Fintech PR

Former Anglo American CEO Mark Cutifani Joins Diamond Standard Advisory Board

Published

9 months ago

February 27, 2024

Anglo American is parent of De Beers, the leading diamond miner

NEW YORK, Feb. 27, 2024 /PRNewswire/ — Diamond Standard Co., developer of the world’s only regulated and market traded natural diamond commodities, today announced that Mark Cutifani CBE, an influential mining executive, has joined the company’s board of advisors.

As CEO from 2013 to 2022, Cutifani is credited with transforming Anglo American, one of the world’s largest mining companies, where he delivered a fivefold increase in stock price. He was Chairman of De Beers, the leading diamond mine operator and marketer of natural diamonds.

Currently, he serves as Chairman of Vale Base Metals, which shortly after his appointment raised $3.4 billion from the Public Investment Fund and Ma’aden mining of Saudi Arabia.

Mr. Cutifani was formerly CEO of AngloGold Ashanti, a $7 billion market cap mining company producing gold, silver and uranium.

He was a member of the World Gold Council during the development of the SPDR^® Gold Trust. Operated by State Street Global Advisors, it was briefly the largest ETF in the world, and within 7 years of listing, gold had appreciated by over 300%, in part due to this new investor demand.

The timing of his joining Diamond Standard coincides with the company’s ambitious plans to launch listed financial products for diamonds, finally enabling investors to diversify into an underallocated asset with significant upside potential. Diamond Standard has agreed to develop futures on MGEX via CME Globex and options on MIAX, and previously filed an ETF.

Diamond Standard Fund, the company’s inaugural fund offering, is a collaboration with Horizon Kinetics, a $6.5 billion SEC-registered investment advisor and sponsor of the Inflation Beneficiaries ETF (NYSE:INFL). A strategic partnership with Oasis Pro Markets will allow for this private fund for accredited investors to list on an Alternative Trading System.

“Mark’s global perspective and experience will help us to apply our technology to unlock other natural resources as investable assets.” said Diamond Standard Founder, Cormac Kinney.

Diamond Standard’s innovative commodities are transparent coins and bars containing geologically equivalent sets of natural diamonds, assembled under supervision of the Bermuda Monetary Authority and internal audit by Deloitte. Bloomberg and Refinitiv publish the daily market price, and the commodities trade on the Diamond Standard Spot Marketplace.

By using computer science to optimize diamonds into a market-traded asset, Diamond Standard^® enables investors to access a natural resource worth $1.2 trillion – more than all the world’s silver and platinum combined. This breakthrough real world asset is efficiently transacted as a vault receipt token, providing diversification, potential inflation protection, and a new store of wealth for institutional and individual investors, while bringing transparency and efficiency to the diamond supply chain. To Invest Brilliantly^®, visit www.diamondstandard.co

This does not constitute an offer of securities. Investors should carefully review all risk factors, conflicts, expenses, etc. disclosed by the private placement memorandum. Securities offered by Oasis Pro Markets, LLC member of FINRA / SIPC

CONTACT: Anila Daci, [email protected]

Logo – https://mma.prnewswire.com/media/1084772/4563693/Diamond_Standard_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/former-anglo-american-ceo-mark-cutifani-joins-diamond-standard-advisory-board-302073029.html

Fintech PR

Fintica AI and Legend Arb of Hong Kong Announce Strategic Investment and Partnership

Published

2 hours ago

November 28, 2024

CISION (PR Newswire)

HONG KONG, Nov. 27, 2024 /PRNewswire/ — Fintica AI Ltd, a leading innovator in next-generation AI solutions for capital markets, and Legend Arb Trading Limited, a Hong Kong-based proprietary trading firm with a global footprint across major financial hubs such as Shanghai, Taiwan, and Singapore, have announced a strategic investment and partnership.

