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TACOs are back on the menu
Market response
In terms of where we are in the markets this morning, US Stock benchmarks ended Wednesday on a strong footing, echoing relief over the tariff reprieve for the eight European nations initially targeted. The S&P 500 advanced 78 points (1.2%) to 6,875, the Nasdaq 100 added 339 points (1.4%) to 25,326, with the Dow Jones climbing 588 points (1.2%) to 49,077. Both European and US equity index futures are also pointing to higher markets at respective cash opens this morning.
From Tokyo, JGB yields eased from their record highs across longer-dated bonds, further calming market nerves. The USD/JPY, however, continues to fluctuate around ¥158.00, largely undeterred by recent verbal intervention. USD/JPY resistance remains in play at current levels, with a break north potentially unearthing a move to as far as ¥160.00. The question is whether the BoJ intervenes in this region.
Also noteworthy is that the risk-on rally and positive December jobs data from Australia aided a solid bid in the AUD this morning versus G10 peers. Unemployment cooled to 4.1% from 4.3% in November, with about 65,000 new jobs created versus around 30,000 forecasted. Along with a robust rally in the AUD overnight, a hawkish repricing in the RBA cash rate unfolded, suggesting a 60% probability for a hike at next month’s meeting.
Day ahead will focus on US PCE numbers
While attention will remain on discussions regarding Greenland, and with Aussie jobs data in the rear-view mirror, today’s macro focus is on the final estimate for Q3 25 US GDP at 1:30 pm GMT, initial jobless claims for the week ending 17 January also at 1:30 pm, and the November PCE inflation numbers at 3:00 pm. Additionally, the Q4 25 New Zealand CPI inflation figures will land later at 9:45 pm.
Ultimately, I believe that the PCE report will dominate the headlines today. As shown from the LSEG economic calendar below, price pressures are expected to remain steady at 2.8% for the YY core measure, while decelerating modestly for the headline YY print at 2.7% (from 2.8% in October). This is a pace I would describe as sticky and reinforces the Fed’s wait-and-see stance to ease policy. Note that the Fed projects only one rate cut this year, while markets are still betting on two, with the first expected either in June or July’s meeting, with another likely in Q4. Of course, an upside surprise in the inflation data today – I would want to see around 2.9% or 3.0% – would likely trigger a USD bid as traders potentially price out some of the Fed rate-cut easing. Conversely, anything around the 2.6% mark today would have the opposite effect and bring April’s meeting firmly to the table for the first rate cut.
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iSAM Strengthens UK Footprint With Move to New London Headquarters
iSAM has expanded its UK presence with the relocation of its London headquarters to a new site on Leadenhall Street, marking the latest phase of the company’s global growth strategy.
The move follows a year of rapid international expansion that included opening an office in Cyprus in May and relocating to a larger Hong Kong site in June.
The group comprises iSAM Funds, a $6.5bn alternative asset manager specialising in systematic investing, and iSAM Securities, an algorithmic trading, market-making and technology provider.
The relocation comes amid significant investment in talent, infrastructure and product development across both businesses.
Recent initiatives from iSAM Securities include the launch of Radar Surge, an intelligent book and execution optimisation platform; Parallax, a transparent risk-sharing model; and expanded market-making capabilities designed to serve a broader institutional client base.
Neill Burger of iSAM said the headquarters move reflects the firm’s “progress” and “scale of our ambitions,” adding that the group is focused on building “the ultimate algorithmic trading company.”
He said the expansion is aligned with rising global demand and the need to enhance capabilities as the client base grows and diversifies.
Burger added that iSAM remains committed to identifying market opportunities, investing in skilled personnel and developing robust, fast-execution solutions.
“Their success is intrinsically linked to our own,” he said, describing the new London headquarters as an important milestone in the company’s ongoing growth trajectory.
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Euronext Corporate Solutions and Inderes Launch Partnership to Support Swedish SMEs
Euronext Corporate Solutions and Inderes have entered a new partnership aimed at simplifying regulatory and investor communication processes for Swedish listed companies, particularly small and medium-sized enterprises.
The collaboration introduces a suite of digital tools intended to reduce administrative burdens and support companies throughout their public-market lifecycle.
