Category: Financial Services

Eurex ESG
October 24, 2024 BY Sam Boughedda

Eurex Clearing Successfully Participates in ECB's Digital Money Trials

The company took part in the Eurosystem's exploratory work on new technologies for wholesale central bank money settlement, with the initiative, led by the European Central Bank (ECB), aiming to explore the potential of distributed ledger technology (DLT) in enhancing financial market infrastructures. Eurex explained that the trials focused on cash settlement in cleared intraday…

Read more
Visa
October 24, 2024 BY Sam Boughedda

Worldline Partners with Visa to Enhance Fraud Management Solution

The global payment services provider explained in its press release announcing the deal that the collaboration combines Worldline's extensive transactional data with Visa's Cybersource Decision Manager, offering businesses a powerful tool to combat fraud and optimise customer experiences. The partnership is said to be particularly beneficial for the travel industry, where both Worldline and Visa…

Read more
October 24, 2024 BY Sam Boughedda

CFPB Fines Apple, Goldman Sachs $89m for Mishandling Apple Card Disputes

The CFPB said it found that Apple failed to send tens of thousands of consumer disputes to Goldman Sachs, the issuing bank for Apple Card. When disputes were eventually sent, Goldman Sachs did not follow federal requirements for investigating them, leading to delays in refunds and negative credit reporting. Additionally, Apple and Goldman Sachs reportedly…

Read more
Interactive Brokers
October 23, 2024 BY Sam Boughedda

FINRA Fines Interactive Brokers $475,000

According to a FINRA Letter of Acceptance, Waiver, and Consent (AWC), Interactive Brokers made errors in calculating the number of excess shares of stocks listed on European exchanges it had available to return to customers. This resulted in over 800 instances where the firm returned borrowed shares prematurely, causing them to fall into a segregation…

Read more
October 22, 2024 BY Sam Boughedda

OptAxe Gains FCA Authorisation For FX Options Multilateral Trading Facility

OptAxe explained in a press release that it aims to address the inefficiencies and fragmentation of the current FX options market by providing a centralised platform for liquidity discovery, dissemination, and execution. "OptAxe offers an innovative and automated approach to FX options trading that digitises and centralises the distribution of FX options axes," the company…

Read more
October 22, 2024 BY Sam Boughedda

GCEX Unveils New Price Feeds for Re-Aggregation

The new feeds are said to focus on enhancing spreads and optimising performance for aggregating brokers in the FX and precious metals markets. Designed to address the challenges faced by brokers in today's liquidity environment, the company said that XplorSkew and XplorSkewPlus leverage skewing to maximise the benefits of aggregation. GCEX explains that by compressing…

Read more
Broadridge’s Fi360 and ProctorU partner to launch remote proctoring and identity management solution
October 21, 2024 BY Sam Boughedda

Broadridge Expands OTC Derivatives Reporting Capabilities

In addition, the company revealed in a press release that it is proactively expanding its offerings to include other regulatory regimes and asset classes, such as the Canadian rewrite and the Hong Kong rewrite scheduled for later dates. “We anticipate that the regulatory wave will continue, and we are proactively working on behalf of our…

Read more
FCA
October 18, 2024 BY Sam Boughedda

UK Government Plans to Curb BNPL Risks with Regulations

The move aims to protect consumers and ensure that BNPL providers operate fairly and responsibly. On Thursday, the UK government launched a consultation on draft legislation to regulate the BNPL market. The proposed regulations seek to provide consumers with clear information, prevent unaffordable borrowing, and establish strong consumer rights. The FCA welcomed the government's consultation…

Read more
October 18, 2024 BY Sam Boughedda

CME Group Launches New Australian Carbon Credit Futures

The new CBL Australian Carbon Credit Unit (ACCU) futures sawtotal of five contracts traded as a block between Freepoint Commodities and Mercuria on October 14, 2024, revealed CME. The new contract is designed to help clients manage the risks associated with carbon reduction strategies. "We are pleased to see industry interest and support for our new…

Read more