Markets

A taskforce representing buy and sell-side firms and market infrastructure providers in Europe has urged the UK, Switzerland, and the EU to conduct plans that will lower the settlement cycle needed for securities trades. The group has made this request...

Innovate Finance and KPMG have tabled proposals for “potential scenarios” to bring Open Finance to the UK. In a joint report, the two entities sought to ignite debate and discussions among legislators and stakeholders in the industry. The scenarios announced...

Core banking provider Temenos has concluded a probe that has determined that a report by Hindenburg Research is “inaccurate and misleading.’ In February 2024, Hindenburg tabled a report accusing Temenos of “accounting irregularities, failed products and an illusive turnaround.” Hindenburg...

Landesbank Baden Württemberg (LBBW), the largest federal bank in Germany, has partnered with the Bitpanda cryptocurrency exchange to provide digital asset custody services. The crypto custody platform launched through this partnership is set to launch during the second half of...

Officials from the US and Europe have been discussing ways to protect consumers amid a rise in technology use in payments. The officials are discussing the impact of technologies like artificial intelligence (AI) and the increased adoption of the buy...

EQT and its co-stakeholders have approved the sale of Rimes to Five Arrows, in a transaction that, as per reports, evaluates the data entity at about €800 million to €900 million. Established in 1996, Rimes partners with 60 of the...

Empower Finance has revealed its plans to acquire the US-based credit card fintech Petal, which offers alternative financial products and credit underwriting for underserved users in Mexico and the US. This acquisition is anticipated to close later this quarter. Petal...

EBA Clearing is planning to launch a continent-wide Verification of Payee solution before the year concludes. The feature will be ready by December. It will assist payment service providers (PSPs) in providing IBAN/name-matching solutions to their clients for their Sepa...

The European Central Bank has collaborated with various investors for exploratory work, aiming to distribute ledger expertise to resolve wholesale transactions within the central bank money. The initial wave of trials will include five central banks, six market DLT operators,...

Gresham Technologies, a London-based financial technology company, has agreed to be acquired by a private equity firm in a cash transaction valued at £146.7 million. Gresham's board has given its approval to a proposal from Alliance Bidco, an entity indirectly...

Google Cloud has shared information regarding its collaborations with major financial services - Discover, Scotiabank, and Citadel Securities. This was during its once-in-a-year Las Vegas event. Prominent market maker Citadel partnered with Google Cloud to develop the innovative version of...

Tradeweb Markets has announced the purchase of a financial service technology provider for organizations, Institutional Cash Distributors (ICD), for $785 million. The company runs electronic marketplaces for credits, rates, money markets, and equities for retail, wholesale, and institutional customers. The...

London Clearing House (LCH) has received regulatory authorization to process cash-based Bitcoin index stocks and options contracts. The Chief Executive Officer of LCH, Corentine Poilvet-Clédière expressed excitement for receiving regulatory clearance to introduce this new service. He added that the...

The People’s Bank of China has set up a re-lending program worth $70 billion (500 billion yuan) as it aims to speed up the growth of the science and technology industries. According to the announcement, the program will be offering...

Earlier this month, Bank of Ireland suffered a glitch that blocked users from having access to their accounts. The glitch also prevented them from concluding their credit card transactions. Now, the bank has come out with an explanation regarding the...