VERMEG, a leading provider of Banking, Insurance and Digital solutions, and LiquidShare, an innovative European provider of a blockchain settlement platform, today announced the connectivity of MEGARA© with LiquidShare to seamlessly settle crypto assets using blockchain technology.

The regulated securities custody industry has been receiving increased institutional and client demand to extend the traditional asset custody and servicing to the crypto investment class. As a leading provider of asset custody software to central banks and financial services firms VERMEG has established an A2A connection between VERMEG’s MEGARA© and LiquidShare Platform to allow custodians using MEGARA© to provide custody services of assets issued in LiquidShare. 

This also makes LiquidShare one of the first blockchain platforms offering connectivity to a leading custody platform. 

 “It is my pleasure to announce that MEGARA©, already connected to various blockchain platforms providing custody services for traditional and crypto assets, has added the connectivity and support of full cycle settlement on LiquidShare to its catalog. By connecting both solutions, we offer our clients faster time-to-market capability to extend their services and increase their business. LiquidShare is an important player in blockchain custody, and this partnership will accelerate the adoption by custodians of one single solution to support custody of all types of assets”, said Boujemaa KHALDI, Product Director in VERMEG. 

“The integration of MEGARA© with our platform is an important step in the adoption of LiquidShare as the main provider of blockchain solutions for issuing and settling crypto assets. MEGARA© is a leading solution for custodians and this connectivity will allow its clients immediate access to assets managed in LiquidShare”, said Jean-Marc EYSSAUTIER, LiquidShare’s CEO.

Itas Solutions aiming to revolutionise financial processes via Sage integration and business process automation

Codeless Platforms today revealed that Itas Solutions, a multi-award-winning Platinum Sage Partner, has selected BPA Platform to be the catalyst in its strategic finance transformation initiative which aims to revolutionise its customers’ financial functions. Itas will now be using BPA Platform to integrate Sage products with CRM and eCommerce systems (Magento, Shopify and WooCommerce) and automate numerous business processes to help businesses improve efficiencies, increase productivity and reduce costs.

“The really interesting aspect about finance at the moment is the rising need for automation. However, one of the challenges is that those automation requirements can sometimes be quite unique. Therefore, one of the things I really like about BPA Platform is the range of integration possibilities; it's not just eCommerce or CRM. It's the flexibility that the platform offers that is really exciting, as well as the fact that we're not reliant on heavy coding or development capabilities to be able to achieve that,” explained Hannah Munro, Managing Director, Itas Solutions.

Established in 1995, Itas Solutions is a Sage 200, Sage Intacct and Sage 50 specialist that offers services around these Sage solutions, such as the implementation of software, support, training and consultancy. As part of this process, the company is looking to further enhance its customer offering by providing integration and automation capabilities via BPA Platform.

“I’m quite excited about the fact that I’m not sure any one project is going to be the same. One of the really appealing characteristics of BPA Platform is how we can use it in so many different ways. I’m already talking to customers about Sage integration with CRM systems. We’ve got a number of Salesforce accredited people and we are a HubSpot partner, so we have a particular interest in that area. However, we have a lot of our customers who are in distribution and manufacturing so we’re also looking at eCommerce integration,” said Hannah Munro.

“The interesting thing about eCommerce is that even though everyone’s using the same platforms their integration requirements aren’t always the same. Therefore, the way that we see this product being used is having prebuilt connectors, with the additional ability to build bespoke integrations that are tailored to an individual customer.”

Addressing the ever-changing demands of its customers is paramount for Itas Solutions. With many looking to shift away from admin, improve productivity, acquire better, faster data, as well as enable employees to have a better work-life balance, itas Solutions understands that integration and automation is the solution.

“The problem that we we're looking to solve is how do we connect the dots? How do we feed information directly into a system to remove errors and to reduce the time spent on typing things in? How do we make those users that are already in a business much more valuable in terms of spending time on the elements that matter? It's all about building tailored integration automation solutions,” said Hannah Munro.

