Dollar index hits one-month low, bitcoin slides again

Reuters | December 27, 2017

The dollar fell to a one-month low versus a basket of currencies on Thursday on a less upbeat U.S. growth outlook after the passage of major tax cuts, while bitcoin declined for a second day after South Korea stiffened rules on cryptocurrency trading. Commodity-linked currencies including the Australian and New Zealand dollars posted two-month highs with copper prices MCU3 hitting a four-year high and oil LCOc1 holding at its strongest levels since mid-2015. “The dollar had gained on expectations of tax reform. Now that it’s here, we are seeing it sold off,” said Sireen Harajli, currency strategist at Mizuho in New York. Last week’s passage of the biggest overhaul of the U.S. tax code in 30 years gave the dollar some support, but markets are not confident that the tax reform will feed through quickly into increased consumer confidence. An index which tracks the greenback against six major currencies slipped nearly half a percent on Thursday to its weakest since Nov. 27 .DXY. It was last down 0.45 percent at 92.609.

Spotlight

The blockchain is a decentralized database stored on multiple computers as identical copies. Being decentralized in nature, a blockchain is highly secure as no single user can alter or remove an entry in the blockchain since it would require changing all the nodes, which is practically impossible. Due to its highly secure and encrypted nature, blockchain technology has been used as the foundation for world’s most popular cryptocurrency Bitcoin. But that’s not all there’s to blockchain technology.

Spotlight

The blockchain is a decentralized database stored on multiple computers as identical copies. Being decentralized in nature, a blockchain is highly secure as no single user can alter or remove an entry in the blockchain since it would require changing all the nodes, which is practically impossible. Due to its highly secure and encrypted nature, blockchain technology has been used as the foundation for world’s most popular cryptocurrency Bitcoin. But that’s not all there’s to blockchain technology.

Related News

INVESTMENT MANAGEMENT

Altera, Private Markets Investment Firm, Secures Growth Capital

Altera | July 27, 2022

Altera1, an Atlanta-based investment firm focused exclusively on the lower middle private markets, today announced the completion of a growth capital round. This investment provides Altera with balance sheet capital to further enhance its firmwide capabilities and growth initiatives. David Fershteyn, co-founder and CEO of Altera said, “We are pleased to close this strategic growth round and look forward to continuing to provide high net worth investors differentiated sources of return through our private market investment strategies.” David Fershteyn, co-founder and CEO of Altera said, “We are pleased to close this strategic growth round and look forward to continuing to provide high net worth investors differentiated sources of return through our private market investment strategies.” Since its founding in 2018, Altera has sponsored over 40 investment vehicles across private equity, real assets, and private credit. The company’s leadership expects to have $325M of capital committed to its private investment strategies by year’s end 2022 including $75M of capital from Altera’s owners. The firm’s trajectory seems on-trend to meet market demand. According to the 2022 Preqin Global Alternatives Report, the demand for private markets continues to grow and is expected to surpass $23T in overall assets by 2026. Mitch Reiner, Altera co-founder and Managing Partner of Capital Investment Advisors - an RIA with $4.2B in AUM (as of December 31, 2021) said, “High net worth investors have always had demand for private investments, but they have often lacked access to high-quality, institutional private funds. It is time investors who choose to allocate to alternative investments are able to do so with a cohesive strategy.” RIAs like Capital Investment Advisors can utilize Altera’s investment solutions to introduce private markets allocation to appropriate high net worth clients’ portfolios. Chris Dardaman, former CEO of multibillion-dollar RIA CI Brightworth Private Wealth and current Managing Director of Altera added, “Allocating investment assets to good, lower middle market private investments can produce greater diversification and stronger risk-adjusted returns than a public markets-only portfolio.” About Altera Altera is an investment firm focused on lower middle market private investments for high net worth individuals, family offices and RIAs. Altera’s investment solutions cover core private equity, real assets, and private credit. Altera’s investment team maintains relationships with hundreds of fund managers and independent sponsors seeking to deliver differentiated sources of return through a combination of multi-manager, single-manager, and direct deal investment offerings. For more information on Altera, visit www.alteraprivate.com.

