Category: Institutional

July 29, 2021 BY Steffy Bogdanova

HSBC joins as a member of the cross-currency swaps service of CLS and IHS Markit

The cross-currency swaps service is an extension of CLS’s PvP settlement service. It also uses the MarkitSERV trade confirmation platform to enable members of CLSSettlement to send their cross-currency swaps for settlement. The cross-currency swap flows are multilaterally netted against all other FX transactions in CLSSettlement, which results in a meaningful reduction in daily funding…

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acquisition
July 28, 2021 BY Alan Sayer

11B Technologies acquired by 24 Exchange

These software options are mainly aimed at Crypto NDFs and Crypto Spot. As this is an area of the business that 24 Exchange is looking to enhance, it makes sense that these software solutions are the first to be added to the 24 Exchange platform. It will also add low latency software to the 24…

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UK CMA approval
July 28, 2021 BY Steffy Bogdanova

CME Group and IHS Markit’s joint venture gets approval from UK Antitrust Agency

The joint venture will combine the two companies’ post trade service. IHS Markit’s OTC derivatives and forex trade processing business  will work together with CME Group’s OTC derivatives optimization businesses, operating as Traiana, TriOptima and Reset. The CMA first opened the investigation in June 2021 over concerns of “lessening of competition within any market or…

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Starling Bank aims to float on stock market in 2022
July 23, 2021 BY Alan Sayer

Starling Bank aims to float on stock market in 2022

Revenue for the bank also rose sharply during the latest accounting period. The bank posted revenue of almost £100 million, an increase of nearly seven times the previous revenue of £14 million. These improved financial results combined with relaxed laws around going public means that Starling Bank is looking into the opportunity to float. After…

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July 23, 2021 BY Steffy Bogdanova

European Union approves CME Group and IHS Markit’s joint venture

The statement said: The proposed transaction is largely complementary, and results in a few technically overlapping areas between the companies’ activities relating to trade processing products. The new joint venture will provide trade processing and risk mitigation services for global OTC markets across interest rate, FX, equity and credit asset classes. Business information provider S&P…

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acquisition
July 23, 2021 BY Steffy Bogdanova

Singapore Exchange acquires MaxxTrader in a $125 million deal

Manish Kedia, designated Chief Executive Officer, MaxxTrader, said: We share SGX’s FX vision to offer buy-side and sell-side clients a wide range of FX products and liquidity across OTC and futures globally. With SGX’s strong focus and investments in FX, we expect to accelerate innovation and deliver exciting new solutions for both our clients and…

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saxo bank revenues
July 20, 2021 BY Steffy Bogdanova

Saxo Bank teams up with Thoughtworks to leverage business data

The data governance solution, developed during the course of the digital partnership, enabled teams and decentralized decision making. As a result, Saxo has been able to move their open banking objective ahead and to improve upon it. Graham Stirling, Head of Data Platforms at Saxo Bank, said: Saxo have been on the journey towards a…

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Acquisition
July 20, 2021 BY Alan Sayer

Plus500 finalises acquisition of Cunningham Commodities

This latest acquisition is a continuation of Plus500’s strategy of acquiring companies to expand its geographical reach. This is a two-part process that the company carries out as it invests internally in its products and acquires companies that allow access into new markets. David Zruia, CEO of Plus500, had this to say: With a combination…

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Broadridge Financial Solutions
July 19, 2021 BY Steffy Bogdanova

Broadridge Financial Solutions partners with OpenFin

Mazy Dar, CEO of OpenFin, commented: We’re excited to be a strategic partner with Broadridge, helping clients accelerate and adapt to advanced digital workspace solutions. Providing an adaptable interface customizable to user preferences will help c’s clients boost productivity and simplify the investment management process. OpenFin’s operating system enables traders and portfolio managers to manager…

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