Month: September 2020

Foreign exchange: Banks deal with volatility from home

Since the global financial crisis, most FX markets have enjoyed a decade of extremely low volatility. While there have been initiatives around regulatory compliance, the market has otherwise been quiet, with volatility touching all-time lows as recently as January, exacerbated by a depressed yield curve.

Clients simply had less need to trade in that kind of environment, explains Jason Vitale, global head of FX at BNY Mellon Markets.

Jason Vitale, BNY Mellon

“There will always be commercial and payment flows in the spot market, but FX as an asset class, or directional hedging activity, had been depressed since the middle of last year in particular.”

Now it’s different. Equity markets have been left reeling from big sell-offs since the end of January, but FX volumes have rocketed.

Integral reported a 40% increase in average daily volumes in March (driven mainly by euro trading); FX spot volumes on CLS jumped 24% in February; and CME Group’s FX average daily volume reached its highest ever level.

Before January there had been some debate among banks as to whether the benign market was a cyclical or structural trend, but everything changed once details of the coronavirus emerged.

Fast forward two months, and volatility is at elevated levels and clients who did little or no FX trading last year are suddenly spending a lot

Read More

10 Positive Leadership Books to Motivate and Inspire You During Difficult Times


5 min read

Opinions expressed by Entrepreneur contributors are their own.


This year has been defined by bad news for most of us. While watching and reading the news has been a negative experience for years, it often seems there is more uncertainty and divisiveness than ever before.

In this environment, we need to intentionally seek out positive resources that will inspire us, motivate us to improve, and lead others to grow alongside us.

Here are 10 books that will help you build positive improvement into your life. They have helped me through the highs and lows of 2020.

In 2015, CEO and Wall Street Journal bestselling author Robert Glazer started sending a note to his team of 40 each Friday. Today, that same weekly note, Friday Forward, is read by over 200,000 leaders in more than 60 countries. This book is a curated collection of the 52 most impactful stories from the series, organized in a framework that will help you set and achieve your own goals and inspire others in the process. Glazer has shown that small actions can become highly impactful movements over time — in Friday Forward, he’ll help you make an inspiring impact on the people in your life.

As many people encountered unprecedented personal and professional struggles in 2020,

Read More

Wealth management: Deutsche Bank advisers launch Deposit Solutions marketplace

Deutsche Bank will become the first big bank to systemically distribute deposits from rival banks through its branch network and wealth management business, in another shift towards open banking in Europe.

The move comes as Deutsche Bank seeks to improve its client offering and fee income at a time when banks – especially in Germany – are facing a stark choice between charging negative rates to depositors or suffering even lower net interest margins.

Germany’s biggest bank, which has a loan-to-deposit ratio of about 75%, is the single-largest holder of excess reserves at the European Central Bank (ECB), according to research by JPMorgan.

Deutsche bought 5% of deposit-marketplace fintech Deposit Solutions in September, the same month that the ECB cut its deposit rate to -0.5%.

Zinsmarkt

It made the platform available on a white-labelled basis with the launch of its Zinsmarkt deposit offering two-and-half years ago, initially through its in-house online broker Maxblue, but previously only on a self-directed basis.

Now Deutsche is moving beyond the test phase, launching active distribution of Zinsmarkt at branch level, and to wealth management clients – in other words, to those most likely to be charged negative rates.

This allows clients to deposit in third-party banks without leaving Deutsche Bank’s online portal. The branch and wealth management salesforce have been trained to

Read More

Zoom Keeps Zooming! – SmallBusiness.com

(Monday, August 31, 2020) While SmallBusiness.com does not report stock market news, today’s second-quarter earnings of the videoconferencing company, Zoom, is as much a small business culture story (for how it has changed many small businesses during the past six months) as it is a business one.

The pandemic has transformed every kind of small business — buyers, sellers, virtual-webinar-attendees, you name it — into Zoom users.

This afternoon, the company reported revenue for the quarter was $663.5 million, up 355% year-over-year. The company made as much money in May, June and July as it did in all of 2019, beating even the high anticipation of Wall Street.

It is hard to imagine how much work-oriented teleconferencing could have taken place — including small business — without Zoom.

Indeed, a recent outage of some of Zoom’s conferences demonstrated the vulnerabilities of virtual classes and office meetings during the age of the coronavirus pandemic.

Analysts and reporters like Minnesota Public Radio’s Market Place’s Meghan McCarty Carino are asking if Zoom’s phenomenal success can continue.

Will Zoom Be a Sprint, or a Marathon?

While low-cost and easy to use teleconferencing has transformed it into a must-have business tool for the present, it’s not guaranteed that Zoom will be the long term winner.

While it receives high marks for its ease of

Read More

20 Ways to Make Money as a Social Media Influencer


8 min read

Opinions expressed by Entrepreneur contributors are their own.


Many people think we’re at the peak of the “creator economy,” pointing to supply saturation, overvalued tech startups and creator burnout as their central arguments. But I think we’re at the beginning. After building a technical product that has facilitated thousands of activations, I can assure you that has a long way to go to help existing and aspiring creators achieve their financial goals.

One-third of kids between the ages of 8 and 12 aspire to be either a vlogger or a Youtuber. Kids are no longer aspiring to be doctors, lawyers, engineers; many kids want to become creators on social media. Social media exposure seems to be influencing kids’ future career aspirations.

Pair that with the facts that Youtube made $15 billion last year, with nearly half of that going to content creators. Youtube is the social content forerunner; whenever there is economic opportunity, creators will go. It’s no surprise that unveiled a $200 million fund for creators and is going to start sharing revenue with creators on IGTV. That said, Instagram has a long way to go given that they made $20 billion in revenue last year and barely shared any with creators.

Related: 10 Ways to

Read More