Inter-dealer broker and Open banking: Difference between pages

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(IDB).
''Banking competition''.


Inter-dealer brokers act as intermediaries or agents for wholesale market counterparties in a transaction. The business is conducted by telephone or electronically.


They provide a channel for price data, current and historical, and for market news. They charge a brokerage fee.
1. ''UK Open Banking project''.


A UK government-sponsored initiative focused on an open standard for Application Programming Interfaces (APIs) for UK banks to:
*Increase competition and innovation in and around banking to improve outcomes for customers; and
*Thereby support the fintech industry in the UK.


By helping price discovery and linking buyers and sellers, potentially worldwide, IDBs promote market liquidity.


One of features being developed is the freedom of the bank account holder to have their information shared with whom they choose. This will enable a corporate to collect information, such as bank balances and outstanding foreign exchange trades, from all their banks through APIs and have these reported into a central database such as a Treasury Management System (TMS).


== See Also ==


* [[Broker]]
2. Similar initiatives in other jurisdictions.
* [[Price discovery]]
* [[Wholesale markets]]


[[Category:Financial_products_and_markets]]
 
 
== See also ==
*[[Application programming interface]]  (API)
*[[Blockchain]]
*[[Competition & Markets Authority]]  (CMA)
*[[Disruptor]]
*[[Financial Conduct Authority]]  (FCA)
*[[Fintech]]
*[[HM Treasury]]
*[[Open banking APIs]]
*[[Open Banking Implementation Entity]]  (OBIE)
*[[Payment Systems Regulator]]  (PSR)
*[[PSD2]]
*[[Regtech]]
 
 
==Other links==
*[https://www.gov.uk/government/publications/joint-statement-by-hm-treasury-the-cma-the-fca-and-the-psr-on-the-future-of-open-banking/joint-statement-by-hm-treasury-the-cma-the-fca-and-the-psr-on-the-future-of-open-banking Joint statement by HM Treasury, the CMA, the FCA and the PSR on the future of Open Banking Published - March 2022]
*[https://www.treasurers.org/hub/treasurer-magazine/why-open-banking-will-be-better-corporate-treasurers Why Open Banking will be better for corporate treasurers, Web exclusive, 2019]
 
[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Technology]]

Revision as of 15:41, 22 June 2022

Banking competition.


1. UK Open Banking project.

A UK government-sponsored initiative focused on an open standard for Application Programming Interfaces (APIs) for UK banks to:

  • Increase competition and innovation in and around banking to improve outcomes for customers; and
  • Thereby support the fintech industry in the UK.


One of features being developed is the freedom of the bank account holder to have their information shared with whom they choose. This will enable a corporate to collect information, such as bank balances and outstanding foreign exchange trades, from all their banks through APIs and have these reported into a central database such as a Treasury Management System (TMS).


2. Similar initiatives in other jurisdictions.


See also


Other links

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