Foreign exchange

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/wholesale

Finastra and HSBC collaborate to bring Banking-as-a-Service FX capability to mid-tier banks

Finastra and HSBC announced today that they are working together to distribute HSBC’s FX services via Finastra’s FusionFabric. cloud platform under a Banking as a Service (BaaS) experience.

/payments

Klarpay becomes Visa principal member

Swiss fintech Klarpay AG has signed a global partnership with Visa on becoming a Principal Member of the Visa network – the membership grants Klarpay the ability to access Visa's bank-to-bank cross-border business transactions network, as well as to support direct card issuance.

/payments

Knight Frank to offer branded Currensea card for employee donations

Knight Frank, the property consultancy, is offering its 2,220 UK employees a company branded, money-saving debit card which allows them to make charitable donations and reduce foreign exchange fees when spending abroad. The partnership with Currensea, which has created the open banking-enabled debit card linked to existing bank accounts, launches today for use in the UK and abroad.

/payments

Derivates Path teams up with Goldman Sachs to deliver FX and global payments to US community banks

Derivative Path, a leading provider of capital markets technology and derivatives execution services to regional and community banks, announced it is collaborating with Goldman Sachs Transaction Banking (TxB) to offer an automated, digital-first payments platform to help financial institutions with spot foreign exchange and international payments.

/markets

DKK Partners makes global push

DKK Partners, a leading fintech company, which specialists emerging markets (EM) foreign exchange (FX) liquidity, has announced a major global expansion as the company’s revenues surpass £63m - up from £3m the previous year.

Big banks test DLT-based intraday FX swaps and repo trading platform

/markets

Big banks test DLT-based intraday FX swaps and repo trading platform

Teams from 14 banks, including Barclays, NatWest and Citi, have trialled a DLT-based intraday FX swap and repo trading platform from Finteum.

/payments

Revolut introduces fee-free USD transfers to UK customers

Companies in the UK can use US bank details to accept payment from US customers with no fees via Revolut Business.

/markets

Baader Bank taps Bloomberg Rule Builder for automated equities trading

Bloomberg today announced that Baader Bank AG, a leading investment bank in Germany, has adopted Bloomberg’s Rule Builder (RBLD), to automate its equities trading processes and optimize the performance of the firm’s buy-side trading desk using additional insights gained from Bloomberg Transaction Cost Analysis (BTCA).

/markets

FXall and Tradeweb to connect local bond and currency trading in emerging markets

FXall and Tradeweb Markets have announced that they will collaborate to develop hedging workflow solutions to allow emerging market products to be traded more efficiently.

Santander launches instant payments into Brazil from Europe

/payments

Santander launches instant payments into Brazil from Europe

Santander’s SME and corporate clients in Spain, from today, will be able to make immediate international payments to recipients in Brazil, in Brazilian Real, through the One Trade solution.

/wholesale

MillTechFX expands into Europe

MillTechFX, the FinTech affiliate of Millennium Global Investments, has expanded into Europe following the success of its multi-bank foreign exchange (FX) marketplace in the UK and North America.

/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.

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