The tools will help issuers manage regulatory disclosures, press release distribution, investor engagement and compliance tasks more efficiently. Both firms said the goal is to free up internal resources so companies can focus more on growth, innovation and accessing public funding.
Inderes CEO Mikael Rautanen said the partnership is designed to help remove obstacles that deter Swedish growth companies from going public.
“Our shared goal with Euronext Corporate Solutions is to make public ownership as straightforward as possible,” he said. Rautanen added that by lowering barriers to entry, more companies will be able to take advantage of the capital markets’ “growth potential.”
Julien Tessier, CEO of Euronext Corporate Solutions, said the initiative provides a coordinated framework for SMEs seeking to meet listing requirements and communicate with investors. He noted that the company brings long-standing expertise in governance, compliance and investor relations across Europe.
The partnership is intended to support a more efficient public-markets ecosystem in Sweden, where smaller issuers often face resource constraints when navigating regulatory processes.
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Inyova SICAV Becomes Latest ETF Issuer on SIX Swiss Exchange
Inyova SICAV has joined SIX Swiss Exchange as a new issuer of exchange-traded funds, listing its first product as the platform expands access to actively managed, sustainability-focused strategies.
The Inyova Impact Investing Active Equity Fund EUR UCITS ETF, tradable in Swiss francs, targets companies whose products and services contribute to sustainable development while generating measurable environmental and social impact.
The actively managed fund invests globally across themes including renewable energy, electromobility, medical technology, gender equality and human rights.
Inyova said the ETF is designed to move beyond thematic exposure by emphasising active ownership and quantifiable impact objectives, aiming to create long-term value for investors.
SIX said the launch strengthens its range of impact-oriented and actively managed ETFs. Inyova becomes the first new ETF issuer to join the exchange in 2026, following a record 2025 that saw more than 300 new products listed and seven issuers added.
SIX now hosts 36 ETF providers offering over 2,100 products.
Ultumus, a SIX company, is providing operational infrastructure support for the new ETF.
Dr Tillmann Lang, chairman and co-founder of Inyova, said the launch “enable[s] investors to pursue their financial goals while achieving sustainability impact and staying fully aligned with their values,” adding that the ETF offers a diversified, research-driven portfolio of companies driving positive outcomes.
Danielle Reischuk, senior ETFs and ETPs sales manager at SIX Swiss Exchange, said the listing “enriches the spectrum of sustainability-oriented investment solutions” on the marketplace and reflects the exchange’s commitment to supporting innovative issuers.
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MIAX Sells Majority Stake in MIAXdx to Robinhood–Susquehanna Venture
Miami International Holdings (MIAX) has completed the sale of 90 percent of MIAX Derivatives Exchange (MIAXdx) to a joint venture formed by Robinhood Markets and Susquehanna International Group.
MIAX retains a 10 percent stake in the platform, which is regulated by the Commodity Futures Trading Commission as both a Designated Contract Market and Derivatives Clearing Organisation.
MIAXdx is authorised to list and clear fully collateralised futures, options on futures and swaps. The company said the sale aligns with its strategy of partnering with industry leaders while enabling MIAX to concentrate on organic growth across its core exchange businesses.
Thomas Gallagher, Chairman and CEO of MIAX, said the sale “reaffirms our strategy of partnering with industry leaders to accelerate our growth strategies”, adding that the retained stake gives MIAX exposure to the expanding prediction market sector.
He believes the deal “unlocks significant value” for shareholders while positioning MIAXdx for long-term success under its new ownership structure.
Robinhood said acquiring MIAXdx strengthens its push into prediction markets and enhances its futures and derivatives capabilities.
JB Mackenzie, VP and GM of Futures and International at Robinhood, stated that the purchase “accelerates our investment in the prediction markets and improves our position to deliver a better experience for customers”.
The companies said they expect to explore further collaboration opportunities as the market for event-based and derivative products continues to grow.
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Barclays to Shift European Headquarters From Dublin to Paris
Barclays Europe has begun the formal process to relocate its European headquarters from Dublin to Paris, following a review that the bank said highlighted the strategic advantages of situating leadership closer to its Continental investment banking operations.
