The commodity derivatives ancillary test is easily one of the most complex pieces within MiFID II, making the double volume cap in equities look more like an amuse-bouche. The new test determines whether a firm’s dealing in commodity derivatives is merely an ancillary activity, allowing it to stay out of scope for MiFID II. Trying to summarise the test in a few simple slides highlights its convoluted nature.

Technology has completely transformed the way we bank. Consumers and businesses are demanding immediate transactions on the move and the use of mobile banking apps is sky-rocketing. 

In recent months, we’ve seen a rapid shift towards a new breed of digital-only banks such as Monzo and Tandem, which are meeting expectations for real-time payments, detailed insights on spending and fast customer service. They are forcing traditional banking providers to rapidly pick up the pace of digital transformation and overhaul their customer offers.

Sub-Saharan Africa accounts for more than half of all mobile money deployments worldwide and is pioneering a range of new mobile money use cases, according to new GSMA data. 

Amsterdam based yieldport.com announced it has launched a community platform for investors seeking higher yield. 

For the revamp of its Online Banking platform, Credit Suisse worked closely with private and corporate clients with the aim of developing functionalities that match their needs as closely as possible. 

Axioma announced today the appointment of Thomas D. Severance to the newly created position of Senior Managing Director and Chief Revenue Officer. 

Dubai International Financial Centre (DIFC), the leading financial hub in the $7.4 trillion Middle East, Africa and South Asia (MEASA) region, signed a Memorandum of Understanding (MoU) with Dubai Islamic Economy Development Centre (DIEDC), as part of its commitment to Islamic finance under the DIFC 2024 Strategy and in line with the vision of ‘Dubai: The Capital of Islamic Economy’.

Dream Payments, a leading financial technology (fintech) company that operates a payments cloud to power commerce and payments across mobile devices and the Internet of Things (IoT), proudly announces the opening of its first Centre of Excellence in Moncton, New Brunswick. 

Quark Software Inc. announced today that it has been acquired by Parallax Capital Partners, LLC (Parallax), a Southern California-based software-focused private equity firm. The new owners intend to help Quark accelerate the adoption of its transformational content automation solutions through investment in organic growth and acquisitions.