Jun 7, 2023

0 Citi Launches Automated Settlement Solution in HK Citi Securities Services announced the launch of a fully automated solution in Hong Kong to improve its custodial capability in post-trade instruction and settlement processing. The proprietary solution directly connects to Hong Kong’s central clearing and settlement system (CCASS). It came to meet the demand from Citi’s clients for quicker settlement. “The latest solution is a continuation of our efforts to provide a complete suite of services that are as close to real-time as possible,” said Aditya Sharma, APAC Head of Custody at Citi Securities Services. “Our latest tool opens up a myriad of benefits for our end clients in post-trade activities in Hong Kong.” C. Hoare & Co. Taps Integral’s SaaS FX Tech C. Hoare & Co., the UK’s oldest privately owned bank, has selected Integral’s cloud-based SaaS FX technology, enabling its customers to access market liquidity and competitive FX rates across both their business and personal accounts. Keep Reading StoneX Expands Prime Brokerage Offering StoneX Financial Ltd. launched a multi-asset CASS compliant custody solution to enhance its institutional prime offerings . The new solution under the StoneX Institutional Prime brand is also coupled with financing capabilities, including repo financing and securities lending. “The build out of StoneX Institutional Prime is a natural complement to our existing US offering, enabling us to deliver a robust multi-asset set of solutions to support mid-tier hedge funds globally,” said James McAuslan, Stonex’s Global Head of Prime Services and Head of Securities for EMEA. Along with the product expansion, StoneX also strengthened its team behind the prime services with two new hires, Gary Clifford-Newman in Cross Asset Sales and James Barten as Head of EMEA Security Financing. OKX Enhances Trading Features ADVERTISEMENT Crypto exchange OKX has enhanced futures and perpetual trading with the new place orders by cost feature, allowing users to control costs every time they trade. The new order type is available in hedge mode and can be used with limit, market, and advanced limit orders. “By providing a new way to place orders, OKX aims to make futures and perpetual trading more accessible and user-friendly,” the crypto exchange stated. “The new Orders by Cost feature is especially useful for traders who pay close attention to margin input every time they place an order and then decide on leverage or risk.” Get ready to experience the latest copy trading advancements 😉 With the new feature upgrades, #OKX Lead Traders can now: ✅ Manually adjust profit sharing ratio ✅ Manage copy trading community (when requirements are not met) Swift Explores Blockchain Interoperability Swift is collaborating with over a dozen institutions to explore blockchain interoperability challenges. It has partnered with Chainlink to integrate with multiple public blockchains. The partner institutions are ANZ Bank, BNP Paribas, BNY Mellon, Citi, Lloyds Bank, Clearstream, Euroclear, DTCC, and SIX Digital Exchange. “There’s unlikely to be a single prevailing blockchain network,” said Tom Zschach, Chief Innovation Officer at Swift. “In such a highly fragmented ecosystem, it would simply not be feasible for financial institutions to connect to each and every platform individually. That’s why the community is working with Swift to develop an interoperability model that would enable access to different platforms globally.” El Salvador’s Bitcoin Miner Launches with $250M Investment Volcano Energy has received $250 million of the pledged $1 billion and launched its Bitcoin mining operation in El Salvador . The mining facility has a capacity of 241 megawatts (MW), divided between 169MW of photovoltaic power and 72MW of wind power. The computing energy of the mining facility is estimated to exceed 1.3 exahashes per second, which will put it among the top 20 Bitcoin mining facilities globally. . @Volcano_Energy 🌋🔌 receives the first $250M of a $1 billion commitment that kickstarts 241 MW’s of #Bitcoin mining in El Salvador. — Max Keiser, sr. bitcoin advisor pres. Bukele 🌋🧢 (@maxkeiser) June 7, 2023 Citi Launches Automated Settlement Solution in HK Citi Securities Services announced the launch of a fully automated solution in Hong Kong to improve its custodial capability in post-trade instruction and settlement processing. The proprietary solution directly connects to Hong Kong’s central clearing and settlement system (CCASS). It came to meet the demand from Citi’s clients for quicker settlement. “The latest solution is a continuation of our efforts to provide a complete suite of services that are as close to real-time as possible,” said Aditya Sharma, APAC Head of Custody at Citi Securities Services. “Our latest tool opens up a myriad of benefits for our end clients in post-trade activities in Hong Kong.” C. Hoare & Co. Taps Integral’s SaaS FX Tech C. Hoare & Co., the UK’s oldest privately owned bank, has selected Integral’s cloud-based SaaS FX technology, enabling its customers to access market liquidity and competitive FX rates across both their business and personal accounts. Keep Reading StoneX Expands Prime Brokerage Offering StoneX Financial Ltd. launched a multi-asset CASS compliant custody solution to enhance its institutional prime offerings . The new solution under the StoneX Institutional Prime brand is also coupled with financing capabilities, including repo financing and securities lending. “The build out of StoneX Institutional Prime is a natural complement to our existing US offering, enabling us to deliver a robust multi-asset set of solutions to support mid-tier hedge funds globally,” said James McAuslan, Stonex’s Global Head of Prime Services and Head of Securities for EMEA. Along with the product expansion, StoneX also strengthened its team behind the prime services with two new hires, Gary Clifford-Newman in Cross Asset Sales and James Barten as Head of EMEA Security Financing. ADVERTISEMENT OKX Enhances Trading Features Crypto exchange OKX has enhanced futures and perpetual trading with the new place orders by cost feature, allowing users to control costs every time they trade. The new order type is available in hedge mode and can be used with limit, market, and advanced limit orders. “By providing a new way to place orders, OKX aims to make futures and perpetual trading more accessible and user-friendly,” the crypto exchange stated. “The new Orders by Cost feature is especially useful for traders who pay close attention to margin input every time they place an order and then decide on leverage or risk.” Get ready to experience the latest copy trading advancements 😉 With the new feature upgrades, #OKX Lead Traders can now: ✅ Manually adjust profit sharing ratio ✅ Manage copy trading community (when requirements are not met) Swift Explores Blockchain Interoperability Swift is collaborating with over a dozen institutions to explore blockchain interoperability challenges. It has partnered with Chainlink to integrate with multiple public blockchains. The partner institutions are ANZ Bank, BNP Paribas, BNY Mellon, Citi, Lloyds Bank, Clearstream, Euroclear, DTCC, and SIX Digital Exchange. “There’s unlikely to be a single prevailing blockchain network,” said Tom Zschach, Chief Innovation Officer at Swift. “In such a highly fragmented ecosystem, it would simply not be feasible for financial institutions to connect to each and every platform individually. That’s why the community is working with Swift to develop an interoperability model that would enable access to different platforms globally.” El Salvador’s Bitcoin Miner Launches with $250M Investment Volcano Energy has received $250 million of the pledged $1 billion and launched its Bitcoin mining operation in El Salvador . The mining facility has a capacity of 241 megawatts (MW), divided between 169MW of photovoltaic power and 72MW of wind power. The computing energy of the mining facility is estimated to exceed 1.3 exahashes per second, which will put it among the top 20 Bitcoin mining facilities globally. . @Volcano_Energy 🌋🔌 receives the first $250M of a $1 billion commitment that kickstarts 241 MW’s of #Bitcoin mining in El Salvador.