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 as a result of total troublesome nature of present market circumstances. Nonetheless, the agency stated its month-to-month internet revenue price remained steady throughout the interval.
“On the similar time, Leonteq continued to take care of a prudent strategy to threat administration with its internet buying and selling outcome compensating for subdued consumer exercise, significantly within the third quarter of 2022,” the corporate stated in a enterprise replace. It added, “In consequence, Leonteq expects to report a gaggle 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 steering was to exceed the prior yr’s group internet revenue).”
Earlier in October, whistleblowers in a Monetary Occasions report accused Ernst & Younger International Restricted, one of many Large 4 accounting companies, of whitewashing suspicious trades it discovered within the firm’s data. Nonetheless, Leonteq in its response rejected the allegations.
In line 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 totally investigated by Leonteq’s Compliance division,” Reuters quoted the corporate as saying in an announcement.
Leonteq Helps Swissquote Turn into Structured Merchandise Issuer
In the meantime, earlier within the yr, 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 underneath the model, Yield Booster.
“Swissquote’s Yield Boosters are quanto derivatives, which means the underlying is expressed in a single foreign money, and settled in one other. This provides buyers publicity to international belongings with no corresponding alternate fee 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 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 as a result of total troublesome nature of present market circumstances. Nonetheless, the agency stated its month-to-month internet revenue price remained steady throughout the interval.
“On the similar time, Leonteq continued to take care of a prudent strategy to threat administration with its internet buying and selling outcome compensating for subdued consumer exercise, significantly within the third quarter of 2022,” the corporate stated in a enterprise replace. It added, “In consequence, Leonteq expects to report a gaggle 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 steering was to exceed the prior yr’s group internet revenue).”
Earlier in October, whistleblowers in a Monetary Occasions report accused Ernst & Younger International Restricted, one of many Large 4 accounting companies, of whitewashing suspicious trades it discovered within the firm’s data. Nonetheless, Leonteq in its response rejected the allegations.
In line 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 totally investigated by Leonteq’s Compliance division,” Reuters quoted the corporate as saying in an announcement.
Leonteq Helps Swissquote Turn into Structured Merchandise Issuer
In the meantime, earlier within the yr, 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 underneath the model, Yield Booster.
“Swissquote’s Yield Boosters are quanto derivatives, which means the underlying is expressed in a single foreign money, and settled in one other. This provides buyers publicity to international belongings with no corresponding alternate fee threat,” Swissquote defined on its web site.