“I see a world in the future where finance teams will actually have the capabilities and the skill sets to build this themselves. However, we're starting that process by acting as the consultant to help people establish that scenario. I am really excited to see where this could go over the next few years.”

The political and social climate has changed irrevocably over the past few years, which has made organisations not only reassess how they conduct business, but how they also operate internally.

“A lot of distribution customers have been affected by the recent trade deals because of the increased need for paperwork. It's not just about the paper, it's about that paperwork being correct. They can't run the risk of things going wrong or not having the right information. Therefore, pulling information down automatically and getting that sync working well is really, really important from that perspective. Additionally, the recent pandemic has identified the fact that people want a work life balance. They want to have the flexibility to do other errands when necessary, which means focusing on getting rid of manual admin tasks and making them automated,” said Hannah Munro.

“Businesses are worried about having to increase staff numbers. However, if it's automated, they don't have to worry about that. The other element that they have to worry about is data security. Obviously, people working from home downloading spreadsheets of customer data and then uploading it into another system is not necessarily the best approach. If we can automate those processes, we can therefore reduce the risk of data security. Automation also means that important tasks can occur in the background, giving businesses a bit more flexibility about when and where employees work as well.”

This finance transformation philosophy is central to the ethos and approach that Itas Solutions has adopted, which it discusses and analyses in its CFO 4.0 Podcast: The Future of Finance. 

“In the podcast we talk about people and processes, and how do we get finance into a position where they can do the value-added piece, focusing on the strategy side of finance rather than data entry and administration. We talk with CFOs about everything from the state of the role of the CFO and the interesting technology trends available, such as integration and automation, through to surveys and research reports,” concluded Hannah Munro.

 Binance, the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider has today announced that Beninese-American Hollywood star and model, Djimon Hounsou and famous Nigerian painter, LÁOLÚ will be exhibiting their digital artist series, “Time To Heal”, on the Binance NFT Marketplace. The new collaboration is for Binance Charity’s NFT For Good Campaign, which enables creators to convert their art and creativity into meaningful global action targeting social and humanitarian issues.

Djimon Hounsou who portrayed Korath the Pursuer in Marvel blockbuster movies, Guardians of the Galaxy and Captain Marvel, will be body painted by LÁOLÚ, the Nigerian artist behind the body art in Beyoncé’s Grammy award-winning Lemonade. The abstract image of Djimon will then be projected on a physical canvas and subsequently converted to a digital NFT version. 

The NFT collection, consisting of five unique portraits, will launch on November 10, 2021 and proceeds will be shared between the artists and the Djimon Hounsou Foundation through the Binance Charity. “I feel this compelling need, this inherent obligation to give back to my continent, to my people, and to champion the idea of reconciliation and reconnection.” says Djimon.

LÁOLÚ added: “There is so much we can do when we come together. Through my work, I’ve always sought to connect the world to my Yoruba roots. With this project, we’re doing that on a large scale by sharing not only our own stories but that of the diaspora within the digital landscape.” 

On November 9, 2021, Djimon and LÁOLÚ will also join Binance for a live ‘Ask Me Anything’ chat on Binance YouTube, discussing NFTs, their entrance into the crypto and blockchain space and how NFTs can impact African artists. 

Join HERE

Emmanuel Babalola, Director at Binance Africa, said: “We are especially excited to host creators of African descent as we see the profound opportunity NFTs and the blockchain bring to the entire continent. As NFTs transform the digital art world, it is important that African creators are provided an even larger platform with optimal solutions to reach a more global audience”.

“Nearly 4 times as many people live in modern-day slavery than during the Transatlantic Slave Trade. We know blockchain is a powerful tool that can be used to help tackle complex and horrific social issues - such as this - from tackling corruption to increasing transparency to promoting financial freedom to providing new fundraising streams such as the recent NFT boom. Cross-industry collaborations such as this one between Djimon, his foundation, Láolú and Binance are essential to help harness this potential and drive forward blockchain for good.” comments Helen Hai, Head of Binance Charity and Binance NFT. 

