LiteFinance Addresses Gold Quote Error

LiteFinance has reported a pricing error with gold quotes due to a liquidity provider's failure which occurred on 13 November 2023. The firm is actively working to rectify the issue and adjust affected transactions.

"If your positions have been affected by the failure, please contact the LiteFinance trading department. Our specialists are ready to provide you with the necessary assistance immediately," the company commented in the official announcement.

Spectrum's Record Trading Volume

Spectrum reported an unprecedented trading volume of securitized derivatives in October 2023, with a significant portion occurring outside of traditional trading hours. The trades were predominantly index-based, with the DAX 40, S&P 500, and NASDAQ 100 being the most traded underlying markets.

"In ​October ​2023, 179 million securitized derivatives were traded on Spectrum, the highest ever volume of instruments traded on the venue, with 34% of trades taking place outside of traditional hours," Spectrum Markets commented.

MAS Expands the Frontier of Asset Tokenization

The Monetary Authority of Singapore (MAS) is advancing its efforts in the asset tokenization realm through Project Guardian. Collaborating with a consortium of 17 financial institutions, the project has launched five additional pilots exploring the potential of asset tokenization.

These pilots include a variety of applications, from real-time analytics in digital asset trades to multi-currency treasury management solutions and the tokenization of money market funds. A notable MAS pilot involves the native issuance of Variable Capital Company funds on digital asset networks, aiming to streamline and expand the distribution channels for asset managers.

Important Blockchain Repo Transaction

UBS, SBI, and DBS have executed the world's first cross-border repo using a natively-issued digital bond on a public blockchain. This transaction, part of MAS' Project Guardian, demonstrates the potential for blockchain to revolutionize the cross-border distribution and settlement of capital market instruments.

The transaction showcases an automated and instantly settled repo, establishing a blueprint for future transactions. This achievement illustrates the potential of blockchain technology in enhancing liquidity management and setting a precedent for the utilization of regulated digital payment tokens in a compliant framework.

TradingView Enhances Public's Platform

Public's investing platform has integrated TradingView's Advanced Charts, enriching the trading experience with real-time quotes and a suite of analytical tools. This partnership has further solidified Public's dedication to accessibility and transparency in trading.

The collaboration with TradingView brings market research capabilities to Public's users, which include a range of investors from novices to seasoned traders. Public continues to distinguish itself as a leading neobroker, focused on providing a robust, transparent trading environment.

"On Public, traders can diversify their portfolio with stocks, Treasury bills, ETFs, cryptocurrencies , and alternatives such as music royalties," the company commented.

SFC's Legal Action against Former Chairman

The Securities and Futures Commission (SFC) has obtained court orders against the former Chairman of Kong Sun Holdings Limited and China Sandi Holdings Limited for fraudulent activities. Tse On Kin was found to have secretly profited from share placements and has been disqualified from corporate management roles for a decade.

He has also been ordered to pay restitution and cover the SFC's legal costs. This case underscores the SFC's commitment to upholding market integrity and enforcing accountability.

Ant International's Treasury Management via Web3

Ant International has introduced its next-generation treasury management solutions at the Singapore Fintech Festival, powered by Web3 technologies. This approach promises to enhance the efficiency and transparency of global fund movements, leveraging advancements like advanced encryption, zero-knowledge proof, and decentralized finance.

"Web3 technologies are enabling a new wave of digital transformation and digital collaboration, bringing innovations on the value movement," Kelvin Li, the Head of Global Fund Platform at Ant International, commented.

Canada's Transition to T+1 Settlement Cycle

Canada is poised to transition to a T+1 settlement cycle in May 2024, a day ahead of the U.S. due to market operation schedules. The change, aimed at increasing market efficiency, will involve an asymmetric processing schedule to accommodate the non-aligned transition with the U.S. This initiative reflects the Canadian Capital Markets Association's efforts to synchronize with global market practices.

FCA's Restrictions on KBFS Financial Limited

The Financial Conduct Authority (FCA) has placed restrictions on KBFS Financial Limited due to its failure to pay redress for unsuitable pension-transfer advice and non-cooperation with regulatory requests. This measure prevents the firm from engaging in regulated activities and accessing its assets, emphasizing the FCA's resolve to protect consumers and enforce compliance.

Adyen's Capital Launch for Australian SMBs

Adyen has launched its Capital product for Australian merchants, addressing the liquidity needs of small and medium-sized businesses (SMBs) with timely funding solutions. This initiative, backed by research indicating significant interest from SMBs in embedded financial services, enables businesses to offer pre-approved, easily accessible loans based on payment data. Adyen's innovative approach aims to provide added value to merchants and simplify funding for SMBs.

"No one understands SMBs better than our platform merchants, and we're proud to help them offer more value embedded in their ecosystem by using Adyen – from processing payments to facilitating funding for their users," Hayley Fisher, the Country Manager for Australia and New Zealand at Adyen, said.