The lender, which operates in the region through Barclays Bank Ireland, said its business in Continental Europe is making an increasingly important contribution to the wider group.
It added that moving the headquarters would improve oversight and governance, while supporting the growth of its investment banking franchise.
Barclays stressed that it remains committed to Ireland, where its Corporate Banking and Private Bank units will continue to operate with Dublin-based client and operational teams.
Francesco Ceccato, CEO of Barclays Europe, said the headquarters shift represented “a strategic milestone that will enhance our ability to serve clients across Continental Europe while reinforcing our commitment to strong governance”.
He added that internal discussions had confirmed that the relocation was “the right step forward”.
The bank is seeking regulatory approval to convert Barclays Europe into a Societas Europaea (SE). Once completed, the entity will be renamed Barclays Europe SE, with the legal transition expected by the end of 2026.
The headquarters move to Paris is planned for the first half of 2027, subject to regulatory sign-off.
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Fiserv and Sumitomo Mitsui to Roll Out Clover Payments Platform Across Japan
Fiserv has announced a strategic partnership with Sumitomo Mitsui Card Company (SMCC) to introduce its Clover payments and business management platform to millions of small businesses across Japan.
The agreement marks an expansion of Fiserv’s Asia-Pacific presence and aims to accelerate the country’s shift toward cashless commerce.
The Clover suite, expected to launch in late 2026, will be customised for Japan’s retail, hospitality and professional services sectors.
The companies said the platform will support multistore operations, smartphone-based tools and centralised management dashboards, helping small businesses modernise their workflows and adopt digital payments more efficiently.
Japan is targeting a cashless payments rate of 65 percent by 2030, and Fiserv said Clover could play a meaningful role in supporting that national objective.
Mike Lyons, CEO of Fiserv, said the partnership would “empower small businesses in Japan with technology that simplifies operations and fuels growth” while extending the company’s international reach.
Yukihiko Onishi, President and CEO of SMCC, believes the combination of Fiserv’s technology and SMCC’s expertise in advancing Japan’s cashless economy would “create new opportunities for growth and success for businesses.”
Fiserv has been expanding Clover globally, with recent launches in Brazil and Australia.
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Clearstream Joins LPEA to Deepen Role in Private Markets Ecosystem
Clearstream has joined the Luxembourg Private Equity & Venture Capital Association (LPEA) as it seeks to strengthen its position in Europe’s private markets infrastructure sector.
The company said the membership supports its long-term strategy to advance private market development in Luxembourg and across the region.
Clearstream services more than EUR 340 billion in private assets and has built a decade-long track record in semi-liquid private market infrastructure, supporting asset managers and wealth managers with distribution and operational frameworks.
The firm said joining the LPEA provides additional opportunities to share technical expertise, contribute to industry dialogue and collaborate on best practices.
The association represents private equity and venture capital interests in Luxembourg, offering a platform for members to engage in regulatory, operational and market developments.
Clearstream said the partnership will help it remain ahead of regulatory and technical changes while strengthening its ability to deliver scalable and secure solutions to clients.
Pierre Mottion of Clearstream Fund Services said the company’s membership “reflects our long-term strategy to strengthen the private market ecosystem in Luxembourg and across Europe,” adding that collaborating with industry peers will help drive innovation and operational excellence.
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Plaee and Crypto.com Launch CFTC-Compliant Prediction Market Infrastructure in the U.S.
Plaee has partnered with Crypto.com’s U.S. derivatives arm to launch a fully CFTC-compliant prediction market technology platform, aiming to serve operators, fintech firms and trading brokers as the sector scales toward an expected $1 trillion in trading volume.
The company said the agreement integrates Crypto.com | Derivatives North America’s institutional liquidity and regulatory framework with Plaee’s CRM systems and retention technology.
The result is an API-first, “plug-and-play” infrastructure that allows operators to launch event-based trading products, including sports, politics and macroeconomic contracts, within weeks.
Plaee said the technology removes key barriers for operators by simplifying regulatory requirements, providing access to deep liquidity and shortening deployment time.
“By partnering with Crypto.com, we are removing the three biggest hurdles for operators: regulatory complexity, liquidity, and time-to-market,” said Plaee CEO Leon Okun.
