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UBS has continued to evolve the FX offering on its UBS Neo platform over the past four years, with the bank making significant strategic investments in the last 12 months that further refine the offering.

Banco Santander has seen the expansion and success of its FX business extend into Argentina over the review period. Significant developments include its developing non-deliverable forwards (NDF) currency solutions, enabling clients to trade Latam currencies offshore while maintaining onshore delivery. This expansion is driven by growing trade corridors between Asia and Latam and currency rebalancing trends.

CLS has been steadily expanding and refining its services to meet the diverse needs of the foreign exchange industry, with a strong emphasis on reducing settlement risks and boosting operational efficiency.

CME Group’s EBS has been established three decades in the market as a primary venue for reliable, anonymous liquidity and price discovery in cash FX. During the review period, CME further pushed EBS’s value proposition by launching several new initiatives.

Capitolis continues to develop innovative technology solutions for institutional clients aimed at enhancing the safety and stability of the FX market as a whole. The company’s flagship product, the Capitolis Novations platform, is the only FX novation platform available and has had a significant impact. By automating the novation process for market participants, including prime brokers, banks and hedge funds, Capitolis has optimized FX options portfolios, reducing risk and capital footprint while driving operational efficiencies for clients.

HSBC has established itself as a leader in the corporate foreign exchange space by continuously developing innovative solutions. The bank provides liquidity across a range of channels and has consistently ranked in the top three on external platforms with a heavy corporate presence.

In South Africa, a new generation of digital banks and fintechs are offering credit and convenience to even the smallest SMEs. This provision of financing to the full spectrum of small and medium sized businesses could provide a path for other players to follow.

Extending banking services to African SMEs is vital to ensure economic and social progress, requiring both a regulatory effort from above and private sector problem-solving from below. Many of the continent’s most dynamic markets are now showing signs of progress.

IndusInd Bank’s commitment to sustainable development is underscored by compelling data reflecting its impact in 2023. Sustainable finance now constitutes approximately 46% of the bank’s total lending, up from 43% in 2022 and a significant rise from 33% in 2018. In 2023, the bank’s green and climate finance advances amounted to Rs78.8 billion ($944 million), representing 2.72% of its total loans.

Sir Patrick Sergeant, the charismatic founder of Euromoney and legendary lynchpin of financial journalism, passed away on September 18 aged 100.

Mashreq Al Islami continues to demonstrate its digital leadership in Islamic banking through the breadth and quality of the services and products it provides. It is Euromoney’s best Islamic digital bank this year.

If UniCredit is close to acquiring Commerzbank, it’s not just the result of a quick and crafty deal in the equities market. It comes after years of rebuilding the bank’s financial strength and reputation. Euromoney recalls how the Italian bank came back from the brink – ready to get into a position to buy Commerz.