Bevan Wallace’s Post

Finance companies were a dirty word in the late 2000s. Many had mispriced the risk for investors who’d gone into debentures seeking a couple of extra percentage points above bank term deposits and a handful of them were found to be outright frauds. Geneva Finance Limited was one of the few that managed to navigate the turmoil, with a debt-for-equity swap and repayment programme accompanying what was likely a painful restructuring to pare down the business to something more manageable. Part of that recapitalisation plan saw the shares listed on the NZX Limited, where the minnow has struggled to capture the attention of institutional investors needed to reap the benefits of being public. The vote to quit the NZX for the USX was a close-run thing and didn’t appear to allay the scepticism of the naysayers, and it’ll be interesting to see whether the savings from delisting and shedding the obligations of continuous disclosure help the lender to fire. Here’s my latest on BusinessDesk NZ. https://lnkd.in/gk-WebQT 

As of 31st July 2024, CFDs will no longer be available to new retail clients in Spain. This decision follows the CNMV's intervention measures. Existing clients and professional clients remain unaffected. #Financialservices, #Spain, #CFDregulation, #CNMV, #Forex, #Trading

ISSA recently collaborated with The ValueExchange, with the support of The Depository Trust & Clearing Corporation (DTCC), TMX Group and industry associations around the globe, on a survey of the global impacts of the May 2024 move to T+1 settlement in the Americas, including in the U.S. and Canada.   The survey key findings focus on three main questions:   How did the firms transform to accommodate a shortened settlement cycle? Was the transition successful for all the types of firms? Across all the regions? What is the next step for other regions?   You can download the key findings report from this "T+1 pulse survey" via this link: https://lnkd.in/d-n9Ujsn   The report provides statistical insights from market practitioners and will give you a uniquely practical perspective of where and how firms have gone through the long-awaited transition to T+1.

In response to T+1 woes... hear what our expert Kaisha Lourens Schnoll has to say. "As observed over the past few months, some firms still lack the necessary technology for effective automation. This, combined with resource shortages and limited global coverage, creates a perfect storm for potential problems. The reality is that technology just isn't where it should be, and firms nationwide are misaligned. Before the industry can consider real-time settlement, firms must implement the appropriate technology and enhance automation. Pain points in post-trade operations will persist until best practices are adopted industry-wide. Now more than ever, it's essential for institutions to secure a Tradesuite ID, implement CTM and Tradesuite, staff appropriately, and automate trade instruction processing." https://lnkd.in/ec5w5U3G

🔐 𝗨𝗻𝗹𝗼𝗰𝗸𝗶𝗻𝗴 𝘁𝗵𝗲 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗼𝗳 𝗮 𝗦𝗲𝗰𝘂𝗿𝗲 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗘𝗰𝗼𝘀𝘆𝘀𝘁𝗲𝗺: 𝗛𝗼𝘄 𝘁𝗵𝗲 𝗟𝗘𝗜 𝗰𝗮𝗻 𝗕𝗼𝗼𝘀𝘁 𝗜𝗻𝘁𝗲𝗿𝗼𝗽𝗲𝗿𝗮𝗯𝗶𝗹𝗶𝘁𝘆 𝗮𝗻𝗱 𝗧𝗿𝘂𝘀𝘁 𝗶𝗻 𝗘-𝗜𝗻𝘃𝗼𝗶𝗰𝗶𝗻𝗴🔐 Nuria Vegas from the Global Legal Entity Identifier Foundation (GLEIF) will explain how the payments industry is deriving value from the LEI in cross-border payments by exploring the world of E-Invoice reconciliation and how the LEI, and its digital twin the vLEI, enable verification of the sender’s identity beyond national borders. The logic behind including the LEI in both E-Invoices and payment messages, is simple: when it is added as a data attribute, any originator or beneficiary legal entity can be precisely, instantly, and automatically identified across borders facilitating both trust and automation. 📅 Join us next week at the E-Invoicing Exchange Summit in 📍Prague from September 23 to 25, 2024! #EInvoicing #LEI #Interoperability #CrossBorderPayments #EXCS24

A Great Article of Learning “Fingers cross” is not a strategy for T+1 This article provides great insights from #Bill Meenaghan, CEO and Founder of #SSImple, on the importance of automating #posttrade processes in #capitalmarkets operations. It's also why #Taskize is working diligently with partners like #Meritsoft,#Symphony, #Xceptor and #Finbourne to drive this automation forward. If you would like to know more please contact us at www.taskize.com

With a compliance date of May 28 this year the #SEC finalized a rule to shorten the settlement cycle for #CapitalMarkets from T+2 (i.e., two days after a trade is executed) to T+1. This Datos Insights report by Vinod Jain highlights the #regulatory requirements emerging from the final rule on shortening the settlement cycle as adopted by the SEC in the U.S.

Hong Kong Exchanges and Clearing Limited (HKEX) to enhance post-trade systems to ready for T+1 New features are due to begin rolling out in mid-2025, with key upgrades set to include real-time data processing and real-time settlement instruction matching.  

ARF24 Soundbites Panel session: A new digital trade landscape – what does this mean for fintechs and alternative finance providers? Moderator: Professor Sarah Green, Head of Digital Assets and Trade Finance, D2LT Panellists: Paul Landless, Partner; Co-Head, Technology Group, Clifford Chance Commission, ICC | Chris Southworth, Secretary General, ICC United Kingdom | Anthony Wadsworth-Hill, Co-Founder, Deputy Chief Executive and Chief Operating Officer, Mercore Group “Legal infrastructure is absolutely foundational,” Chris Southworth. “We need cross-border legal connectivity between MLETR-literate jurisdictions,” Paul Landless. “The regulators might need to push more buttons soon if a bank is taking its time and onboarding to the old platforms while everyone else is moving ahead,” Paul Landless. “We should use mobile technology more,” Chris Southworth. “The fintechs and alternative providers are becoming the point of origination,” Chris Southworth. “The industry bodies are giving the banks an opportunity to align,” Anthony Wadsworth-Hill. “There is such a big trade finance gap, there is room for so many new players to come in,” Anthony Wadsworth-Hill.

The U.S. securities market will move to “T+1” settlement on Tuesday, May 28, 2024. In advance of go-live, the RMA Securities Lending Council and Operations and Technology Committee are making available this update to its “Best Practices for Recalls and Buy-Ins” document. The document describes established market practices and anticipated best practices for the management of securities recalls and buy-ins under T+1 settlement. The intent is to support a well-functioning market and to mitigate the potential for an increased frequency of failures due to the truncated settlement timeframe. RMA Members can download the full document here: https://lnkd.in/eRxQqRSK #SecuritiesLending #RiskManagement #BestPractices