Binance NFT is an established brand within the crypto community. In just a little over a month after its debut, Binance NFT became one of the fastest-growing NFT platforms in the world, generating 25 million BUSD in sales, selling over 300,000 mystery boxes and onboarding 400 creators globally. Today, Binance NFT has sold over 900,000 mystery boxes and earned 103+ million BUSD in sales in total since launch.

The Binance NFT Marketplace shares the same account system as Binance.com. Existing Binance users are able to access the NFT marketplace and trade with their current Binance accounts. New users simply have to register on Binance.com to create or trade on the Binance NFT platform. Binance NFT has also added multi-chain support for NFT deposits and withdrawals. Users can now transfer their NFTs to and from Binance Smart Chain and Ethereum networks with ease. 

 CQG, a leading global provider of high-performance technology solutions for traders, brokers, commercial hedgers, and exchanges, today announced the launch of a comprehensive suite of exclusive execution technologies designed to give market participants new tools to achieve greater efficiencies and optimal trade execution, particularly for large or complex order types.

The new initiative builds an entire suite of functionality off of the infrastructure of cutting-edge software assets CQG acquired from Blue Trading Systems (BTS) in June 2020. It also leverages technology CQG has been developing in recent years – all aimed at providing smart trade execution opportunities for buy-side and sell-side firms that can improve pricing, provide increased visibility of aggregating different markets, and enable large global firms to efficiently match client orders in a regulatory-compliant fashion. CQG Vice President of Execution Technologies Kevin Darby, formerly co-founder of BTS who joined CQG last year to lead the integration of the software, is leading the new Execution Technologies business unit.

CQG President Ryan Moroney said: “We’re really excited to bring this new offering to market this week, based on an effort that has been years in the making. The Execution Technologies suite gives buy-side institutions such as hedge funds, large insurance companies, and commercial hedging operations that utilize the industry’s biggest banks and brokerage firms the ability to execute large, complex orders as efficiently as if they were trading a handful of contracts. We have also further strengthened capabilities for the professional trading community reflecting the myriad sophisticated order types they want to employ.”

The offering is available through multiple platforms, including CQG Integrated Client, CQG Desktop and various CQG-supported application programming interfaces (APIs). The suite includes numerous components now available to all interested clients, including:

• CQG Algos – A comprehensive set of pre-built algorithmic order types, employing a co-located low latency trading engine, for optimal server-side execution of Arrival Price, VWAP (volume-weighted average price), TWAP (time-weighted average price) and other algorithms. Each algorithm is built to track or beat benchmarks with specific implementations dedicated to in-depth analysis of microstructure, resulting in more passive order fills;
• Custom Algo SDK – A software development kit allowing users to mix and match CQG Algos with their own custom C++ algorithms, minimizing development and testing cycles;
• Algo API – A client-side interface used to control and compose server-side algorithms running inside of Custom Algo SDK, coupled with an evolving set of back-testing and analysis tools;
• AlgoAnalytics – An augmented transaction cost analysis (TCA) tool that provides a transparent view into the core value proposition of the offering, with benchmark and micro-structure analysis;
• Internalization Engine that allows large banks and brokerage firms to match orders from different clients internally, giving them cross-trade opportunities that reduce exchange fees and compliance risk, and providing a file or audit records of internalized orders to post to back-office systems;
• Server-side Aggregation that provides a pooled liquidity view of cross-listed, fungible assets while allowing smart order routing into the constituents of the pool, according to user preferences.

Also in the works are new components slated for introduction later this year and in 2022, including:

• Additional algorithmic order types for multi-leg futures trading and a suite of options algorithms;
• CQG Spreader 2.0 – a sophisticated new version of the firm’s existing functionality, which will include new low latency spread routing, with considerably faster execution times that allow users to employ their existing CQG Spreader interface.

