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Endeavour Ventures Wins EISA Best Exit of 2017 Award!

Posted on 12th February 2018 in R5FX Ltd

PRESS RELEASE

ENDEAVOUR VENTURES WINS EISA 2017 BEST EXIT AWARD

 

Endeavour Ventures has won the “Best Exit Award” at the Enterprise Investment Scheme Association’s February House of Lords event for its investment into the software business Blue Prism Group Plc. The Award was sponsored by Mainspring Fund Services and judged by an independent panel of industry professionals.

“This recognition is most welcome as Blue Prism Group Plc is precisely the kind of growth story that the tax breaks were intended to support” said Bill Cunningham who collected the award. “Some exceptional returns have come out of a relatively modest initial investment. The founder and his team have delivered their original vision and thoroughly deserve their success”.

Transaction History

In mid-2006 Endeavour was amongst the first to back Blue Prism Ltd which later became Blue Prism Group Plc. Over the following 12 years it evolved into a classic software growth company story, pioneering software-derived process automation to a diverse list of clients. The founding CEO Alastair Bathgate remains at the helm.

The company listed on the Aim market in March 2016 and Henderson Investec handled the flotation. A 12-month lock-in fell away in March 2017.

Endeavour’s HNW investors initial 2006 subscription was priced at £11.40 which reduced to 11.4 pence through a 100 for 1 share split. Additional shares were later issued in lieu of subscription protection, which fell away at flotation.

The Blue Prism Group Plc Market Cap on 16/02/2018 was £969.29m giving Endeavour’s initial investors a return of 150X.

At its peak in November 2017 the share price topped £16.38 briefly taking it into “unicorn” territory before falling back again.

Mark Brownridge, current Director General of the EIS Association commented; “Congratulations to the Endeavour team for their success at our EISA awards. The EISA awards seek to promote excellence within the EIS/SEIS industry and Endeavour have embodied that spirit by supporting and developing an entrepreneurial business like Blue Prism over a long period of time, guiding them towards an exit that will have no doubt generated much excitement from their investors. The judges were hugely impressed with Endeavour’s entry, particularly as it showcases the fact that EIS is perfectly positioned to not only inject much needed funds into small, fast growing UK businesses, but also to provide investors with significant growth returns in addition to the generous tax reliefs on offer.”

About Endeavour Ventures

Endeavour’s team has been exclusively investing into growth EIS technology companies since 2006.  They have introduced in excess of £150m of direct EIS funding into over 40 companies, and developed a robust track record over 12 years across a diversified portfolio.

Their investment focus is principally but not exclusively on software, fintech platforms, property and legal tech, pay-tech, the cloud and related technologies, and IoT.

Recognising that their approach to growth investing has a longer-term perspective than most EIS managers, Endeavour invests outside a managed fund structure aligning themselves with investors upon exit. They complete comparatively few deals each year, do not charge management fees, and their portfolio product may only be accessed directly through Endeavour itself.

About Blue Prism Group Plc

Blue Prism invented the term Robotic Process Automation. Our software platform enables business operations to be agile and cost effective through rapid automation of manual, rules based, back office administrative processes, reducing cost and improving accuracy by creating a “digital workforce”. More info here.

20/02/2018.

 

R5FX CEO Jon Vollemaere on CNBC

Posted on 2nd February 2018 in R5FX Ltd

JV CNBC

https://www.cnbc.com/video/2018/02/02/britain-and-china-sign-more-than-13-billion-worth-of-deals.html?play=1

Press from R5 Shanghai Connect London Launch Event Dec 2017

Posted on 9th January 2018 in R5FX Ltd

Media Coverage – R5-SHCH Connect (updated December 20th)

Euromoney

https://www.euromoney.com/article/b15y90hdc0zhm0/chinese-banks-yearn-to-trade-offshore-renminbi

Chinese banks yearn to trade offshore renminbi

By: Paul Golden Published on: Thursday, December 07, 2017

Analysts’ confidence that there is untapped demand from Chinese banks to trade offshore RMB is good news for R5, which last week announced a joint venture with Shanghai Clearing House designed to connect these institutions to the London FX market.

China’s ongoing acquisition of offshore assets and increasing influence in many parts of the world have created a need for its domestic banks as the primary financiers of a growth in demand by Chinese banks to more actively trade renminbi in all centres.

According to Wendy Tao, director of prime services at brokerage Invast Global, easier access to offshore RMB trading would reduce the discrepancy between the use of its currency and China’s status as the world’s second-largest economy.

“To an extent this would increase the involvement of marginal participants, but more significantly it would substantially improve liquidity as both existing and new participants would increase their trading in renminbi,” she says.

Arin Ray, an analyst in the securities and investments group at Celent, also accepts that easier access to offshore renminbi trading should lead to an increase in the number of market participants and improve liquidity.

To date, demand from Chinese-based financial institutions to promote and participate in offshore RMB trading has been focused on the main Asian trading centres of Hong Kong and Singapore. R5 hopes that its formation of an electronic marketplace in partnership with Shanghai Clearing House will see more of this business done in London.

R5-SHCH Connect will provide connectivity for banks located in Shanghai – followed by those across China – to directly trade FX in London. Demand from Chinese banks for equal access to G10 spot means the service will go live with eight Chinese banks and will launch with HKD, EUR, GBP and USD spot.

The first phase is likely to go live just before Christmas.

Second phase

Euromoney understands that – subject to approval by the People’s Bank of China (PBoC) – the second phase of the project, which will cover CNH as well as JPY, CHF, AUD, NZD, SGD and CAD, will go live in the first quarter of 2018.

The service uses the R5 platform, which means that – again subject to approval by the PBoC – it will be able to offer onshore Chinese banks access to a wider range of emerging-market currencies. Plans for future expansion also include extending access to products such as forwards, swaps and bonds.

Initial trading expectations are for $2 billion in renminbi transactions per day. There are a further 17 banks in Shanghai that R5-SHCH Connect hopes to onboard and an additional 30 financial trading institutions will be targeted in a second phase.

The service is aimed at providing Chinese banks with access to deeper liquidity and better pricing for G10 currencies, explains R5 CEO Jon Vollemaere.

“The traditional model of bilateral credit doesn’t work well for Chinese banks,” he says. “R5-SHCH Connect offers a new central credit and clearing model which provides them with equal access to the more liquid markets. “With onshore and offshore Chinese banks accessing the offshore renminbi market, alongside G10, we expect liquidity to increase significantly.”

The leading Chinese banks are expanding offshore and trade actively in all major currencies – not only in euros, US dollars and sterling, but also yen and Australian and New Zealand dollars, says Invast Global’s Tao, adding: “With Chinese companies active in many parts of the world, domestic banks will continue to have a strong appetite for all major currencies.”

According to Vollemaere, the fact that many of the Chinese banks that have committed to using the marketplace have little or no profile in London will inevitably boost liquidity.

“The onshore and offshore Chinese banks have a huge appetite to trade the G10 currencies,” he adds. “They want to support their clients as they buy and sell goods around the world, and they want equal access.

“There is a large onshore demand for dollars well beyond the import of goods and services as well as demand for currency exchange around the Bond Connect and Stock Connect schemes.”

Strict controls

However, China retains strict controls over its currency, intervening in the market as and when it feels needed, which can impact investors’ views and desire for trading in RMB products.

