This decision comes after a series of approaches made by StoneX to CAB Payments since July 2024. The initial offer from StoneX valued CAB Payments at £1.15 per share, which was rejected by the CAB Payments board. A subsequent revised offer of £1.45 per share was also considered but ultimately declined. The revised proposal consisted…
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Essentially, the companies executed the first blockchain-based SGD transaction using Ant International's blockchain-based Whale platform. "To enable this transaction, Standard Chartered plugged into Ant International's Whale Platform to offer the liquidity necessary to conduct this transaction which is a significant step forward towards instant and 24/7 treasury management," reads the press release. The approach optimises…
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The company revealed Wednesday that the number of active customers increased by 25% year-over-year, reaching 11.4 million. Revenue surged 19% to £591.9 million, driven by a 19% increase in cross-border volume to £68.4 billion. Reported profit before tax came in at £292.5 million, rising a significant 51% from the previous year. Wise said it continues…
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According to FINRA, from August 2019 to June 2023, Morgan Stanley failed to establish and document a robust system to prevent the entry of erroneous orders. It is said that the firm's procedures for placing new clients into groups with specific order controls were unclear, and the rationale for setting thresholds for order size and…
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Scheduled for implementation in 2025, subject to regulatory approval and technical readiness, the web-based platform aims to streamline the in-kind creation and redemption process for relevant ETPs. HKEX explains that by leveraging distributed ledger technology (DLT) and smart contracts, it intends to connect key ETP participants, enhancing operational efficiency and boosting overall market liquidity. "Speed…
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The company explained that the move strengthens its position in the Canadian financial services market, enabling it to offer comprehensive wealth management and capital markets solutions to Canadian firms. The acquisition of SIS, which specialises in clearing and settlement, account record keeping, tax and regulatory reporting, and integrated order management, align with Broadridge's target of…
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The company explained that the service enhances market transparency and efficiency, offering traders insights into order execution and cancellation processes. They added that the new service is available on all Cboe-affiliated U.S. Equities Exchanges, providing market participants with detailed information about order and cancel messages. By analysing timestamp data, traders and participants are able to…
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The company revealed in a press release that the integration, along with a direct settlement account with the Bangko Sentral ng Pilipinas (BSP), will significantly enhance cross-border payment experiences for millions of Wise customers and its platform partners. Via its direct connection to InstaPay, Wise can now offer instant transfers of up to 50,000 Philippine…
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CLS explained in a press release that the move is expected to significantly improve operational efficiency and reduce risk for the bank. CLSNet, a platform designed to standardise and centralise post-trade processes for over 120 currencies, has gained traction in recent years. By joining the network, CLS said MUFG will benefit from the expanding roster…
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The company revealed that StoneX is currently conducting due diligence as part of the process. Earlier this month CAB Payments said it had received an unsolicited non-binding proposal from StoneX at 145p per share. "Discussions with StoneX are continuing and StoneX and its advisers are undertaking due diligence," CAB Payments said in its release on…
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