Crypto.com holds designated contract market status with the Commodity Futures Trading Commission, meaning all end-users become members of the DCM.
The firm said the partnership ensures trades executed through Plaee’s platform meet the highest regulatory standards. Travis McGhee, Crypto.com’s Global Head of Predictions, said the collaboration allows the company to extend its institutional infrastructure to a wider group of operators and maintain its “lead in the industry.”
Key features of the integration include CFTC-licensed event contracts, direct access to liquidity pools for faster execution, and turnkey onboarding with AI-powered retention tools.
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Henkel Korea Appoints Deutsche Bank and NHN KCP as Payment Gateway Providers
Henkel Korea has appointed Deutsche Bank and NHN KCP to provide payment gateway services for its B2B platform.
The collaboration links Deutsche Bank’s global payments network with NHN KCP’s market-leading gateway technology.
The upgraded infrastructure will support online payments for major brands such as Schwarzkopf Professional and Shiseido Professional, enabling distributors and customers to complete transactions through credit cards and bank transfers.
Hyun-Nam Park, Deutsche Bank’s Chief Country Officer for South Korea, said the appointment highlights the bank’s track record in delivering localised solutions for multinational clients operating in the region.
“We are delighted to support Henkel Korea in this way and look forward to expanding this model to other multinational clients,” he stated.
NHN KCP CEO Jun Seok Park believes the partnership showcases strong synergy between Deutsche Bank’s global expertise and NHN KCP’s position as Korea’s leading gateway provider.
He added that the companies aim to help Henkel grow its digital commerce capabilities and strengthen partnerships with global beauty and consumer brands.
The agreement builds on the firms’ existing merchant solutions framework, which provides payment processing, settlement and authentication services.
They plan to expand integrated payment offerings across global merchant networks, starting with Henkel Korea’s operations, as digital commerce adoption accelerates in the region.
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LINE NEXT Partners With JPYC to Explore Adding Yen Stablecoin to Its Services
LINE NEXT has signed a Memorandum of Understanding with JPYC Inc. to explore adding the JPYC yen-based stablecoin to its upcoming stablecoin wallet.
Under the agreement, the companies will examine opportunities to integrate JPYC, convertible 1:1 with the Japanese yen, across LINE NEXT’s services, including payment features and reward programmes.
Their initial focus is on enabling JPYC within the stablecoin wallet that users will access through LINE Messenger.
LINE NEXT and JPYC will also assess technical requirements to ensure safe and compliant use of yen-based stablecoins, while exploring broader applications beyond Web3.
Possible areas include consumer payment services and new digital reward mechanisms. Once integrated, the companies plan to jointly develop campaigns to encourage adoption.
Youngsu Ko, CEO of LINE NEXT, said: “For Web3 to truly take root in Japan, it is essential to deliver simple and intuitive experiences powered by yen-based stablecoins.” He described the partnership as an “important first step” toward enabling everyday payments and reward systems.
JPYC CEO Noritaka Okabe said incorporating stablecoins into widely used consumer platforms represents “a significant advancement” for digital payments in Japan, noting that expanding convenience in daily life is key to long-term adoption.
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GCEX Expands Offering With Launch of Gold Futures CFDs
GCEX Group has added Gold Futures CFDs to its product suite, strengthening the digital prime broker’s multi-asset capabilities as it expands across traditional and digital markets.
The introduction marks a significant step for the firm, which serves institutional and professional clients in the UK, EU and UAE.
The new products offer an alternative to rolling spot instruments and non-expiring CFDs by providing exposure through a defined contract period.
GCEX’s first listed contract is the GCG26 (February 2026 Gold Future), giving clients access to CFDs based on exchange-listed futures prices.
Lars Holst, CEO of GCEX, said the launch “reflects the ongoing development of our product suite and our commitment to supporting client requirements across both traditional and digital markets.”
He added that the company remains focused on institutional-grade instruments backed by strong regulatory governance.
The Futures CFDs embed cost-of-carry within the pricing structure and remove overnight financing charges. Contracts must be closed before expiry, after which GCEX will settle positions automatically at the final settlement price. Expiry details are displayed in the company’s XplorTrader platform.
