OTC Markets Group, which operates regulated financial markets for 12,000 United States and global securities, has introduced OTC Overnight, making OTC equity securities available for trading Sunday through Thursday between 8pm and 4am (US Eastern time).
Active securities across the OTC market tiers, including global brands like Roche, Adidas, Air Canada and Techtronic Industries, will be eligible for trading in an overnight session by broker-dealer subscribers in US dollars.
Executive Vice President of Market Data, Matt Fuchs said he expected that OTC Overnight would be available in the second quarter of this year.
“This will allow investors to track and trade thousands of global equity securities during Asian market hours, as European markets open, and overnight in the US,” Mr Fuchs (pictured) said.
“Overnight trading will significantly expand accessibility and comprehensive market data coverage for the OTC markets. As more clients connect to the platform and demand for overnight trading grows, OTC Markets Group plans to expand the offering to additional securities within its network.”
He said the company continued to actively take steps to establish itself as a global market that met the needs of investors, broker-dealers and issuers at all levels.
“We have seen an increased demand from investors, broker-dealers, and other market participants looking to access the largest financial centre in the world in their respective time zones,” Mr Fuchs said.
“We are uniquely positioned to make this possible and create new levels of opportunity for thousands of global equities.”
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Partnership boosts disability accommodation
Australian ethical finance brokerage firm, Mountain Assets is collaborating with the Sumo National Disability Insurance Scheme fund to launch a project aimed at significantly enhancing the Specialist Disability Accommodation (SDA) sector in South-East Melbourne.
Spokesperson for Sumo, Simon Robinson said the initiative underscored a strategic endeavour to address the growing demand for high-quality, accessible housing for individuals with disabilities.
“It represents a strategic investment in two state-of-the-art SDA-compliant homes at 46 Clarendon Street, Cranbourne, with each home designed to foster independence and community integration for residents requiring high physical support,” Mr Robinson said.
“Mountain Assets will play a crucial role as the exclusive offer manager and sales team, bringing its extensive experience and commitment to ethical investment practices to ensure the project's success.”
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New metal printer speeds replacement parts
Metal additive manufacturing company, SPEE3D has announced the launch of its Expeditionary Manufacturing Unit (EMU), an on-site mobile additive manufacturing solution.
SPEE3D’s EMU enables the replacement of metal parts in hours instead of days or weeks, minimising the cost of disruption and downtime.
Unlike other additive manufacturing solutions, the EMU does not require dangerous and expensive lasers or inert gasses. Additionally, no extensive prior expertise with additive manufacturing technology is required.
Chief Executive of SPEE3D, Byron Kennedy said the launch of the EMU addressed the current state of the global supply chain, which was fragile and increasingly under pressure.
“The EMU will enable the British Army and others to take control, giving them the ability to print and post-process parts very quickly from anywhere," Mr Kennedy said.
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Deriv backs
micro-plastic research team
Malaysian online trader Deriv is making its 25th anniversary with a series of initiatives through the Kahuna Sponsorship, supporting scientific research and community projects that provide educational value and inspire positive action towards protecting the environment.
Deriv has sponsored a Kahuna team to carry out an environmental research expedition in Patagonia that aims to investigate the presence of micro-plastics and black carbon in the snow — substances that are critical indicators of environmental pollution affecting climate change.
Chief Human Resources Officer at Deriv, Seema Hallon said investing in meaningful projects such as the Kahuna expedition was the company’s way of contributing to a sustainable future for the planet and its communities.
Team member, Robin Villard said the samples collected were in good condition and were currently being analysed.
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Banle announces African expansion
Maritime fuel logistics company, Banle Energy International Limited has announced its expansion into Mauritius, marking the company’s first foray into the African continent.
Chief Executive, Teck Lim Chia, said the move marked an expansion into a new continent and underscored Banle’s commitment to enhancing its regional presence and accelerating its growth trajectory.
“Port Louis, where the bunkering service was arranged, serves as a crucial gateway for trade and commerce in Mauritius,” Mr Chia said.
“It plays a crucial role in handling a substantial portion of the country’s imports and exports, facilitating both domestic and international trade connections with various destinations across the globe.”
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Saudi capital market enters big league
Chair of the Capital Market Authority of Saudi Arabia, Mohammed Bin Abdullah El Kuwaiz says the Saudi capital market continues to make progress and is now among the top 10 largest markets in the world.
“In addition, the market is ranked the eighth largest as of market capitalisation, moving from 23rd in 2017,” Mr El Kuwaiz said. “The economic and social reforms that the Kingdom began in 2017 contributed to reducin impact of global fluctuations, including interest rates.”
He said Saudi Arabia's GDP had almost doubled during the past three yearsand now exceeded $US1 trillion ($A1.5 trillion). For the first time in the country's history non-oil GDP had risen to be equal of that from oil
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Delmar acquires Dutch freight forwarder
Canadian-based logistics and supply chain solutions company, Delmar International Inc. has completed the acquisition of freight forwarder, Intervracht Nederland BV.
Situated roughly an hour's drive from both Rotterdam and Amsterdam, Intervracht will serve as a strategic new global logistics and distribution hub for the Delmar Group.
Managing Director of Intervracht, Jörg Töpfer said the acquisition would leverage Delmar's technology with Intervracht’s global network and expertise.
“This has already started to benefit our clients, employees and stakeholders and we have identified, and are working on many more synergies as we speak," Mr Töpfer said.
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Bombardier opens Monaco shopfront
Aircraft manufacturer, Bombardier has opened an Aviator Lounge at the Monaco Yacht Club where prospective purchasers can learn about Bombardier’s aircraft, legacy, and innovations.
Vice President of International Sales for Bombardier, Emmanuel Bornand said the Aviator Lounge was a unique meeting place.
“Thanks to its location, it symbolises the meeting of the land, the sea and the air. Most importantly, it provides a welcoming place for us to meet with anyone who wants to stop by to learn about Bombardier’s ground-breaking research in sustainability,” Mr Bornand said.
“The Aviator Lounge was conceived by Paris-based architect, Andrea Mosca. Working from a blank canvas, he conceptualised an inviting space centred on Bombardier’s core value — the importance of authentic, personal, family-like relationships.”
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MoneyHero names new CFO
Personal finance and digital insurance company, MoneyHero has appointed Hao Qian as Chief Financial Officer.
Reporting directly to Chief Executive, Rohith Murthy, Mr Qian will be based at MoneyHero’s headquarters in Singapore.
The 17-year financial veteran will oversee all the company’s financial systems and teams, including accounting, capital markets, compliance, and investor relations.
Additionally, Mr Qian will play a key role in strategic finance initiatives, including mergers and acquisitions and commercial partnerships.
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