Even if the market were to grow, it is likely that would happen gradually and over the longer term, says Celent’s Ray.  “The Chinese authorities’ focus is to have its currency movements influenced by real economic activities – primarily trade settlement, but also investment and hedging activities – and arbitrage or speculative activities are discouraged; though the line between hedging and speculation is not always clear,” he says.

 

Bloomberg Intelligence chief Asia economist Tom Orlik sounds an equally cautionary note, observing that the onshore market represents a notable challenge to offshore trading. “As China takes steps to open its bond market to institutional investors, the need for – and appeal of – holding yuan offshore is diminished,” he concludes. “You can see that in the sharp drop in yuan deposits in Hong Kong.”

Profit&Loss

https://www.profit-loss.com/articles/news/exchanges-clearing/r5fx-shanghai-clearing-house-to-launch-fx-trading-platform

R5FX, Shanghai Clearing House to Launch FX Trading Platform

December 1st 2017

R5FX Shanghai Clearing House SCH RMB ChinaShare to More

R5FX and the Shanghai Clearing House (SHCH) will launch a new electronic marketplace next month, in a move which will enable Chinese banks to directly trade offshore RMB with London for the first time.

The platform, called Connect, is due to go-live on 18 December – following confirmation from the People’s Bank of China. Eight Chinese banks will be participating from launch, with further banks and institutions to be added at a later date.

The products available for trading in this first phase will be USD/HKD, GBP/USD and EUR/USD. Profit & Loss understands CNH and the remaining G10 currency pairs may also be added towards the end of Q1 2018.

“This partnership is all about connecting Chinese banks with the London FX market and giving them equal access to deep liquidity,” says Jon Vollemaere, CEO and founder of R5. “Connect opens up the London FX market to Chinese banks and our central credit and clearing model means they can trade with an expanded group of counterparties and trade on the best prices.”

Shanghai-based banks will start using the platform from phase one, followed by further banks across China. There are a further 17 banks based in Shanghai which are also expected to be onboarded to Connect – and a further 30 institutions which R5 aims to add in the platform’s second phase.

They will also be able to use R5’s central clearing and credit platform, R5C3, with R5 directing these trades to SHCH for settlement.

Connect is an additional service specifically designed for Chinese banks, with the potential to also offer these institutions access to R5’s suite of emerging market currencies in the future.

Initial volumes in RMB transactions are expected to be in the region of USD 2 billion. R5 and SHCH also plan to extend the offering to include swaps, forwards and bonds, while also branching out into additional RMB offshore markets such as Hong Kong, Singapore and New York.

“R5 and SHCH are working in partnership to deliver true innovation,” Vollemaere adds. “Not only is this expected to increase liquidity in the global FX market, but it will also strengthen London’s position as a major offshore RMB centre.”

The news was announced at SHCH’s inaugural London seminar on cross-border FX this week, which was co-hosted with R5 and the China Construction Bank.

Mei Jin, chief representative from the People’s Bank of China (PBoC) European Representative Office, says she hopes the new Connect service initiative would act as a high-speed link between China and London’s FX markets while also further promoting RMB internalisation.

“China continues to open up,” Jin adds. “In the last several years, the PBoC has taken effective steps to reduce FX controls and promote renminbi convertibility in a prudent manner.”

Ben Cackett, head of global exports and investment for the City of London also welcomed the new clearing service, adding that the model of conducting cross-border transactions on the London based e-platfrom and clearing centrally by SHCH will give “full play to the advantages of the infrastructures in both countries and satisfying the FX trading and clearing needs of each side”.

FX Week

https://www.fxweek.com/global/emerging-markets/3384661/r5fx-launches-renminbi-connection-with-shanghai-clearing

R5FX launches renminbi connection with Shanghai Clearing

Connect will enable Shanghai banks to trade spot FX offshore via R5FX

Cross-trading: Connect will work with eight Shanghai-based banks initially

Emerging markets trading platform R5FX is launching a cross-trading connection with Shanghai Clearing House (SHCH), which will allow local Chinese banks to trade foreign exchange offshore.

Until now, banks based in China have had little opportunity to trade foreign exchange offshore. With R5-SHCH Connect, many of these banks will trade FX offshore for the first time, while those already doing so will be able to expand their counterparty and liquidity base.

When the scheme launches, eight Chinese banks will connect to the platform.

Markets Media

http://marketsmedia.com/london-fx-market-connects-shanghai/

London FX Market Connects to Shanghai

Shanghai Clearing House has formed R5-SHCH Connect, a joint venture emerging markets foreign exchange trading marketplace R5 to provide connectivity for Chinese banks to directly trade foreign exchange in London.

Shanghai Clearing House was established in 2009 by the People’s Bank of China as a qualified central counterparty and one of the central securities depositories in China. In March this year the Shanghai Clearing House opened a representative office in London, adding to the 30 Chinese financial institutions in The City of London, in order to develop financial cooperation and partnership between the two countries.

Jin Mei, chief representative of the People’s Bank in Europe, said at a conference in London last  week that the UK in the second largest offshore market for Chinese renminbi and the government wants to develop foreign exchange infrastructure.

Jon Vollemaere, chief executive of R5, said at the conference that the firm has spent the spent the last few years moving emerging market FX trades from telephones onto screens through the use of APIs, algorithms and aggregators.

“The joint venture will speed up electronification of FX in domestic China, and firms will not only catch up with, but will overtake the West,” he added.

Shen Wei, deputy general manager at Shanghai Clearing House said the CCP chose to launch  the venture with R5 because the electronic platform is authorised by the Financial Conduct Authority, the UK regulator, and it accommodates existing market practices.

She said: “Clearing will reduce settlement risk. There is increasing demand from Chinese firms who cannot access the offshore RMB market as they who do not have the necessary credit lines.”

Chen Leilei, general manager of the product development department at Shanghai Clearing House, said at the conference that the joint venture will accelerate international use of RMB, especially with the financial needs of China’s One Belt, One Road initiative to develop trade infrastructure across Asia. Institutions already trading in London will benefit from additional counterparties and deeper liquidity provided by new Chinese entrants, and Shanghai Clearing House will gain from both international clients and global expansion

R5 will stream prices for anonymous spot trading and the SCH becomes the central counterparty, reducing the need to use credit lines.

Chen continued that the venture will launch on 18 December with an initial group of eight Chinese banks trading spot Hong Kong dollars, euros, sterling and US dollars. “We will then widen the currency pairs and eventually add other FX derivatives,” she added.

There are a further 17 banks in Shanghai who could also join Connect and an additional 30 financial trading institutions which are slated to be added in a second phase.

Expansion plans for the future include extending access to new products such  as forwards, swaps and bonds, and adding the offshore RMB markets in Hong Kong, Singapore and New York. R5 said it expects around $2bn in RMB transactions per day when Connect launches.

 

China Daily

http://www.chinadaily.com.cn/bizchina/2017-11/30/content_35130597.htm

Shanghai Clearing House to start operations in London

By Cecily Liu in London | China Daily | Updated: 2017-11-30 07:52

Shanghai Clearing House will launch China’s first-ever cross border foreign exchange clearing platform with a London partner next month to support China’s further capital market liberalization and renminbi internationalization.

Announcing the news in London on Tuesday, Shanghai Clearing House said it will launch the platform in partnership with the London-based R5FX, which is a clearing platform for emerging markets’ foreign exchange trade.

