HSBC has completed a renminbi (RMB)-denominated trade settlement across six continents, after announcing the completion of its latest deal in Brazil. The landmark transaction was closed for Groupo Tellerina, a retailer of house and decoration products.
Peter Wong, HSBC’s chief executive officer (CEO) for Asia-Pacific, said: “China’s position within the global economy is developing rapidly and its growing influence is undeniable. We estimate that annual trade flows will cross US$2 trillion within five years, easily positioning the RMB as one of the top three currencies used in global trade. As the RMB becomes a major settlement currency, our global connectivity and unrivalled RMB experience provides customers with a significant advantage.”
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more