Oil mixed as virus fears offset talk of OPEC cut extension

Reuters | January 29, 2020

Oil was mixed on Wednesday as worries about the coronavirus outbreak and swelling U.S. crude inventories weighed on prices, counter-balanced by talk that OPEC could extend oil output cuts. Brent crude LCOc1 was up 38 cents to $59.89 at barrel at 1:17 p.m. (18:17 GMT). U.S. crude dropped 10 cents to $53.38. Financial markets hit by the spread of the virus out of China are trying to assess economic fallout as the death toll continues to rise, and airlines cut flights to China. “Following the outbreak of coronavirus, commodities markets suffered from a technical selloff,” said Michel Salden, senior portfolio manager of Vontobel Asset Management. But oil prices would likely rebound soon after a 14% drop so far, far more than the fall in stock markets. British Airways suspended direct flights to and from mainland China after Britain warned against travel to the country. Jet fuel demand has slumped in Asia as airlines have canceled connections.

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New graduate's guide to personal finance #Infographic ... very handy tool for those wanting to start planning financially 1y.

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Illuminate Financial And Barclays Expand Strategic Partnership To Back FinTech Startups

Barclays | October 27, 2022

Illuminate Financial, the London-based venture capital firm investing in financial services technology companies, today announced an expansion of its longstanding partnership with Barclays, under which the bank will become a limited partner in Illuminate Financial's latest venture capital strategy. Barclays joins global financial institutions including Jefferies, J.P. Morgan, Deutsche Börse Group, Citi, and S&P Global as an investor in Illuminate Financial which backs early-stage FinTech and enterprise software companies driving innovation in the financial services industry. Barclays was an investor in Illuminate Financial's previous $100 million FinTech fund which was a 2019 vintage. "We're delighted to continue our longstanding partnership with Illuminate Financial. This investment will enable Barclays to play an even more meaningful role in the financial market's innovation ecosystem." -Andy Challis, Co-Head of Principal Investments at Barclays Illuminate Financial is led by Mark Beeston, Founder and Managing Partner, alongside partners Alexander Ross and Rezso Szabo. The venture firm was founded in 2014 and to date has invested in more than 30 late-Seed to Series A companies addressing core challenges across financial services including digital assets infrastructure, climate and ESG, data and private markets, as well as broader enterprise solutions that target the sector. Mark Beeston, Founder and Managing Partner at Illuminate Financial, commented, It has been our privilege to work with Barclays for several years and welcome them back as an investor for the second time in our venture capital strategy. Illuminate Financial's investors represent a unique combination of global financial institutions, extending the firm's deep domain expertise and go-to-market value-add for our portfolio. Disclosure Nothing in this press release should be viewed as a statement of the named institutions' experience with, or endorsement of, Illuminate Financial and it is not known whether the listed institutions approve of Illuminate Financial, or the advisory services provided. Past performance in not indicative of future results. The contents of this press release should not be construed as legal, tax, investment or other advice, or a recommendation to purchase or sell any particular security. About Illuminate Financial Management Illuminate Financial Management (Illuminate Financial) is a thesis-driven venture capital firm focused on FinTech and enterprise software companies defining the future of financial services. With offices in London, New York, and Singapore, Illuminate Financial's deep networks and trusted partnerships with key industry participants provide real insight into what the industry needs and helps their portfolio companies achieve their full potential. About Barclays Barclays is a British universal bank. We are diversified by business, by different types of customers and clients, and by geography. Our businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Group.

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FINANCIAL MANAGEMENT, FINTECH