While Shanghai Clearing House will provide trade clearing infrastructure within China, R5FX will provide clearing infrastructure in London and other international markets in which it operates.

The new platform is seen as a vote of confidence in London’s status as a leading international financial hub despite uncertainties over the United Kingdom’s impending exit from the European Union.

It builds on increasingly strong China-UK financial collaboration during the two countries’ “golden era” of relations, which began with President Xi Jinping’s state visit to the UK in October 2015.

“We have chosen London because it is a leading international foreign exchange hub with 40 percent of global foreign exchange trading,” said Cheng Leilei, general manager of product development department at Shanghai Clearing House.

Effectively, the new platform allows China’s onshore banks to trade with overseas banks. Initially they can trade currencies, but over time products such as bonds and derivatives could be added.

Without the platform, Chinese and overseas banks would need to invest significant time and efforts into finding counter-parties willing to accept their trades, negotiate the prices of the trades and bear counter-party risks.

The new platform acts as a market place that creates the introduction and transparently help them to price the trades, bear the counter-party risks, and provide additional liquidity.

Jin Mei, the People’s Bank of China’s chief representative in Europe, said the new service can help to increase the renminbi’s further offshore trading and investment activities, which will also bolster China’s capital market liberalization.

“China has decided to continue opening up. In the last several years, the PBOC has taken effective steps to reduce forex control and promote renminbi convertibility in a prudent manner,” Jin said.

Jinny Yan, chief China economist at ICBC Standard Bank, said: “The new service will help grow London’s momentum of offshore renminbi trading and investment.”

London is the biggest offshore renminbi foreign exchange trading hub outside Asia.

Data for the first quarter of 2017 collected by the Society for Worldwide Interbank Financial Telecommunication showed that 36.3 percent of global offshore renminbi exchange transactions were conducted through London.

Xinhua

Xinhua News Agency, London, November 29 (Reporter Wen Xiqiang) The cross-border liquidation seminar on foreign exchange transactions was held in London, England recently, and attendees conducted an in-depth discussion on how to promote the internationalization of the renminbi.

Jin Mei, chief representative of the People’s Bank of China’s European Office, said that London, as the world’s major offshore financial market and the second largest offshore renminbi market, can play an important role in the “Belt and Road”. For example, the “One Belt and One Road” project will generate huge financing needs. London can give full play to the advantages of its financial centers and help make the renminbi the investment currency. She hoped that the liquidation of the central counterparty in cross-border foreign exchange transactions being developed by the relevant agencies in China and the United Kingdom would promote the linkage between the financial markets in the two countries and serve the participants in the global foreign exchange market and help the internationalization of the RMB.

City of London officials Carter said cross-border foreign exchange transactions in London local trading platform, and the Shanghai Clearing House to provide centralized clearing services will help give play to the advantages of the two countries ‘financial infrastructure to meet the two countries’ financial institutions for foreign exchange transactions and liquidation Demand, and promote cooperation between financial institutions of the two countries.

Shen Wei, deputy general manager of Shanghai Clearing House, said that in recent years, more and more Chinese elements have emerged in the development of global financial markets and the two-way opening up of China’s financial market has accelerated. On the one hand, the ways in which foreign-funded institutions can invest in the Chinese inter-bank market and the Chinese stock exchange market continue to expand. Various supporting mechanisms such as policy regulation, laws and taxation in the Chinese market continue to improve. On the other hand, Chinese institutions “go global” Interest in more and more, more extensive and in-depth participation in clearing transactions in global financial markets.

He said that the two-way opening up of China’s financial market requires the interconnection of financial infrastructure both at home and abroad and the need to open up more convenient and efficient transaction clearing channels for market participants. The cross-border liquidation of foreign exchange transactions prepared by Shanghai Clearing House and UK R5FX platform is a new exploration of this path.

Cross-border Foreign Exchange Transactions The clearing of central counterparties refers to the operation of Shanghai Clearing House providing clearing-house services to its counterparts on cross-border foreign exchange transactions on the R5FX platform in the United Kingdom. The participants in this business include not only the institutions in China, but also foreign commercial institutions with foreign exchange trading capabilities.

FX168

FX168 Financial News (Hong Kong) Shanghai Clearing House and UK Foreign Exchange Electronic Platform R5FX Plans to Introduce Central Counter-party Clearing Business for Cross-border Foreign Exchange Transactions.

It is understood that the clearing of cross-border foreign exchange operations of the central counterparty refers to the supernatant on the R5FX platform for the UK to reach a specific cross-border foreign exchange transactions provide clearing services center counterparty business.

Business participants include not only domestic institutions in China, but also foreign commercial institutions with foreign exchange trading capabilities. The initial offering includes three currencies, the U.S. dollar against the Hong Kong dollar, the British pound and the Euro (1.1838, 0.0013, 0.11%) against the U.S. dollar, the future According to market demand, we will gradually expand the currency and include derivative products.

Redback Reporter

Shanghai Clearing House Cross Border FX Seminar

On November 28th R5 and the Shanghai Clearing House hosted the Cross-Border FX Seminar, where they announced the formation of Connect, an electronic marketplace, which enables banks in China and offshore Chinese branches to trade G10 currencies and offshore RMB in the London FX market, recognised as the leading centre for FX trading.

R5-SHCH Connect is a joint venture between R5, the emerging markets FX trading marketplace, and the Shanghai Clearing House, the interbank clearinghouse, established to clear and settle China’s financial products. It is the result of the deepening ties between the UK and China in the area of capital markets.

The R5-SHCH Connect marketplace will provide connectivity for banks located in China to directly trade FX in London, including the offshore RMB. By working in cooperation, R5 and the Shanghai Clearing House are demonstrating the close economic ties between the UK and China. R5-SHCH Connect reinforces London’s leading position in global FX, in RMB trading, and in FinTech.

It reflects the rise of the RMB as a global currency, and demonstrates an opening of financial markets through the next stage of China’s international financial reform, by introducing new financial innovation as part of the Belt and Road initiative.

To date, Banks based in China have not been able to trade the offshore RMB easily, but R5-SHCH Connect market for the first time. Institutions already trading in the London market will benefit from additional counterparties and deeper liquidity, provided by new Chinese entrants, and the Shanghai Clearing House will benefit from both international clients and global expansion. The joint venture is expected to deepen the offshore RMB market, and further cement London’s leading position. By providing increased access it is highly likely that more institutions will trade RMB, enhancing liquidity and lowering costs.

Finance Magnates

Shanghai Clearing House Partners with R5FX for Cross Border Clearing

Shanghai Clearing House Partners with R5FX for Cross Border Clearing

The new platform helps Chinese and overseas banks to get access to a more liquid and transparent marketplace.

In what is a first in China, and yet another step in the ongoing process of renminbi internationalization, the Shanghai Clearing House is launching the first cross-border foreign exchange clearing platform.

The project is expected to be deployed next month. London-based R5FX is actively participating in the development and realization of the first Chinese cross-border foreign exchange clearing solution. The company already has expertise in the field with its clearing platform for EMFX traders.

The Shanghai Clearing House will deploy trade clearing infrastructure within mainland China, as R5FX opens access to its clearing infrastructure in London and several other international markets where it is operating like Hong Kong, Singapore, and New York.

Commenting on the project, the general manager of product development department at Shanghai Clearing House, Cheng Leilei, said: “We have chosen London because it is a leading international foreign exchange hub with 40 percent of global foreign exchange trading.”

