Toronto, Ontario and New York, New York–(Newsfile Corp. – February 1, 2023) – QuantGate Systems Inc. (OTCQB: QGSI) (the “QuantGate” or “Company“), an Artificial Intelligence (“AI“), Machine Learning (“ML“) SaaS-based Fintech solutions provider, is pleased to announce the company is pursuing a new strategic direction into the Investment Management Sector and the addition of a new member to the QuantGate team. This move comes as a response to the growing demand for highly advanced technologies, sophisticated analytical tools, and leveraging AI & ML in the Investment industry.
QuantGate Systems is a technology company that has developed a suite of SaaS-based technology, including proprietary big-data processing algorithms and analytics, to deliver solutions and seamless API integration to the investment community. The company’s technology aims to help Investment Managers make better-informed decisions, identify new opportunities, and increase their potential for return on investment to provide investors with the insights they need to succeed in the financial markets.
“We are excited to embark on this new strategic direction and bring our expertise in technology and data analysis to the Investment Management sector with our proprietary AI technologies and algorithms,” states Wayne Welter, Chairman of QuantGate Systems Inc. “We believe that our advanced analytics tools and software will help investment managers make better-informed decisions, identify new opportunities, and increase their ROI.”
Ilan Yosef, CTO of QuantGate, commented: “Our QuantGate team continues to develop many innovative fintech applications for both retail and institutional investors. Now QuantGate has a great opportunity to further expand its proprietary AI into traditional and alternative investment management.”
QuantGate is also delighted to announce that Mark Casaletto (LinkedIn: Mark Casaletto) has agreed to join the Board of Directors. Mark is bringing over 25 years of experience in establishing operational optimization across diverse industries in both national and international operations, with a proven track record of achieving revenue, profit, and business growth within start-up, turnaround, and rapid-change environments. Mark stated: “I have had the privilege of being associated with some leading edge innovation in the data, analytics, and software as a solution (SaaS) space. The QuantGate team has unleashed some of the most powerful use cases that I have seen on how to best utilize big data and combine it with the power and potential of artificial intelligence technology.”
QuantGate Systems is committed to delivering the best solutions to its clients, and this new strategic direction is a reflection of that commitment. The company will continue to invest in research and development to stay at the forefront of technological advancements and to provide its clients with the most advanced and effective software and technology solutions available.
The company also announces that Govin Misir (CEO & Director) has resigned from the company, effective immediately. In reference to the Press Release dated July 6, 2022 (CEO Acquires Shares), this has been terminated. Stuart Hensman (Director) has also resigned from the company, effective immediately. The company thanks both of these individuals for their service and wishes them well in their future endeavors.
About the Company
QuantGate Systems Inc. (OTCQB: QGSI) is a publicly-traded fintech company operating for over ten years, developing sophisticated Artificial Intelligence (AI), Machine Learning (ML), and proprietary big-data processing algorithms and analytics to deliver SaaS solutions and seamless API integration. Pilot Trading (www.pilottrading.co) is a 100% wholly-owned subsidiary of QuantGate. Our core intelligence identifies investment opportunities across multiple asset classes, rooted in the financial markets, and perfected for cryptocurrency exchanges, enabling our valued clients to make better-informed investment decisions. Turnkey solutions and efficient APIs, founded on robust and scalable SaaS architecture, easily allow 3rd party integration for onboarding existing users and scaling globally.
ON BEHALF OF THE BOARD OF DIRECTORS
QuantGate Systems Inc.
Wayne Welter, Chairman
150 Bloor Street West, M103
Toronto, ON, M5S 1M4
E: [email protected]
T: +1 (416) 993-8896
Forward-Looking Statements Disclaimer and Reader Advisory:
All statements included in this press release that address activities, events, or developments that the Company expects, believes, or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections, and other forward-looking statements will prove inaccurate, certain of which are beyond the Company’s control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not undertake to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.
QuantGate Systems Inc. does not undertake any obligation to update forward-looking statements and cautions investors to consider all other risks and uncertainties, including those disclosed in QuantGate filings with the United States Securities and Exchange Commission.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/153144
Expressions of Interest for Director of the European Bank for Reconstruction and Development
The Minister for Finance, Michael McGrath, is inviting Expressions of Interest from suitably qualified candidates to be considered as Ireland’s Director of the London-based European Bank for Reconstruction and Development (EBRD). The remunerated position of Director is an important post with a demanding workload. A full-time residential position, it is based at Bank headquarters in London.
The Minister’s nominee is expected to be appointed by the EBRD, with the agreement of Ireland’s Constituency partner countries, for a three-year term from 1 August 2024.