Through this collaboration, Legend Arb has made a strategic investment in Fintica AI, strengthening the partnership between the two companies. This alliance will empower Legend Arb to advance its quantitative trading capabilities by harnessing Fintica AI’s unique unsupervised artificial intelligence technology. The partnership also aims to launch innovative new products and solutions. Simultaneously, Fintica AI will expand its business development efforts and market presence in Hong Kong and the Greater China region.

Kace Lam, Chief Executive Officer of Legend Arb, stated:
“Legend Arb is excited to collaborate with Fintica AI and its world-class AI technology team, known for pioneering advancements in quantitative modeling for financial markets. By combining Fintica AI’s deep academic and R&D expertise with our robust trading experience, we are poised to unlock significant value and drive innovation in quantitative trading strategies.”

Philippe Metoudi, Chief Executive Officer of Fintica AI, remarked:
“This partnership with Legend Arb represents a significant step forward in our mission to revolutionize the financial markets with advanced AI solutions. By joining forces, we can harness our respective strengths, explore the untapped potential of Hong Kong and Greater China’s financial sector, and deliver transformative innovations that shape the future of quantitative investment.”

About Fintica AI Ltd:
Fintica AI is a leading fintech company specializing in advanced AI solutions for capital markets. Its flagship platform, Spectrum MRI, delivers state-of-the-art tools for identifying market regimes across asset classes, including equities, fixed income, and commodities. By offering predictive analytics and robust risk-management capabilities, Fintica AI empowers investment managers, quantitative analysts, and strategic allocation teams with cutting-edge decision support tools. Headquartered in Tel Aviv, the company maintains a strong presence in major global financial hubs, driving innovation and excellence in the financial industry.

About Legend Arb Trading Limited:
Legend Arb is a Hong Kong-based proprietary trading company with a global presence in major financial centers like Shanghai, Taiwan, and Singapore. Specialized in pricing of Chinese-related products, equity index futures, and commodities futures, Legend Arb acts as a committed market maker to provide liquidity for HKEX and SGX.

For further information:
Visit www.fintica-ai.com
email [email protected].

View original content:https://www.prnewswire.co.uk/news-releases/fintica-ai-and-legend-arb-of-hong-kong-announce-strategic-investment-and-partnership-302317533.html

Fintech PR

24 Exchange Receives SEC Approval of its New National Securities Exchange, “24X National Exchange”

Published

5 hours ago

November 27, 2024

CISION (PR Newswire)

24X National Exchange Plans to be the First Exchange to Offer U.S. Equities Trading 23 Hours-Per-Day on Weekdays

STAMFORD, Conn., Nov. 27, 2024 /PRNewswire/ — 24 Exchange announced today that it has received approval from the U.S. Securities and Exchange Commission to operate 24X National Exchange as the first national securities exchange in the U.S. that allows trading of U.S. securities 23 hours each workday. The extended hour trading is subject to Equity Data Plans making changes that would facilitate overnight trading hours and 24X National Exchange making an additional rule filing with the SEC confirming the changes and the Exchange’s ability to comply with the Securities Exchange Act.

24X National Exchange will be subject to the SEC’s ongoing regulatory oversight and full range of investor protections. The new Exchange will enable retail and institutional customers anywhere in the world to trade in U.S. equities via broker-dealers who are approved members of 24X National Exchange.

24X National Exchange will be launched in two stages. A first stage will open in the second half of 2025, with the Exchange operating from 4:00AM ET to 7:00PM ET on weekdays. The second stage, which will launch once the conditions noted above are met, will offer trading in U.S. equities from 8:00PM ET on Sunday through 7:00PM ET on Friday. A one-hour operational pause will occur during each trading day to accommodate routine software upgrades and functionality testing.

24 Exchange CEO and Founder Dmitri Galinov said: “The SEC’s approval of our new exchange is a thrilling development that the 24X Team has been working toward for many years. Traders are most at-risk when the market is closed in their geographic location. 24X National Exchange will seek to alleviate this problem by facilitating around-the-clock U.S. equities trading for broker-dealers and their institutional and retail customers.”