The new trading platform enables onshore Chinese banks to trade with overseas banks. The initial phase of the product deployment will enable foreign exchange transactions with bonds and derivatives down the pipeline.

Elaborating on the milestone and its importance for renminbi internationalization, the People’s Bank of China’s chief representative in Europe, Jin Mei, said: “China has decided to continue opening up. In the last several years, the PBOC has taken effective steps to reduce foreign exchange controls and prudently promote renminbi convertibility.”

London continues to be a big hub for offshore renminbi trading with its title as the biggest venue for such trades outside of Asia. According to the Society for Worldwide Interbank Financial Telecommunication, during the first quarter of 2017, 36.3 percent of global offshore renminbi exchange transactions were executed via London.

ECNS.cn

http://www.ecns.cn/business/2017/11-29/282608.shtml

New platform in UK to boost RMB internationalization

Next month, Shanghai Clearing House will launch China’s first cross-border foreign exchange clearing platform with a London partner to support China’s further capital market liberalization and renminbi internationalization.

Announcing the news in London Tuesday, Shanghai Clearing House said it will launch the platform in partnership with the London-based R5FX, which is a clearing platform for emerging markets’ foreign exchange trade.

While Shanghai Clearing House will provide trade clearing infrastructure within China, R5FX will provide clearing infrastructure in London and other international markets in which it operates.

The new platform is seen as a vote of confidence in London’s status as a leading international financial hub despite Brexit uncertainties. It builds on increasingly strong China-UK financial collaboration during this “golden era” in the two countries’ relationship, which began with President Xi Jinping’s state visit to the UK in October 2015.

“We have chosen London because it is a leading international foreign exchange hub with 40 percent of global foreign exchange trading,” said Chen Leilei, general manager of the product development department at Shanghai Clearing House.

Effectively, the new platform allows China’s onshore banks to trade with overseas banks. Initially they can trade currencies, but over time products such as bonds and derivatives could be added.

Without the platform, Chinese and overseas banks would need to invest significant time and efforts into finding counterparties willing to accept their trades, negotiating the prices of the trades and bearing counterparty risks.

The new platform acts as a marketplace that creates an introduction and transparently helps them to price the trades, bear the counterparty risks, and provide additional liquidity.

Jin Mei, the People’s Bank of China’s chief representative in Europe, said the new service can help to increase the renminbi’s further offshore trading and investment activities, which will also bolster China’s capital market liberalization.

“China has decided to continue opening up. In the last several years, the PBOC has taken effective steps to reduce forex control and promote renminbi convertibility in a prudent manner,” Jin said.

Jinny Yan, chief China economist at ICBC Standard Bank, said the new service will help to grow London’s momentum in offshore renminbi trading and investment.

Currently London is the biggest offshore renminbi foreign exchange trading hub outside Asia. Data for the first quarter of 2017 collected by the Society for Worldwide Interbank Financial Telecommunication showed that 36.3 percent of global offshore renminbi exchange transactions were conducted through London.

Hu Jinming, co-head of treasury at the China Construction Bank London Branch, the officially appointed renminbi clearing bank in the UK, said the bank will provide settlement support for the new Shanghai Clearing House service. In addition, it also looks to participate in this new cross-border foreign exchange market as a trading party.

Founded in 2009, Shanghai Clearing House clears bonds, interest rates, foreign exchange and exchange rates, and shipping and commodity derivatives. In March it established its first overseas office in London.

Sina

http://finance.sina.com.cn/money/forex/hbfx/2017-11-30/doc-ifyphtze2765304.shtml

http://big5.xinhuanet.com/gate/big5/news.xinhuanet.com/fortune/2017-11/29/c_1122032325.htm

Philip Hammond Announces R5-Shanghai Clearing House Link-Up

Posted on in R5FX Ltd

RichardHammond

Media Coverage – Philip Hammond Announcement

Updated 19 December, 2017

FT

https://www.ft.com/content/c9217794-e0f8-11e7-8f9f-de1c2175f5ce

Philip Hammond opens London forex markets to China banks

December 15

Chinese banks will have direct access to foreign exchange markets in London under plans that UK chancellor Philip Hammond will announce on Saturday during a two-day visit to Beijing.

The initiative is intended to open a new channel for trading the renminbi in London, supporting the internationalisation of the Chinese currency and bringing new business to London’s financial markets as they prepare for Brexit.

The UK government described Mr Hammond’s trip to Beijing as part of “a new phase in the Golden Era of UK-China relations”, with more than £1bn in trade and investment deals set to be agreed over the weekend. Mr Hammond is also due to sit down with Ma Kai, the Chinese vice-premier, during the visit.

The UK government said both sides would use the meeting to reaffirm their commitment to “a deeper trade and investment relationship as the UK builds an economy fit for the future”.

The foreign exchange initiative will give Chinese banks direct access to the “spot” foreign exchange market in London, with trades guaranteed by Shanghai Clearing House. The set-up will provide an alternative to current arrangements, where Chinese and foreign banks deal directly with each other on the “over-the-counter” market.

“The OTC market works perfectly well if you are a Commerzbank or a Credit Suisse trading with each other,” said Jon Vollemaere, chief executive of R5, the London-based fintech firm that will provide the trading platform for Chinese banks. “But if you are a rural Chinese bank, it doesn’t work.

“This creates a very big alternative for [Chinese banks] and will enable them to build relationships with multiple banks around the world,” he added.

Mr Vollemaere described giving Chinese banks direct access to foreign exchange markets in London as “currency connect”.

“Following Stock Connect and Bond Connect, which have worked nicely, this is the next stage,” he said, referring to previous initiatives that gave foreign investors access to China’s equity and bond markets.

The foreign exchange scheme, which will begin trading next week, will initially allow Chinese banks to trade the US dollar for sterling, the euro and the Hong Kong dollar. Eventually — subject to approval by the Chinese central bank — the scheme will allow trading of the offshore renminbi and other currencies.

Beijing’s efforts to establish the renminbi as an international currency have faltered in recent years, despite the Chinese government’s success last year in persuading the International Monetary Fund to add the renminbi to its special “drawing rights” basket, joining the dollar, euro, yen and pound.

Many analysts had expected the renminbi to become more widely used in trade and other transactions after the IMF’s move. But data from Swift, the global bank payment messaging network, show renminbi’s share of international payments fell to just 1.46 per cent in October, down from 1.92 per cent a year earlier, leaving it far behind the dollar, with 39.5 per cent of payments, and the euro, with 34 per cent.

Sue Trinh of RBC Capital Markets blamed Beijing’s “heavy-handed intervention across the financial markets” for eroding the renminbi’s international appeal. The Chinese government has stepped in to control capital flows and limit the supply of credit in China’s economy following a stock market crash in 2015.

FT

https://www.ft.com/content/07a05ac2-e238-11e7-97e2-916d4fbac0da

David Cameron takes senior role in China infrastructure fund

December 16
David Cameron is to take a leadership role in a $1bn investment fund set up to back China’s Belt and Road infrastructure initiative.

The state-endorsed fund will be led by private institutions in UK and China and employ the former UK prime minister in a leadership role that has yet to be defined.

The fund was announced among a raft of new investment agreements finalised during a two-day visit to Beijing by UK Chancellor Philip Hammond as part of efforts to boost global trade ties before the UK leaves the EU in 2019.