Minister McGrath commented:
“This is an exciting opportunity to represent Ireland (and our Constituency partners Denmark, Lithuania and Kosovo) as a Director on the Board of the European Bank for Reconstruction and Development overseeing the policy-making and governance of the Bank. The EBRD is a unique International Financial Institution supporting projects across three continents. By investing in projects which otherwise would not be fully met by the market, the EBRD promotes entrepreneurship and fosters transition towards open and sustainable market economies. I am keen to ensure our Irish representative has the ability, education, vision, and experience to make a significant contribution to the Board and brings a range of skills and diverse perspective to the deliberations of the Board.
My nominee will need high competence in economic and financial matters. Expertise can come from notable or significant achievements in the corporate or financial sector, academia, policy-focused institutions, or public service. Importantly, they will have the highest ethical standards, a strong sense of professionalism and commitment, and dedication to serving the interests of all the shareholders and be able to make themself readily available to the Board in the fulfilment of their duties.”
Expressions of interest will be accepted up to 3pm on 27th March 2024
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Council adopts regulation on instant payments
The Council adopted today a regulation that will make instant payments fully available in euro to consumers and businesses in the EU and in EEA countries.
The new rules will improve the strategic autonomy of the European economic and financial sector as they will help reduce any excessive reliance on third-country financial institutions and infrastructures. Improving the possibilities to mobilize cash-flows will bring benefits for citizens and companies and allow for innovative added value services.
The instant payments regulation will allow people to transfer money within ten seconds at any time of the day, including outside business hours, not only within the same country but also to another EU member state. The regulation takes into consideration particularities of non-euro area entities.
Payment service providers such as banks, which provide standard credit transfers in euro, will be required to offer the service of sending and receiving instant payments in euro. The charges that apply (if any) must not be higher than the charges that apply for standard credit transfers.
The new rules will come into force after a transition period that will be faster in the euro area and longer in the non-euro area, that needs more time to adjust.
The regulation grants access for payment and e-money institutions (PIEMIs) to payment systems, by changing the settlement finality Directive (SFD). As a result, these entities will be covered by the obligation to offer the service of sending and receiving instant credit transfers, after a transitional period. The regulation includes appropriate safeguards to ensure that the access of PIEMIs to payment systems doesn’t carry additional risk to the system.
Under the new rules, instant payment providers will need to verify that the beneficiary’s IBAN and name match in order to alert the payer to possible mistakes or fraud before a transaction is made. This requirement will apply to regular transfers too.
The regulation includes a review clause with a requirement for the Commission to present a report containing an evaluation of the development of credit charges.
This initiative comes in the context of the completion of the capital markets union. The capital markets union is the EU’s initiative to create a truly single market for capital across the EU. It aims to get investment and savings flowing across all member states for the benefit of citizens, businesses, and investors.
On 26 October 2022 the Commission put forward a proposal on instant payments that amends and modernises the single euro payments area (SEPA) regulation of 2012 on standard credit transfers in euro by adding to it specific provisions for instant credit transfers in euro.
Source: European Council
FCA highlights need for enhanced competition in wholesale data markets
The FCA has unveiled the outcomes of its in-depth study into the wholesale data market, focusing on the sectors of credit ratings data, benchmarks, and market data vendor services.
Despite deciding against major regulatory actions due to the risk of unintended consequences that could affect the data’s availability and quality—a crucial resource for global investors—the FCA has pinpointed several areas where competition could be significantly improved.
The study’s revelations indicate that the current state of competition in these markets may lead to users incurring higher costs for data than would be the case in a more competitive environment. This concern is particularly pressing given the critical role that such data plays in supporting effective investment decisions across the financial sector.
In a move to address these findings, the FCA has proposed initiatives aimed at ensuring wholesale data is distributed under fair, reasonable, and transparent conditions. This approach forms a part of the regulator’s broader strategy to ‘repeal and replace’ assimilated EU law, reinforcing the UK’s status as a premier global financial hub fostering investment, innovation, and sustainable growth.
Sheldon Mills, the FCA’s Executive Director of Consumers and Competition, emphasised the importance of quality and accessible wholesale data for the efficiency of financial markets. “The quality and availability of wholesale data is integral to well-functioning wholesale financial markets,” Mills stated. He further clarified, “Our market study found that firms can access the data they need to make effective investment decisions. We do not believe the case has been made for significant interventions. However, we will examine ways to help support wholesale data being provided on fair, reasonable and transparent terms.”
In its commitment to fostering a competitive and fair marketplace, the FCA will continue to scrutinize allegations of anti-competitive behavior across all markets, including wholesale data markets, leveraging its powers under the Competition Act to address any such issues.
Source: Fintech Global
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