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Online News Archive

Editor: Leslee Mason email Leslee

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January-February 2011

Profits rise at ATB Financial as margins continue to improve

February 25, 2011--Third-quarter profits at ATB Financial (ATB) rose $30.8 million, or 86.2 per cent, as margins and loan volumes improved and credit losses reduced.

Net income for the quarter ending December 31, 2010 was $66.6 million, compared to $35.8 million during the same quarter last year. Adjusted net income - which excludes a recovery on asset-backed commercial paper - was $58.9 million, an increase of $20.4 million over last year's third quarter.

Canada becomes the destination of choice for mining transactions: Ernst & Young

February 23, 2011--Canada's mining and metals sector is set to heat up in 2011 with increased deal activity, more diverse buyer competition and a continued appetite for projects in frontier markets, according to Ernst & Young.

"Canadian M&A activity has made an incredible rebound with companies reaping the rewards of reinvigorated balance sheets and flushed with cash from high commodity prices - particularly gold and copper," said Tom Whelan, Leader of Ernst & Young's national Mining practice. "In 2010, a third of all global gold deals took place in Canada, with over half of all deals conducted by Canadian companies. The largest of these was Kinross Gold's acquisition of Red Back Mining, valued at US$7.4 billion."

Treasuries fall short on STP, survey claims

By Robin Arnfield, Editor

The use of Straight Through Processing (STP) for the efficient transfer of treasury information is being neglected by a significant number of treasurers, according to a survey by IT2 Treasury Solutions.

Servus Credit Union to pilot Everlink Fraud Management

February 11, 2011--Everlink, a leading provider of Integrated Payment Solutions and Services in the Canadian marketplace, is pleased to announce that Servus Credit Union, the third largest credit union in Canada, has signed an agreement to implement the Everlink Fraud Management solution

JP Morgan drives paperless receivables

February 10, 2011--The need for efficient working capital management, the requirement to secure paper documents, plus advances in scanning technology have all come together to drive the growth of paperless receivables.

FINCAD, BNY Mellon partner for derivative analytics

February 10, 2011--BNY Mellon subsidiary Eagle Investment Systems has become the latest financial services company to offer derivative pricing analytics to its global clients via a partnership with Surrey, BC-based FINCAD. Eagle will incorporate FINCAD Analytics into its investment management suite, which is used by clients for managing complex investments. Eagle joins the 70 partners who embed FINCAD’s products into their own client offering.

Moody's: New operational risk guidelines could affect structured finance ratings

February 10, 2011--Moody's Investors Service expects to publish its operational risk guidelines for global structured finance transactions by the end of February 2011. This announcement follows the end of the request for comment period on 15 January 2011. The rating agency believes that the new guidelines could affect the senior ratings of up to 200 transactions worldwide.

Reval says demand for risk management, STP, drives new business

February 10, 2011--Reval, the premier provider of Software-as-a-Service (SaaS) solutions for corporate financial risk management, has added 70 new clients in 2010, generating 63 percent more new contract value than in 2009. As a result, revenue grew over 43 percent. Demand for more risk management tools and straight-through processing drove new business.

American Express Canada offers up 'FX International Payments

February 10, 2011--American Express Canada has a new online foreign exchange payment solution for Canadian businesses. American Express FX International Payments (FXIP) allows clients to make foreign currency transactions at competitive rates and with the convenience, security and control of 24/7 online service.

"For many small and medium sized businesses, navigating the volatile and complex global foreign exchange market can be as challenging as learning a foreign language," said Jeff Gladwish, Director, FXIP, American Express Canada. "Our clients have told us they're looking for cost-effective and efficient ways to transact internationally, so we've put over a century of foreign exchange expertise to work in designing a solution that gives our clients the support and tools they need."

Surging Scotiabank Commodity Price Index reveals risk for Canada's oil patch

January 30, 2011--The wide discount for WTI oil off Brent highlights the commercial risk for
Canada's oil patch of relying largely on one export market - the United States.

International Cash Distributors (ICD) expands Canadian operation

January 25, 2011--Canadian natural resource companies with excess cash to invest have spurred San Francisco, California-based Institutional Cash Distributors (ICD) to expand its distribution and sales operations in Canada.

Markazi joins FINCAD to lead enterprise solution sales team

January 20, 2011--FINCAD, the industry standard for financial analytics, has hired Andrew Markazi as a Sales Director focussing on large financial institutions.

CGI renews $25M in contracts with Canadian credit unions

January 15, 2011--CGI Group, Inc. it has renewed  and extended contracts worth over $25M with Canadian credit unions over the past 6 months.

BMO Mutual Funds, RBC Direct Investing crowned 2010 Service Award winners

January 11, 2011--The 2010 winners of the annual Service Award were released today by DALBAR. Earning the #1 spot in the mutual fund industry is BMO Mutual Funds. This marks five consecutive years of award winning service by BMO Mutual Funds for both its English & French language services. The #1 ranked company in the discount brokerage industry is RBC Direct Investing. This also marks the fourth consecutive year that RBC Direct Investing has earned this award. Honourable mentions go to Franklin Templeton Investments and TD Waterhouse Discount Brokerage, both companies finished second in their respective categories. to deliver in-house financing directly to Canada's multi-billion dollar home improvement industry, firm says

January 11, 2011--CommunityLend, Canada's only online loan marketplace, today announced the launch of, its innovative in-house financing platform for Canada's multi-billion dollar home improvement industry. Starting immediately, home improvement businesses will be able to register at to provide their customers with immediate loan approvals for purchase financing.

Manulife Financial provides update on Q4 2010 hedging activities

January 6, 2011--Manulife Financial Corporation is announcing significant progress on its goal of reducing its underlying earnings sensitivity to equity market and interest rate movements in the fourth quarter of 2010.

Vast majority of firms using financial derivatives to hedge risk

January 4, 2011--The 2010 Fincad Corporate Finance Survey has found that 83 percent of corporates are continuing to use derivatives to hedge risk. However, as a result of the financial crisis, more corporate treasuries have taken measures to adjust their risk management strategy with increasingly required checks and balances in place.

Half of Canadian small businesses still in downturn, Amex says

January 3, 2011--Despite reports of a strengthening Canadian dollar, new job creation and what's expected to have been a solid Christmas shopping season, almost half of Canadian small business owners report a downturn in business, notes the latest quarterly American Express Small Business Monitor conducted by Angus Reid Public Opinion.

Insurance electronic billing practices slow to take hold

January 3, 2011--An in-depth study of billing and collections practices by U.S. insurance companies by Ward Group, a U.S.-based provider of insurance industry benchmarking and research studies, has found a preponderance of paper-based methods.

Dovetail joins International Payments Framework Association

December 30, 2010--Dovetail, a UK- and U.S.-based provider of payment services hubs, has joined the International Payments Framework Association. The IPFA provides rules, standards, operating procedures and guidelines to improve cross-border payments and the inter-connection of international clearing systems.

Scotia Capital ranks #1 in corporate debt underwriting Jan 26, 2011

Laurentian Bank releases 2010 annual report
Jan 15, 2011



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