Mr Cameron revealed in September that he had discussed a UK-China fund with vice-premier Ma Kai during a trip to Beijing. Mr Cameron has kept a low profile since leaving office last July following the Brexit vote. He has not taken major commercial or diplomatic roles, instead opting to campaign on Alzheimer’s and chair a commission into the effectiveness of aid spending.

The fund and other investment agreements are intended to kick off what both countries called a new phase in the golden era of UK-China relations.

“The China-UK relationship is one of the most important bilateral relationships in the world,” said Mr Ma, part of reassurances from both sides intended to allay worries that ties between the two counties would diminish once the UK exits the EU in March 2019.

Mr Hammond said the UK had committed to avoiding a cliff edge when it leaves the EU. “We’re committed as a result of the agreement we’ve made this week to creating an environment which will effectively replicate the current status quo so businesses can continue trading as they do now, borders will operate as they do now, and financial services will carry on conducting business across the board as they do now,” he said.

The UK has been seeking greater engagement with Chinese financial institutions, and among the agreements announced on Saturday was a direct channel for trading China’s renminbi in London’s foreign exchange markets. R5, a London-based fintech firm, will provide the trading platform for Chinese banks.

There was no word from either side on a launch date for the Shanghai-London Stock Connect. When it was announced in 2015, the connect faced challenges on how to bridge the eight-hour time difference between China and the UK.

China and the UK had “accelerated final preparation” on the connect, said Mr Hammond, and the two countries would begin feasibility studies by allowing companies in each market to list depositary receipts in each other’s market.

The bulk of the trade agreements announced this weekend are pegged to Belt and Road infrastructure, a project to revamp Silk Road commerce between Asia and Europe. UK Export Finance, the export credit agency, will support up to £25bn in BRI projects across Asia.

The UK also unveiled a $50m matching contribution with China for the Asian Infrastructure Investment Bank to expand operations into less developed countries.

The $100bn AIIB was begun in 2015 as China’s equivalent to the World Bank, with the UK as the first western nation to pledge support.

Mr Hammond announced the appointment of Douglas Flint, the former group chairman of HSBC, as the UK Treasury’s Belt and Road envoy, as well as the establishment of as new UK-led BRI expert board to guide investment.

“China and the UK have a very close fit, where China has huge manufacturing and construction capability and huge pools of capital available,” Mr Hammond said. “Whereas UK has great expertise in project finance and legal skills.”

Sina

http://finance.sina.com.cn/roll/2017-12-16/doc-ifyptfcn1183434.shtml

Reports on Policy Outcomes – including R5 SHCH

Finextra

https://www.finextra.com/pressarticle/72008/uk-chancellor-announces-formation-of-r5-shch-connect-between-shanghai-and-london/wholesale

UK Chancellor announces formation of R5-SHCH Connect between Shanghai and London

The UK Chancellor of the Exchequer, Philip Hammond, has formally announced the formation of R5-SHCH Connect, a partnership between R5, the London FinTech leading the digital transformation of Emerging Markets Foreign Exchange trading, and the Shanghai Clearing House, the financial market infrastructure, established to clear and settle China’s financial products.

During last week’s UK-China Economic and Financial Dialogue, Chinese Vice-Premier Ma Kai met with the Chancellor in Beijing. At the conclusion of the meeting, a series of financial trade agreements were announced, including R5-SHCH Connect, a financial market infrastructure that connects banks in China directly with the London FX market. R5-SHCH Connect demonstrates the close cooperation that exists between the UK and China under the framework of the Belt and Road initiative, and is a direct result of the deepening economic ties between the two countries.

Mr Hammond commented, “As the Renminbi becomes increasingly international, and as China continues to drive forward hugely transformative initiatives, such as the Belt and Road project, I believe that Britain can be China’s natural partner in the West for delivering these ambitious projects.”

Jon Vollemaere, CEO of R5 commented, “R5-SHCH Connect is an infrastructure that enables banks in China to trade FX in London, the largest and most liquid FX market. It is a key component of RMB Internationalisation, and will cement London’s position as the leading global financial centre. This is a great example of the UK and China working in collaboration, with R5 and the Shanghai Clearing House providing complimentary services, and recognising the importance of a strong partnership, to deliver new and innovative services.”

R5-SHCH Connect is an electronic marketplace, which enables banks located in China to trade offshore RMB and other currencies in the London FX market. It acts as a high-speed link between China and London, which provides Chinese banks with increased access to FX trading, enhances liquidity in major currencies and advances the Internationalisation of the RMB.

R5-SHCH Connect reinforces London’s leading position in global FX, in RMB trading, and in FinTech. It reflects the rise of the RMB as a global currency, and demonstrates the next stage of China’s International financial reform, by introducing new financial innovation as part of the Belt and Road initiative.

To date, banks based in China have not been able to trade the offshore RMB easily, but R5-SHCH Connect allows them to access this market for the first time. Institutions already trading in the London market will benefit from additional counterparties and deeper liquidity, provided by new Chinese entrants.

R5-SHCH Connect will launch with 8 Chinese banks connecting to the London FX market, with further onshore Chinese banks being added in early 2018.

The UK government has published Policy Outcomes of the 9th UK-China Economic and Financial Dialogue, which makes further reference to R5-SHCH Connect and to the internationalisation of the RMB, as follows:

“Both sides welcome the agreement reached between Shanghai Clearing House and R5, the London based Capital Market Fintech, to create a Cross Border FX Clearing Solution.”

“Both sides welcome the internationalization of the RMB and recognize London’s vital role in supporting global use of the RMB and facilitating international access to China’s domestic capital market.”

“Both sides agree to continue to promote the China-UK cross-border RMB business and support the use of RMB as the settlement currency in bilateral trade and investment. Both sides support the UK RMB clearing banks to fulfil their role to promote the development of the off-shore RMB market in London.”

Mondo Visione

http://www.mondovisione.com/media-and-resources/news/uk-chancellor-of-the-exchequer-philip-hammond-announces-r5-shch-connect-new-se/

UK Chancellor of The Exchequer Philip Hammond Announces R5-SHCH Connect – New Service Will Connect Banks in China With London’s FX Market

The UK Chancellor of the Exchequer, Philip Hammond, has formally announced the formation of R5-SHCH Connect, a partnership between R5, the London FinTech leading the digital transformation of Emerging Markets Foreign Exchange trading, and the Shanghai Clearing House, the financial market infrastructure, established to clear and settle China’s financial products.

During last week’s UK-China Economic and Financial Dialogue, Chinese Vice-Premier Ma Kai met with the Chancellor in Beijing. At the conclusion of the meeting, a series of financial trade agreements were announced, including R5-SHCH Connect, a financial market infrastructure that connects banks in China directly with the London FX market. R5-SHCH Connect demonstrates the close cooperation that exists between the UK and China under the framework of the Belt and Road initiative, and is a direct result of the deepening economic ties between the two countries.

Mr Hammond commented, “As the Renminbi becomes increasingly international, and as China continues to drive forward hugely transformative initiatives, such as the Belt and Road project, I believe that Britain can be China’s natural partner in the West for delivering these ambitious projects.”

Jon Vollemaere, CEO of R5 commented, “R5-SHCH Connect is an infrastructure that enables banks in China to trade FX in London, the largest and most liquid FX market. It is a key component of RMB Internationalisation, and will cement London’s position as the leading global financial centre. This is a great example of the UK and China working in collaboration, with R5 and the Shanghai Clearing House providing complimentary services, and recognising the importance of a strong partnership, to deliver new and innovative services.”