As the first national securities exchange approved by the SEC to operate 23 hours each weekday, subject to the conditions noted above, 24X National Exchange will initially focus on capturing the expanding demand in the APAC region for overnight liquidity in U.S. equities.

The 24X National Exchange will run on a proven, state-of-the-art technology platform provided by MEMX Technologies. The new Exchange’s executive team will place a high priority on enhancing client experience through continuous technology innovations and improvements.

“With this historic SEC approval in place, we will build and operate a customer-driven Exchange that can rapidly align with market demands and adapt quickly to client feedback,” Galinov added. “We look forward to bringing a superior trading experience to global customers. 24X National Exchange will deliver the cost efficiency, speed, resilience, and adaptability that the company’s financial institutional customers have long come to expect.”

24X National Exchange will close on U.S. market holidays, similar to the schedules maintained by the NYSE and Nasdaq.

24 Exchange through 24X Bermuda Limited, an affiliate of 24X National Exchange, will continue to offer FX NDFs, Swaps and Spot trading to institutional clients. Since its launch in 2019, 24 Exchange’s multi-asset offering through a single trading interface has enabled clients to access increased liquidity at lower cost.

About 24 Exchange

24 Exchange allows market participants to seamlessly exchange their exposures at the lowest possible cost. 24 Exchange’s mission is to enable members to initiate the most cost-effective trades across a growing range of asset classes, 24 hours a day. 24 Exchange lowers the cost of exchanging assets in the global markets while delivering creative and unique workflows catered to each asset class. More information is available at https://24exchange.com/.

Media Contact:
Eric Andrus, KARV
[email protected]
Phone: +1 (212) 333-0275

View original content:https://www.prnewswire.co.uk/news-releases/24-exchange-receives-sec-approval-of-its-new-national-securities-exchange-24x-national-exchange-302317888.html

Fintech PR

HPOS10I Lands on ByVotes to Get Community Backing for Bybit Listing

Published

8 hours ago

November 27, 2024

CISION (PR Newswire)

hpos10i-lands-on-byvotes-to-get-community-backing-for-bybit-listing

DUBAI, UAE, Nov. 28, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, unveiled a new candidate for a potential Bybit Spot listing via ByVotes, HPOS10I (HarryPotterObamaSonic10Inu). Voting is now open for Bybit users with an opportunity to divide a prize pool of 1,800,000 HPOS10I.

From now to Nov. 29, 8AM UTC, supporters of HPOS10I may cast their votes for the project in two simple steps: deposit eligible assets into their Bybit account to produce a holdings snapshot, and head over to ByVotes to cast their votes. With sufficient votes from the community, the project will be listed on Bybit Spot, and the voters will receive a share of the airdrop from HPOS10I.

The iconic memecoin was the first of its kind to fuse the realm of fantasy and the chaotic lure of crypto, leaving its mark in crypto history since its launch in May 2023. It is known for its vibrant community, the Sproto Gremlins, an NFT collection of 3,333 exclusive unique manifestations of HPOS10I’s egregore.

Bybit has recently revamped ByVotes to raise the bar for listing requirements and yield more power to the community. Users now have more control over the number of votes they get by increasing holdings or by referrals, while unlocking more earning potentials from project listings.

The new mechanism enhanced both project quality and community engagements. A variety of tokens have achieved 100% listing odds via ByVotes, including CHILLGUY, LUCE, and NEIROCTO, among others. Multiple projects featured exclusive airdrops for the community that helped them become listed on Bybit Spot.

ByVotes provides an arena for niche projects where participants stand to be rewarded from various prize pools if the projects they vote for succeed in getting listed status on Bybit Spot: ByVotes Spot.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press

For media inquiries, please contact: [email protected]

For more information, please visit: https://www.bybit.com

For updates, please follow: Bybit’s Communities and Social Media