- Reuters
State Street replaces UBS as custodian bank for Swiss government fund
U.S. bank State Street has won a mandate to act as custodian bank for a multibillion-dollar compensation fund of the Swiss federal government that was previously at UBS, authorities said on Wednesday. The decision to hand the AHV/IV/EO fund to State Street was made in December after a two-year tender process and the transfer should be completed by the end of this year, according to Compenswiss, a federal body managing the public pension fund. The fund is worth more than 40 billion Swiss francs ($44.48 billion), and according to Swiss newspaper Tages-Anzeiger had been with UBS for 26 years.
- Bloomberg
France’s Market Rally Falters as Investors See Enduring Risk
(Bloomberg) -- Investors took comfort Monday that Marine Le Pen’s National Rally failed to record a decisive win in the first round of France’s snap parliamentary elections. The optimism is already fading.Most Read from BloombergSupreme Court Says Trump Has Some Immunity, Delaying Trial24-Hour Stock Trading Is Booming – and Wall Street Is RattledDemocrats Weigh Early Biden Nomination to Squash Talk of a SwapBlackRock Buys Preqin for $3.2 Billion in Private Data PushTrump as President or Private
- Zacks
Interactive Brokers (IBKR) Arm Unveils Forecast Contracts
Interactive Brokers (IBKR) launches forecast contracts via its wholly-owned subsidiary ForecastEx, which obtains necessary approvals to operate as a contract market and derivative clearing organization.
