LiteFinance Addresses Gold
Quote Error
LiteFinance
has reported a pricing error with gold quotes due to a liquidity provider’s
failure which occurred on 13 November 2023. The firm is actively working to
rectify the issue and adjust affected transactions.
“If
your positions have been affected by the failure, please contact the
LiteFinance trading department. Our specialists are ready to provide you with
the necessary assistance immediately,” the company commented in the official
announcement.
Spectrum’s Record Trading
Volume
Spectrum
reported an unprecedented trading volume of securitized derivatives in October
2023, with a significant portion occurring outside of traditional trading
hours. The trades were predominantly index-based, with the DAX 40, S&P 500,
and NASDAQ 100 being the most traded underlying markets.
“In October 2023, 179 million securitized derivatives were traded on Spectrum,
the highest ever volume of instruments traded on the venue, with 34% of trades
taking place outside of traditional hours,” Spectrum Markets commented.
MAS Expands the Frontier
of Asset Tokenization
The
Monetary Authority of Singapore (MAS) is advancing its efforts in the asset tokenization
realm through Project Guardian. Collaborating with a consortium of 17 financial
institutions, the project has launched five additional pilots exploring the
potential of asset tokenization.
These
pilots include a variety of applications, from real-time analytics in digital
asset trades to multi-currency treasury management solutions and the tokenization
of money market funds. A notable MAS pilot involves the native issuance of Variable
Capital Company funds on digital asset networks, aiming to streamline and
expand the distribution channels for asset managers.
Important Blockchain Repo
Transaction
UBS, SBI,
and DBS have executed the world’s first cross-border repo using a
natively-issued digital bond on a public blockchain. This transaction, part of
MAS’ Project Guardian, demonstrates the potential for blockchain to
revolutionize the cross-border distribution and settlement of capital market
instruments.
The
transaction showcases an automated and instantly settled repo, establishing a
blueprint for future transactions. This achievement illustrates the potential
of blockchain technology in enhancing liquidity management and setting a
precedent for the utilization of regulated digital payment tokens in a
compliant framework.
TradingView Enhances
Public’s Platform
Public’s
investing platform has integrated TradingView’s Advanced Charts, enriching the
trading experience with real-time quotes and a suite of analytical tools. This
partnership has further solidified Public’s dedication to accessibility and
transparency in trading.
The
collaboration with TradingView brings market research capabilities to Public’s
users, which include a range of investors from novices to seasoned traders.
Public continues to distinguish itself as a leading neobroker, focused on
providing a robust, transparent trading environment.
“On
Public, traders can diversify their portfolio with stocks, Treasury bills,
ETFs, cryptocurrencies, and alternatives such as music royalties,” the
company commented.
SFC’s Legal Action against
Former Chairman
The
Securities and Futures Commission (SFC) has obtained court orders against the
former Chairman of Kong Sun Holdings Limited and China Sandi Holdings Limited
for fraudulent activities. Tse On Kin was found to have secretly profited from
share placements and has been disqualified from corporate management roles for
a decade.
He has also
been ordered to pay restitution and cover the SFC’s legal costs. This case
underscores the SFC’s commitment to upholding market integrity and enforcing
accountability.
Ant International’s
Treasury Management via Web3
Ant
International has introduced its next-generation treasury management solutions
at the Singapore Fintech Festival, powered by Web3 technologies. This approach
promises to enhance the efficiency and transparency of global fund movements,
leveraging advancements like advanced encryption, zero-knowledge proof, and
decentralized finance.
“Web3
technologies are enabling a new wave of digital transformation and digital
collaboration, bringing innovations on the value movement,” Kelvin Li, the Head of Global Fund Platform at Ant International, commented.
Canada’s Transition to T+1
Settlement Cycle
Canada is
poised to transition to a T+1 settlement cycle in May 2024, a day ahead of the
U.S. due to market operation schedules. The change, aimed at increasing market
efficiency, will involve an asymmetric processing schedule to accommodate the
non-aligned transition with the U.S. This initiative reflects the Canadian
Capital Markets Association’s efforts to synchronize with global market
practices.
FCA’s Restrictions on KBFS
Financial Limited
The
Financial Conduct Authority (FCA) has placed restrictions on KBFS Financial
Limited due to its failure to pay redress for unsuitable pension-transfer
advice and non-cooperation with regulatory requests. This measure prevents the
firm from engaging in regulated activities and accessing its assets,
emphasizing the FCA’s resolve to protect consumers and enforce compliance.
Adyen’s Capital Launch for
Australian SMBs
Adyen has
launched its Capital product for Australian merchants, addressing the liquidity
needs of small and medium-sized businesses (SMBs) with timely funding
solutions. This initiative, backed by research indicating significant interest
from SMBs in embedded financial services, enables businesses to offer
pre-approved, easily accessible loans based on payment data. Adyen’s innovative
approach aims to provide added value to merchants and simplify funding for
SMBs.
“No
one understands SMBs better than our platform merchants, and we’re proud to
help them offer more value embedded in their ecosystem by using Adyen – from
processing payments to facilitating funding for their users,” Hayley
Fisher, the Country Manager for Australia and New Zealand at Adyen, said.
This article was written by Damian Chmiel at www.financemagnates.com.
