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APPRENTICE WINNER OFFERS LIFE CHANGING OPPORTUNITY

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OSTC Ltd, a global derivatives trading and education business, has brought former UK Government advisor, social enterprise entrepreneur and youth employment ambassador Tim Campbell MBE on board to launch Trading Futures – a life-changing opportunity to become a trader that is open to everyone. Trading positions are some of the highest paying roles in the City.  In 2019 the Guardian (check the source) recorded that a trader with a decade or more experience earns, on average, £400,000 to £600,000 annually, while a junior trader with around two years experience would make £49,000 to £90,000 depending on their performance.

The City has a reputation of not only being ‘male, pale and stale’ but also very posh. According to recent research commissioned by the City of London Corporation, almost nine in ten senior roles in financial services are held by people from higher socio-economic backgrounds.  This compares with a third of the UK working population as a whole. It also found that employees from less privileged backgrounds take 25% longer to progress, despite no evidence of poorer performance. Dozens of diversity initiatives and box-ticking exercises have done little to change actual outcomes.

It’s time for a radical rethink.

 

Trading Places

Trading Futures is the opportunity to become a trader which is open to everyone. Applicants don’t need to talk with a plum in their mouth, have a first-class red-brick degree or have a relative on the board…OSTC is seeking the very best talent regardless of their experience or background.

Tim Campbell MBE

Tim Campbell said: “Trading Futures isn’t just another graduate scheme or accelerator programme that doesn’t lead anywhere; this life-changing opportunity is genuinely open to everyone. I don’t care what school applicants went to, what qualifications they have or don’t have. If they think they have what it takes, I want to speak to them!” 

 

No Experience or Qualifications Necessary

Trading Futures is a completely unique proposition, offering anyone the opportunity to be within the top-earning tax bracket in a relatively short space of time, regardless of previous work experience or qualifications. You don’t need any qualifications to apply only numeracy skills, a great work ethic and the ability to work from home.

 

Earn as you Learn

A career change, starting something unknown or investing in a return to education can be very daunting, particularly for those who have been ‘adulting’ for a while and have household expenses. OSTC will pay successful applicants whilst they complete the year-long training course. Many young people face the age-old catch-22 that they can’t get a job without experience and they can’t get experience without a job. This disadvantages those not fortunate enough to have the bank of Mum and Dad to fund their career aspirations and their ability to intern to gain experience.

 

Age ain’t Nothing but a Number

Potential applicants shouldn’t be put off by the job title ‘Junior Trader’ as this just means that it’s an entry-level position; Trading Futures is open to anyone of any age. It doesn’t matter whether an applicant is an 18-year-old school leaver or a middle-aged retail worker who has found themselves out of work during the pandemic. The only requirements are aptitude and attitude. This is true meritocracy.

 

Gender

Movies like ‘The Wolf of Wall Street’ have done little to make financial services seem like a female-friendly working environment. OSTC, with its target to have a third of its board being female by 2023, are keen to attract more women to the sector by offering this unique way of starting a career as a trader.

 

Levelling up

The Government has long promised to ‘level up’ the UK economy, reduce the North/South divide and get the Northern Powerhouse firing on all cylinders.  However, the reality facing those wanting to forge a career in several sectors has traditionally been to move to the capital to do so.

As U.K. Plc gears up to collectively return to the office once Covid-19 restrictions are lifted, it is likely that the previous status quo will return for many.  Trading Futures has the advantage of being 100% home-based, with all the equipment given cost-free to successful applicants. This opens the opportunity to people across the U.K. without having to completely uproot their entire lives to do so.

 

Bedroom Traders

The recent GameStop story saw many bedroom traders take on hedge funds. Whilst trading platforms and social media influencers can make it seem like the road to untold riches, many are left in the red having lost thousands of pounds. Trading Futures allows those with little or no experience the life-changing opportunity to learn about ‘real’ trading from the ground up and be paid to do so.

 

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ACCESSPAY AND YAPILY PARTNER TO RE-DEFINE CORPORATE CASH MANAGEMENT

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FinTech scale-up AccessPay is pioneering a new Treasury solution for corporates, using Open Banking.

Enabled by Yapily, a leading Open Banking infrastructure provider, it will provide thousands of UK businesses real-time visibility into their cash position and transaction flows.

The integration enables AccessPay users to connect and aggregate their entire corporate banking estate at the click of a button.

This not only reduces the friction of using multiple systems, but significantly decreases the time-to-value for corporates from months to minutes.

The ability to join together data from multiple connectivity channels, means AccessPay can deliver a global solution, whilst enhancing the user experience within the EEA.

Until now, some corporates relied on outdated and manual processes to reconcile payments and manage cash across several company accounts. This presented costly challenges when monitoring financial performance and cash management.

As the world economy recovers from the impact of Covid-19, treasury teams need one centralised place to access reliable, secure financial data to support their businesses.

Harnessing Yapily’s Open Banking infrastructure, AccessPay has expanded its cash management product to thousands of mid-market and enterprise businesses.

This is the first use-case of Open Banking in corporate cash management to be brought to market and demonstrates how tech innovation is creating better services for businesses.

The collaboration between these two UK-based FinTechs will enable thousands of treasury and finance teams to make more informed financial decisions, as well as establishing reliable, automated processes around reconciliation, payroll and forecasting of company cash.

Yapily’s infrastructure will provide AccessPay’s customers, such as ITV, NSG and Imperial College London, with access to real-time banking data. This removes the need to manually download data using spreadsheets, which is error-prone, time-consuming and costly.

