FinanceFeeds presents the top five industry news stories of the week, so that you can catch up in case you missed anything.
One more week of January 2017 is already behind us and in case you are worried you might have missed anything from the fintech and Forex industry developments, FinanceFeeds provides you with a brief summary of our top five articles from the past week.
FinanceFeeds’ CEO Andrew Saks-McLeod provided exclusive reports from the Shanghai annual FX industry conference, which took place on January 14-15, 2017, at the prestigious Renaissance Zhongshan Park Hotel in Shanghai. YOCA, in conjunction with FinanceFeeds, hosted the conference, focusing on institutional, retail and prime brokerage, as well as technology provision, for the Chinese FX sector.
On January 16, 2017, the Financial Services Compensation Scheme (FSCS) published its Plan and Budget for 2017/18, announcing that it expects to levy the financial services industry industry £378 million, compared to £401 million in 2016/17. After am increase in claims in the current year, for next year, the FSCS forecasts that the overall number of new claims will drop.
Mushegh Tovmasyan, CEO, Divisa Capital, spoke to FinanceFeeds after his company secured a $100 million investment. In the interview, Mr Tovmasyan explained: “The larger balance sheet will allow us to increase our access to liquidity via Prime Brokerage & Bilateral relationships and pass it downstream. It will also allow us to increase market penetration due to larger market appeal”.
On January 17, 2017, the The New York State Department of Financial Services (DFS) issued a virtual currency and a money transmitter license to Coinbase. DFS has so far given its nod of approval to five firms for virtual currency charters or licenses. In addition to Coinbase, DFS has awarded licenses to XRP II and Circle Internet Financial, as well as charters to Gemini Trust Company and itBit Trust Company.
In an interview with FinanceFeeds, which encompasses various topics related to the prime-of-prime space, Richard Elston, Head of Institutional, CMC Markets, provides a profound insight into what’s 2017 going to be like for the PB segment. Mr Elston talks about the need to define better the prime of prime space; the importance of pricing transparency for CMC Markets, as well as the potential effects of Donald Trump’ assuming his role as a US president.
For more in-depth insight, interesting analyses, interviews and research, visit FinanceFeeds.com.