Tuesday's Headlines: Looming Regulations Push IT Budgets Higher

IT budgets are soaring as banks prepare to meet new compliance requirements, with one technology executive saying his budget is up 30 percent this year. [Financial News]

Goldman Sachs is preparing to launch an exchange-like trading platform to increase transparency in equities trading, joining others such as Nomura and UBS who have done the same thing. [Financial News]

Spanish banks Santander and BBVA are moving into new products and markets such as Latin America. [FT]

Bank of America Merrill Lynch's prime brokerage unit launched new services to meet hedge fund demand in China. [Finalternatives]

Former traders at hedge fund SAC Capital were implicated in an insider trading crackdown. [Bloomberg]