Category: Financial Services

October 18, 2024 BY Sam Boughedda

Bank Rakyat Indonesia Partners with Nium to Boost Cross-Border Payments in Indonesia

The firm explained in a press release that the collaboration aims to provide BRI's customers with faster, more convenient, and cost-effective international money transfers. Through the partnership, BRI's 150 million customers will have access to a range of real-time payment options, including bank account transfers, card payments, and digital wallets. This is said to be…

Read more
ASIC ban
October 15, 2024 BY Sam Boughedda

ASIC Warns of 'Significant Increase' in Reports of Stolen Shares

The regulator explained in a release that fraudsters are impersonating individuals and stealing their shares, often leaving victims unaware until they receive unexpected notifications from share registries or the Clearing House Electronic Subregister System (CHESS). According to ASIC, there has been a significant increase in reports of stolen shares since August 2024. The regulator said…

Read more
October 15, 2024 BY Sam Boughedda

UBS Told to Bolster Emergency Plans

The regulator informed the bank that it needs to ensure it can be wound down or sold without risking financial stability or taxpayer funds. As UBS integrates Credit Suisse, FINMA said it has suspended the annual approval of UBS's recovery and emergency plans. The regulator believes that additional measures are necessary to strengthen crisis preparedness…

Read more
October 14, 2024 BY Sam Boughedda

CME Group International Daily Volume Hits New Record in Q3

The record number represents a 29% increase compared to the same period last year. According to the firm, the surge in international volume was driven by strong growth across all asset classes, with interest rate and equity products accounting for the majority of the increase. Interest rate products are said to have seen a record…

Read more
October 11, 2024 BY Sam Boughedda

ASIC Cracks Down: Cancels Two Financial Services Licences and 11 Credit Licences

The cancellations took place based on various compliance failures. These reportedly included non-membership in the Australian Financial Complaints Authority (AFCA), late lodgement of annual compliance certificates, failure to submit financial statements, and non-payment of industry funding levies. ASIC explained that AFCA membership is mandatory for financial services and credit licence holders. The membership means consumers…

Read more
October 11, 2024 BY Sam Boughedda

CAB Payments Confirms StoneX Acquisition Proposal

The company said in a release that the proposed offer values CAB Payments at £1.45 per share, consisting of both cash and a full share alternative. The offer represents an 18% premium over CAB Payments' stock price of 123 pence. CAB Payments was listed on the London Stock Exchange in July last year. However, its…

Read more
Cboe
October 10, 2024 BY Sam Boughedda

Cboe Set to Launch Options on VIX Futures on October 14

The new options, which will trade under the ticker UX, are expected to provide investors with an additional tool to manage U.S. equity market volatility. They will complement Cboe's existing securities-based VIX Index options and may allow more market participants to trade a VIX options product. Cboe's VIX Index options have seen record trading volumes…

Read more
October 10, 2024 BY Sam Boughedda

AmerX Leverages Broadridge Technology for New Securities Lending Business

The company explained that the SFCM platform will provide it with essential functionalities to manage its securities lending operations, including collateral management, trade lifecycle management, and risk assessment. They expect it to streamline processes, enhance transparency, and ensure compliance with regulatory requirements. "Broadridge's advanced solution provides the essential system functionalities to enable us to offer…

Read more
Stripe obtains $600M funding at $95B valuation
October 10, 2024 BY Sam Boughedda

Stripe and NVIDIA Expand Partnership to Boost AI Capabilities

The collaboration will see Stripe leverage NVIDIA's GPUs and AI software to improve its fraud detection capabilities and provide businesses with enhanced AI tools. By enabling developers and enterprises to prepay for select NVIDIA cloud services, Stripe said it aims to make NVIDIA's AI platform more accessible to a wider audience. "NVIDIA is one of…

Read more