The latest issue of Financial Standard now available as an e-newspaper
| | THURSDAY, 6 AUG 2020 12:17PMThe ASX is now reviewing market recommendations on the new system to replace CHESS, following the conclusion of a four-week consultation period ending July 28.|
|Chi-X TraCRs and funds will now be offered on a privately owned wealth management platform, granting financial advisers and their clients access to some of the world's biggest listed companies.|
|ASX-listed trading platform SelfWealth has renewed its clearing, settlement and execution (CS&E) mandate with retail broker OpenMarkets, in a move that it says demonstrates the two fintech's shared objective of disrupting the status quo.|
|Powerwrap has released its target statement recommending its shareholders accept the off-market takeover offer moves forward with Praemium.|
|Global index provider MSCI has formed a strategic alliance with Microsoft to shift its products, data and services onto the cloud, in a move that the duo says will accelerate innovation among the global investment industry.|
|The former head of Westpac's private banking business has brought a Belgium-based robo-adviser down under, and says industry super funds, major banks, broker businesses and dealer groups are already knocking at the door.|
|Class has completed its integration with Iress' financial software solution Xplan, with the offering now available for new Class Super and Class Portfolio customers as a public pilot.|
|Amazon founder Jeff Bezos added US$13 billion to his net worth in a single day marking the largest single day jump for an individual, according to the Bloomberg Billionaires Index.|
|Both platform businesses finished FY20 with strong inflows, but Netwealth is overvalued while HUB24 offers a superior growth rate, says Ord Minnett.|
|Funds administration services provider Mainstream Group Holdings saw its funds under custody increase 79% during the June quarter, with net funds increasing by 36 compared to March 2020.|
There is a good chance the planned superannuation guarantee increase to 12% will be deferred again as the nation continues to struggle with the effects of COVID-19, according to Mercer senior partner David Knox.
BetaShares' ETF that tracks crude oil futures is once again changing the length of contracts it tracks and is taking extra measures to automatically convert the ETF to all cash if oil futures drop significantly again.
The global fund manager saw its profits tumble 196% following net outflows of close to $19 billion in the first half of this year, resulting in heavy hits to fee and commission income.
Chi-X TraCRs and funds will now be offered on a privately owned wealth management platform, granting financial advisers and their clients access to some of the world's biggest listed companies.
|Brought to you by|
|Keep up to date, don't be the last to know! Get the Financial Standard Daily Newsletter.|