Surfacing the transaction data that treasury operations teams need to successfully support their businesses in making the right financial decisions, within one single view.

 

Winston Pearson, Senior Product Manager at AccessPay said: “We are delighted to be working with Yapily, another fast-growth FinTech, to drive digital transformation in the corporate space.

“Businesses and banks simply aren’t as connected as they should be in today’s global business landscape. Treasury and finance teams, the driving force of today’s corporate operations, need one central place to automate banking operations for complete visibility and control.

“With Yapily’s support and guidance, we’re able to expand our cash management solution to more of the market at this pace and scale. The integration has transformed a cumbersome process into a frictionless data flow for our customers.

“Thanks to Yapily’s industry-leading infrastructure and strong relationships with banks across Europe, we’ve been able to deliver a solution previously reserved for the few, to the masses.”

 

Stefano Vaccino, CEO of Yapily said, “Leveraging our Open Banking infrastructure in this way has enabled AccessPay to move faster and disrupt the corporate business landscape. This is an exciting development for Open Banking and demonstrates the benefits the technology brings to the ecosystem.

“Through partnering with AccessPay, we’re continuing our mission to expand the reach of Open Banking to a wide range of businesses. We look forward to developing our partnership with AccessPay and helping them continue to scale to new heights.”

AccessPay’s cash management service, enhanced by Open Banking, has been launched to the mid-market in the UK, and a broader European roll-out is planned later this year.

 

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VOLATILITY IS CRYPTO’S BEST FRIEND

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Stephen Ehrlich, Co-Founder and CEO at Voyager Digital.

 

Volatility is good for crypto. It serves multiple purposes as the whole crypto ecosystem matures, which we have to remember is an industry and technology that is still only just over a decade old. New and emerging industries are by their nature volatile as they move towards mainstream adoption. But the volatility attracts people, investors and technologists, who drive the pace of adoption forward and as it grows, volatility naturally decreases. In the case of Bitcoin, its volatility has steadily been decreasing over time and even the recent sharp moves have not seen such a big rise in volatility compared to historically (see chart below).

Chart showing Bitcoin Price and Volatility

Source: https://www.buybitcoinworldwide.com/volatility-index/

Volatility continues to attract participants as it is unquestionably in our human nature to be drawn to assets that are subject to rapid price appreciation. Throughout history there have been numerous asset bubbles that have burst, with Dutch tulips of the 1600s being the one that most referenced in relation to crypto-assets. But do tulips really provide any utility apart from looking and smelling good? Many crypto-assets actually provide a purpose, a utility, and serve as the backbone to new technology protocols upon which useful apps are being built. This is why we are seeing greater adoption and as the whole market continues to grow, we are now seeing institutions embrace Bitcoin by diversifying into it as an alternative store of value. This is why volatility is good for crypto. But another harsh reality is that it allows people to learn about the risks, as well as the rewards, of getting involved. Hopefully this is done with the assistance of their chosen broker or through educational webinars, video, and other collateral.

Yes, there will be many that will get their fingers burnt, especially if they employ leverage into their trading without a disciplined approach to managing risk. The same can be said of the internet boom and bust in the late 1990s and early 2000s that saw many a “dotcom” go bust. Leverage was around in those days too, so unfortunately many people learnt the hard way, but it is a necessary evil for the industry to become even more established. For Bitcoin, we have seen multiple bubbles burst, with 2017/18 being the last cycle and soon after the sceptics were suggesting the end for crypto-assets was nigh. But those who see the technology’s potential were keeping their heads down and building amazing platforms and applications. If we take a look at Bitcoin today, it’s clear that the end is nowhere near.

Volatility also attracts the attention of regulatory authorities, another natural evolution of nascent industries. On occasions though, there can be overregulation. Whilst the sentiment behind the UK’s FCA ban on retail investors being able to trade crypto derivatives is right, in respect to trying to provide greater investor protection, it can limit choice and ultimately drive investors to offshore brokers that may afford much less regulatory protections. If an investor really wants to employ leverage in their trading then they’ll find a way to do it, so perhaps rather than an outright ban, perhaps limit the amount of leverage they can use instead.

Bans certainly don’t help liquidity and are actually counterproductive. We’ve seen multiple decisions to “ban” crypto reversed as authorities realise that people simply circumvented it by using a VPN or other means to buy Bitcoin. India is now set to vote on a crypto ban, but at the same time they are due to introduce their own Central Bank Digital Currency, which in itself sends out mixed messages. As governments become more knowledgeable on crypto-assets and understand how they are totally borderless, bans are likely to become less and liquidity will continue to improve further.

Coinbase’s prospectus filing and the fact that the SEC is allowing this anticipated $100b direct listing to come public, with significant consumer involvement, is further acceptance of digital assets by the authorities. The continued evolution of the industry going mainstream and public companies vetted and allowed to move forward by the SEC, foreshadows the long-term outlook by the SEC that this industry is here to stay and regulation and acceptance of digital assets as an asset class is forthcoming. Regulation adds legitimacy to the industry and will attract a broader audience of investors and participants, as oversight gives comfort to a larger group of investors.

Regulation is very important, but it needs to find the balance that protects consumers, yet also fosters adoption of what is a truly ground-breaking technology and asset class. So, for those people that complain about crypto markets being too volatile, we NEED volatility in order for the whole ecosystem to thrive.

 

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