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Ideanomics Divests Majority Stake in Electronics Supply Chain Company for Stake in Leading Internet and IOT Entity Targeting 2020 IPO

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Ideanomics Inc. (Nasdaq: IDEX) has today announced it has recently entered into an agreement to divest its 55% stake in the Amer Global electronic parts supply chain business for a 10% stake in the newly-formed, Hong Kong-based, Logistorm. Under the terms of the agreement, Ideanomics, along with other strategic partners including BCC Technology Company Limited, Tekang Holdings, and Beijing Financial as management holdings, among others, will assist Logistorm with improving its robotics and electronic internet industry and IOT business consisting of manufacturing data, supply chain management & financing, and lease financing of industrial robotics.

“The Logistorm team approached Ideanomics to acquire the Amer Global business as part of its plans to enter into the supply chain and trading of electronic parts to help streamline its robotics business operations,” said Alf Poor, CEO of Ideanomics. “This deal enables Ideanomics to get meaningful residual value from the Amer Global business which was already being wound down, in exchange for transitioning our operational expertise in electronic parts trading and for future advisory services ranging from sourcing of financing facilities, up to and including an IPO of the Logistorm business in a 2020 timeframe. This is part of Ideanomics active discussions to divest its legacy operations, with talks ongoing to also divest the oil business along with a number of China-based initiatives that were announced and formed since late 2017. All of this activity allows Ideanomics to focus on its AI, Cleantech, and IPO & Asset Management advisory services which has been previously communicated to the market.”

Ideanomics, directly holds the 10% ownership interest in Logistorm in place of the 55% interest in Amer Global previously owned by its Wide Angle subsidiary. Additionally, Ideanomics will nominate one director to the Board of Directors of Logistorm, as well as, provide advisory services to assist the company in pursuing a public listing on the Nasdaq, or an internationally recognized, leading, stock exchange. Logistorm is formed through the merging of four operating businesses with ongoing revenues, generated by acquisitions, of 12B RMB for the next three years.

 

SOURCE Ideanomics

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UBS Managing Director Choo Oi Yee To Join iSTOX As Chief Commercial Officer (CCO)

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UBS Managing Director Choo Oi Yee To Join iSTOX As Chief Commercial Officer (CCO)

 

iSTOX, the first regulated platform in any major global financial center to offer end-to-end issuance, custody, and trading of digitized securities, is pleased to announce the appointment of Choo Oi Yee as its first Chief Commercial Officer (CCO).

Choo has over 20 years of experience in the investment and banking industry, most recently as Managing Director and Head of Singapore Corporate Client Solutions for UBS, where she was responsible for UBS Singapore’s investment banking business. In her new role at iSTOX, Choo will be a key member of iSTOX’s management team responsible for driving the company’s overall business growth by building its network of investors and issuers. She will join the iSTOX team in January of 2020.

“I see some truly fundamental changes on the horizon for capital markets and I believe that Singapore — and the iSTOX team — are uniquely well positioned to take advantage of them,” she said. “I’m very excited to be joining the team and look forward to helping iSTOX grow into the platform of choice for 21st century issuance and investment.”

Choo’s appointment comes at a strategically important period for the company; iSTOX has initiated plans to grow its base of issuers and investors as it works towards graduation from MAS’s Fintech Regulatory Sandbox in early 2020.

“It was clear to us that we needed someone with Oi Yee’s stature, reputation, and experience for our CCO role. Among other requirements, we needed someone with deep securities, issuance, and trading experience at a very senior level; someone with outstanding relationships with major institutional investors, business leaders, family offices, and others; and, most importantly, someone with a deep and instinctual understanding of the challenges and opportunities facing issuers and investors,” said Danny Toe, Founder and Chief Executive Officer of ICHX.

“We are pleased to welcome Oi Yee to the team as we open up applications for iSTOX investor accounts and plan an exciting issuer pipeline ahead of our projected sandbox graduation early next year,” said Darius Liu, Co-Founder and Chief Strategy Officer of iSTOX.

