The widely anticipated new £100 contactless card limit has now been unveiled as part of the 2021 budget for the UK. The new limit is designed in part to be a ‘morale boosting’ break from EU laws, and will be welcomed by many. It would be irresponsible, however, for the UK to get swept up in a show of post-Brexit autonomy and raise the limit without recognising the risks.  

The Derivatives Service Bureau (DSB), founded by the Association of National Numbering Agencies (ANNA), to facilitate the allocation and maintenance of ISINs, CFIs and FISNs for OTC derivatives, today announces that the second Unique Product Identifier (UPI) fee model consultation for 2021 is now open, focusing on the UPI timeline and seeking industry views on services and costs. 

The UPI is designed to facilitate effective aggregation of over-the-counter (OTC) derivatives transaction reports on a global basis. 

Disintermediation. For as long as value chains have existed, shifting marketplace dynamics have left some players cut out of the competitive action. At times slowly, and with the advent of digital, at times overnight. To examine disintermediation, let’s look at a well-known retail brand, one you may guess with the following clues. 

For some time now, challenger banks and innovative technologies have ignited an explosion of digital transformation in the finance sector. However, the most transformative applications of financial technologies – such as decentralised finance (DeFi) within the crypto and blockchain communities – have been viewed as outliers, rather than something traditional banks should adopt.

An Amazon selling support associate was recently arrested by the FBI after issuing more than $90,000 in fraudulent refunds to himself and people he knew. The former Amazon employee used different buyer accounts to purchase electronics and took advantage of his position to issue refunds without returning the products. This is an example of insider fraud.

GNX has appointed Eda Güven as a Chief Procurement Officer. Güven is an industry veteran with 18 years of experience in procurement whereof 15 years  in enterprise data communications. She has an impressive track record in delivering global business growth.

oneZero, a global leader in multi-asset enterprise trading technology solutions, today announced three new post-trade Regulatory Vendors with direct access to oneZero’s Data Source data. 

Commerzbank and the employee representatives have today agreed on a framework settlement of interests and a framework social plan for AG Germany. The binding agreements form the platform for a maximally socially responsible headcount reduction within the framework of the “Strategy 2024” adopted in February. The Bank intends to implement the headcount reduction primarily through retirement arrangements, such as partial retirement or early retirement. As part of this arrangement, the Bank has extended the offer of early retirement to seven years.