Citigroup commits to “digital explosion”
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Jonathan Lofthouse, Head of Markets and Enterprise Risk Technology, said Citigroup plans to hire more than 4,000 tech workers to help digitize services for institutional clients.
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Fintech News Stories
Fully digital capital markets with Clear Street
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In an interview with The Financial Revolutionist, and a week after Clear Street’s $165M Series B announcement—making the company a unicorn—Bailey details the market gap Clear Street tackles, explains why capital markets have been slow to modernize, and outlines how new technology can level the playing field between large and small players.
Read MoreHow might Roe v. Wade’s overturning affect finance?
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A draft majority opinion leaked by Politico suggests the Supreme Court will overturn reproductive rights as they are enshrined in Roe v. Wade. “Roe was egregiously wrong from the start,” Supreme Court Justice Alito writes.
Read MoreBank shareholders vote down climate-change proposals
/Proposals at annual shareholder meetings for Citigroup, Bank of America, and Wells Fargo would have pushed management to curb lending for projects in oil and gas. The proposals received between 11% and 12.8% votes in favor.
Read MoreWhat do rising mortgage rates mean for proptechs?
/For the first time in 11 years, mortgage rates reached 5% this week. The rate has increased by 1.24 percentage points in the past five week, and 1.89 as compared to the end of 2021.
Read MoreCitigroup pauses SPACs, awaits regulation
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The financial giant said it would temporarily halt public offerings through special purpose acquisition companies (SPACs). It’s concerned about increased oversight into SPACs from the SEC, which has yet to solidify specific guidelines.
Read MoreUnder martial law, Ukraine limits withdrawals and suspends digital wallets
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The National Bank of Ukraine imposed several temporary restrictions to avoid economic panic and collapse. The PFTS Stock Exchange also suspended trading on Thursday.
Read MoreIndian gov-owned LIC eyes IPO
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India’s state-run Life Insurance Corporation (LIC) announced yesterday that it would sell 5% of its shares to raise $8B. If approved, it would be the largest IPO in the country’s history.
Read MoreAbu Dhabi Securities Exchange and Tel Aviv Stock Exchange sign MOU
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The Abu Dhabi Securities Exchange (ADX) and Tel Aviv Stock Exchange have signed a Memorandum of Understanding, creating a framework for financial industry and technology collaborations.
Read MoreWSJ: Nasdaq Overtakes NYSE in Coronavirus-Era IPOs
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IPO activity plummeted in March following extreme volatility which, led companies to postpone or scuttle plans to go public.
Read MoreCarta to launch private stock market in 2021
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Carta, a $3.1B Silicon Valley startup that helps private companies manage equity, will roll out a private share-trading market called CartaX in January, the company said this week.
Read MoreUK regulator gives nod to digital securities exchange Archax
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The U.K.’s Financial Conduct Authority (FCA) has granted a license to upcoming digital securities exchange and custodian Archax.
Read MoreR3’s Rutter to Launch New Trading Platform LedgerEdge
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Financial services heavyweight David Rutter, founder of enterprise blockchain firm R3 and U.S. treasuries trading marketplace LiquidityEdge, has assembled a team to build a new trading platform called LedgerEdge.
Read MoreIPC Soft Turrets Powering Remote Capital Markets Trading
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IPC provides technologies and services that are enabling traders to work from a PC in a backup center or from home during the COVID-19 crisis. CEO Bob Santella shares how the rapid transition has transpired.
Read MoreWill Coronavirus Finally Affect the Market?
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Apple made waves this week when it warned investors that it would not meet revenue goals in large part due to the fallout from the Coronavirus.
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