Leonteq, a Zurich-based fintech firm that operates a market for structured funding merchandise, has lowered its revenue expectations for this 12 months attributable to a drop in buyer calls for within the second half of 2022.
The Swiss fintech recorded continued decline in shopper calls for because of the general troublesome nature of present market situations. Nevertheless, the agency mentioned its month-to-month web earnings charge remained secure through the interval.
“On the identical time, Leonteq continued to keep up a prudent strategy to threat administration with its web buying and selling consequence compensating for subdued shopper exercise, notably within the third quarter of 2022,” the corporate mentioned in a enterprise replace. It added, “Because of this, Leonteq expects to report a bunch web revenue for 2022 within the space of the prior-year file results of CHF 155.7 million, equal to EPS of CHF 8.47 (earlier steering was to exceed the prior 12 months’s group web revenue).”
Earlier in October, whistleblowers in a Monetary Instances report accused Ernst & Younger International Restricted, one of many Massive 4 accounting companies, of whitewashing suspicious trades it discovered within the firm’s information. Nevertheless, Leonteq in its response rejected the allegations.
In accordance with the Swiss fintech, each inner and exterior investigations into its information discovered no proof to corroborate the allegations. “Leonteq strongly refutes these allegations, which had been first raised internally in 2021 and had been totally investigated by Leonteq’s Compliance division,” Reuters quoted the corporate as saying in an announcement.
Leonteq Helps Swissquote Change into Structured Merchandise Issuer
In the meantime, earlier within the 12 months, Swissquote grew to become an issuer of structured Invesment merchandise by partnering with Leonteq. Beneath the collaboration, the monetary companies supplier issued its personal structured product beneath the model, Yield Booster.
“Swissquote’s Yield Boosters are quanto derivatives, that means the underlying is expressed in a single forex, and settled in one other. This offers buyers publicity to international property with out a corresponding alternate price threat,” Swissquote defined on its web site.
Leonteq, a Zurich-based fintech firm that operates a market for structured funding merchandise, has lowered its revenue expectations for this 12 months attributable to a drop in buyer calls for within the second half of 2022.
The Swiss fintech recorded continued decline in shopper calls for because of the general troublesome nature of present market situations. Nevertheless, the agency mentioned its month-to-month web earnings charge remained secure through the interval.
“On the identical time, Leonteq continued to keep up a prudent strategy to threat administration with its web buying and selling consequence compensating for subdued shopper exercise, notably within the third quarter of 2022,” the corporate mentioned in a enterprise replace. It added, “Because of this, Leonteq expects to report a bunch web revenue for 2022 within the space of the prior-year file results of CHF 155.7 million, equal to EPS of CHF 8.47 (earlier steering was to exceed the prior 12 months’s group web revenue).”
Earlier in October, whistleblowers in a Monetary Instances report accused Ernst & Younger International Restricted, one of many Massive 4 accounting companies, of whitewashing suspicious trades it discovered within the firm’s information. Nevertheless, Leonteq in its response rejected the allegations.
In accordance with the Swiss fintech, each inner and exterior investigations into its information discovered no proof to corroborate the allegations. “Leonteq strongly refutes these allegations, which had been first raised internally in 2021 and had been totally investigated by Leonteq’s Compliance division,” Reuters quoted the corporate as saying in an announcement.
Leonteq Helps Swissquote Change into Structured Merchandise Issuer
In the meantime, earlier within the 12 months, Swissquote grew to become an issuer of structured Invesment merchandise by partnering with Leonteq. Beneath the collaboration, the monetary companies supplier issued its personal structured product beneath the model, Yield Booster.
“Swissquote’s Yield Boosters are quanto derivatives, that means the underlying is expressed in a single forex, and settled in one other. This offers buyers publicity to international property with out a corresponding alternate price threat,” Swissquote defined on its web site.
