Leonteq, a Zurich-based fintech firm that operates a market for structured funding merchandise, has lowered its revenue expectations for this yr as a consequence of a drop in buyer calls for within the second half of 2022.
The Swiss fintech recorded continued decline in consumer calls for because of the total troublesome nature of present market situations. Nevertheless, the agency mentioned its month-to-month internet revenue charge remained secure throughout the interval.
“On the similar time, Leonteq continued to take care of a prudent method to danger administration with its internet buying and selling consequence compensating for subdued consumer 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 internet 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 steerage was to exceed the prior yr’s group internet revenue).”
Earlier in October, whistleblowers in a Monetary Instances report accused Ernst & Younger International Restricted, one of many Massive 4 accounting corporations, of whitewashing suspicious trades it discovered within the firm’s data. Nevertheless, Leonteq in its response rejected the allegations.
In keeping with the Swiss fintech, each inner and exterior investigations into its data discovered no proof to corroborate the allegations. “Leonteq strongly refutes these allegations, which had been first raised internally in 2021 and had been completely investigated by Leonteq’s Compliance division,” Reuters quoted the corporate as saying in an announcement.
Leonteq Helps Swissquote Turn out to be Structured Merchandise Issuer
In the meantime, earlier within the yr, Swissquote turned an issuer of structured Invesment merchandise by partnering with Leonteq. Underneath the collaboration, the monetary providers 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 provides traders publicity to overseas belongings with no corresponding alternate price danger,” 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 yr as a consequence of a drop in buyer calls for within the second half of 2022.
The Swiss fintech recorded continued decline in consumer calls for because of the total troublesome nature of present market situations. Nevertheless, the agency mentioned its month-to-month internet revenue charge remained secure throughout the interval.
“On the similar time, Leonteq continued to take care of a prudent method to danger administration with its internet buying and selling consequence compensating for subdued consumer 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 internet 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 steerage was to exceed the prior yr’s group internet revenue).”
Earlier in October, whistleblowers in a Monetary Instances report accused Ernst & Younger International Restricted, one of many Massive 4 accounting corporations, of whitewashing suspicious trades it discovered within the firm’s data. Nevertheless, Leonteq in its response rejected the allegations.
In keeping with the Swiss fintech, each inner and exterior investigations into its data discovered no proof to corroborate the allegations. “Leonteq strongly refutes these allegations, which had been first raised internally in 2021 and had been completely investigated by Leonteq’s Compliance division,” Reuters quoted the corporate as saying in an announcement.
Leonteq Helps Swissquote Turn out to be Structured Merchandise Issuer
In the meantime, earlier within the yr, Swissquote turned an issuer of structured Invesment merchandise by partnering with Leonteq. Underneath the collaboration, the monetary providers 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 provides traders publicity to overseas belongings with no corresponding alternate price danger,” Swissquote defined on its web site.
