Connect with us

Trading

Africa – the new frontier for international trade

Published

on

Africa – the new frontier for international trade

Join Business TV presenter Michael Wilson live from The London Stock Exchange TV studios for the first in a ‘Trade with Africa’ series of live interactive streamed panel discussions

These are uncertain times for businesses, both in Africa and outside of Africa, looking to establish or grow their international trade.

With global trade treaties being torn up, a growing threat of tariff wars with the US and the uncertainty of Brexit, business leaders are looking to developing markets to expend their businesses.

One region which is often overlooked for business potential is Africa but for international businesses, the continent’s growth rates, urbanising population and growing consumer market represent myriad opportunities – given the right support.

Home to nine of the fastest-growing economies on earth, Africa’s mineral and agricultural resources have fuelled global growth and as its economies grow, so too does demand for goods and services, transforming the continent into a new frontier for European and Middle Eastern exporters.

With a market of 1.3 billion people and a rapidly expanding middle class, McKinsey research predicts consumers in Africa will buy more goods and services than Russia by 2020 – and only slightly less than India.

At the same time many international banks have withdrawn from Africa meaning corporates need solid financial support in order to enter this promising market.

But what are the opportunities and challenges of doing business with Africa?

How does the current global business uncertainty make trading with Africa more appealing?

And how vital is it to find banking partners who can combine access to export finance with access to the local knowledge needed to enter new markets?

Join our panel of experts for a live interactive streamed panel debate discussing the benefits and challenges of trading into and out of Africa. Hosted by respected international Business presenter Michael Wilson, the panel will be taking your questions on Africa’s growth potential, identifying opportunities for businesses as well as offering advice on overcoming the unique challenges that business in the region presents.

EXPERT PANEL GUESTS

Patrick Gutmann, Managing Director, Corporate & Institutional Banking, BACB

Patrick has extensive international banking experience, having lived and worked in Europe, the US, Asia, Africa and the Middle East for a number of different global and regional financial services companies. He has significant experience in African markets and has particular expertise in managing transaction banking related businesses.

Peter Millett, former British ambassador to Libya

Peter is a retired British diplomat who served as British Ambassador to Libya from 2015 to 2018.  During that time he played a role in supporting the UN’s efforts to negotiate and then implement the Libya Political Agreement.  He met and built relationships with all the key political, security and economic players in Libya and in the international community.  He also managed the return of the British Embassy from Tunis to Tripoli.  Before Libya, he was British Ambassador to Jordan from 2011 to 2015.

James Cantamantu-Koomson, Managing Director of Client Coverage, BACB

James is a truly pan-African banker. He is responsible for providing overall direction to BACB’s business origination and client relationship management function. Before joining BACB, James was based in Ghana as Group Head for Regional Corporates for Ecobank, having worked and lived in a number of African markets, as well as in London.

Link: https://broadcastcentre.com/show/trade-with-africa

Trading

Trial by fire: Why 2020 experience will help the FX industry in 2021

Published

on

Trial by fire: Why 2020 experience will help the FX industry in 2021 1

By Vikas Srivastava, Chief Revenue Officer at Integral

I think I can say with confidence that 2020 has been the strangest year in my career to date. The FX markets have faced their fair share of geopolitical disruptions over the decades, yet nothing comes close to the impact of COVID-19.  While we are not out of the woods yet, there are reasons to be optimistic about 2021.

As with many other industries, the last ten months has created the necessary conditions for innovation in FX by accelerating existing trends. Due to enforced lockdowns and distributed workforces, we now have many buy and sell-side institutions undertaking a greater proportion of electronic and algorithmic trading, automated workflows, and off-premise solutions. These trends are gaining pace, ensuring the FX industry has not simply coped but adopted and overcome during these difficult conditions.

It’s a good thing the market is in a position of quiet confidence as 2021 will not be a walk in the park. Along with contending with a low-rate environment and geopolitical uncertainty, new regulations will be introduced for the first time or as part of previous phases that were postponed due to the pandemic. Both SA-CCR and phase 5 of the uncleared margin rules (UMR) introduce greater cost implications for certain trades and introduce new headaches for OTC markets in particular.

