Foreign exchange

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/markets

MillTechFX and Investec launch FX hedging offering

MillTechFX, the FinTech affiliate of Millennium Global Investments, has partnered with Investec Bank plc, the global bank and wealth manager, to provide fund managers with an innovative margin-free foreign exchange (FX) hedging solution which enables transparent best execution across 10+ counterparty banks without the cash drag associated with having to fund initial and variation margin calls.

/crypto

Binance Asia takes stake in Singapore HG Exchange

Binance Asia Services, the blockchain ecosystem and cryptocurrency provider behind Binance.sg, today announced its post-money stake of 18% in Hg Exchange (HGX), subject to regulatory requirements.

/markets

State Street, Vanguard and Symbiont complete live trade for FX forward contracts using blockchain

State Street Corporation (NYSE:STT), in collaboration with Vanguard and Symbiont, announced today that the firms have jointly completed the margin calculation process for a live trade of a 30-day foreign exchange forward contract through the use of Assembly, Symbiont’s distributed ledger technology .

/regulation

EU fines banking giants €344 million over FX price fixing cartel

The European Commission has completed its cartel investigation into the Foreign Exchange (‘Forex') spot trading market by imposing fines on five banks.

/payments

CBA to absorb correspondent banking fees on customer FX transfers

Commonwealth Bank has announced it will absorb correspondent bank fees on all offered currencies for foreign exchange (FX) transfers in a move that is set to save customers millions of dollars every year.

/regulation

Finastra upgrades Fusion Libor Transition Calculator

Finastra has introduced additional Alternative Reference Rates (ARR) and Risk-Free Rates (RFRs) to its Fusion LIBOR Transition Calculator.

/wholesale

SmartTrade acquires TickTrade

smartTrade Group (“smartTrade”), a leader in multi-asset electronic trading solutions, today announced the acquisition of TickTrade Systems Inc. (“TickTrade”), a Toronto-based technology firm providing next-generation FX trading and payments SaaS solutions for financial institutions.

/startups

Santander Germany chooses Ebury to support its SME customers

Ebury and Santander Germany are delighted to announce a new partnership to offer businesses in Germany a complete international finance solution to simplify international trade. By joining forces in Germany, clients will benefit from their combined services allowing them to trade with anyone from anywhere. The partnership has already been successfully trialled by a number of clients.

/markets

Enterprai unveils tools to help global macro players stay on top of financial markets

Enterprai - the AI-powered SaaS workstation for global macro professionals, pioneering predictive analytics for FX and fixed income markets - today launched a set of products offering global macro portfolio managers, traders, and analysts a new way to stay on top of financial markets.

/markets

TraderMade debuts forex data API portal

TraderMade, one of the UK’s leading global specialists in financial market data, has announced the launch of a forex data API portal enabling users to manage their own data plans.

/markets

Deutsche Bank e-FX trading hub in Singapore goes live

Deutsche Bank (XETRA: DBKGn.DB / NYSE: DB) today announced that it has completed its first set of live trades on its electronic foreign exchange (e-FX) hub, based in SG1.

/payments

YayPay by Quadient partners Flywire

Quadient, and Flywire Corporation (Flywire) today announced a new strategic collaboration to automate and digitize business-to-business (B2B) payments globally. As a result of the partnership, Quadient’s cloud-based accounts receivable (AR) management and automation solution, YayPay by Quadient, will extend Flywire’s digital payment solutions to its global B2B clients.

/regulation

CPMI calls for ideas on ways to expand PvP settlement

Settling FX trades can lead to significant principal risk exposures when one counterparty to a trade sends a currency payment to the other counterparty before receiving the currency it is buying.

/wholesale

CLS collaborate with 12 global banks to pilot PvP for a wider range of currencies

CLS, a financial market infrastructure delivering settlement, processing and data solutions across the global FX ecosystem, today announces its working group of 12 settlement members with global operations is participating in a pilot to evaluate potential payment-versus-payment (PvP) solutions for currencies that are not currently eligible for CLSSettlement.

/markets

RBL Bank picks Adenza for treasury platform

Adenza, the new company formed by the merger of Calypso Technology and AxiomSL to provide customers with end-to-end, trading, treasury, risk management and regulatory compliance platforms, today announced that RBL Bank, one of India’s leading private sector banks, who had implemented the Calypso Treasury solution for its FX, fixed income, money market, equity, mutual funds and repo operations, continues to leverage the platform for expanding its business further.

/markets

Spain's MEFF launches web-based FX derivatives trading platform

MEFF, the Spanish Derivatives Market, has launched BME FX, a web platform aimed at banks and other financial institutions, which will facilitate to hedge the currency risk with MEFF's xRolling FX futures contracts.

/wholesale

CLS introduces new FX datasets

CLS, a market infrastructure delivering settlement, processing and data solutions, today announces it is launching two new datasets to capture outstanding forward and swap positions in the FX market, in addition to making enhancements to its existing suite of alternative FX data products – CLSMarketData.

/crypto

SBI Liquidity Market expands smartTrade relationship

smartTrade Technologies, a pioneer in multi-asset electronic trading solutions, announces today an expanded partnership with SBI Liquidity Market, a Japanese leading FX infrastructure solution and liquidity provider.

/payments

Foreign Currency Direct rebrands to Lumon

Foreign Currency Direct (FCD) today launches as Lumon, bringing together customers from recent acquisitions including Infinity International and Earthport FX under one distinctive, forward-thinking brand. In the crowded overseas payments space, Lumon combines the companies’ expertise to bring bank-beating rates and cutting-edge technology together to provide clarity on moving money across borders for both business and personal customers across the portfolio.

/startups

Sydney Stock Exchange joins Fintech Australia

Sydney Stock Exchange (SSX) has joined FinTech Australia’s corporate partnership program, becoming the 13th new major member it has signed on in a year. SSX joins existing partners Xero, Amazon Web Services (AWS), Mastercard, EY, Facebook, Google, eftpos, IDEMIA, Regional Australia Bank, RSM Australia and the Newcastle Permanent Building Society.

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