Darby said: “Our core technology for CQG Algos facilitates ultra-low latency access to markets with an emphasis on strong, lightning-fast analytics, as well as flexible, reliable algorithms. Through novel implementation of order types, we’re able to deliver high-quality fills with the goal of reducing implicit trading costs and market impact involved in accumulating a listed derivatives position for buy-side firms. The SDK allows us to partner with long-time clients like proprietary trading groups for high-value trading strategies, while respecting the sanctity of their intellectual property.”

Raisin DS turns Raisin Bank into one of the first German cloud banks. Mambu’s flexible technology strengthens Raisin Bank’s position as a BaaS provider for fintechs.

Raisin Bank, the company-owned servicing bank of fintech Raisin DS, has publicly launched its Banking-as-a-Service (BaaS) offering using Mambu's SaaS cloud banking platform. All of Raisin Bank’s existing customers have been migrated to the Mambu platform and can now leverage state-of-the-art digital solutions for business models that require a banking licence. 

This move makes Raisin Bank, which was founded in 1973, one of the first German cloud banks. Since its acquisition by Raisin DS in 2019, the bank has focused on offering the most advanced digital solutions in account management, payments and lending for financial vendors and start-ups. In the last two years Raisin Bank has established itself as a leading European BaaS provider, with a German banking license passported in every country in the European Union.

Andreas Wolf, Chief Commercial Officer at Raisin Bank, explains, "Migrating all of our services to Mambu’s platform enables us to add real value to our many partners and clients as well as to Raisin DS. For our continued growth as a Banking-as-a-Service provider, we now have one of the most modern and agile IT platforms among European banks. With Mambu, we have multiplied the speed with which we can scale processes and develop new applications. This step positions us to meet the rapidly increasing demand for digital banking solutions."

Mambu’s SaaS banking platform offers maximum flexibility and speed, enabling financial institutions to rapidly configure and deploy new products, giving them a unique competitive edge.

By building with Mambu, Raisin Bank has the flexibility to swap out components as required, avoiding vendor lock-in and wholesale re-platforming. The bank has additionally created its own architecture on top of Mambu, developing interfaces for embedded banking solutions and automating previously complex processes for more efficient customer onboarding, credit decisions, repayments and real-time notifications.

Raisin Bank offers BaaS products for platforms and ecosystems, and utilizes these within Raisin DS itself for all banking operations. This means that customers profit directly from the improvements of the Raisin DS integration. With Mambu, the bank has future-proofed its IT stack. As an API-first and cloud-native platform, Mambu aligns with Raisin Bank's customer-first philosophy, empowering the bank to create transparent, real-time customer experiences for their partners' business models. All of Mambu’s core banking processes and interfaces are cloud-based, allowing Raisin Bank’s customers to innovate and integrate services faster in a low-maintenance set-up. 

Eelco-Jan Boonstra, Managing Director EMEA at Mambu, added, “The future of modern servicing banks lies entirely in the cloud. Building a licensed BaaS offering and migrating all customers is a fantastic achievement and we are proud to have supported Raisin Bank in becoming one of the first cloud banks in Germany. Their customers and partners now benefit from innovation, security, and resilience of the platform, all at scale. We know this is just the beginning for the Raisin Bank team and are looking forward to being part of their story as they keep revolutionising banking services across Europe.”

Distribution Opens to Global Clients of Charles Schwab Futures and Forex LLC, E*TRADE; Hudson River Trading Commits as a Lead Market Maker

FairX, the new regulated futures exchange built for the active retail trader, today announced it is positioned for significant growth, as industry-leading firms including Charles Schwab Futures and Forex LLC as well as E*TRADE have completed certification, opening up distribution to the respective firms’ global clients. The new client access comes as FairX volume consistently reaches highs, with average daily volume growing 33% week-over-over week since launch in June.