With unavoidable events appearing on the horizon, institutions need to assess their technology to ensure they can continue supporting their clients irrespective of where we are working and the market conditions surrounding us. Cloud technology that is fast-to-implement and offers highly customizable features will allow institutions to keep up with accelerating trends and offer bespoke solutions to clients, all at significantly lower cost and without the need to compromise on quality.

Having learnt the lessons of the last year, the FX industry is in a strong position to push on again in 2021. To do so successfully, firms will need to maintain their ambition in innovating and introducing cost and operationally efficient technology. Those that do can fly high up in the clouds – no pun intended.

Continue Reading

Trading

Capital Markets: The Last Frontier for Digital Transformation in Financial Services

Published

on

Capital Markets: The Last Frontier for Digital Transformation in Financial Services 2

By Dr. Avtar Singh Sehra, CEO, Nivaura

The last decade has seen financial services undergo vast digital transformation. New technologies and a greater ability to digitise and automate processes have brought greater efficiency and effectiveness to the sector, as well as enabling the creation of new, value-added consumer and B2B products.

Capital markets, however, remain largely unchanged. The industry is constrained by legacy processes that often involve substantial manual data input and document/spreadsheet management, which is inefficient in comparison to digital and automated operations. These inefficiencies have been squeezing capital market participants’ margins for far too long.

The current state of affairs

As it stands, a typical primary capital markets execution is a linear and sequential process involving multiple stakeholders, who repeatedly convey information back and forth manually to draft and execute legal documents, and then manage data input into multiple systems. This data is then sent across multiple institutions across the transaction lifecycle from pre-trade to post-trade, where it is again extracted and transformed to perform further lifecycle management activities. The processes that occur after drafting relevant documentation, such as clearing and record-keeping, are also manual and time consuming, with parties having to review documents individually.

There are some exceptions to this. For example, within commercial paper and certificates of deposit, there is some level of automation in how deals are executed, and data is transmitted from a dealer into post trade processes. In addition, high volume, structured, self-led transactions may be standardised to some degree. However, even with these isolated islands of partial automation, the general debt capital markets (DCM) issuance process remains highly manual and is in desperate need of digitisation and automation to increase its effectiveness and efficiency.

Not only do these repeated manual processes require significant human resources, but they are also prone to error. Humans, for all our gifts compared to machines, will never be able to achieve consistent 100% accuracy when it comes to complex data and document management processes. However, before we can even begin to discuss automating manual activities, they must first be digitised. This is crucial because it enables the capture of structured data throughout the transaction lifecycle. Only structured data can be easily leveraged for advanced automation, from simple if-then logic, to advanced machine learning technologies for complex cognitive decision making e.g., extracting data from complex documents.

Considering the evolution that the rest of the financial sector has undergone over the last twenty years when it comes to digitisation and automation, it’s hard to understand why capital markets have been left behind until now. But change is finally coming.

A turning point

2020 saw the winds of change begin to blow across the capital markets industry. In a first for the sector, a group representing all participants of primary capital market transactions is collaborating on a data standard to be used in legal documents as well as down-stream systems and transactions data flow: General-purpose Legal Mark-up Language (GLML). This collaboration is taking place under the umbrella of the GLML Consortium, whose founding members include magic circle law firms and capital markets infrastructure technology vendors.

GLML is a ‘mark-up language’: a type of human and machine-readable syntax developed to be easy for a lawyer (or, indeed, anyone else) to implement in documentation with little training, and without requiring coding experience. It enables users to easily turn their existing contractual templates, including precedents and pro formas, into machine readable files, which can then be used to create transactions with structured data from the outset that can map to a standardized taxonomy for transmission across the pre- or post-trade process. Any word processor or editor (including Microsoft Word) can be used to apply GLML, allowing drafters to create and maintain “GLML’d” templates in the same way they approach traditional documentation.

Fundamentally, GLML permits the accurate extraction of key data from legal documentation, allowing it to be passed to relevant intermediaries in a standard and automated and seamless manner.

The wider implications of GLML

At first glance, it’s easy to underestimate the impact that a standard like GLML could have on the capital markets industry, but enormous benefits come from what it will enable.