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Fintel Buys Pearson Ham Insurance Pricing Unit for £11m
Fintel has completed the £11 million acquisition of Pearson Ham Group’s insurance pricing data business, strengthening its Software and Data division and accelerating its push to become a core technology partner to the UK retail financial services sector.
The deal, completed through Fintel’s Defaqto business, includes an initial £7.5 million payment and deferred consideration of £3.5 million payable in April and July 2026. Fintel said the acquisition will be earnings-accretive for the full year ending December 2026.
The pricing division provides proprietary market-wide pricing data to the insurance sector and will bolster Defaqto’s product and pricing datasets.
Fintel said combining this data with its generative and agentic AI capabilities will support growth of its Matrix 360 platform and strengthen Defaqto ratings, benefiting product manufacturers and price-comparison services.
John Milliken, CEO of Fintel Software & Data, said the acquired business was “profitable, growing, cash generative” and offered a “rich historic data set” that would help the industry better understand and deliver consumer value.
Fintel CEO Matt Timmins believes the transaction marks an “important milestone” in expanding the group’s data capabilities and reinforces its position as a strategic partner to financial services firms.
Pearson Ham’s market-pricing CEO, Stephen Kennedy, stated that the team was “delighted to become part of the Defaqto family,” adding that strong synergies would deliver significant benefits to clients.
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Worldline and YouLend Launch Cash Advance
Worldline has partnered with embedded-finance platform YouLend to launch Cash Advance, a new funding solution designed to speed access to capital for small and medium-sized businesses across Europe.
The companies said eligible merchants can receive up to €250,000 in as little as 48 hours, with no paperwork and repayments linked automatically to daily turnover.
The service uses Worldline’s payments infrastructure and YouLend’s data-driven underwriting technology to deliver personalised offers based on real-time transaction data.
The firms explained that the experience removes traditional friction and uncertainty in the lending process, supporting businesses looking to stabilise cash flow, restock inventory or invest in expansion.
Joachim Goyvaerts, Worldline’s head of SMBs, said the aim was “to make business financing as frictionless and personalised as possible,” adding that the collaboration marked a major step in delivering embedded financial services tailored to modern merchants.
Luke Trayfoot, YouLend’s global head of strategic partnerships, said the companies had built a “customer-first financing solution” suited to payment service providers seeking to enhance value-added services.
Cash Advance has already been rolled out in Belgium and the Netherlands, with further European expansion planned. Worldline and YouLend said additional features would be introduced to meet evolving business needs across different markets.
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NYSE Plans Tokenised Securities Platform Offering 24/7 Trading
The New York Stock Exchange has unveiled plans to develop a tokenised securities platform that would enable 24/7 trading, fractional share purchases and immediate settlement via blockchain technology.
The exchange, part of Intercontinental Exchange, said the initiative remains subject to regulatory approval.
The platform will integrate the NYSE’s Pillar matching engine with blockchain-based post-trade processes, supporting settlement across multiple chains. Tokenised shares will remain fungible with traditionally issued securities, with investors retaining dividend and governance rights.
The project is a central part of ICE’s broader digital strategy, which includes preparing its clearing operations for round-the-clock markets and exploring the use of tokenised collateral.
ICE is working with major banks, including BNY and Citi to support tokenised deposits across its clearinghouses, enabling members to transfer money and meet margin obligations outside traditional banking hours.
“For more than two centuries, the NYSE has transformed the way markets operate,” said Lynn Martin, president of NYSE Group.
She added that moving towards fully on-chain solutions would marry trust and established regulatory standards with modern technology.
Michael Blaugrund, ICE’s vice president of strategic initiatives, said supporting tokenised securities marked “a pivotal step” in the firm’s strategy to operate on-chain infrastructure for trading, settlement, custody and capital formation.
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Markets are locked in a “wait-and-see” mode
The main intrigue within the week, however, was not the interest rate. It was a geopolitical factor: the unrest in Iran and the related threat from the US president Donald Trump to Iran’s authorities, has created a speculation for Crude oil.
Despite the softening rethorics, there’s still a possibility of a strike from the US towards Iran. Markets, however, seem to not bet on any escalation, as volatility dropped across the board, with Gold keeping in the tight trading range, indices shaking within the range, and Crude oil erasing most of the week’s rally.
