Sumitomo Mitsui Trust Bank adopts DTCC Alert GC Direct to manage settlement process LeapRate

July 23, 2018 BY Valentina Kirilova

Sumitomo Mitsui Trust Bank adopts DTCC Alert GC Direct to manage settlement process

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade infrastructure for the global financial services industry, has announced that Sumitomo Mitsui Trust Bank (U.S.A.) Limited (SuMi TRUST USA) has become the first Japanese global custodian to go live on the ALERT Global Custodian Direct (GC Direct) workflow. With GC Direct, SuMi TRUST USA can…

July 23, 2018 BY Valentina Kirilova

Naspers' PayU acquires online payments provider Zooz for $80M

Netherlands-headquartered online payment company PayU has just announced the acquisition of Israeli payments technology platform ZOOZ. The deal supports PayU’s ongoing expansion into high growth markets and targets the $994 billion opportunity in cross border payments. The ZOOZ acquisition is for an undisclosed amount but brings PayU’s total sum of investments and acquisitions in global…

July 23, 2018 BY Valentina Kirilova

MFSA issues warning against FXenergy

The Malta Financial Services Authority (MFSA) has just informed that it has become aware of an entity calling itself FXenergy and utilizing the website https://www.fxenergytrade.com/#/. FXenergy fraudulently claims to be regulated and licenced by the MFSA under the purported license number 5651919008284 to provide investment services. FXenergy is not a Maltese entity, it is not…

July 23, 2018 BY Mariela Naydenova

Chinese city and its new $1.5 billion blockchain fund

Nanjing City, one of China’s most historic cities, is launching a $1.5 billion blockchain fund with the aim of boosting the digital currency economy and support public projects based on blockchain. China was one of the first countries to ban domestic cryptocurrency exchanges back in the summer of 2017. As a global player in almost…

July 23, 2018 BY Mariela Naydenova

“Burning” your tokens if your ICO doesn’t go well

ICOs are said to surpass the volume of IPOs in the future. Initial coin offerings are literally booming around the world, where even Youtube uploads education videos on how to create your own ICO. Many companies try to raise money by issuing tokens in several rounds and fund their business. What happens, however, when your…

July 23, 2018 BY Mariela Naydenova

Education and Blockchain – the next dynamic duo

Education and blockchain are the next dynamic duo, according to media, especially given the fact that the technology has already disrupted multiple industries and companies around the globe. There are a number of ways that blockchain can help disrupt education and serve primary role in solving various problems that are currently present in the educational…

LCH SA EquityClear extends clearing services with Euronext stocks traded on Turquoise

July 23, 2018 BY Valentina Kirilova

LCH commits to FX Global Code and UK Money Markets Code

LCH Ltd (LCH), a global clearing house, has today confirmed its commitment to the FX Global Code and the UK Money Markets Code. The FX Global Code is a set of global principles of good practice in the foreign exchange market, and the UK Money Markets Code sets out the standards and best practice expected…

July 23, 2018 BY Valentina Kirilova

Financial firms accelerate their move to the cloud

Financial firms with spend on cloud to increase from 30% of IT budgets in 2017 to 47% by 2019 Financial firms intend to rapidly increase their investment in public cloud to exploit the benefits of the cloud in managing the financial data that powers their business decisions, according to a new global survey of senior…

July 23, 2018 BY LeapRate Staff

Market maker XTX Markets sees Revenues of £154M in 2017, £61M profits

Electronic market maker XTX Markets Limited has released its financial results for 2017, indicating significant growth in revenues although profits remained flat. XTX, which is controlled by founder and co-CEO Alex Gerko, reported that Revenues for 2017 rose by 17% from the previous year, £154.6 million (USD$ 203 million) versus £131.9 million. The company earned…

July 23, 2018 BY Valentina Kirilova

Finastra appoints new CIO to lead Global Information Services and support future growth

Finastra has announced that Gareth Burton has joined the company as Chief Information Officer (CIO) with responsibility for leading Finastra’s Global Information Services team. He will oversee the company’s enterprise core infrastructure and employee services, as well as supporting all business and financial applications. Gareth Burton has three decades of experience in the international technology…