Category: Financial Services

financial buildings
April 23, 2025 BY Sam Boughedda

Argentex Confirms 'Advanced Discussions' with IFX Payments Regarding Takeover Proposal

In a statement, the currency risk management firm said it had received non-binding indicative proposals from three potential bidders: IFX Payments, Lumon Acquisitions (a Pollen Street Capital vehicle), and Terry Clune with Harry Adams.  However, the Board has “unequivocally rejected” the proposals from Lumon and Clune/Adams, while it is continuing talks with IFX Payments over…

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financial buildings
April 22, 2025 BY Sam Boughedda

Fintel: Imogen Joss to Stand Down From Board

The company revealed that Tim Clarke, currently a Non-Executive Director and Chair of the Audit and Risk Committees, will take over as Senior Independent Director upon Joss’s resignation. The board added that it is nearing the conclusion of an external recruitment process to identify Joss’s successor.  Fintel expects to make a formal appointment before the…

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April 22, 2025 BY Sam Boughedda

Circle Announces New Payments Network

The firm explained in a press release that CPN is designed to connect banks, neo-banks, payment providers, virtual asset services, and digital wallets, offering real-time, low-cost, and transparent settlement of international transactions.  Circle believes the initiative addresses longstanding inefficiencies in cross-border payments. “Despite improvements, cross-border payments can still take longer than one business day to…

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financial buildings
April 18, 2025 BY Sam Boughedda

MoneyGram Partners with Plaid to Enhance Pay-by-Bank Services in the US

Announced on Thursday, the partnership allows MoneyGram users in the US to authenticate their bank accounts through Plaid’s financial network.  The service is expected to improve the MoneyGram Online experience. It is expected to scale to additional markets later this year. “The MoneyGram network moves money for over 50 million customers each year, across nearly every…

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FINRA's 2018 volume tops 2017 activity by 87%
April 17, 2025 BY Sam Boughedda

FINRA Fines Sonenshine & Company LLC

According to a Letter of Acceptance, Waiver, and Consent (AWC) published by the regulator, the New York-based investment banking firm failed to establish and implement policies and internal controls reasonably designed to comply with the Bank Secrecy Act.  Notably, FINRA says the firm did not respond in a timely manner to Financial Crimes Enforcement Network…

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April 16, 2025 BY Sam Boughedda

Cboe Begins Trading in S&P 500 Equal Weight Index Options

The move expands its suite of equity derivatives products aimed at both retail and institutional investors. The new options, which began trading on 14 April, are said to be based on the S&P 500 Equal Weight Index, where each constituent is weighted equally at 0.2% following quarterly rebalancing.  Cboe explained that, unlike the traditional capitalisation-weighted…

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CME Group
April 15, 2025 BY Sam Boughedda

S&P Global, CME Group to Sell OSTTRA to KKR for $3.1 Billion

In a press release on Sunday, CME noted that the post-trade solutions provider, formed in 2021, has grown into a critical infrastructure player in the global over-the-counter (OTC) derivatives market. The enterprise value of the transaction will be split equally between S&P Global and CME Group, which each hold a 50% stake in OSTTRA.  The…

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Plum logo
April 15, 2025 BY Sam Boughedda

BBVA Backs UK Fintech Plum with £15 Million Venture Debt Deal

The funding is expected to support Plum’s expansion plans and ongoing efforts to scale its business, particularly as it grows its user base across the UK and Europe.  The London-based fintech, which uses AI to help users manage savings and investments, now serves over two million customers and has helped set aside more than £5…

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