Nasdaq gets the SEC green light for first AI exchange order type LeapRate

September 11, 2023 BY Elizabeth Anderson

Nasdaq gets the SEC green light for first AI exchange order type

Dynamic M-ELO aims to speed up order matches and minimise market impact, boosting the efficiency of an already speedy stock market even more. According to the exchange, this will establish better trading outcomes. This initiative follows predictive AI, the Strike Price Optimisation Programme, implemented in the Nasdaq U.S. options market earlier this year. It enhanced…

September 11, 2023 BY Elizabeth Anderson

FTX investigates possible fund recoveries from sponsored athletes

According to legal documents cited by Bloomberg, experts are trying to determine if all payments were above board. This includes sponsorships to well-knowns such as the NBA’s Shaquille O’Neal and professional tennis player, Naomi Osaka, who received approximately $3.2m from FTX. The once-prominent cryptocurrency exchange submitted its Chapter 11 filing for bankruptcy in November 2022.…

September 06, 2023 BY Elizabeth Anderson

Genesis closes the door of its U.S. crypto trading desk

The communication stated that the Genesis Global subsidiary would discontinue all over-the-counter operations and notified customers that all trades must be settled by the said date. GGT also indicated it would close all open accounts come the end of the month. In an official statement, GGT maintained voluntary business strategies and moves motivated this decision.…

September 01, 2023 BY Elizabeth Anderson

Qantas Airline faces lawsuit over fraudulent flights

The crux is that these flight cancellations were typically due to circumstances that fell within the airline’s control, including re-routing, availability of landing and take-off runways in airports, and consumer demand. In the court filing, the watchdog Australian Competition and Consumer Commission suggested that tickets remained available on various airline comparison sites and Qantas’ website…

September 01, 2023 BY Elizabeth Anderson

Google DeepMind co-founder calls for ethical Nvidia AI chips

Essentially, this would entail a restriction on the sale of Nvidia AI chips and only allow those with socially responsible agendas to acquire them. In a Financial Times interview, Suleyman said companies should agree to minimum global standards in line with the pledge of AI leaders to the White House. This pledge refers to the…

September 01, 2023 BY Elizabeth Anderson

UBS looks to axe 3,000 jobs in $10bn cost-cutting attempt

The bank, however, indicated these earnings were mostly assets acquired after the Credit Suisse takeover. The planned job cuts reflect the magnitude of the reshuffling needed after anxious clients withdrew billions when the Credit Suisse writing appeared on the wall. Don’t miss out the latest news, subscribe to LeapRate’s newsletter As workforce reductions create the…

August 30, 2023 BY Elizabeth Anderson

SEBA Bank gets approval-in-principle for Hong Kong crypto-asset operations

Upon receiving the final green light, SEBA Hong Kong’s regulated financial activities will include virtual asset-related products, such as over-the-counter (OTC) derivatives, consulting on securities and virtual assets, and performing asset management for both traditional and virtual securities. Don’t miss out the latest news, subscribe to LeapRate’s newsletter This move follows Hong Kong’s introduction of…

August 29, 2023 BY Elizabeth Anderson

Binance reconsidering strategic ties with Russia

Authorities believe Binance assisted and is assisting Russians to transfer funds out of Russia, despite the company’s claims that it stopped all operations in this country. This crypto exchange also stressed its support of Western-based sanctions against Russia after it invaded Ukraine. To align its activities with the said sanctions, Binance said it had limited…

August 25, 2023 BY Elizabeth Anderson

Swiss banks struggle to control money laundering risks

FINMA indicated it conducted this review because, when doing routine inspections, many institutions fell short regarding money-laundering risk analyses. FINMA did not name the banks in question but found the situation problematic as Switzerland is the world’s go-to for wealth management. The authority stated that: FINMA reviewed risk analyses of over 30 banks in spring…

August 24, 2023 BY Elizabeth Anderson

Australia's 'super' power is lifting the pension burden

The Intergenerational Report shows the aged pension will decline from 2.3% of GDP to 2 per cent by 2062-63, even as other cost associated with an ageing population soar. Super is already easing the cost burden of the pension. APRA’s superannuation bulletin has confirmed that super funds already pay out more than double in benefits…

Category: Financial Services