Read More

FINANCIAL MANAGEMENT

CANACCORD GENUITY GROUP INC. ANNOUNCES ACQUISITION OF UK ADVISORY BUSINESS RESULTS INTERNATIONAL GROUP LLP

CANACCORD GENUITY GROUP INC. and RESULTS INTERNATIONAL GROUP LLP | August 04, 2022

Canaccord Genuity Group Inc. is pleased to announce that through its UK & Europe capital markets business, Canaccord Genuity Limited, it has entered into an asset purchase agreement to acquire the business of Results International Group LLP ("Results"). Results is an independent advisory firm headquartered in London, UK, focused in the technology and healthcare sectors which provides M&A and corporate finance services to entrepreneurs, corporates, private equity firms and investors. Results has executed more than 60 strategic advisory transactions in the past three years. The transaction is expected to close in the current fiscal quarter, subject to customary closing conditions. This transaction complements recent investments by the Company to expand its global Advisory business with the acquisitions of Petsky Prunier (2019) and Sawaya Partners (2021) in the United States and expands its European domain expertise in the Healthcare and Technology sectors. "Since our initial investment to expand our advisory practice in 2019, we have meaningfully increased our relevance as a leading independent midmarket advisory firm in North America and Europe, and this has contributed to our stronger profitability, Our acquisition of Results supports our strategy of increasing contributions from our advisory segment and provides robust European expertise in two of our core focus sectors, healthcare and technology." -Dan Daviau, President & CEO of Canaccord Genuity Group Inc. With deeply established strength in the Technology and Healthcare sectors, Results brings a strong complement to our European advisory business, We are delighted to welcome the Results team and we expect this combination will meaningfully strengthen our respective businesses to create a combined practice that is substantially greater than the sum of its parts,said Nick Russell, Chief Executive Officer of Canaccord Genuity Limited. To ensure a seamless transition for Results' clients and employees, Managing Partner Julie Langley will become Head of Technology and Healthcare Advisory for Canaccord Genuity UK & Europe. All existing employees of Results are expected to continue with Canaccord Genuity's UK & Europe capital markets business. Julie Langley, Managing Partner of Results, added: For more than three decades the Results team has been achieving outstanding results for our clients through a combination of deep sector expertise, a relentless focus on client service and an agile and collaborative approach. We are pleased to have found a flexible and entrepreneurial partner in Canaccord Genuity, where both the strategic and cultural fit are so strong. We look forward to providing enhanced geographic reach, domain expertise and service offering for our combined clients. Hines Associates is acting as financial adviser and Squire Patton Boggs is acting as legal adviser to Results in connection with the transaction. Shearman and Sterling are providing legal advice to Canaccord Genuity. ABOUT CANACCORD GENUITY GROUP INC. Through its principal subsidiaries, Canaccord Genuity Group Inc. (the "Company") is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and capital markets. Since its establishment in 1950, the Company has been driven by an unwavering commitment to building lasting client relationships. We achieve this by generating value for our individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services. The Company has wealth management offices located in Canada, the UK, Guernsey, Jersey, the Isle of Man and Australia. The Company's international capital markets division operates in North America, UK & Europe, Asia, Australia and the Middle East. Canaccord Genuity Group Inc. is publicly traded under the symbol CF on the TSX. ABOUT CANACCORD GENUITY GLOBAL CAPITAL MARKETS Canaccord Genuity's global capital markets division offers institutional and corporate clients idea-driven investment banking, merger and acquisition, research, sales and trading services from offices in North America, UK & Europe, Asia, Australia and the Middle East. Our diverse team of capital markets and advisory professionals has deep industry and transactional expertise in key growth sectors of the global economy. We are committed to providing valued services to our clients throughout the entire lifecycle of their business and operating as a gold standard independent investment bank – expansive in resources and reach, but targeted in industry expertise, market focus and individual client attention. We are driven by your success. For more information, visit www.cgf.com. ABOUT RESULTS INTERNATIONAL GROUP LLP Results is a trusted M&A advisory firm which delivers great outcomes for founders, business owners, investors and corporates in the technology and healthcare sectors. Since its establishment in 1988, Results has built a diverse team of M&A advisory specialists spanning 10 nationalities with expert financial capabilities and deep domain expertise in midmarket technology and healthcare. Based in London, UK the team has cultivated strong international relationships with corporates and investors across the healthcare and technology sectors and provides a full-service advisory offering including M&A, private equity and venture capital fundraising, divestments, and licensing.

