Commerzbank to write off €200m after scrapping outsourcing project with HSBC
The bank cites implementation risks and changed market conditions as the reasons behind its decision.
Trading Technology
Fintech funding deals globally 19 July – 25 July 2021
Featuring FTX, Soldo, Spendesk, Zilch and FloQast.
FinTech Futures Jobs: Three really great jobs to take a look at this week
Exciting vacancies at Plum, Viber and BNY Mellon. Apply today!
FTX Trading hits $18bn valuation with $900m Series B round
The Series B is one of the largest ever funding rounds for a crypto exchange.
Robinhood plans $35bn IPO as crypto arm predicts $30m probe settlement
Retail trading app expects to sell shares between $38 and $42.
Singapore start-up Bambu acquires investment and trading wealthtech Tradesocio
Bambu plans to tap into Tradesocio’s presence across EMEA and India.
Circle to go public in $4.5bn SPAC deal
The combined company plans to float on the New York Stock Exchange (NYSE).
Deutsche Börse acquires Swiss digital assets firm Crypto Finance
German group paid “a modest three-digit million” sum for the firm.
FINRA orders Robinhood to pay $70m penalty for “false and misleading information”
The sanction is the largest financial penalty issued by the regulator.
Broadridge appoints Ray Tierney as new president of Itiviti
The firm signed a $2.5 billion deal to acquire Itiviti earlier this year.
KeyBank goes live on SmartStream’s cloud-based collateral management tech
The Cleveland bank aims to reduce infrastructure costs by moving to the cloud.
European neobroker Scalable Capital raises $180m in Tencent-led funding round
This latest funding round brings the firm’s total capital raised to over $320 million.
Mauritius Commercial Bank adopts Mitech trade finance tech
Commercial bank to deploy its new platform on the cloud.
Ex-Wise employees found commission-free trading app Lightyear
Lightyear claims to be the only true commission-free retail trading app.
Intraday FX swaps move closer with 11-bank trial
The bank-led initiative uses the platform from London-based firm Finteum.
Trading floor: overcoming the dangers of personal mobile devices
There is now an immediate requirement for proper enforcement tools and the first line of defence.
Trade Republic plots European expansion with $900m Series C fundraise
German trading app aims for a roll-out across the euro zone.
Fintech funding deals globally 17-23 May 2021
Featuring Trade Republic, Pine Labs, Figure, DailyPay, and Sunbit.
An era of digital trade
Technology creates opportunities to transform existing processes across global supply chains.
São Paulo fintech brokerage Warren lands $55m led by Singapore’s GIC fund
The fintech intends to use the fresh capital to hire more employees.
The SEC confirms appointment of Gary Gensler as new chair
Gensler joins as the Democrats gain a majority among the commissioners of the US Securities and Exchange Commission.
Robinhood calls Massachusetts regulator “elitist” for trying to revoke its licence
“The complaint reflects the old way of thinking,” says Robinhood.
Valutico becomes first fintech start-up to explore ESG valuations
Sustainability considerations are becoming an increasingly integral part of the finserv industry.
High frequency trading and the data centre
It’s a win-win for this high volume, high risk business.
Fintech funding deals globally 15-21 March 2021
Featuring SumUp, eToro, Plaid, SecurityScorecard, and Coalition.
Banque Saudi Fransi upgrades treasury systems with Finastra
Saudi Arabian bank goes live on new version of Finastra platform.
Profile Software buys Euronext’s Centevo solution
Euronext offloads asset management platform after 2019 acquisition.
Deutsche Bank and TIS sign treasury deal
The pair will work on multi-bank services for treasury and finance.
HSBC goes live with Demica system for trade receivables
Selection to deployment took the two firms just over a year.
Aion Bank acquires robo-advisor ETFmatic
London-based robo-advisor ETFmatic has been Aion Bank’s partner for a year.
Landesbank Saar signs BearingPoint RegTech for SFTR compliance
Franco-German bank to deploy Abacus/Transactions platform.
Robinhood pushes on with IPO plans despite facing 49 GameStop lawsuits
Robinhood has held talks with underwriters about filing “within weeks”.
What did the GameStop saga expose about UK trading regulation?
FinTech Futures unpacks the FCA’s published response to trading restrictions on 29 January.
Fintech funding deals globally 15-21 February 2021
Featuring Public, Webull, Blockchain, GoCardless, and Personetics.
GameStop trader Deep F—ing Value, a licensed broker, sued for “fake persona”
The lawsuit accuses Gill of “deceitful and manipulative conduct”.
Robinhood backer Tiger Global leads $200m investment in rival Public.com
Public.com – as on 1 February – decided to stop making profits from payment for order flows.
Fintech funding deals globally 8-14 February 2021
Featuring Fraction, BharatPe, Agibank, Monzo, and Coinsquare.
Dublin’s ION Group snaps up New York trading tech firm Dash
ION Group has bought a handful of other firms to date.
New direction, same destination for ISO 20022
Despite the extra time, there is little scope for market participants to relax.
Nigerian wealthtech Cowrywise raises $3m pre-Series A
The co-founders aim to democratise Nigerians’ access to savings and investment products.