 

SOURCE iSTOX

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Euromoney TRADEDATA Partners With UK FinTech ipushpull to Create On-demand ‘Data-as-a-service’

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Euromoney TRADEDATA is pleased to announce a strategic partnership with ipushpull, a powerful data sharing and workflow platform.

Euromoney TRADEDATA recognises that the on-demand model is the future of data consumption, particularly within community chat and messaging networks, as part of a suite of delivery systems required to service all parts of the market that need futures and options reference data.

Through a single connection to ipushpull, Euromoney TRADEDATA can distribute data into a variety of applications including Symphony, the secure collaboration platform, with nearly half a million connected financial market users. The ipushpull platform provides Euromoney TRADEDATA with new distribution channels for secure, audited, access-controlled data delivery.

Mark Woolfenden, Managing Director of Euromoney TRADEDATA, comments:

“This is a very important integration for Euromoney TRADEDATA, as we begin to experiment with embedded, on-demand workflow functionality and delivery systems for our reference data. We recognise ipushpull as a leading exponent in data sharing workflow technology and we expect further benefits from their connections to other community messaging solutions. Also, as part of the offering, we can now offer a functionally rich Excel plugin for desktop users to access our reference data, which integrates seamlessly within users’ existing workflows. In addition, we look forward to working with ipushpull to develop a clutch of bots, to further enhance our customers’ experience in using our data services.”

Matthew Cheung, CEO of ipushpull, comments:

“We’re excited to offer Euromoney TRADEDATA new avenues to deliver and monetise their data to a variety of desktop and cloud services. We see this innovative approach as the first step towards an on-demand ‘Netflix’-style distribution model for data producers and consumers.”

 

SOURCE Euromoney TRADEDATA; ipushpull

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360 Finance’s LendingAdda Launches Diwali Offers

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Photo source: m.chinaknowledge.com

LendingAdda consumer lending marketplace owned by parent company 360 Finance (NASDAQ: QFIN) announces Diwali offer for credit card holders. On 6th October, SBI announced a bumper Diwali offer for its credit card holder; on 10th October, the State Bank of India approved a ten percent discount for its credit card users; on 14th October, LendingAdda launched the credit card function, and AMEX, SBI, Citi banks’ cards are included.

Due to India’s inefficient banking system, most people do not have a credit history, which leads to lower utilization of credit cards and limited accessible for many.

In this condition, fintech companies empower people’s lives compared with banks. LendingAdda, a digital finance platform, has integrated more diversified financial services. Its innovative data-driven and behavioral risk management models can help overcome barriers that arise from a lack of widespread and robust credit scoring.

Prantik Ray, professor of finance at XLRI-Xavier School of Management at the University of Minnesota, has stated that digital finance can be instrumental in providing credit ratings and potentially be leveraged in other areas. In essence, online finance can help create more possibilities in people’s lives.

LendingAdda evaluates a user’s credit based on big data and selects the most suitable loan and credit card product offers for consumers using intelligent matching. So far, it has offered lending services to more than 4 million Indians, and the number of borrowers is multiplying.

Most importantly, LendingAdda’s products cover almost every part of a user’s daily life: microfinance, credit cards, commercial loans, mortgages, auto loans, medical loans, education loans, etc., and its interest rate is usually lower than banks.

Additionally, LendingAdda has a higher credit line (up to 10 lakhs), which can almost always meet the borrowing needs of consumers, and the money arrival rate is less than 5 minutes, which was much faster than the bank.

With the help of LendingAdda, Moham finally got his wish of buying an iPhone for his girlfriend, which he thinks will help him bring greater happiness to his life.

How does LendingAaad help people accomplish their dreams?

Compared with many other enterprises, LendingAdda has world-class technology that enables it to offer a highly secure lending process with tailored products and services that help serve the daily lives of its users.

 

SOURCE 360 Finance, Inc.

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