News Nuggets | 18 July: Binance and CS to Cut Staff; Big Banks Partner on FX Trading

<p>Binance Reduces Employee
Benefits and Cuts Staff</p><p>The global
<a href="https://www.financemagnates.com/terms/c/cryptocurrency-exchange/">cryptocurrency exchange</a>, <a href="https://www.financemagnates.com/tag/binance/" target="_blank" rel="follow">Binance</a> is reportedly reducing certain employee
benefits due to a drop in profit. This follows changes in the market
environment and regulatory climate and may signal further cost-cutting
measures. </p><p>Binance is
also reportedly laying off between 1,500 and 3,000 of its global workforce, following an
ongoing Justice Department investigation. This represents a significant
reduction in the company's employment, and the layoffs are expected to continue
until the end of the year.</p><blockquote><p lang="en" dir="ltr">CZ dismisses reports of staff cuts at Binance, claims 'this happens in every company'. <a href="https://t.co/TEr2I50K6P">pic.twitter.com/TEr2I50K6P</a></p>— Crypto Crib (@Crypto_Crib_) <a href="https://twitter.com/Crypto_Crib_/status/1680187218462121986?ref_src=twsrc%5Etfw">July 15, 2023</a></blockquote><p>MUFG, Morgan Stanley
Collaborate on Forex Trading</p><p>Mitsubishi
UFJ Financial Group (<a href="https://www.financemagnates.com/tag/mufg/" target="_blank" rel="follow">MUFG</a>) and Morgan Stanley are set to deepen their ongoing
collaboration with a new initiative involving foreign exchange trading and
Japanese equity research for institutional clients. </p><p>This
strategic move follows MUFG's $9 billion investment in Morgan Stanley in 2008,
demonstrating the growing synergy between these two financial powerhouses.</p><p>Credit Suisse Announces
London Staff Cuts</p><p><a href="https://www.financemagnates.com/tag/credit-suisse/" target="_blank" rel="follow">Credit
Suisse</a> has announced plans to reduce its London investment banking staff by 80
roles, Financial News reported today (Tuesday). This is part of the bank's anticipated deep layoffs when Credit
Suisse undertakes an integration process with UBS. </p><p>The cuts
represent approximately 30% of its London-based investment banking employees.</p><p>IPC Partners With CryptoStruct </p><p>IPC
Systems, a secure communications and multi-cloud connectivity solutions
provider, and CryptoStruct, a leading cryptocurrency market data and trading
solution provider, are teaming up to deliver enterprise-grade data to <a href="https://www.financemagnates.com/tag/ipc/" target="_blank" rel="follow">IPC's
Connexus Crypto</a> trading ecosystem. </p><p>The
Connexus Crypto system, launched in November 2021, facilitates complex trading
strategies, reduces risk, and provides low latency connectivity to several
global crypto exchanges. The partnership aims to boost its market reach by
offering traders access to CryptoStruct's advanced market data solutions.</p><p>StoneX Group Rebrands Coininvest
to StoneX Bullion</p><p>StoneX Group Inc. has announced the launch of StoneX Bullion, a rebranding of its Coininvest
platform. The site allows users to buy, sell, and invest in high-quality
precious metals including silver, gold, platinum, and palladium, and serves
clients worldwide. </p><p>The
rebranding aligns StoneX's retail metals trading platform with its broader
brand, with the company planning further enhancements and service offerings for
StoneX Bullion customers.</p><p>TS Imagine Hires Christian
Dietmann for Its UK Sales Team</p><p>TS Imagine,
a global provider of trading, portfolio, and <a href="https://www.financemagnates.com/terms/r/risk-management/">risk management</a> solutions, has
announced the appointment of Christian Dietmann to its EMEA sales team. </p><p>Dietmann
will focus primarily on UK sales, bringing his experience from previous roles
at TP ICAP's Parameta Solutions and Liquidnet Investment Analytics. The move
aims to bolster TS Imagine's sales capabilities in the UK market.</p><p>Growing Interest in
Sustainable Investments among French Youngsters</p><p>Following a
biannual survey, the Autorité des marchés financiers (<a href="https://www.financemagnates.com/tag/amf/" target="_blank" rel="follow">AMF</a>) reveals growing
interest in sustainable investments among the French population, particularly
those under 35. </p><p>The survey
shows that two-thirds of respondents consider sustainable development issues
when making savings decisions. This rising awareness and interest are
indicative of a shift towards more sustainable investment choices in the French
market.</p><p>Starling Bank Chooses
Napier for AML Compliance</p><p>UK-based
digital challenger bank, <a href="https://www.financemagnates.com/tag/starling-bank/" target="_blank" rel="follow">Starling</a>, has selected Napier as its technology
platform for Anti-Money Laundering (AML) and counter-terrorism financing
(AML/CTF) solutions. </p><p>Napier's
Transaction Screening solution from the Napier Continuum platform will support
Starling Bank's mission of providing customers with fast technology, fair
service, and honest values.</p>

This article was written by Finance Magnates Staff at www.financemagnates.com.