BaFin stated: It requires contributors to have in place effective systems and controls. Contributors are natural or legal persons who contribute data for determining benchmarks. In the European Union, the Euro Interbank Offered Rate (EURIBOR) is used as benchmark, for example. Breaches of the Benchmarks Regulation can result in a fine which can reach up…
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Deutsche Bank highlighted its growing presence in the APAC region, moving up the list of the top-ranked liquidity providers in APAC in Euromoney’s annual FX Survey. Chris Bezuidenhout, CIO for Corporate & Investment Bank in APAC and Global Emerging Markets said: We continue to invest in sharpening our technology to ensure that our electronic offering…
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Better Payment’s "online payment gateway" is offered as a "white label" solution to other companies including banks, financial service providers or SaaS. These companies then use it as an addition to their own product portfolio and offer the technology enhanced with their own services Deutsche Bank expects high growth rates over the coming years in…
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ASIC announced that Societe Generale Securities Australia Pty Ltd (SGSAPL) has met the additional Australian financial services (AFS) licence conditions imposed on the company and they were removed on 3 June 2021. The licence conditions imposed on SGSAPL in June last year required the company to appoint an independent expert to assess and test the…
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Deutsche Bank and Fiserv plan to bring multiple payment solutions together, complementing Deutsche Bank’s banking offering. It will ultimately save merchants from having to enter into multiple contracts with a variety of payment providers. Stefan Hoops, Head of Corporate Bank at Deutsche Bank, said: By combining Fiserv payment solutions with our banking products, we will…
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Credit Suisse recently posted net loss of CHF 252 million in Q1 2021. The numbers reflected a significant charge in relation to the US-based hedge fund matter. The company descended into crisis after the collapse of US investment firm Archegos and suspending funds linked to the fallen British supply chain finance company Greensill Capital, reported…
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Robinhood has announced Christine Brown will lead its crypto division as Chief Operating Officer. At her new position, she’ll oversee all of crypto operations and compliance. Brown will also keep her current position of Robinhood Markets’ VP of Product Operations. The Crypto division is part of Robinhood’s efforts to expand access to financial services to…
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Singapore is notably in the top rankings of trading destinations for FX on a global basis. The Bank of International Settlements (BIS) has reported that Singapore is only marginally trailing behind the UK and the US in the multi-trillion dollar FX market. While distributing up-to-date market statistics for last month, SGX revealed a surge in…
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Logan Campbell, Global Head, FX Derivatives, Deutsche Bank said: Clearing non-deliverable FX options is a natural product extension to complement cleared non-deliverable forwards. This enables us to benefit from clearing a wider range of our non-deliverable FX products, reducing operational complexity and increasing capital efficiencies with the reduction of risk weighted assets possible through clearing.…
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The institutional unit of FXCM Group, FXCM Pro, announced its has teamed up with trading technology provider Tradesocio. The two companies collaborated to provide banks, brokers, asset managers and other buy-side institutions with a full fintech solution that combines Tradesocio’s digital investment and trading technology with FXCM Pro’s institutional liquidity and global scale. Tradesocio’s client base…
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