State Street Launches Venturi to Support Peer-to-Peer Financing

State Street | November 21, 2022

State Street Corporation (NYSE: STT) today announced the launch of the firm’s new peer-to-peer financing platform, Venturi, specifically designed to connect buy-side firms with new sources of liquidity in the global repo space. Venturi, built through a partnership with FinOptSys, a cutting edge FinTech focused on the securities financing market, supports trade negotiations and enhances trade settlement and collateral management, allowing traders to better manage and diversify their counterparty exposure. “As a result of elevated market volatility and the changing liquidity and rate environment, buy-side firms are increasingly seeking new and diversified sources of financing, We are excited to further expand our product suite with the launch of Venturi to help foster the growth of and scale the peer-to-peer marketplace. Akin to our 2005 launch of FICC’s Sponsored Repo Service, which has also provided our clients with critically needed liquidity solutions, we believe Venturi will empower our clients to discover new liquidity pools and make better, data-driven investment decisions. The launch of this platform – designed in large part through extensive development and feedback from our clients – is certainly a very noteworthy milestone for our business and the evolution of our peer-to-peer initiatives.” -Gino Timperio, global head of Financing Solutions at State Street Venturi was built to provide clients: Increased Efficiency: Users negotiate economic terms of peer repo transactions on Venturi. A program master repo agreement streamlines the documentation process and supports ready scalability. Users may engage with any or all counterparties active on the platform. Improved Flexibility: Venturi supports a flexible suite of eligible collateral and margin requirements. Seamless Confirmation of State Street’s Guaranty to Repo Buyers: Venturi allows buy-side participants to seamlessly submit and confirm the repo transaction terms satisfy the criteria necessary for State Street to guarantee the repurchase price payment obligations of the repo seller to the repo buyer following a repo seller default. State Street’s short-term credit rating: A+/AA1. Transparency of trade and margin call settlement: With links to State Street’s Collateral+ Triparty Solution for Peer-to-Peer Repo, Venturi displays confirmed trade matches, collateral valuation and margin calls, and collateral movements between counterparties. In helping to centralize liquidity pools and enhance transparency, Venturi seeks to open up for the buy-side new trading opportunities, lower their transaction costs and improve their returns. About State Street Corporation State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $35.7 trillion in assets under custody and/or administration and $3.3 trillion* in assets under management as of September 30, 2022, State Street operates globally in more than 100 geographic markets and employs approximately 41,000 worldwide.

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FINANCIAL MANAGEMENT

Sardine launches 'Insights' to manage risk between financial institutions, fintechs, and crypto companies

Sardine | October 19, 2022

Sardine, the leading provider of fraud, compliance, and instant payment solutions, announced today a new product offering a real-time, comprehensive view of an entity's risk based on its history transacting with cryptocurrencies, digital assets, and conventional bank products and services. Called Insights, the service aims to bridge data gaps between financial institutions, fintechs, and crypto companies to strengthen risk management and increase access to all segments of financial services. The number of US adults who own crypto assets will surge to 34 million this year. As more consumers, businesses, and other entities use blockchain-based services, there is a growing demand to move money between traditional finance (TradFi) and decentralized finance (DeFI). However, these two systems remain siloed with limited exchange of risk-related information, enabling fraudsters to exploit significant visibility gaps. So much so, there were $680 million in crypto fraud losses in 2021 – a 520% increase from 2020. This has led to a vicious cycle where financial institutions, who must protect their customers from potential fraud, block or limit connectivity to crypto and fintech companies, hampering their growth and preventing legitimate entities from transacting or moving money into services they want. "The future success of financial services requires better alignment and collaboration between players in TradFi and Defi – Sardine aims to fill the visibility void, Providing visibility into an entity's financial actions and history across both systems would allow all involved in a transaction to better protect shared customers. With Insights, we're making proprietary data we've generated through our risk models available to any company with appropriate permissions so they can better assess counterparty risk when moving money." -Ravi Loganathan, Head of Financial Institution Services at Sardine With Insights, users can call an API and receive a real-time response detailing risk scores, reputation levels, and device and behavioral intelligence for any applicable entity. Sardine has built this product within frameworks of applicable privacy laws and regulations. As payments become increasingly real-time, comprehensive risk assessments on any entity conducting a transaction in TradFi or DeFi is critical in keeping bad actors from causing harm especially when settlement is instantaneous, and there is no option for chargebacks, We want to create an inclusive utility for the industry that improves collaboration between both systems and accelerates the development of tools to address common challenges. Insights is the first step in overcoming this growing industry challenge,said Soups Ranjan, CEO of Sardine. This new product announcement comes on the heels of rapid customer growth and funding news, including raising $51.5M in Series B funding in September led by Andreessen Horowitz with strategic investments by Visa, Cross River Bank, Experian, and other financial institutions. Sardine has also expanded into crypto payments with its Crypto On Ramp product with Metamask and Brave, as well as the launch of its NFT Checkout product with Autograph. About Sardine Sardine is on a mission to make payments instant and risk-free so consumers and businesses can move money confidently. Fraud is a burden on society, as slow payments and high-fraud rates reduce business growth and create systemic risk for the economy. Sardine enables all companies, whether big or small, to improve risk management by having the world's best API for fraud detection and compliance within financial services. The company also offers instant settlement for crypto and NFT transactions.

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