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Ringing in the New Year with the striking ATFX Trader Magazine

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ATFX analysts still see the markets being dominated by oscillations in Q1 of 2023. As a leading fintech broker, ATFX’s analyst team has closely monitored the financial markets to provide our global customers with forward-looking reports. Given the economic situation in different countries and the Fed’s recent rate hike, the new Q1 Trader Magazine is released to offer deep insights into the opportunities available to investors in Q1.

Martin Lam, ATFX Chief Analyst for the Asia Pacific, gave his views on the “Global Financial Outlook 2023 Q1”. In this issue of the Trader Magazine, he outlined the “key points” for investors seeking opportunities amid  interest rate hikes by global central banks and the increased risk of an economic slowdown and a broader economic downturn.

Mohammed Shanti, ATFX Senior Market Analyst (MENA), focuses on the “U.S. Equity Index”. According to Shanti, “Inflation has fallen from its peak over the past few months. As a result of this optimism, the US stock market has rebounded sharply, recovering some of its decline in the past year.”

Dr. Mohamed Nabawy, ATFX MENA Market Analyst, dives deep into the “EU Equity Index”. With monetary tightening, the 2023 European equity index could decline due to the potential risk of an economic recession as the main factor and the monthly table of DAX30 and FTSE as additional factors. Dr. Mohamed Nabawy gives investors a clearer picture of the most likely EU index movements in Q1.

Jessica Lin, ATFX (Asia Pacific) Global Market Analyst, is an expert on gold, silver, and the USD/CAD. Through her analysis, readers can clearly understand the inherent opportunities in gold and silver and the opportunities and challenges faced by investors in a volatile market.

Jason Tee, ATFX (Asia Pacific) Global Market Strategist, shares his views on the trends of “crude oil” in Q1 in the magazine. In addition to the above analyst columns, ATFX LATAM Market Analyst Eduardo Ramos, ATFX Guest Analyst Dean Chen, and ATFX Market Analyst (VietnamLinh Tran also provide detailed analysis of the “USD/MXN”, “USD/JPY”, “EUR/USD”, “USD/CNH”, and the “Eurozone economy”.

This is the 8th issue of the quarterly Trader Magazine, created with great effort from ATFX’s team of global analysts. Using their in-depth knowledge of the financial markets and cumulative experience, the analysts wrote forward-looking reports for ATFX’s clients and investors, trying to summarize global macroeconomic dynamics in a single magazine issue. In the future, our analysts will continue to provide you with more detailed market reports through various columns.

ATFX 
ATFX is an award-winning currency pairs/CFD broker with a global presence offering customer support in over 15 languages. With over 300 tradable financial assets, including currency pairs, precious metals, energy, indices, and shares traded as CFDs, ATFX is regulated by the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, the Financial Services Commission (FSC) in Mauritius, and the Financial Services Authority (FSA) in Saint Vincent and the Grenadines. (ATFX Website: https://www.atfx.com)

SOURCE ATFX

Fintech

Central banks and the FinTech sector unite to change global payments space

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The BIS, along with seven leading central banks and a cohort of private financial firms, has embarked on an ambitious venture known as Project Agorá.

Named after the Greek word for “marketplace,” this initiative stands at the forefront of exploring the potential of tokenisation to significantly enhance the operational efficiency of the monetary system worldwide.

Central to this pioneering project are the Bank of France (on behalf of the Eurosystem), the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York. These institutions have joined forces under the banner of Project Agorá, in partnership with an extensive assembly of private financial entities convened by the Institute of International Finance (IIF).

At the heart of Project Agorá is the pursuit of integrating tokenised commercial bank deposits with tokenised wholesale central bank money within a unified, public-private programmable financial platform. By harnessing the advanced capabilities of smart contracts and programmability, the project aspires to unlock new transactional possibilities that were previously infeasible or impractical, thereby fostering novel opportunities that could benefit businesses and consumers alike.

