Category: Financial Services

December 12, 2023 BY Elizabeth Anderson

Citigroup Inc. announces new investment into Colombian fintech Supra

According to a press release, Citi’s cross-border payment solutions will help the fintech expand across Colombia, with a potential reach into other neighbouring countries. Supra has also received backing from early-stage capital investor Far Out Ventures and the early-stage capital management fund H2O Capital Innovation. Don’t miss out the latest news, subscribe to LeapRate’s newsletter…

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December 11, 2023 BY Elizabeth Anderson

FCA lacks “specialist skills” to regulate crypto says UK watchdog

A report found that around three-quarters of people in senior positions at the FCA have been in their respective roles for less than four years. The lack of experience across senior leadership has contributed to struggles in straightening out crypto regulations and clamping down on illegal crypto-related activities. Don’t miss out the latest news, subscribe…

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IG Group office1
December 08, 2023 BY Simon Mugo

IG Group Appoints Breon Corcoran as CEO, effective January

Charlie Rozes will continue to serve as Interim CEO and Group CFO until Breon assumes his role. Upon Breon's arrival, Charlie will maintain his position as Group CFO and will remain a member of the Board. Breon Corcoran brings a wealth of experience in leading multinational fintech firms and successfully executing their growth strategies. He…

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December 07, 2023 BY Simon Mugo

FTX Plans To Unveil Its Reorganisation Plan Soon

The initiative comes during intense developments within FTX’s bankruptcy process. The Official Committee of Unsecured Creditors has recently addressed insights from the FTX 2.0 Customer Ad Hoc Committee. They are focused on striking a fair equilibrium between the valuation and distribution of assets in the proposed reorganisation plan, a crucial element in determining the future…

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December 07, 2023 BY Simon Mugo

SoFi Technologies Agrees To Pay FINRA Fine, Compensate Clients

From January 2019 to March 2023, SoFi was found lacking in effective supervisory systems. This oversight led to the automatic inclusion of over two million clients in its fully paid securities lending program, conducted without obtaining necessary consent or ensuring full disclosure. Moreover, SoFi was responsible for circulating misleading materials about the rewards customers would…

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December 07, 2023 BY Elizabeth Anderson

CME Group to launch new spot FX marketplace next year

CME Group has cemented its position as a leading global financial derivatives marketplace in recent years. It operates a range of trading markets, including mercantile exchanges in Chicago and New York. The new all-to-all spot FX marketplace will build on its existing infrastructure and expertise to deliver a feature-rich experience for customers. They will, for…

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JP Morgan Chase & Co.
December 06, 2023 BY Simon Mugo

J.P. Morgan Released Its 2024 Long-Term Market Assumptions

Considering the evolving macroeconomic environment, the outlook projects a 7.0% annual return for a standard 60/40 stock-bond portfolio. Introducing a 25% allocation in alternative assets could enhance this forecast by 60 basis points and improve the Sharpe ratio by around 12%. Factors like automation and AI's impact on productivity, energy transition, and new technologies are…

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Tradeweb
December 05, 2023 BY Simon Mugo

Tradeweb Records $38.2 Trillion in November Trading Volume

The company's success in the rates market was particularly noteworthy. The daily average volume for U.S. government bonds grew by 19.5% year-over-year, amounting to $163.7 billion. Similarly, the European government bonds saw a 30.5% year-over-year increase, totalling $44.8 billion. Factors contributing to this growth include an expanded client base, diverse trading methodologies on the institutional…

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December 05, 2023 BY Elizabeth Anderson

AT&T gets Ericsson on board to build ORAN network

The ORAN network will cover an estimated 70% of AT&T’s wireless traffic in the US. With completion expected at the end of 2026, this constitutes the largest financial deal in Ericsson’s history. The 5G-driven ORAN products and solutions will streamline AT&T’s operations. This will establish a cloud-native open network, which will cut costs as it…

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