Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox. A $1.9 trillion investor says there are already a bunch of 'canaries in the coal mine' that could send shockwaves through markets Rick Rieder is worried about liquidity. According to the chief investment officer of global fixed income at BlackRock, the retreat of central banks from credit markets could worsen liquidity, or complicate how smoothly other investors are able to do the same. Rieder, who oversees $1.9 trillion in assets, has been voicing this concern for several months as central banks reduced their bond purchases. Back in January, the Bank of Japan said its balance sheet shrank month-on-month for the first time since it started buying government bonds, equity exchange-traded funds, and other assets in late-2012. In June, the European Central Bank said it was set to end the €2.5 trillion ($3 trillion) bond-buying program known as quantitative easing that it initiated after the eurozone debt crisis. The Fed continues to slowly unwind its $4 trillion-plus portfolio of bonds. Barclays has raided Credit Suisse yet again in trading Barclays has hired a new electronic equities executive as the bank continues to invest in its fast-growing stock trading business. Kevin O'Connor is joining Barclays equities team as head of electronic equities origination for the Americas, the British lender announced Monday. O'Connor joins from Credit Suisse, where he worked in the global markets division as the US head of sales for Advanced Execution Services — a role in which he oversaw sales, marketing, and distribution strategies for the electronic products in the Americas. The new hire further bolsters Barclays roster as it looks to add market share in its cash equities business. Crypto companies are working with the Big Four to get Wall Street to trust them Bitcoin companies have a branding problem. The nascent market for digital coins is known for its spine-tingling volatility and hacks. That's part of the reason institutional investors don't trust firms across the landscape with their money. But crypto service providers and exchanges are trying to lure in big money by shaking off their scrappy roots and holding themselves to Wall Street standards. To that end, many are partnering with 'Big Four' accounting firms to acquire a so-called SOC2 certification, a way to prove to clients that they have the proper functioning security systems in place to keep funds secure. In markets news |
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