R5-SHCH Connect is an electronic marketplace, which enables banks located in China to trade offshore RMB and other currencies in the London FX market. It acts as a high-speed link between China and London, which provides Chinese banks with increased access to FX trading, enhances liquidity in major currencies and advances the Internationalisation of the RMB.

R5-SHCH Connect reinforces London’s leading position in global FX, in RMB trading, and in FinTech. It reflects the rise of the RMB as a global currency, and demonstrates the next stage of China’s International financial reform, by introducing new financial innovation as part of the Belt and Road initiative.

To date, banks based in China have not been able to trade the offshore RMB easily, but R5-SHCH Connect allows them to access this market for the first time. Institutions already trading in the London market will benefit from additional counterparties and deeper liquidity, provided by new Chinese entrants.

R5-SHCH Connect will launch with 8 Chinese banks connecting to the London FX market, with further onshore Chinese banks being added in early 2018.

The UK government has published Policy Outcomes of the 9th UK-China Economic and Financial Dialogue, which makes further reference to R5-SHCH Connect and to the internationalisation of the RMB, as follows:

“Both sides welcome the agreement reached between Shanghai Clearing House and R5, the London based Capital Market Fintech, to create a Cross Border FX Clearing Solution.”

“Both sides welcome the internationalization of the RMB and recognize London’s vital role in supporting global use of the RMB and facilitating international access to China’s domestic capital market.”

“Both sides agree to continue to promote the China-UK cross-border RMB business and support the use of RMB as the settlement currency in bilateral trade and investment. Both sides support the UK RMB clearing banks to fulfil their role to promote the development of the off-shore RMB market in London.”

LeapRate

 

UK Chancellor announces R5-SHCH Connect, partnership between London R5 and Shanghai Clearing House

DECEMBER 18, 2017 —BY VALENTINA KIRILOVA

The UK Chancellor of the Exchequer, Philip Hammond, has formally announced the formation of R5-SHCH Connect, a partnership between R5, the London FinTech leading the digital transformation of Emerging Markets Foreign Exchange trading, and the Shanghai Clearing House, the financial market infrastructure, established to clear and settle China’s financial products.

During last week’s UK-China Economic and Financial Dialogue, Chinese Vice-Premier Ma Kai met with the Chancellor in Beijing. At the conclusion of the meeting, a series of financial trade agreements were announced, including R5-SHCH Connect, a financial market infrastructure that connects banks in China directly with the London FX market. R5-SHCH Connect demonstrates the close cooperation that exists between the UK and China under the framework of the Belt and Road initiative, and is a direct result of the deepening economic ties between the two countries.

Mr Hammond commented:

As the Renminbi becomes increasingly international, and as China continues to drive forward hugely transformative initiatives, such as the Belt and Road project, I believe that Britain can be China’s natural partner in the West for delivering these ambitious projects.

Jon Vollemaere, CEO of R5 added:

R5-SHCH Connect is an infrastructure that enables banks in China to trade FX in London, the largest and most liquid FX market. It is a key component of RMB Internationalisation, and will cement London’s position as the leading global financial centre. This is a great example of the UK and China working in collaboration, with R5 and the Shanghai Clearing House providing complimentary services, and recognising the importance of a strong partnership, to deliver new and innovative services.

R5-SHCH Connect is an electronic marketplace, which enables banks located in China to trade offshore RMB and other currencies in the London FX market. It acts as a high-speed link between China and London, which provides Chinese banks with increased access to FX trading, enhances liquidity in major currencies and advances the Internationalisation of the RMB.

R5-SHCH Connect reinforces London’s leading position in global FX, in RMB trading, and in FinTech. It reflects the rise of the RMB as a global currency, and demonstrates the next stage of China’s International financial reform, by introducing new financial innovation as part of the Belt and Road initiative.

To date, banks based in China have not been able to trade the offshore RMB easily, but R5-SHCH Connect allows them to access this market for the first time.

Institutions already trading in the London market will benefit from additional counterparties and deeper liquidity, provided by new Chinese entrants.

R5-SHCH Connect will launch with 8 Chinese banks connecting to the London FX market, with further onshore Chinese banks being added in early 2018.

The UK government has published Policy Outcomes of the 9th UK-China Economic and Financial Dialogue, which makes further reference to R5-SHCH Connect and to the internationalisation of the RMB, as follows:

Both sides welcome the agreement reached between Shanghai Clearing House and R5, the London based Capital Market Fintech, to create a Cross Border FX Clearing Solution.

Both sides welcome the internationalization of the RMB and recognize London’s vital role in supporting global use of the RMB and facilitating international access to China’s domestic capital market.

Both sides agree to continue to promote the China-UK cross-border RMB business and support the use of RMB as the settlement currency in bilateral trade and investment. Both sides support the UK RMB clearing banks to fulfil their role to promote the development of the off-shore RMB market in London.

FinTech Insider

https://fintechinsidernews.com/posts/3JbxqFqd2Nbi5R3C4/uk-chancellor-announces-formation-of-r5-shch-connect-between

UK Chancellor announces formation of R5-SHCH Connect between Shanghai and London

Same as Finextra

Military Technologies

http://www.military-technologies.net/2017/12/18/hong-kong-london-financial-services-forum-2017-with-photos/

Participants from London noted the UK was now responsible for 36 per cent of RMB foreign exchange payments conducted outside of China, and that 50 per cent of UK-based financial institutions were using the RMB to exchange payments with Mainland China and Hong Kong. Average daily RMB trading volumes stood at £50 billion by the end of June, and the UK welcomed the announcement this month of a connect partnership between R5FX and Shanghai Clearing House, committing both sides to launch an electronic spot trading platform in the near future. Both sides also welcomed the acceleration of preparations for the London-Shanghai Stock Connect, confirmation that it will utilise a depository receipt structure to facilitate two-way trading, launch of a feasibility study and working group regarding creation of a UK-China Bond Connect, and announcement of a feasibility study into the mutual recognition of funds between the UK and China.

Automated Trader

http://www.automatedtrader.net/news/at/158525/uk-chancellor-announces-r5_shch-connect-between-shanghai-and–london

UK Chancellor announces R5-SHCH Connect between Shanghai and London

First Published 18th December 2017

New service will connect banks in China with London’s FX market

The UK Chancellor of the Exchequer, Philip Hammond, has formally announced the formation of R5-SHCH Connect, a partnership between R5, the London FinTech leading the digital transformation of Emerging Markets Foreign Exchange trading, and the Shanghai Clearing House, the financial market infrastructure, established to clear and settle China’s financial products.

At the conclusion of last week’s UK-China Economic and Financial Dialogue a series of financial trade agreements were announced, including R5-SHCH Connect, a financial market infrastructure that connects banks in China directly with the London FX market.

Mr Hammond commented, “As the Renminbi becomes increasingly international, and as China continues to drive forward hugely transformative initiatives, such as the Belt and Road project, I believe that Britain can be China’s natural partner in the West for delivering these ambitious projects.”

R5-SHCH Connect will launch with 8 Chinese banks connecting to the London FX market, with further onshore Chinese banks being added in early 2018.