First, GLML enables the accurate creation of structured data, which is usually produced and executed in an unstructured way in debt capital markets transactions. GLML therefore allows data to be passed between relevant transaction participants and financial market infrastructures automatically and seamlessly, and thus easily mapped to other formats. This alone will make capital markets workflows much more efficient, increasing profit margins and freeing up human resources to focus on value-add tasks and projects. Furthermore, as the volume of structured data increases, we gain further capabilities to enable increasing automation using AI tools.

Second, GLML enables capital markets participants, from dealers and borrowers to lawyers, to communicate easily, and collaborate throughout the capital raising process on digital platforms. This again reduces human error caused by data input, extraction and transformation.

Third, but perhaps most importantly, is that GLML as an open standard drives expansion of the ecosystem and enables innovation. For example, if one were to invest in digitising and automating all their capital markets documents through “low-code” or “no-code” tools, they would be locked into one vendor’s tools and standards. This means that, as the industry changes and new services emerge, or if you simply want to convert generated data to other formats, significant further effort is required. This slows down adoption of such tools and makes communication and interactions between multiple parties more challenging.

It is accepted that a lack of standards creates friction in a market, which limits interaction, flexibility, agility and innovation. One of the most obvious examples of this is seen in the emergence of the World Wide Web, which is underpinned by HTTP/HTML and led to the explosive adoption of the internet in the 90s. We can even go further back than this, where the lack of “standard”, or, more accurately, lack of a common railway gauge (rail width), led to significant challenges in the early railways. When a line of one gauge met a line of a different gauge, trains couldn’t run through without some form of conversion, which would normally lead to passengers having to change trains. This resulted in significant delays, inconvenience and cost. Widespread adoption of railways globally did not come until a standard gauge was created.

GLML will achieve for capital markets what HTTP did for the internet. It will support the simplification and ultimately democratisation of capital markets, ensuring the demand for capital can be efficiently and effectively connected to the supply.

GLML, as an open data standard, is the first step to digitising and automating the lifecycle of the issuance process. Today, capital markets processes are outdated, leading to vast and unnecessary cost and risk. Evolution is both essential and inevitable and, driven by GLML, 2021 will be the year that the debt capital markets transform for good as the industry converges around a common standard.

Continue Reading

Trading

Gold-i Integrates with CryptoCortex

Published

on

Has Cryptocurrency become the new digital gold?

Gold-i has integrated with CryptoCortex – an advanced digital asset trading platform from EPAM Systems, a leading global provider of digital platform engineering and development services. This provides financial institutions with increased access to multiple market makers and fully cleared cryptocurrency products available via Gold-i’s CryptoSwitch 2.0™, part of its Matrix multi-asset liquidity management platform.

The integration was completed following a request from a Gold-i client wanting to use the CryptoCortex platform to access liquidity from Hehmeyer and Shift Markets via Gold-i’s CryptoSwitch 2.0™.

Tom Higgins, CEO, Gold-i comments, “As digital asset trading continues to gain momentum amongst brokers, Prime of Primes and hedge funds, a key part of our strategy is to ensure that the cryptocurrency liquidity available through Gold-i’s liquidity management platform is easily accessible, regardless of which trading platform clients are using. CryptoCortex is one of the most advanced platforms for digital asset trading, therefore integrating with them was a logical step for Gold-i.”

“We are delighted to partner with Gold-i to provide our customers with real-time, event-driven processing and analytics that not only meets their essential needs but also delivers actionable intelligence,” said Ilya Gorelik, VP, Real-Time Computing Lab at EPAM. “Financial markets are among the fastest moving markets around, and with cutting edge tools – like CryptoCortex – that make data readily available, customers can quickly implement the best decisions possible.”

CryptoCortex is the most advanced institutional cryptocurrency trading platform on the market, providing a complete 360-degree solution for brokers/dealers, exchanges and buy-side trading firms. It has been developed by Deltix (now EPAM Systems), based on over 10 years’ experience in building, deploying and supporting institutional-grade intelligent trading across equities, futures, options, forex and fixed income.

