News Centre

The Innotribe Startup Challenge Returns To Africa For The Third Consecutive Year. Startups, It Is Time To Apply!

Date 31/01/2017

SWIFT Innotribe announces today that the Startup Challenge for Africa is open for applications. For the third year running, the Startup Challenge will be part of SWIFT’s African Regional Conference (ARC) held in Abidjan, Ivory Coast, from 16-18 May 2017. ARC brings together policy makers, industry leaders and the broader financial community from across the African continent. Typically attracting up to 500 delegates from around 40 countries, ARC is a unique forum for networking, education, discussion and debate and a great platform for FinTech startups to connect with the financial sector.

ADX Discusses Cooperation Ties With ADSIC And STRATA

Date 31/01/2017

In an effort to bolster further cooperation with all governmental institutions in UAE, Abu Dhabi Securities Exchange (ADX) Chief Executive, Rashed Al Blooshi recently received H.E. Badr S. Al-Olama, Chief Executive Officer of STRATA, and a delegation from Abu Dhabi Systems & Information Centre (ADSIC) headed by Mr. Saeed Mohammed Al Mansoori, Executive Director of Shared Government Services at ADSIC, and Mr. Abdullah Talib Al Ameri, Office Manager to Director General of ADSIC.

Dubai Financial Services Authority Proposes Framework For Loan-based Crowdfunding To support SME Financing

Date 31/01/2017

The Dubai Financial Services Authority (DFSA) has today launched a consultation on its proposed framework for regulating loan-based crowdfunding platforms. The consultation is the first in a series of papers which set out the DFSA’s approach to the regulation of crowdfunding platforms and the financial technology (FinTech) industry within the Dubai International Financial Centre (DIFC).

Contango Whitepaper: The Changing Face Of Client Derivatives Clearing

Date 31/01/2017

Contango has just released a special report looking at the changing face of client derivatives clearing as regulation, higher capital requirements and constraints on revenue models are changing the way banks in particular look at their clients. In line with a trend that started some years ago, the number of derivatives clearing firms is shrinking further. Banks must earn more from their clients or be faced with exiting the listed derivative brokerage business (unwelcome), accept lower returns on capital utilised (unlikely) or be more picky about the types of clients that they serve (likely). As a result a number are ‘reassessing’ their client base and some clients just don’t fit any more.

Innotribe Calls On The Best FinTech Startups In Russia And Neighbouring CIS Countries

Date 31/01/2017

SWIFT announces today that the Innotribe Startup Challenge for Russia is open for applications. For the first time this year, Innotribe is pleased to partner with the ROSSWIFT (Russian National SWIFT Member and User Group), namely the Bank of Russia, the National Settlement Depository, Sberbank, and Alfa-Bank to organise the Startup Challenge showcase during the International Financial Congress (IFC). Hosted by the Bank of Russia, our general partner for this first Startup Challenge in Russia, the IFC is Russia's largest international financial forum and will take place from 12-14 July 2017 in St. Petersburg.

Solactive Launches Solactive Swiss Family Owned Companies Index - Licensed To UBS

Date 31/01/2017

Solactive is announcing the release of the Solactive Swiss Family Owned Companies Index, an index tracking the price movements of publicly traded family-owned companies       that are domiciled and listed in Switzerland. The index is used as the basis for UBS’s tracker certificate (ISIN: CH0350101744). Family-owned companies are defined in the index as those in which the family ownership stake is of at least 32%. In addition, companies require a minimum threshold of CHF 500,000 for the 3-month average daily traded value to be included as components.

Torstone Technology Partners With Unavista To Provide Complete Mifir Reporting Service For Clients

Date 31/01/2017

Torstone Technology, a leading provider of securities and derivatives processing software to the global financial markets, today announced that it will connect to London Stock Exchange Group’s UnaVista Approved Reporting Mechanism (ARM). The service will allow users of Torstone’s new InfernoRC (Regulatory Compliance) module to comply with the transaction reporting obligations of the Markets in Financial Instruments Regulation (MiFIR).

DFM Plans To Introduce Central Counterparty (CCP) Clearing In Line With International Best Practice

Date 31/01/2017

• The DFM will begin consultation on its new clearing model in the second quarter of 2017 and plans to commence the CCP Company’s operations early 2019
• His Excellency Essa Kazim: "significant market enhancement in order to well- position the market for sustained growth, as the introduction of a CCP reduces risk and improves liquidity"
• Maryam Fekri: “The CCP Company will be an independent subsidiary fully owned by DFM, as part of comprehensive restructuring of Post-trade services in line with international best practices”

J.B. Hunt Transport Services, Inc. To Join The NASDAQ-100 Index Beginning February 7, 2017

Date 31/01/2017

Nasdaq (Nasdaq:NDAQ) today announced that J.B. Hunt Transport Services, Inc. (Nasdaq:JBHT), will become a component of the NASDAQ-100 Index® (Nasdaq:NDX) and the NASDAQ-100 Equal Weighted Index (Nasdaq:NDXE) prior to market open on Tuesday, February 7, 2017. J.B. Hunt Transport Services, Inc. will replace NXP Semiconductors N.V. (Nasdaq:NXPI) in the indexes.

Al Mawared Brokerage Amman Stock Exchange Weekly Report Jan 22 - Jan 26, 2017

Date 31/01/2017

Market Summary

• Amman Stock Exchange (ASE) Share Price Index closed the week at 2146.43 decreasing 1.10% month to date and decreasing 0.19% week to date 
• Total market capitalization at market close on 26th of January 2017 was JD 17.1 billion decreasing 1.12% month to date and decreasing 0.05 week to date 
• USD/JD peg range (0.7097 – 0.7100)