Founded in 2014, IS Prime is authorized and regulated by the UK Financial Conduct Authority (FCA) to offer tier 1 liquidity aggregation, prime of prime, agency execution, and non-fx liquidity. The company’s proprietary technology provides a low latency access to liquidity in more than 80 foreign exchange crosses, spot precious metals, index swaps, and commodity index swaps.
“Identifying risk can be an overlooked aspect of managing a portfolio. With this launch, we aim to make risk management simpler by arming traders with the ability to visualize potential pockets of risk and stress test their portfolio through hypothetical market conditions. In this way, traders can now develop a more dynamic and easy-to-understand view of their portfolio and potential performance in various market conditions.”
“The relentless push for efficiency and the demands of global regulatory reporting have reached a tipping point in the securities financing markets. As such, an electronic trading solution for these markets seems inevitable. Becoming a registered ATS and broker-dealer is the next major step in our company’s evolution and in helping to drive forward this structural shift in the market.”
While traditionally, a CCP margin call needs to be covered by euro collateral within a short time frame as regular hours of central banks and central securities depositories usually end at 18:00 CET, the blockchain solution may completely change the operational habits of the financial system. The consortium was able to handle the margin call, the securities collateral delivery and the return process within minutes.
Walter Verbeke, Global Head of Business Model and Innovation at Euroclear, added:
The Australian Payments Network (AusPayNet) has released its most recent Digital Economy report which found that Australia’s shift to a digital economy is accelerating. Digital payments are rapidly increasing while cash and cheques decline.
Matthew Cheung, Chief Executive Officer of ipushpull commented:
“The BT Radianz Cloud is a driving force of innovation delivering new ways for community members to grow, address regulations and drive efficiency. The introduction of ipushpull’s new service is a great example of how the Radianz community creates win-win scenarios for institutions and service providers alike. Institutions can now access ipushpull’s innovative data sharing services via their highly-secure and resilient Radianz Cloud connections, while ipushpull benefits from a ready-made marketplace with thousands of potential clients.”
tZERO and BOX Digital will be sharing economic ownership and board representation equally. The former will power the technology required to create and operate the joint venture, as well as manage the ongoing technology implementation, administration, maintenance and support.
“We will work closely with the SEC to create a framework for the safe and efficient trading of security tokens and our joint venture with tZERO marks a significant step that brings us ever closer to creating the industry’s first regulated exchange for security tokens,” said Fall. “With BOX’s experience in building and operating a sophisticated equity options marketplace and tZERO’s industry leading blockchain technology, we have brought together our organizations’ combined expertise to create a more efficient capital market that will benefit traders and issuers.”
Patrick Byrne, CEO of Overstock.com and Executive Chairman on tZERO, said:
Cinnober, a leading exchange and real-time clearing technology provider based in Sweden, announced the appointment of Peter Lenardos as the new Chief Financial Officer (CFO) for the Cinnober Group as current CFO Ninni Pramdell intends to leave the company for other opportunities.
Lenardos was expected to move to Macquarie’s European arm after a statement in May announcing that he would become the new Head of Financial Research. The veteran professional, with experience both as an investment banker and ranked research analyst, seems to have rejected that option as he joins Cinnober.
Cinnober hired Lenardos not only for his experience but also for its extensive international network in the institutional investment community, and among global market infrastructure and asset management companies. Lenardos will be based in both Cinnober’s London and Stockholm offices.
With proven transaction, capital raising, valuation, and forecasting skills, Lenardos is a dually naturalized US and UK citizen holding a Bachelor’s degree in accounting from the University of Notre Dame, where he graduated summa cum laude. His MBA in finance from Northwestern University’s Kellogg School of Management was obtained with distinction.
Veronica Augustsson, Chief Executive Officer of Cinnober Group, commented:
“Peter has unique experience, knowledge and a broad network within the international finance industry. Peter brings a lot of value to our business, both for the investor community as well as the customer base. Coupled with his deep financial and accounting skills, this means that he is well suited to take on the role of the Group’s new CFO and we are very pleased to have him join the management team.”
