Brazilian exchange B3's futures volumes were up 54.6% to 2.73 billion contracts during the first half of 2020, an indication that structural changes have helped drive growth of the country's derivatives market, FIA's Will Acworth told a webinar. "This is a function of a lot of different factors all converging at the same time," said Acworth.
RJ O'Brien has acquired interdealer broker Lombard Forte Securities, including 14 brokers that are mostly based in Dubai. RJO chief sales officer Dan Staniford says RJO has been eyeing strengthening its Dubai presence, and the LFS acquisition "serves as a great foundation for that expansion."
Some banks are taking a second look at their outsourced services with an eye on the risk of primary vendors failing due to the coronavirus disruption. The banks are concerned that there may be critical third-party suppliers that are not well suited for working from home.
The Monetary Authority of Singapore is establishing the Asia Institute of Digital Finance to train future fintech leaders. The AIDF will be jointly operated by the MAS, the National Research Foundation and the National University of Singapore, and will include an incubation unit to foster fintech development.
Derivatives industry participants broadly support prioritizing the digitization of ISDA's new interest rate derivatives definitions, a survey by the group finds.
Some banks are selling their Paycheck Protection Program loans to non-bank entities eager to garner the business. New York's The Loan Source, which was formed specifically to deal with PPP loans, purchased 20,000 loans from 14 lenders and expects to purchase more.
US lawmakers and officials were quick and effective in their efforts to preserve the economy when the coronavirus pandemic struck, but the current politicization of further relief is hurting Americans, the FT editorial board writes.
Investors put $1.78 billion into game startup Epic Games, growing its valuation to $17.3 billion. Investors buying equity interests in the game startup included BlackRock, Fidelity, T. Rowe Price Associates and the Ontario Teachers' Pension Plan.
Ginger, a mental health services startup that works mostly through employer-run medical insurance plans, raised $50 million in a Series D funding round that included investments from Cigna Ventures and Kaiser Permanente Ventures.