Tech stocks back in play
Nasdaq was lagging behind Russell2000 and S&P500 during the first two weeks of January, as basic material, industrial, and oil stocks were moving in a bullish rally.
The spread between tech and industrial stocks has reached the lower band of the Bollinger Bands (which stands for 2 standard deviations from the 20-day moving average).
Usually, that is a moment for rotation, and Nasdaq might fuel up the rally at the 2nd part of January.
XLK/XLI spread: it indicates the ratio between two ETFs representing tech and industrial sectors respectively. If the spread reaches the supposed bottom of the trading range, it’s expected to bounce, which usually means acceleration of the sector in the numerator. Source: Tradingview.com
The CNN’s fear-and-greed index also flashes a “greed” mode, having good strength and momentum, whereas breadth (i.e. the stability of the flow) is neutral, but not negative.
Next week, traders will await the publication of the PCE index on Thursday (also known as “FED’s inflation”). The World economic forum in Davos will take place between 19 and 23th of January, and traders will also focus on statements and speeches of politicians and central bankers,
Now, let’s dive into the performance of Nasdaq and Gold, and try to figure out the possible track for the upcoming period.
Gold (XAUUSD)
Gold has reached the new all-time-high, not being able to keep the momentum and having locked in a consolidation for several days, as demand for safe haven assets. Volume and open was rising for Gold futures according to the data from Chicago Mercantile Exchange, but the price action didn’t confirm the follow-through.
That skews probability for some correction, as the market would need to deleverage before resuming the uptrend. From a technical standpoint, the price is locked in a very narrow trading range (coil), and if the new peak won’t be achieved early in the week, the possibility of a correction would increase: that might push the price towards the $4500 area as shown at the chart.
Gold (XAUUSD), D1. Source: Exness.com
Nasdaq
Nasdaq might be completing the consolidation phase before making another leg up. Technical and financial sectors were lagging behind other sectors (basic materials, industrial, energy sectors), but should the bull market continue, the rotation of sectors might start and drive Nasdaq from the trading range as shown at the chart.
The market is entering the earnings season, and many big tech companies were in a drawdown (AAPL, NVDA, PLTR) dragging the Nasdaq down. If the buying activity will get back to techs, we might observe another round of buying for the US tech sector.
Nasdaq (USTEC), D1. Source: Exness.com
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Cetera Advisors Fined $1.1 Million by FINRA
FINRA has censured Cetera Advisors, Cetera Wealth Services, and Cetera Investment Services and imposed a combined $1.1 million fine after finding widespread deficiencies in their supervisory and anti-money-laundering (AML) programmes.
The regulator said the Cetera Firms’ systems, including written supervisory procedures (WSPs), were not reasonably designed to ensure compliance with Section 5 of the Securities Act between March 2019 and August 2021.
FINRA found that the firms allowed customers to deposit and liquidate millions of low-priced securities without adequate review, despite multiple red flags, including unusual trading patterns and the absence of restrictive legends on shares.
FINRA also determined that the firms’ AML programmes failed to detect and report suspicious activity.
The regulator noted that between 2019 and 2021, customers collectively sold roughly 800 million shares of low-priced securities, yet the firms did not implement procedures to monitor for patterns indicative of potential money laundering.
Separately, Cetera Advisors was found to have inadequately supervised and retained consolidated reports, which combine a customer’s holdings including assets held away from the firm.
Representatives were able to manually enter information and distribute reports to customers without sufficient oversight, exposing the firm to risks of inaccurate or misleading information.
The settlement requires the Cetera Firms to censure, pay the fine, and certify within 180 days that they have remediated deficiencies in Section 5 compliance and AML procedures.
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Paysafe and Pay.com Forge Strategic Partnership
Paysafe has formed a strategic partnership with payment orchestration platform Pay.com, enabling the integration of its card processing and alternative payment solutions across the platform’s merchant network.
Under the agreement, Paysafe will become one of the recommended acquirers for credit and debit card transactions for online merchants using Pay.com.
The platform has also integrated Paysafe’s digital wallets, Skrill and Neteller, as well as its PaysafeCard eCash solution, expanding the range of alternative payment methods (APMs) available to merchants and consumers.
