Tag: HSBC

The past week saw appointments from Tourmaline Partners and BrokerTec, alongside departures from HSBC and RBC.

His departure comes as Edward J Achtner is appointed to lead HSBC's newly consolidated Office of Applied Artificial Intelligence (OAAI).

The parties in question have now been invited to make representations to the Competition and Markets Authority (CMA) before a final ruling is made.

New service is available via HSBC’s execution platform Evolve, third-party platforms or directly through an API.

New programme initially launches with a Northbound channel, offering Hong Kong and international investors access to Mainland China’s interbank interest rate swap markets.

Artificial intelligence and machine learning will play a role in the future of the trading desk, but experts put the brakes on a broad application, citing concerns around potential misuse, explainability to stakeholders and appropriate in-house expertise.

Offshore Yuan becomes the fifth currency to be settled between the two banks, with plans for additional currencies to be added in the next few months.

The bank saw reported profit before tax fall $1.6 billion in comparison with the year prior.

Cross-border, cross-CBDC and digital currency, cross-asset, cross ledger, end-to-end securities and foreign exchange transactions successfully executed.

The move marks a change in FX settlements, allowing market participants to significantly reduce their settlement exposure and associated risks.