FinClear is a technology and financial market infrastructure company. In addition to operating its own HIN platform, FinClear enables wealth and stockbroking entities through the provision of platform technology solutions and market access. FinClear either directly trades, clears and settles or provides technology that services more than 50% of all retail equity transactions every day in Australia. The FinClear Group is Australia’s leading independent technology and infrastructure provider for financial markets both listed and private. Beginning in 2015 with FinClear, we have now grown and expanded to become the FinClear Group. Making up the group is three diverse brands with their own unique offerings being FinClear, FCX and Transact1.
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Ahead of the ASX’s response to ASIC’s case that the industry was misled around CHESS replacement, Joyce Moullakis and David R. Ross lay out the whole story in The Australian from 2016 to today. ? In addition to direct costs to the industry, a major concern is the opportunity cost and consequences of delaying an update, with Australia lagging further and further behind. ? The technology already exists - FCX uses the same Digital Asset DAML that could have worked for CHESS.
FinClear转发了
RBA voted against a rate cut last week, but banks are starting to cut theirs anyway ahead of an expected drop to 3.6% over the next year. ? For investors with any allocation to cash, this is a great time to consider whether yours is working as hard for you as it should be. ? FinClear’s transact1 Wealth Cash Income Fund has consistently generated outsized returns, while offering monthly income, liquidity, and doing the work for you in an opaque asset class. ? That’s because it automates finding the daily best rates across a panel of term deposits. ? Image from Jonathan Barrett’s The Guardian article on cash rate expectations: https://lnkd.in/g26qMKPq
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65% of market participants plan to use non-central bank digital currency by 2026 (13% more than last year). (Citi’s Securities Services Evolution 2024) ? DLT and the use of tokenised money and assets is on the rise. ? Okan Pekin said “The significant potential for tokenisation to scale will continue to transform the securities landscape”. I couldn’t agree more, except it will go beyond securities with applications across all financial infrastructure. ? Citi found that APAC and Europe are leading the charge on DLT, but the licensing of FCX last week puts Australia back up there with the leaders.
We have recently launched our 2024 Securities Services Evolution whitepaper, exploring what is most topical and relevant in today’s industry. Polling close to 500 market participants, the whitepaper features insights on accelerated settlements, the adoption of digital assets and shifting preferences in the use of digital money for securities settlements. As the worlds of digital and traditional assets increasingly converge, the whitepaper also captures the views of 14 financial market infrastructures from across the world and how they see these developments unfolding. To learn more, download our Securities Services Evolution whitepaper here: https://lnkd.in/e4EF8tuk
FinClear转发了
A global first and historic moment introducing competition to clearing and settling, and the world’s first regulated DLT private market. ? FCX’s license from ASIC and Reserve Bank of Australia is a huge moment in many ways. It was great to speak to Edward Boyd of Sky News Australia on what this means for Australia’s financial landscape, CHESS, and investors.
The Treasurer, on the importance of?FCX's licensing and entry as a new provider, boosting financial market competition: “By making our markets more modern, we will make our economy more productive, competitive and dynamic. Our reforms are all about ensuring we have a competitive financial system that works for consumers, businesses and investors…The emergence of a new provider of clearing and settlement services [helps] make our economy more competitive and our financial system stronger.” - The Hon Dr Jim Chalmers MP and The Hon Stephen Jones MP
ASIC and Reserve Bank of Australia?have taken the first step to promoting competition in clearing and settlement of securities by awarding FCX world-leading market licenses. ? The licences enable the FCX Market to trade securities in private and unlisted public companies and interests in managed investment schemes, creating the world’s only distributed ledger-enabled, fully regulated private market. ? This means the world's first integrated and regulated ecosystem for liquidity on demand, able to take companies from early to mid stage and onto a mature public listing. Read full announcement here https://lnkd.in/enfs4_ih or watch David Ferrall speak to Juliette Saly for ausbiz:
Historic news this morning as we share that new licences from ASIC and the Reserve Bank of Australia make FCX the only operator other than ASX to have complete market and clearing and settlement capabilities - the first and only fully licensed alternative to ASX Clear and CHESS in Australia. As James Eyers has written for The Australian Financial Review, "FinClear has created FCX as private markets rise in prominence...The arrival of FCX comes after the chief executive of Apollo Global Management, Marc Rowan, said last week that private capital was the fastest-growing sector of the finance industry." “Australia has gone from a laggard in financial market infrastructure to absolutely at the head of the pack,” David Ferrall told him. FCX uses Digital Asset’s DAML smart contract language for better transparency, accuracy, security, and reduced settlement burdens.
Cash is one of the biggest asset classes (in the average HNW portfolio). ? And it’s the most ignored. ? Does that seem right to you? ? Learn more:?https://lnkd.in/e_rDXZjE
Recognition is growing for the potential of tokenised products to reshape the investment landscape. As Aus grapples ASX’s CHESS replacement delays, FCX could serve as a blueprint for modernising our financial infrastructure.?
While the debate over CHESS replacement continues, global financial institutions are charging ahead with new technologies. The integration of Distributed Ledger Technology (DLT) into financial markets has progressed far beyond the Proof-of-Concept stage. Leading institutions like Broadridge and J.P. Morgan have already embedded #DLT into their core operations, marking a significant shift in how financial transactions are executed. FinClear's David Ferrall discusses. https://lnkd.in/ghay-xjn
Term deposit rates have taken a dive, and there's likely more to come - bad news if you have anything allocated to cash. The good news is, you can let the specialists hunt out the best rates for you, without sacrificing liquidity and with better visibility over where your cash is sitting and what it's earning. Understand more in our Stockbrokers and Investment Advisers Association article: https://lnkd.in/e_rDXZjE