The notes, to be issued by StoneX Escrow Issuer, a wholly-owned subsidiary created specifically for this purpose, will be offered to qualified institutional buyers under Rule 144A and to certain non-U.S. persons under Regulation S. The proceeds will be held in escrow until the RJO acquisition closes, at which point StoneX will assume the obligations…
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US Markets US stock index futures gapped lower overnight as traders responded to the weekend news. President Trump wrongfooted everyone by authorising US involvement in Israeli-Iranian hostilities. US action has been limited so far to bombing sorties aimed at destroying Iran’s nuclear infrastructure. The strikes targeted key facilities in Fordo, Isfahan, and Natanz surprising many…
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The interesting situation, however, might be building on a Swiss Franc. The SNB had cut interest rates by quarter a point (exactly as anticipated) and brought monetary policy to zero. At the same time, the net position for speculators had reached the peak, indicating the “safe haven” narrative in play. Options for “risk-reversals” (bearish bets…
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According to reports, X CEO Linda Yaccarino confirmed at the Cannes Lions festival that users will “soon” be able to “transact your whole financial life on the platform.” She added that it could include paying for a pizza, “or making an investment or a trade.” The app is also reportedly developing a digital wallet and…
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The index, which is updated weekly and available on the ICE Index Platform, is said to aim to complement the APOR figures currently published by the Consumer Financial Protection Bureau (CFPB). The exchange explained that ICE APOR reflects the annual percentage rates based on average interest rates, points, fees and other terms offered on prime…
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The move expands the bank’s wealth management services for high-net-worth and ultra-high-net-worth clients. The transaction will see Burgundy, an independent wealth manager with around $27 billion in assets under management as of May 31, integrated into BMO Wealth Management. Burgundy’s expertise is said to be in its discretionary investment management for private clients, foundations, pensions,…
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SIX said in a release that the newly listed ETF, launched under the firm’s quantitative investment unit Avantis Investors, is actively managed and aims to outperform the MSCI World Small Cap Value Index. It targets small-cap companies from developed markets, prioritising those with lower valuations and higher profitability. The ETF trades in US dollars. “With…
Read moreThe S&P BMV IPC Index is Mexico's main equity index. It tracks the most liquid stocks listed on Bolsa Mexicana de Valores (BMV). CME says the new contracts will offer investors more efficient access to the Mexican equity market, tracking the performance of the S&P BMV IPC Index. The IPC Index is compiled by S&P…
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Moulds, who also currently serves as a senior independent director and the risk committee chair at IG Group, brings more than 25 years of international financial services experience, having held senior executive positions across the UK, US, and Asia. He is already familiar with Citi, serving as Chair of its international broker-dealer, Citigroup Global Markets…
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