FIA wants the European Commission to clarify whether temporary post-Brexit equivalence will be granted to only UK central counterparties and central securities depositories or will be extended to include UK trading venues and trade repositories. Without such equivalence, "EU27 firms will not be able to use UK trading venues to meet their mandatory trading obligation for derivatives nor to report new trades to UK trade repositories after 29 March 2019, in a no-deal scenario," according to FIA.
The European Securities and Markets Authority has clarified that investment firms can register as a systematic internalizer in all financial instruments, including those not traded on a trading venue. The change allows SI registration without subjection to transparency obligations under the revised Markets in Financial Instruments Directive.
Creditors including Nasdaq Clearing have reached a deal with Einar Aas, a Norwegian power trader whose default in September forced clearinghouse members to cover about $113 million in losses. Aas will sell assets, and proceeds will be distributed to default-fund participants on a pro rata basis.
UK financial-technology startup Genesis has raised $3 million in a Series A funding round through venture capital firms Illuminate Financial and Tribeca Angels. Genesis, founded by former HSBC bankers Stephen Murphy and James Harrison, was one of 15 participants chosen for the Innovators Pavilion at FIA's Futures and Options Expo.
Automation Anywhere, a robotics process automation startup, has received a $300 million investment from SoftBank. The deal gives the company a $2.6 billion valuation.
IAM Robotics, a startup that develops inventory logistics robots, has raised $20 million in a funding round. The capital will be used to hire employees for sales, marketing and delivery.
Airspace Technologies, a startup that specializes in time-critical deliveries, raised $20 million in its most recent funding round. The capital brings its valuation to approximately $100 million.
Rocket Lab, a New Zealand startup that provides launch services for space vehicles, raised $140 million in its most recent funding round. With the capital, it plans to begin large-scale manufacturing of rockets.
Having raised $62 billion in 480 listings over a nine-month period, the Asian initial public offering market is seeing its formerly sky-high valuations settle to earth. IPOs are being repriced or put on the back burner as the correction takes hold.
Sapho, a startup that develops team micro-apps used by collaboration apps, has been acquired by Citrix for $200 million. Sapho's workforce will be incorporated into Citrix.