As of 2019, there are 39 VC-backed fintech companies worth $1 billion - with a combined valuation of $147.4 billion, according to CB Insights. The 11 Biggest Fintech Companies In America 2019 https://www.forbes.com/sites/jeffkauflin/2019/02/04/the-10-biggest-fintech-companies-in-america-2019/ Jeff Kauflin U.S. fintechs raised $12.4 billion in funding, or 43% more than 2017, reports CB Insights. That growth outpaced the 30% increase in venture investments across the entire U.S. market. And fintechs will need those dollars—they tend to burn about two to three times as much cash compared with other startups, according to an analysis by Brex, likely due to factors like regulatory hurdles.
https://tabbforum.com/opinions/unintended-consequences-conflicting-regulations-the-sec-and-mifid-ii-requirements/ Douglas Christensen - Investment firms are moving more and more toward a situation in which they will be paying for research from profit and losses (P&L) instead of using client money. This isn’t necessarily due to firms seeing unjust value in using client money, but more likely a reaction to conflicting regulations across regions and requirements. Inconsistent regulations across regions have forced firms to dip into P&L to pay for research services instead of paying out of expenses of the fund. Investment firms, particularly the large and global, cannot be seen as treating clients differently based on their location. These changes have reverberated across the industry and are potentially doing more harm than good.
https://tabbforum.com/opinions/meet-crowdfunding-2-0-micro-stock-deals-for-small-fry-investors/ By Foster Winans - Meet crowdfunding 2.0, a sophisticated, regulated, entrepreneurial version of platforms like GoFundMe that facilitate donations for people and projects. Instead of donating to a fund to help a local employer whose business was flooded out, it’s now possible for that employer to sell stock which could become more valuable as the firm recovers.
https://tabbforum.com/opinions/mifid-ii-equities-dark-pools-hit-high-during-summer-slowdown/ Tim Cave, TABB Group- Dark trading reached its highest level under MiFID II in July, accounting for 9.6% of all on-exchange activity. It is dark pools’ largest market share since April 2019, when they accounted for 9.1% of activity. Block specialist Liquidnet enjoyed a particularly strong month, with total daily notional volumes of €454 million, its third-highest total since January 2017. The biggest factor affecting dark volumes in Europe is MiFID II’s dark pool caps, which limit the amount of dark trading in a stock to 4% of total on-exchange volumes on any one dark pool and 8% across all dark venues. Volumes are monitored on a retrospective 12-month basis every month, and those stocks breaching the caps are banned from trading in the dark for the next six months.
https://tabbforum.com/opinions/despite-pressure-from-both-sides-of-the-street-oms-ems-connectivity-fees-remain-shrouded-in-secrecy/ Sean Sullivan, LiquidityBook - There is no question that Wall Street is a far more transparent place today than at any point in history. Generally speaking, broker-dealers are well aware of the pricing models employed by the exchanges, investment managers know how and for what their brokerage counterparties charge, and end investors can see exactly what fees they are incurring. For trading in particular, there is now a tremendous amount of data – some of it mandated by regulators, and some driven by market forces – around order routing that only a few years ago would have been nearly impossible to obtain. But even as the industry continues to laudably move forward on this score, one area has remained stubbornly opaque for far too long: the transactional connectivity fees charged by some OMS and EMS vendors.