BPX gets FCA clearance to operate marketplace for traditional and tokenised securities
0
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
With these institutional grade regulatory permissions in place, BPX is developing a fully integrated marketplace to support the entire lifecycle of a security. This includes issuance, trading and collateralised lending of traditional dematerialised and tokenised securities, alongside settlement and custody of tokenised securities.
BPX is also the only FCA-authorised trading venue to have passed Gate 1 of the Bank of England and FCA's Digital Securities Sandbox (DSS).
BPX now enters its next phase: preparing for live operations and welcoming institutional participants to connect in anticipation of its first transaction.
BPX's mission is to enhance access and liquidity for Issuers and Investors in investment funds and digital assets. Its distributed ledger technology enabled platform enables efficient tokenisation at scale, broadening investment opportunities, unlocking new liquidity sources, and facilitating capital access.
Dr. Robert Barnes, BPX Co-CEO, said: 'Our vision is a marketplace of best practice, modernised for institutions, offering access through a single connection to a broader range of hard-to-access alternative assets, such as infrastructure and real estate investment funds, whether traditional or tokenised—available for issuance, trading, and use as collateral.'
Ali Celiker, BPX Co-CEO, added: 'Our comprehensive regulatory permissions and integrated market infrastructure strongly position us to advance our mission: enhancing access and liquidity for issuers and investors, while leading the transformation of capital markets from legacy systems to tokenised workflows - firmly anchored in regulatory compliance and driven by innovation.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times
4 hours ago
- Times
FCA finalises ban on ex-Barclays boss Jes Staley over Epstein links
The City regulator has finally banned Jes Staley from holding top jobs in financial services after the former Barclays boss threw in the towel in his fight with the watchdog over his links to the paedophile Jeffrey Epstein. Staley, 68, took the Financial Conduct Authority to court to overturn its plan to ban him but failed to clear his name, as the Upper Tribunal last month sided with the regulator and ruled that Staley's conduct had amounted to 'a serious failure of judgment'. He had the option to try to appeal against the court's decision but the deadline to seek permission to fight on passed earlier this month. As a result, the FCA this week published its final notice, which implements the prohibition on Staley holding senior management roles in the industry that the regulator first proposed more than two years ago. It also formally imposes a £1.1 million fine on the former bank boss, which he must pay by August 6. The FCA had originally planned a £1.8 million penalty but the court reduced this to take account of deferred shares from Barclays that Staley had subsequently been forced to relinquish because of the controversy. It brings to an end a legal battle that engrossed the City of London and Wall Street, where Staley, an American, was also once a big player. During the trial this year, the Upper Tribunal heard how Staley had told Epstein they had a 'profound' friendship and had referred to the sex offender as 'uncle Jeffrey' in an email to one of his daughters. Under cross-examination by the FCA's barrister, Staley, who is married, also told the court that he had once slept with a member of Epstein's staff. Staley had worked for most of his career at JPMorgan Chase and it was while running its private bank that he came to know Epstein, a financier who was a client of the division. In 2015 Staley became one of the most influential figures in British finance when he took charge of Barclays, the FTSE 100 bank he ran until 2021. After Epstein died in a US prison cell in 2019 awaiting trial on charges of sex-trafficking minors, the FCA asked Barclays about the nature of Staley's relationship with him. The resulting letter from the bank was at the heart of Staley's courtroom battle with the regulator. In it, the bank said that Staley 'did not have a close relationship' with Epstein and that his last contact with the paedophile was 'well before he joined Barclays'. These statements, which were approved by Staley, were misleading, according to the FCA, which said the former Barclays boss had 'acted with a lack of integrity'. The Upper Tribunal agreed with the regulator's findings. The FCA did not allege that Staley was involved in Epstein's crimes. • Jean-Noel Alba, who was previously deputy chief executive of the asset manager H20, has been banned from working in financial services and fined more than £1 million by the City regulator. The Financial Conduct Authority said he had misled it during an investigation into H20, including by asking junior colleagues to create minutes of meetings that had not occurred and by drawing up due diligence research on investments years after those investments had actually been made.
Reuters
4 hours ago
- Reuters
UK financial watchdog fines H2O's former deputy CEO, places ban
July 25 (Reuters) - Britain's Financial Conduct Authority on Friday imposed a fine of 1 million pounds ($1.34 million) on Jean-Noel Alba, the former deputy CEO of French asset manager H2O, and banned him from the financial services industry following his conduct during an investigation. H2O in 2019 became the subject of market and regulatory concern over its investments in illiquid bonds issued by several companies related to German entrepreneur Lars Windhorst, who owns investment firm Tennor. FCA said that during its investigation, Alba provided false and misleading statements and documentation to the regulator. "Alba asked junior colleagues to create minutes, including records and minutes of committees, where no formal meetings had taken place," the watchdog said. "Alba also provided due diligence materials, such as investment research, to the FCA that had been created years after the investments had been made, when he had claimed they were produced at the time." In August 2024, H2O voluntarily offered to pay 250 million euros to investors trapped in funds since 2020 and said it would shut its UK regulated operations, escaping a fine for failing to make sufficient checks on risky investments. ($1 = 0.7448 pounds)
Reuters
5 hours ago
- Reuters
UK Supreme Court to rule on motor finance commissions on August 1
LONDON, July 25 (Reuters) - The United Kingdom's Supreme Court will give its long-awaited ruling on motor finance commissions, which will inform a potentially multi-billion pound consumer redress scheme, on August 1, the court announced on Friday. British lender Close Brothers (CBRO.L), opens new tab and South Africa's FirstRand (FSRJ.J), opens new tab are seeking to overturn a landmark Court of Appeal judgment, which said brokers must have customers' fully informed consent to receive a commission from lenders. Britain's Financial Conduct Authority (FCA) is considering a redress scheme which could leave brokers paying out tens of billions of pounds – and has previously said it will confirm whether to do so within six weeks of the Supreme Court's ruling.