Also poised to play a role in the exchange’s growth is Hudson River Trading, a leading global market maker and liquidity provider, which has committed to provide streaming around-the-clock quotes for FairX products, joining Virtu Financial and XTX Markets, which have served as FairX Lead Market Makers since launch. 

“We’re thrilled that clients of Charles Schwab Futures and Forex LLC and E*TRADE – two of the largest, most recognizable retail brokerage firms in the industry – can now trade FairX products that meet the needs of today’s active individual investor,” said Neal Brady, CEO at FairX. “And to have Hudson River Trading join as an additional Lead Market Maker will further deepen the exchange’s around-the-clock liquidity, providing new and dramatically lower-cost trading opportunities for the retail trader.”

“We continue to see demand from retail traders and investors to access futures markets, and we are excited to offer access to FairX as another destination for our clients choosing to utilize futures in their overall portfolios,” said J.B. Mackenzie, Managing Director at Charles Schwab Futures and Forex LLC.

“E*TRADE is pleased to open up distribution to our clients as FairX’s offering aligns with our mission to empower retail traders with the tools and service they need to make futures part of their portfolio,” said Dan Ryba, Executive Director at E*TRADE.

Charles Schwab Futures and Forex LLC and E*TRADE join a rapidly expanding distribution network of retail-focused brokers and vendors offering access to FairX futures, including Tradovate, Ironbeam, Stage 5, EdgeClear, Bookmap, CQG, Rithmic, Sierra Chart, TradingView and dxFeed.

Last week, FairX launched Micro Crude Oil Futures (OIL), representing the most cost-effective way for active retail traders to trade and hedge the price of crude oil. OIL is now listed alongside FairX futures on the Bloomberg US Large Cap Index, tracking the largest 500 companies by market cap, and on the SuperTech Index, tracking 15 of the largest and most actively traded companies engaged in high-growth technology, media and manufacturing industries. Both FairX products are offered in Nano and Micro sizes.

• MBO at Suffolk tech distributor following record year of 30% revenue growth
• Business targets further revenue growth with plans to expand its product range and training programmes
• Shawbrook Bank supports investment house with £2 million loan to support buyout

A Suffolk technology consultancy and distributor has been acquired by Merino Private Equity, after growing revenues by 30% during the pandemic, with support from Shawbrook Bank.

Multithread Consultants’ management now aim to drive further growth following the management buyout (MBO) with investment from Merino Private Equity.

The company provides consultancy for, and distribution of, wireless networking products. Its strong team includes software designers and developers, with network and wireless specialist advisers.

Nick Shore has been appointed Managing Director after 20 years within Multithread Consultants, most recently as Chief Technology Officer.

Nick said: “New standards of connectivity mean businesses can enhance their IT network infrastructure with wireless solutions.

“This creates an opportunity for us and our installer partners to work with organisations and help them facilitate the new hybrid ways of working that have emerged in the last two years, and to build on the success we’ve already had helping organisations to adapt their infrastructure to meet new requirements.

“The addition of Merino will help us as we target growth from these opportunities. And the quick decision making of Shawbrook Bank ensured a swift completion of this deal, helping us to focus on growing the business with the support of our new owners.”

Oliver Sutton, relationship director at Shawbrook Bank, said: “The case to back this change of ownership was exceptionally strong. The longstanding expertise of Nick and his team positions the business well for tapping into a booming market buoyed by changing working patterns and new technologies.

“We’re also well aware of Merino’s track record of supporting its portfolio companies to scale-up their operations from past deals we’ve supported them with.

“We worked closely with the Multithread Consultants team to understand its business model and working capital cycle, ensuring that we provided the new owners with a finance package with terms that will help to enable its growth.”

Jack Kinnersley, investment director at Merino Private Equity LLP, said: “We are thrilled to have completed the MBO of Multithread Consultants, and particularly to partner with Nick and the wider team. The business has built a great reputation off the back of high service levels and a compelling product range. Shawbrook Bank has been a valued partner throughout this deal, which is made possible thanks to its team’s fast and considered approach to funding.”