Pay.com, known for its intelligent payment orchestration, uses a centralised risk engine to improve acceptance and authorisation rates at checkout.
By combining Paysafe’s three decades of experience in payment processing with Pay.com’s technology, merchants across e-commerce, travel, regulated iGaming and financial services sectors can optimise transaction efficiency and offer customers more flexible payment options.
Paysafe’s digital wallets, live in over 130 countries and well recognised in e-commerce and iGaming, are expected to strengthen Pay.com’s APM offering globally and within niche markets. The partnership also incorporates PaysafeCard, a voucher-based solution catering to cash-focused consumers.
Paysafe is already processing payments for several Pay.com merchants, with more than 20 additional merchants expected to be onboarded by the end of 2026.
Rob Gatto, Chief Revenue Officer at Paysafe, said the collaboration “will likely be a game-changer for online merchants, optimising payment routing, enhancing approval rates, and, above all, strengthening their checkouts and ultimately customer relationships.”
Nicholas Banerjee, Chief Revenue Officer at Pay.com, added that the integration “ensures our customers benefit from greater flexibility across card payments and a wide range of alternative payment methods.”
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AI, Defence and Quantum Computing Led Retail Investing Trends in 2025, eToro Says
Artificial intelligence infrastructure, European defence and quantum computing were the most prominent investment themes among retail investors in 2025, according to new data from trading platform eToro.
The biggest increase in holders was recorded by Nebius Group, an AI data centre operator, which saw a 328% rise compared with 2024.
Oracle ranked third with a 228% increase, reinforcing strong demand for companies supporting AI infrastructure. Nvidia remained the most held stock on the platform, ending the year with 21% more holders, while Meta added 19%.
Retail ownership of European defence companies also grew sharply. Leonardo saw a 209% rise in holders, with Thales up 167%, Rheinmetall up 165% and BAE Systems rising 141%.
eToro attributed the trend to the European Union’s proposed €800 billion rearmament plan and the sector’s increasing treatment as a long-term strategic allocation.
Lale Akoner, Global Market Strategist at eToro, said investors’ interest in AI was shifting from chipmakers to companies benefiting from the accelerating demand for data centres. She added that defence stocks had gained from “clearer policy direction” and multi-year spending programmes that improved earnings visibility.
Quantum computing also captured growing interest. Both IonQ and D-Wave Quantum made the list of top risers, reflecting early retail exposure to a technology still in its commercial infancy.
eToro said the findings show retail investors becoming more selective within major themes, favouring companies with clearer revenue paths and structural demand drivers.
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Fujitsu and SC Ventures Outline Roadmap for Quantum Joint Venture
Fujitsu and SC Ventures by Standard Chartered have unveiled the roadmap for Qubitra Technologies, their new joint venture aimed at accelerating quantum innovation across financial services and advanced computing.
The company, initially incubated in 2025 as Project Quanta, will operate from the UK and integrate quantum computing, AI and frontier technologies into real-world applications.
Qubitra plans to focus on two pillars: high-performance, quantum-enabled applications and a digital marketplace platform connecting the global quantum ecosystem.
The applications will target areas such as fraud detection, derivatives pricing and financial markets trading, combining quantum and quantum-inspired techniques with advanced machine learning. Early implementations are under way with financial institutions, hedge funds and family offices, with a first rollout planned for early 2026.
The marketplace will host software, hardware and open-source tools from third-party quantum providers, alongside Fujitsu’s own hardware and Digital Annealer technology. The platform will allow users to test and deploy solutions across the quantum stack, with a pilot MVP launch due in 2026.
Qubitra’s leadership team includes CEO Vishal Shete, formerly of Terra Quantum; COO Daniel Wynne, previously founding COO at Carbonplace; and CSO Kugendran Naidoo, a former J.P. Morgan and IBM executive specialising in quantum algorithms and machine learning.
Alex Manson, CEO of SC Ventures, said the venture aims to “re-invent financial services” with frontier technologies, while Fujitsu’s CTO Vivek Mahajan said Qubitra’s applications are designed to deliver measurable improvements over current market methods.
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