According to FINRA, from August 2019 to June 2023, Morgan Stanley failed to establish and document a robust system to prevent the entry of erroneous orders. It is said that the firm's procedures for placing new clients into groups with specific order controls were unclear, and the rationale for setting thresholds for order size and…
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Scheduled for implementation in 2025, subject to regulatory approval and technical readiness, the web-based platform aims to streamline the in-kind creation and redemption process for relevant ETPs. HKEX explains that by leveraging distributed ledger technology (DLT) and smart contracts, it intends to connect key ETP participants, enhancing operational efficiency and boosting overall market liquidity. "Speed…
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The company explained that the move strengthens its position in the Canadian financial services market, enabling it to offer comprehensive wealth management and capital markets solutions to Canadian firms. The acquisition of SIS, which specialises in clearing and settlement, account record keeping, tax and regulatory reporting, and integrated order management, align with Broadridge's target of…
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The company explained that the service enhances market transparency and efficiency, offering traders insights into order execution and cancellation processes. They added that the new service is available on all Cboe-affiliated U.S. Equities Exchanges, providing market participants with detailed information about order and cancel messages. By analysing timestamp data, traders and participants are able to…
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The company revealed in a press release that the integration, along with a direct settlement account with the Bangko Sentral ng Pilipinas (BSP), will significantly enhance cross-border payment experiences for millions of Wise customers and its platform partners. Via its direct connection to InstaPay, Wise can now offer instant transfers of up to 50,000 Philippine…
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CLS explained in a press release that the move is expected to significantly improve operational efficiency and reduce risk for the bank. CLSNet, a platform designed to standardise and centralise post-trade processes for over 120 currencies, has gained traction in recent years. By joining the network, CLS said MUFG will benefit from the expanding roster…
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The company revealed that StoneX is currently conducting due diligence as part of the process. Earlier this month CAB Payments said it had received an unsolicited non-binding proposal from StoneX at 145p per share. "Discussions with StoneX are continuing and StoneX and its advisers are undertaking due diligence," CAB Payments said in its release on…
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The company said the strategic move aims to strengthen HKEX's presence in the Middle East and facilitate greater connectivity between the two regions. HKEX is aiming to promote new opportunities for its customers and issuers, with the Riyadh office predicted to serve as a crucial hub for HKEX to engage with investors and companies. Saudi…
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The new facilities are said to house a combined workforce of 800 employees, significantly bolstering the company's presence in the country. Since establishing its Global Capability Centre in India in 2019, StoneX has experienced solid growth and now employs over 550 staff in-country, contributing to its global workforce of more than 4,300 employees. Greg Kallinikos,…
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The investigation originated from Käärmann's inclusion on the HMRC list of individuals who received penalties for deliberate tax defaults in 2017/2018. While the FCA said in its release that it did not find that Käärmann acted with a lack of integrity or was unfit to perform his role, it determined that he should have notified…
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