The collaborative effort seeks to address and surmount a variety of structural inefficiencies that currently plague cross-border payments. These challenges include disparate legal, regulatory, and technical standards; varying operating hours and time zones; and the heightened complexity associated with conducting financial integrity checks (such as anti-money laundering and customer verification procedures), which are often redundantly executed across multiple stages of a single transaction due to the involvement of several intermediaries.

As a beacon of experimental and exploratory projects, the BIS Innovation Hub is committed to delivering public goods to the global central banking community through initiatives like Project Agorá. In line with this mission, the BIS will soon issue a call for expressions of interest from private financial institutions eager to contribute to this ground-breaking project. The IIF will facilitate the involvement of private sector participants, extending an invitation to regulated financial institutions representing each of the seven aforementioned currencies to partake in this transformative endeavour.

Source: fintech.globa

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TD Bank inks multi-year strategic partnership with Google Cloud

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TD Bank has inked a multi-year deal with Google Cloud as it looks to streamline the development and deployment of new products and services.

The deal will see the Canadian banking group integrate the vendor’s cloud services into a wider portion of its technology solutions portfolio, a move which TD expects will enable it “to respond quickly to changing customer expectations by rolling out new features, updates, or entirely new financial products at an accelerated pace”.

This marks an expansion of the already established relationship between TD Bank and Google Cloud after the group previously adopted the vendor’s Google Kubernetes Engine (GKE) for TD Securities Automated Trading (TDSAT), the Chicago-based subsidiary of its investment banking unit, TD Securities.

TDSAT uses GKE for process automation and quantitative modelling across fixed income markets, resulting in the development of a “data-driven research platform” capable of processing large research workloads in trading.

Dan Bosman, SVP and CIO of TD Securities, claims the infrastructure has so far supported TDSAT with “compute-intensive quantitative analysis” while expanding the subsidiary’s “trading volumes and portfolio size”.

TD’s new partnership with Google Cloud will see the group attempt to replicate the same level of success across its entire portfolio.

Source: fintechfutures.com

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MAS launches transformative platform to combat money laundering

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The MAS has unveiled Cosmic, an acronym for Collaborative Sharing of Money Laundering/Terrorism Financing Information and Cases, a new money laundering platform.

According to Business Times, launched on April 1, Cosmic stands out as the first centralised digital platform dedicated to combating money laundering, terrorism financing, and proliferation financing on a worldwide scale. This move follows the enactment of the Financial Services and Markets (Amendment) Act 2023, which, along with its subsidiary legislation, commenced on the same day to provide a solid legal foundation and safeguards for information sharing among financial institutions (FIs).

Cosmic enables participating FIs to exchange customer information when certain “red flags” indicate potential suspicious activities. The platform’s introduction is a testament to MAS’s commitment to ensuring the integrity of the financial sector, mandating participants to establish stringent policies and operational safeguards to maintain the confidentiality of the shared information. This strategic approach allows for the efficient exchange of intelligence on potential criminal activities while protecting legitimate customers.

Significantly, Cosmic was co-developed by MAS and six leading commercial banks in Singapore—OCBC, UOB, DBS, Citibank, HSBC, and Standard Chartered—which will serve as participant FIs during its initial phase. The initiative emphasizes voluntary information sharing focused on addressing key financial crime risks within the commercial banking sector, such as the misuse of legal persons, trade finance, and proliferation financing.

Loo Siew Yee, assistant managing director for policy, payments, and financial crime at MAS, highlighted that Cosmic enhances the existing collaboration between the industry and law enforcement authorities, fortifying Singapore’s reputation as a well-regulated and trusted financial hub. Similarly, Pua Xiao Wei of Citi Singapore and Loretta Yuen of OCBC have expressed their institutions’ support for Cosmic, noting its potential to ramp up anti-money laundering efforts and its significance as a development in the banking sector’s ability to combat financial crimes efficiently. DBS’ Lam Chee Kin also praised Cosmic as a “game changer,” emphasizing the careful balance between combating financial crime and ensuring legitimate customers’ access to financial services.

Source: fintech.global

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