Further information – Policy Outcomes of the 9th UK-China Economic and Financial Dialogue

GlobalRMB

London-Shanghai FX link to bolster CNH liquidity

Offshore renminbi liquidity could get a shot in the arm as Shanghai Clearing House (SHCH) joins hands with R5, a London-based FX platform, to create a link between the FX markets in the UK and China. The move is also set to widen Chinese banks’ access to global currencies.

Reuters (Chinese)

https://cn.reuters.com/article/shanghai-clearing-r5fx-crossborder-fx-bu-idCNKBS1EC0TR

Also covered in Finet.HK – links to Finextra


Blog post on XRP CHAT

UK Chancellor Of The Exchequer Philip Hammond Announces R5-SHCH Connect – New Service Will Connect Banks In China With London’s FX Market

http://m.mondovisione.com/media-and-resources/news/uk-chancellor-of-the-exchequer-philip-hammond-announces-r5-shch-connect-new-se/

 

 

Endeavour Backed R5FX Ltd and Shanghai Clearing House in Successful City FX Launch 28.11.2017

Posted on 4th December 2017 in R5FX Ltd

R5FX Launch

Bill Cunningham with Shanghai Clearing House Senior Representative 28.11.2017

Mei Jin, chief representative from the People’s Bank of China (PBoC) European Representative Office, says she hopes the new Connect service initiative would act as a high-speed link between China and London’s FX markets while also further promoting RMB internalisation.

R5.SHCH teams

Shanghai Clearing House Delegation with R5FX’s Jon Vollemaere and Staff at the London Launch.

Endeavour Investee R5FX and Shanghai Clearing House to Launch FX Trading Platform

Posted on in R5FX Ltd

Media Coverage – R5-SHCH Connect

Profit&Loss

https://www.profit-loss.com/articles/news/exchanges-clearing/r5fx-shanghai-clearing-house-to-launch-fx-trading-platform

 

R5FX, Shanghai Clearing House to Launch FX Trading Platform

December 1st 2017

R5FX Shanghai Clearing House SCH RMB ChinaShare to More

R5FX and the Shanghai Clearing House (SHCH) will launch a new electronic marketplace next month, in a move which will enable Chinese banks to directly trade offshore RMB with London for the first time.

 

The platform, called Connect, is due to go-live on 18 December – following confirmation from the People’s Bank of China. Eight Chinese banks will be participating from launch, with further banks and institutions to be added at a later date.

 

The products available for trading in this first phase will be USD/HKD, GBP/USD and EUR/USD. Profit & Loss understands CNH and the remaining G10 currency pairs may also be added towards the end of Q1 2018.

 

“This partnership is all about connecting Chinese banks with the London FX market and giving them equal access to deep liquidity,” says Jon Vollemaere, CEO and founder of R5. “Connect opens up the London FX market to Chinese banks and our central credit and clearing model means they can trade with an expanded group of counterparties and trade on the best prices.”

 

Shanghai-based banks will start using the platform from phase one, followed by further banks across China. There are a further 17 banks based in Shanghai which are also expected to be onboarded to Connect – and a further 30 institutions which R5 aims to add in the platform’s second phase.

 

They will also be able to use R5’s central clearing and credit platform, R5C3, with R5 directing these trades to SHCH for settlement.

Connect is an additional service specifically designed for Chinese banks, with the potential to also offer these institutions access to R5’s suite of emerging market currencies in the future.

 

Initial volumes in RMB transactions are expected to be in the region of USD 2 billion. R5 and SHCH also plan to extend the offering to include swaps, forwards and bonds, while also branching out into additional RMB offshore markets such as Hong Kong, Singapore and New York.

 

“R5 and SHCH are working in partnership to deliver true innovation,” Vollemaere adds. “Not only is this expected to increase liquidity in the global FX market, but it will also strengthen London’s position as a major offshore RMB centre.”

 

The news was announced at SHCH’s inaugural London seminar on cross-border FX this week, which was co-hosted with R5 and the China Construction Bank.

 

Mei Jin, chief representative from the People’s Bank of China (PBoC) European Representative Office, says she hopes the new Connect service initiative would act as a high-speed link between China and London’s FX markets while also further promoting RMB internalisation.

 

“China continues to open up,” Jin adds. “In the last several years, the PBoC has taken effective steps to reduce FX controls and promote renminbi convertibility in a prudent manner.”

 

Ben Cackett, head of global exports and investment for the City of London also welcomed the new clearing service, adding that the model of conducting cross-border transactions on the London based e-platfrom and clearing centrally by SHCH will give “full play to the advantages of the infrastructures in both countries and satisfying the FX trading and clearing needs of each side”.

 

China Daily

http://www.chinadaily.com.cn/bizchina/2017-11/30/content_35130597.htm

 

 

Finance Magnates

Shanghai Clearing House Partners with R5FX for Cross Border Clearing

 

Shanghai Clearing House Partners with R5FX for Cross Border Clearing

 

The new platform helps Chinese and overseas banks to get access to a more liquid and transparent marketplace.

 

In what is a first in China, and yet another step in the ongoing process of renminbi internationalization, the Shanghai Clearing House is launching the first cross-border foreign exchange clearing platform.

 

The project is expected to be deployed next month. London-based R5FX is actively participating in the development and realization of the first Chinese cross-border foreign exchange clearing solution. The company already has expertise in the field with its clearing platform for EMFX traders.

 

The Shanghai Clearing House will deploy trade clearing infrastructure within mainland China, as R5FX opens access to its clearing infrastructure in London and several other international markets where it is operating like Hong Kong, Singapore, and New York.

 

Commenting on the project, the general manager of product development department at Shanghai Clearing House, Cheng Leilei, said: “We have chosen London because it is a leading international foreign exchange hub with 40 percent of global foreign exchange trading.”

 

The new trading platform enables onshore Chinese banks to trade with overseas banks. The initial phase of the product deployment will enable foreign exchange transactions with bonds and derivatives down the pipeline.

 

Elaborating on the milestone and its importance for renminbi internationalization, the People’s Bank of China’s chief representative in Europe, Jin Mei, said: “China has decided to continue opening up. In the last several years, the PBOC has taken effective steps to reduce foreign exchange controls and prudently promote renminbi convertibility.”

 

London continues to be a big hub for offshore renminbi trading with its title as the biggest venue for such trades outside of Asia. According to the Society for Worldwide Interbank Financial Telecommunication, during the first quarter of 2017, 36.3 percent of global offshore renminbi exchange transactions were executed via London.

 

Sina

http://finance.sina.com.cn/money/forex/hbfx/2017-11-30/doc-ifyphtze2765304.shtml

 

http://big5.xinhuanet.com/gate/big5/news.xinhuanet.com/fortune/2017-11/29/c_1122032325.htm

 

Ebury part of the Tech Track 100 for the second year running

Posted on 13th September 2017 in R5FX Ltd

We’re very pleased to be announced as one of the UK’s fastest-growing technology companies for a second year running!

100

Ebury placed 51st in the Sunday Times Tech Track 100, announced on the 10th September. The Sunday Times Tech Track 100 league table ranks Britain’s 100 private tech companies with the fastest-growing sales over the last three years.

Being included in the Tech Track is a reflection of our dedication to constantly improving our technology to be truly fintech and the positive impact this has had on the services we offer to SMEs.

Thank you to all who have supported us so far – this result would not be possible without our loyal and growing customer base supported by our dedicated team of specialists.

