Foreign exchange

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/markets

TP Icap to launch electronic FX trading platform in Singapore

TP ICAP Group, a leading electronic market infrastructure and information provider, today announced that it will launch an electronic Foreign Exchange trading platform in Singapore, with support from the Monetary Authority of Singapore (“MAS”).

/payments

Currencies Direct scores £140m investment from Blackstone

Palamon Capital Partners (“Palamon”), a pan-European growth investor, and Corsair, a leading private equity firm targeting services, software, and payments investments in the financial services market, today announced that funds managed by Blackstone Tactical Opportunities (“Blackstone”) have agreed to make a £140 million strategic investment in Currencies Direct (the “Company”), a leading global provider of digital foreign exchange (“FX”) and international payment services to private clients and small and medium sized enterprises (SMEs).

/Foreign exchange

MillTechFX adds ex-HSBC CEO to advisory board

MillTechFX, the FinTech affiliate of Millennium Global Investments, has appointed Stuart Gulliver, former HSBC Holdings Plc Chief Executive Officer, to its International Advisory Board.

/wholesale

GC Partners rolls out hedging tool for corporate treasuries

Global cross border payments fintech GC Partners has launched a brand-new service to help corporate clients monitor their hedging strategies.

/crypto

Cobalt partners with institutional crypto network DeFinity

LONDON, Dec. 22, 2021: DeFinity, an institutional digital asset ECN and DeFi marketplace for fiat FX, Cryptocurrencies and Central Bank Digital Currencies, partners with Cobalt, a market infrastructure provider focused on re-engineering the institutional FX and digital asset markets to facilitate real-time clearing, settlement and dynamic risk and credit management.

/markets

OFX acquires Firma Foreign Exchange Corporation

OFX Group Limited (OFX) today announces that it has entered into an agreement to acquire 100% of Firma Foreign Exchange Corporation (Firma) for a total consideration of C$90m (A$98m).

HSBC and Wells Fargo achieve PvP settlement finality with DLT

/payments

HSBC and Wells Fargo achieve PvP settlement finality with DLT

HSBC and Wells Fargo have completed the first interbank Payment vs Payment (PvP) settlement outside of CLS using distributed ledger technology from Baton Systems.

/crypto

Ledger and FTX partner for digital assets trading

Ledger, the maker of the world’s most popular hardware wallet and gateway to Web3, today announced its partnership with FTX, a leading global cryptocurrency exchange.

/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.

Dinosaur Merchant Bank launches remittance service

/inclusion

Dinosaur Merchant Bank launches remittance service

Investment firm Dinosaur Merchant Bank has partnered with Rational FX to offer web and app-based money transfer services.

/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.

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