Read More

FINTECH

Global Primex Launches Private, Virtual Payment Platform VLoad with Metropolitan Commercial Bank

Global Primex, Metropolitan Commercial Bank | July 18, 2022

Global Primex, a privacy-first payments company specializing in secure digital payment solutions for merchants and consumers, today announced the launch of its payment platform VLoad in partnership with New York-based Metropolitan Commercial Bank (NYSE: MCB). VLoad is an innovative online payment method that provides industry-leading privacy and security to consumers and empowers merchants in the VLoad Merchant Network with increased revenue resulting from unparalleled fraud prevention, dispute management, and acceptance rates. “Global Primex was founded on the premise of creating anti-fraud solutions for online merchants suffering from excessive chargebacks and low acceptance rates, and for providing consumers with a best-in-class private and secure online payment method." - said Marek Sala, CEO of Global Primex. “Global Primex was founded on the premise of creating anti-fraud solutions for online merchants suffering from excessive chargebacks and low acceptance rates, and for providing consumers with a best-in-class private and secure online payment method. With VLoad, merchants are protected under Global Primex’s PCI DSS Level 1 certified payments platform, benefitting from early fraud detection and dispute resolution, while customers’ identities and data are kept private from third parties,” said Marek Sala, CEO of Global Primex. “VLoad brings tremendous value in industries such as online gaming where we can bring consumers and merchants together in an environment where the risk of fraud on either side of a transaction is significantly diminished.” While VLoad is tailored to the general ecommerce market in the U.S. and is perfect for a wide range of online merchants, Global Primex is targeting such industries as regulated online gaming operators, subscription billing services, entertainment, and the travel industry in the U.S. due to its unique expertise in solving payment problems for traditionally high-risk merchants plagued by excessive chargebacks, low acceptance rates, and fraud. The VLoad Merchant Network connects consumers to merchants who have successfully passed Global Primex’s rigorous merchant due diligence process and (i) whose products and services consumers want, but have challenges accessing with traditional payment methods; (ii) who need a little (or a lot of) help managing their fraud and payment dispute risk; and (iii) who want immediate, low-cost access to an ecosystem of hundreds of thousands of consumers whose identities have been verified and whose collective fraud rate is a mere fraction of the market average. “Our partnership with Global Primex is a natural fit given our shared vision around digital transformation of the payments space,” said Nick Rosenberg, Executive Vice President, Head of Global Payments Group at Metropolitan Commercial Bank. “We look forward to introducing a product that will provide both sides of a purchase with a strong sense of security through VLoad transactions.” All businesses participating in the VLoad Merchant Network have instant access to their customers' full purchasing power in once place. VLoad can be purchased online with debit card, credit card, ACH/open banking and wire. For more information on Global Primex and VLoad, visit globalprimex.com or https://vloadcards.com. About Global Primex Global Primex is a privacy-first payments company specializing in innovative and secure digital payment solutions for merchants and consumers offered through its innovative digital payments platform, VLoad. Headquartered in Miami, FL with an additional office in Chicago, IL, Global Primex is the U.S.-licensed arm of a multinational, award-winning family of FinTech and RegTech companies that have been redefining payments – and finance in general – for more than 15 years. About Metropolitan Commercial Bank Metropolitan Commercial Bank®, The Entrepreneurial Bank, is headquartered in New York City and operates full-service banking centers in Manhattan; Boro Park, Brooklyn; and Great Neck, Long Island. Metropolitan Commercial Bank is also an established leader in digital payments and one of the fastest growing U.S. issuers of virtually every type of debit card. We are a leading issuer of debit cards and an acknowledged innovator in the General Purpose Reloadable (GPR) debit cards, virtual cards, mobile payments, e-wallets, peer to peer and cross-border payments. In addition, Metropolitan Commercial Bank is keeping pace with rapid industry evolution and the trend towards mobile payment apps and all that FinTech has to offer. Metropolitan Commercial Bank has also established an impressive track record of successful collaborations with new category innovators and serves as the e-wallet sponsor bank for a number of global payment programs.

Read More