Saxo Payments, the global transactions services provider, has been chosen by Lycamoney Financial Services Ltd, for its new International Money Remittance business, LycaRemit. As a member of the Saxo Payments Banking Marketplace, LycaRemit will benefit from low FX charges and real-time payments, giving it a competitive edge in the money transfer market and helping the start-up business to grow rapidly, with a particular focus on capturing the Asian market. LycaRemit is an online service that enables individuals to send money across the globe, at attractive FX rates, via their computer, smartphone or tablet. It is the newest addition to the Lyca Group, which also includes Lycamobile the largest mobile virtual network operator in Europe, offering low cost, high quality international calls to over 30 million customers across 19 countries.
In periods of extreme volatility within asset markets, it is hugely important to take a step back from the noise and return to the fundamental backdrop. Our view remains one where activity paints a supportive macro picture, particularly out of developed markets. Data in the US, UK and Europe remains encouraging; yes, it is backward looking in some instances, but the message is one of resilience as we approach the last quarter of 2015, even in the face of weaker emerging economy headwinds.
US data exhibits an economy which is broadening out in terms of expansion and one that no longer requires an emergency policy stance from the Federal Reserve. At the headline level, last week’s revision higher of second quarter GDP to 3.7% was corroborative of our view. US consumption remains healthy, while the positive implications of the oil dividend should continue to play out. We remain of the view that the Fed should start to gradually raise rates and the economy and markets can digest this. The missing link remains inflation, but in the Jackson Hole summit over the weekend the Fed reinforced its conviction that the current disinflationary impulse is energy led and transitory.
Euroclear Bank, the Brussels-based international central securities depository (ICSD), and China Construction Bank (CCB) have today signed a Memorandum of Understanding (MoU) to further develop the offshore Renminbi (RMB) capital market. CCB Chairman Wang Hongzhang, Euroclear group Chairman Marc Antoine Autheman, and Euroclear Chief Technology and Services Officer Lieve Mostrey attended the signing ceremony, joined by the Premier of the State Council of the People's Republic of China, Li Keqiang, and the Belgian Prime Minister, Charles Michel.
Why the Negative Balance Protection is Important
The recent CHF debacle has been quite instructive for a number of reasons. We all agree that low volatility is a bad thing in retail forex, but too much of it can be catastrophic. However, it’s precisely when the markets stray from that comfortable middle ground that we get a unique insight as to who’s who in this industry. The confusing acronyms and contradictory marketing copy fall away and we see brokers through their actions. This is exactly what happened in January when the SNB removed its 1.20 floor. Many market-making brokers not only appear to have been unaffected by the unprecedented EUR/CHF move, but also seem to have done quite nicely out of it by passing on huge amounts of negative slippage to their clients, proving once and for all that their interests are diametrically opposed to those of their clients.
The world of finance has witnessed in the last five years an remarkable change in the form of finance market, banking and the concept of finance itself, due to the problems faced by the global economy, created by international policies and brought about by the devastating wars that have destroyed the infrastructure of many countries after having crushed the populations of those countries.
By comparing the years between 2010 and 2015, one can hardly fail to notice that the role of medium-sized and large-sized banks has declined in terms of both significance and effect in the lending and funding markets at various levels, from personal lending, through corporate lending on to lending to sovereign entities such as states and governments.
In a 'the gloves are off' move, the UK's Competition and Market Authority has launched an investigation into the state of competition within the British banking industry, pledging to do whatever it takes to bring real competition.
Concerned that the UK's biggest banks are not properly meeting the needs of consumers and SMEs, the UK's Competition and Market Authority (CMA) has kicked off a full scale inquiry into aspects of the industry, which could ultimately force a partial break-up of the main banks.
Access Bank is a leading African bank, operating 366 branches and over 1000 ATMs in major centres across Nigeria and with subsidiaries in Sub-Saharan Africa and the UK. For over 26 years the bank has been providing leading corporates, SMEs and retail customers with the highest standards of speed, service and security in its banking offering while delivering exceptional returns for its 800,000 shareholders. As part of our five year strategic plan launched in 2012 we have been driven by an ambitious, yet we believe achievable goal to become the world’s most respected African bank. Following the successful acquisition of Intercontinental Bank in 2012, we have continuously sought to build our capacity to meet the needs of our existing customers and to build our customer base further as we develop our presence in the retail banking sector.
Elite Capital‘s flexible solutions to international financing
Numerous new companies emerge in the global markets and operate in the fields of banking and finance. However their existence and continuity depend on their ability to provide investment and financing solutions, given the present situation of the deteriorating global economy and cut-throat competition among the major nations. The ability to provide solutions that take the relevant factors into account is critical to the short and medium-term development and survival of such companies. Amid the economic turbulence we see around us, Elite Capital & Co. Limited emerged in 2012 in the world of economics and money in a new creative way with a mission to provide flexible and innovative financing solutions that challenge the abilities of giant global banks in the field of financing commercial, economic, infrastructure and sustained development projects. From its inception to the year 2015, Elite Capital & Co. maintained a remarkable and steady progress, and is an icon of contemporary business. The following is a brief overview of its innovative solutions.
Mexican bank sets up new unit catering to ultra-high net worth individuals
The world today is in constant, rapid transformation, and this brings major opportunities for those who are prepared and have the best support. In this context, having extraordinary financial advice plus the right tools to act on it is fundamental. Having knowledge, availability, connectivity and efficiency remains a crucial advantage. To provide this support, BBVA Bancomer has launched a private banking service for ultra-high net worth individuals. With this new service, the bank aims to go beyond conventional ways of doing business and provide an unprecedented experience among today’s financial institutions.
Chile is Latin America’s most competitive economy and is attracting ever increasing foreign investment
Chile possesses the best economy in Latin America and one of the best among emerging economies worldwide. Its sustained economic growth and social progress have been highlighted by several international organisations and, in 2010, it became the first South American country to join the Organisation for Economic Co-operation and Development (OECD).