Gold-i Matrix offers multiple routing and aggregation methods, leveraging connections with over 70 Liquidity Providers. It is super-fast and highly flexible, helping financial institutions worldwide to make more money and reduce risk.  It supports FX, CFDs and cryptocurrencies in a single solution which is fully compatible with the Gold-i Crypto Switch. Crypto Switch™ 2.0, provides brokers worldwide with a fully cleared cryptocurrency product and a cost-effective, efficient means of accessing multiple cryptocurrency market makers who can provide deep pools of liquidity as a CFD or physical asset. For further information, visit www.gold-i.com.

Continue Reading
Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.

Call For Entries

Global Banking and Finance Review Awards Nominations 2021
2021 Awards now open. Click Here to Nominate

Latest Articles

ComplyAdvantage Releases State Of Financial Crime Report For 2021 3 ComplyAdvantage Releases State Of Financial Crime Report For 2021 4
Top Stories14 hours ago

ComplyAdvantage Releases State Of Financial Crime Report For 2021

Designed as an must-have strategic roadmap for compliance teams, the comprehensive report covers financial crime insights related to fraud, cyber,...

Intermediaries will be key to Investment Houses navigating the Covid19 crisis Intermediaries will be key to Investment Houses navigating the Covid19 crisis
Investing14 hours ago

What is the procedure for proving a missing or lost Will?

By Alexa Payet, Partner at Bolt Burdon and listed specialist in the Certainty Contentious Probate Hub & Area Initial steps...

KBC Bank chooses Finastra for LIBOR transition 5 KBC Bank chooses Finastra for LIBOR transition 6
Finance14 hours ago

KBC Bank chooses Finastra for LIBOR transition

Fusion Loan IQ Alternative Reference Rate module and Fusion LIBOR Transition Calculator will help the bank move away from LIBOR...

How contactless payments helped a pizzeria survive  7 How contactless payments helped a pizzeria survive  8
Finance14 hours ago

How contactless payments helped a pizzeria survive 

By Kaushalya Somasundaram, Head of Payments Partnerships & Industry Relations at Square, UK The Covid-19 pandemic has caused continued uncertainty...

How will Revolut’s move into open banking affect us? How will Revolut’s move into open banking affect us?
Top Stories15 hours ago

Open Banking: a new mindset for future service delivery

By Christoph Berentzen, Head of API Banking, Commerzbank, addresses what Open Banking means to the Bank and how its proper...

Oil prices rise as investors look to higher demand seen in second half 9 Oil prices rise as investors look to higher demand seen in second half 10
Investing15 hours ago

Oil prices rise as investors look to higher demand seen in second half

By Shadia Nasralla LONDON (Reuters) – Oil prices climbed on Tuesday as optimism that government stimulus will eventually lift global...

DIGITAL DISRUPTION IN GLOBAL BANKING SECTOR CONTINUES TO INCREASE, SURVEY BY ACI WORLDWIDE AND YOUGOV REVEALS DIGITAL DISRUPTION IN GLOBAL BANKING SECTOR CONTINUES TO INCREASE, SURVEY BY ACI WORLDWIDE AND YOUGOV REVEALS
Top Stories15 hours ago

Automating your way out of disruption

By David Brightman, Director of Product Marketing at BlackLine The coronavirus pandemic has underlined the vital role that automation plays...

Ahead of expected IPO, Deliveroo recruits Next's Wolfson to board 11 Ahead of expected IPO, Deliveroo recruits Next's Wolfson to board 12
Business15 hours ago

Ahead of expected IPO, Deliveroo recruits Next’s Wolfson to board

LONDON (Reuters) – Britain’s Deliveroo said on Tuesday it has beefed up its board ahead of an expected initial public...

Dollar drops as traders prepare for Yellen to talk up stimulus 13 Dollar drops as traders prepare for Yellen to talk up stimulus 14
Business15 hours ago

Dollar drops as traders prepare for Yellen to talk up stimulus

By Tommy Wilkes LONDON (Reuters) – The dollar dropped on Tuesday as investors prepared for U.S. Treasury Secretary nominee Janet...

Trial by fire: Why 2020 experience will help the FX industry in 2021 15 Trial by fire: Why 2020 experience will help the FX industry in 2021 16
Trading15 hours ago

Trial by fire: Why 2020 experience will help the FX industry in 2021

By Vikas Srivastava, Chief Revenue Officer at Integral I think I can say with confidence that 2020 has been the...

Newsletters with Secrets & Analysis. Subscribe Now