Northern Trust is to establish a new electronic foreign exchange (eFX) pricing engine in Singapore, in partnership with the Monetary Authority of Singapore. This will be Northern Trust’s first eFX engine in Asia-Pacific.
Category: FinTech
Pure Digital to deploy State Street’s Currenex platform for digital asset trading
Puremarkets Ltd, a UK-based business trading as Pure Digital, has entered into an agreement with State Street to deploy Currenex, State Street’s FX trading technology, as the infrastructure for Pure Digital’s new wholesale digital currency trading platform. Additionally, Pure Digital and State Street intend to further explore opportunities in the digital currency trading space. Pure…
Hex Trust raises USD6m for expansion
Hex Trust, a Hong Kong-based digital assets custody platform provider, has raised USD6m in a Series A funding round. The investment will enable Hex Trust to scale operations and hire key talent in Hong Kong and Singapore to meet growing institutional interest in digital assets in Asia, particularly among banks, exchanges, and corporate clients. In…
Deutsche Boerse takes 100pct ownership of Clearstream Fund Centre
Deutsche Börse AG has agreed to acquire the remaining 49pct stake of Clearstream Fund Centre from UBS for CHF390m (USD429m). Deutsche Börse will become the sole shareholder in the Zurich-based fund distribution platform, having initially acquired a 51pct stake in September 2020. The deal follows Euroclear’s recent announcement of its agreement to acquire MFEX, the…
State Street appoints LAB Group for investor onboarding in Australia
State Street has appointed Australia’s LAB Group to introduce electronic investor onboarding capabilities for its fund manager clients in Australia. With LAB Group’s platform, investor registration will be accelerated and electronic identity verification for individuals, companies and trusts will be enabled. The LAB process uses numerous Australian government and other verified databases, supported by dynamic…
BNP Paribas strikes deal with Clarity AI
BNP Paribas Securities Services has formed a partnership with Clarity AI, a sustainability data science and technology company. Through its Manaos platform, BNP Paribas clients can access Clarity AI’s universe of sustainability data and insights. Manaos enables institutional investors to store their fund data on a single platform to obtain a comprehensive and transparent view…
Euroclear to acquire MFEX
Euroclear has agreed to acquire MFEX Group, the global digital fund distribution platform that is majority owned by Nordic Capital. Established in 1999, the MFEX Group is headquartered in Stockholm with over 300 employees internationally. MFEX offers a complete solution for fund companies and distributors and has EUR320bn AuA. Over 350 institutional clients use MFEX…
Reichmuth appoints AssetMetrix for digital reporting
Reichmuth & Co Investment Management AG, a subsidiary of the Swiss owner-managed private banking group Reichmuth & Co, has appointed AssetMetrix, the Germany-based specialist asset servicer, as a partner for the digitalisation of its infrastructure activities. Services include tools for performance, risk management, benchmarking as well as cash flow and performance forecasts. In addition, clients…
Citi launches sec lending solution for wealth managers
Citi has launched the first fully automated securities lending solution for wealth management firms, in partnership with fintech firm Sharegain. Through Citi’s solution, wealth managers can deliver a securities lending program to their clients, giving them the opportunity to earn additional revenue on their stocks, bonds and ETFs, without developing an internal program from scratch.…
AssetMetrix establishes account management function
AssetMetrix, the Germany-based specialist asset servicing provider in which BNP Paribas has a stake, has appointed Joerg von Taube as head of the newly created account management function within its business development team. He joined AssetMetrix in 2017.