Peter Lenardos has been Senior Financial Advisor to Cinnober since April, one month prior to Macquarie’s announcement. He was Managing Director in the Royal Bank of Canada’s (RBC) London office for nearly seven years until January 2018. At the bank, he established the global market infrastructure and European diversified financials franchises, and participated in 6 IPOs raising £1.4 billion and 4 capital raises for existing public companies raising £1.3 billion.
“I would like to thank Ninni for her time at the company. She has contributed strongly to a further developed and well-functioning financial and accounting function. We wish her all the best in her future challenges”, Augustsson added.
AlphaPoint, a fintech company that develops white label exchange and asset digitization technology based on blockchain, has raised $15 million from Michael Novogratz, a former hedge fund manager at Fortress Investment Group, in a Series A funding round.
“The market opportunity for digitizing illiquid assets is tremendous. Consumers are demanding increased access, transparency and trust. Businesses are seeking increased liquidity with reduced fraud, risk, and cost. Executing on this market opportunity requires proven best-in-class technology alongside seasoned management teams with substantial experience providing new technology to a variety of financial institutions. AlphaPoint brings this rare combination together and I look forward to working with them.”
Salil Donde, Chief Executive Officer of AlphaPoint, joined the company in late 2017 from Nasdaq, where he was Executive Vice President of Global Information Services. He added:
Leading social trading company eToro has announced that clients can now invest directly in shares on the platform free of ticket or management fees. The new offering includes fees in the spread of 0.09% per side and eToro will absorb stamp duty for UK shares.
CFD trading, which allows leveraged investments and short-selling, has been the only method that eToro clients had to expose themselves to the stock market. Now, users also have the option to own the underlying asset.
The option to buy shares allows eToro users to buy shares with the cost of stamp duty excluded from the price, receive dividends on the ex-dividend date rather than waiting for issuance while enjoying instant execution and settlement at a fixed price. The offering can also be used on eToro’s social trading feature where customers can copy other investors’ trading moves. Users are also welcomed to invest in the broker’s curated CopyFund portfolios.
By adding shares to its investment offering, the innovative broker allows users to hold shares, cryptocurrencies, ETFs and thousands of other financial assets all in one portfolio.
Yoni Assia, Founder and Chief Executive Offcer of eToro, commented:
“eToro enables people to invest in the assets they want to own, from newly available assets such as cryptocurrencies to more traditional options like shares or commodities. We want investors to be able to hold all these assets in a single portfolio.
“Price really matters and we think ticket and management fees are exactly the kind of old world practices that put many people off investing. That’s why we’re not charging them, and absorbing stamp duty to boot. We’re making it easy to invest, and that means rethinking some of the outdated practices investors might be used to from other investment providers. It also means we’ll continue to expand the range of assets we make available to our 10 million users.”
eToro announced that it will absorb stamp duty for UK shares, which is charged at 0.5% on transactions over £1,000. By absorbing stamp duty, eToro lifts a burden from investors who would otherwise be potentially discouraged from taking the risk.
Typically, a £10,000 investment in a UK listed company incurs a £50 stamp duty charge for the investor on top of the platform’s own fees and charges. eToro’s pricing would only expose the investor to a total fee of £21 as user would pay no stamp duty.
The broker has expanded its trading portfolio to thousands of shares available across European, Asian and US markets with more due to be added to the platform in the coming months. Additionally, eToro has opened its arms to the cryptocurrency market and allows the trading of 10 digital assets, with further coins to be added throughout 2018.
“Over the last 12 months, we’ve seen our investment community grow to over 10 million people around the world. Many of our customers are investing for the first time and they’re investing in cryptocurrencies. They’ve told us that they want to invest in other things, just as easily as eToro allows them to buy into cryptocurrencies, and to be able to have everything in one portfolio. Now, people can invest in shares with the same ease they enjoy when investing in cryptocurrencies”, Yoni Assia added.