 

Source: http://www.fasttrack.co.uk Date: 11/09/2017

 

Ebury combines financial services expertise with innovative technologies to enable all businesses to trade internationally. We provide a unique combination of payments, risk management and import lending solutions to over 24,000 organisations across 20 countries.

Endeavour Clients See 130X Returns from Blue Prism Group PLC

Posted on 8th September 2017 in R5FX Ltd

Awards

PRESS RELEASE:

ENDEAVOUR VENTURES NAMED AS A FINALIST
AT 2017 GROWTH INVESTOR AWARDS

 

  • Endeavour Ventures will be competing against other finalists including Mercia Technologies and Stellar Asset Management in the Exit of the Year category.
  • Winners will be announced at a black tie awards dinner taking place on Wednesday 8 November at Royal Lancaster Hotel, Lancaster Gate, London.
  • Visit com/finalists for a full list of all finalists and information on how to attend the event.

Endeavour Ventures has been shortlisted for Exit of the Year at the 2017 Growth Investor Awards, which celebrate the role of the UK’s investment provider community in championing tax-advantaged investments, spotting growth potential and backing outstanding UK small and medium-size enterprises (SMEs).

 

Launched by Intelligent Partnership in 2015, the Growth Investor Awards celebrate the UK’s SME investment community’s contribution towards innovation, technology, and job and wealth creation. The awards specifically acknowledge those companies and individuals who are helping start-up and ‘scale-up’ businesses realise their full potential and power Britain’s economy.

 

This year’s expanded award programme features 16 categories including Best Investment Platform, Growth Champion of the Year, Most Impactful Investment, Industry Game Changer and Best Angel Syndicate.

 

Endeavour Ventures will be competing in the Exit of the Year category alongside the following finalists: Mercia Technologies, Parkwalk Advisors, Stellar Asset Management and YFM Equity Partners. The winner will be announced at an exclusive black tie awards dinner, which will be held on Wednesday 8 November at the Royal Lancaster Hotel, Lancaster Gate, London.

Commenting on the award nomination, Bill Cunningham, Director and Co-Founder said said: “This reflects the exceptional outcomes achieved for HNW investors when a modest amount of investment capital is used to create successful growth business. The talented founder has grown with the business, demonstrated a consistent vision, and been balanced by a sage and supportive board and Chairman. The AIM flotation was well-managed and the share performance since has been impressive. Our initial investors paid an average entry price of 8p and shares were trading between £10.50 and £11.00 this week”.

Guy Tolhurst, Managing Director of Intelligent Partnership, said: “The Growth Investor Awards measure the impact of talent, technology and innovative thinking within Britain’s thriving smaller-company ecosystem. We want to honour all those industry leaders who day-in, day-out display the ability, bravery and commitment needed to back entrepreneurs and help drive Britain’s economic growth from the bottom up.

 

“We are delighted that the role played by Endeavour Ventures has been recognised with this 2017 Growth Investor Awards shortlisting, within a fiercely contested category. I’d like to personally wish Endeavour Ventures the very best of luck, and we hope to see you on the winners’ stage in November.”

Finalists will now move on to a second round of judging to determine the winner in each award category. Daniel Kiernan, Intelligent Partnership’s Research Director heads up the Advisory Board, which represents different sections of the fund management, alternative investment and SME community. He said: “These awards were designed in consultation with the SME industry. An independent panel of judges for each category is drawn from within and outside the industry – to bring a range of perspectives and to provide a level playing field. Having such a robust and comprehensive judging process really underscores the credibility and prestige of these awards.”

Advisory Board member Tim Hames —Director General of the British Private Equity & Venture Capital Association (BVCA) — said: “Competitive advantage doesn’t go to the nations that focus on creating companies; it goes to the nations that focus on scaling them. The Growth Investor Awards recognise the broader contribution of the SME fund management community to scale up growth and those best optimising investment and support.”

2017 Growth Investor Awards: Categories

  1. Industry Champion
  2. Exit of the Year
  3. Most Impactful Investment (sponsored by Bates Wells Braithwaite Compliance)
  4. Industry Game Changer (sponsored by MICAP)
  5. Best Investment Platform
  6. Best Angel Syndicate
  7. Best SEIS Investment Manager (sponsored by RW Blears Solicitors)
  8. Best BPR Investment Manager (sponsored by Reyker Securities)
  9. Best AIM Investment Manager
  10. Best EIS Investment Manager (sponsored by Mainspring Fund Services)
  11. Best VCT Investment Manager
  12. Financial Adviser of the Year (sponsored by LGBR Capital)
  13. Wealth Manager of the Year (sponsored by RAM Capital Partners)
  14. Corporate Investor of the Year
  15. Growth Champion of the Year (sponsored by Smith & Williamson)
  16. Growth Investor of the Year (sponsored by Beauhurst)

 

Visit growthinvestorawards.com/finalists for a full list of all finalists and information on how to attend the event.

– Ends –

Notes for editors

 

About the Growth Investor Awards
Intelligent Partnership launched the Growth Investor Awards in 2015, to celebrate the role of the fund management industry in job and wealth creation, and to recognise those companies that enable start-up and scale up businesses to realise their full potential and drive Britain’s economic growth. Information about previous award winners, judges and criteria for each award can be found at growthinvestorawards.com.

 

The 2017 Growth Investor Awards are supported by a family of sponsors including Smith & Williamson, Bates Wells Braithwaite, Beauhurst, MICAP, RAM Capital Partners, Reyker, LGBR Capital, Mainspring Fund Services and RW Blears. Partners including the BVCA, Citigate Dewe Rogerson, EISA, UKCFA, Centre for Entrepreneurs, The Entrepreneur Network and The Supper Club and media partners Money Marketing and Fund Strategy also support the awards.

 

The Advisory Board includes Irene Graham, CEO of the Scale Up Institute; Luke Johnson, Chairman of Risk Capital Partners; Claire Cockerton, Founder and Ambassador of Innovate Finance; Tim Hames, Director General of the British Private Equity and Venture Capital Association (BVCA); Emma Jones MBE, CEO of Enterprise Nation; Simon Devonshire OBE, Entrepreneur in Residence at BIS; and Michael Hayman MBE, Co-founder of Seven Hills.

 

Last year’s ceremony was attended by over 400 industry professionals and included a scene-setting film about growth capital, with perspectives from a range of founders supported by finalists that have benefited from investment and associated support. The event also featured keynote speeches from Iain Wright, MP for Hartlepool and Chairman of the Business, Energy and Industrial Strategy Select Committee, and Lord Karan Bilimoria CBE, founder of Cobra Beer and founding chairman of the UK India Business Council.

 

About Intelligent Partnership

As the UK’s leading curator of education and insights on alternative investments, Intelligent Partnership increases awareness and engagement amongst intermediaries, providing them with the tools and information to speak knowledgeably with their clients about a broader range of investment options. Insights are delivered year-round through a programme of content that includes award-winning digital and printed reports, video content, and live events – which are accredited by the Chartered Insurance Institute (CII), Personal Finance Society (PFS) and the Institute for Securities & Investment (CISI) for CPD purposes. This content is aimed at subscriber community of advisers, wealth managers and financial services professionals who are interested or active in alternative investments. For more, visit intelligent-partnership.com.


Media enquiries

For more information about the Growth Investor Awards or to arrange interviews, contact Michelle Powell on 020 3375 1705 or email michelle@intelligent-partnership.com.