The removal of these Russian banks from SWIFT was seen as drastic and unlikely a week ago, in the beginning of the invasion. It is one of the most powerful tools Western countries have to make Russia change course. Russia's largest lender Sberbank and Gazprombank were not included as they are the main channels for…
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The European Central Bank (ECB) had already ordered Sberbank's European unit to close. Sberbank has branches in many European counties including Austria, Croatia, Germany and Hungary. The bank’s Switzerland arm is not affected by the exit. Moscow Exchange The Moscow Exchange will not resume operations on Wednesday. The Russian markets operate pushed back the opening…
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Sberbank Europe issued a statement on the current situation: In the light of the latest geopolitical developments, several banks of Sberbank Europe Group registered significant outflow of client deposits within a very short time. In some subsidiary banks, this resulted in long waiting times in branches and partially in restricting the amount of daily cash…
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The official statement said: Due to the technical impossibility trade instruments involving Russian Ruble, all further trading is being discontinnued immediately. Any positions left open will be closed at following price levels: EUR/RUB long positions at 111.887; EUR/RUB short positions at 115.3272; USD/RUB long positions 101.457; USD/RUB short positions 102.323
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Forex Market The Russian finance ministry and Russia’s central bank have ordered domestic exporting companies to sell 80% of their forex reserves in order to help the rouble which plunged 30% against the dollar earlier today. The western governments imposed increasingly stricter sanctions on Russia following President Putin’s decision to invade Ukraine. As part of…
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Upon completion of the transaction is, TORA will become part of LSEG’s Data & Analytics division. Andrea Remyn Stone, Group Head, Data & Analytics LSEG, said: Combining TORA’s multi-asset technology and global expertise with the strength and breadth of LSEG’s Data & Analytics division will create a compelling customer proposition. This acquisition is a great…
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Acquisition bids The London-listed gaming software company had previously received a £2.7 billion takeover bid from Aristocrat Leisure which fell short of the minimum of 75% votes needed for approval. Two other companies have also expressed interest in Playtech acquisition. Gopher, who recently bought Playtech’s financial division Finalto in a $250 million deal, and JKO…
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Intermonte offers brokerage services, investment banking, its business covers global markets, and advisory & digital channels. The investment bank serves Italian SMEs and domestic and international institutional investors. Its digital channel provides a range of services for consultancy to retail clients and financial advisors. Gianluca Parenti, Head of Digital Division & Advisory at Intermonte said:…
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Diego Baptista, Director at Solid commented: We are delighted to be working with Simon Blackledge, CEO and Founder of BidX Markets and his entire team that is quickly expanding. This strategic partnership and the investment we have made into one of the up-and-coming trading solutions providers will open new opportunities for both firms within the…
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Richard Elston, Group Head of Institutional at CMC Markets Connect, commented: The partnership with Integral is the latest step in our mission to continue extending our institutional reach. By leveraging the network of a recognised industry leader, we’re making our pricing and liquidity available to an even wider audience, whilst our single stock CFD offering…
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