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My final story for City A.M. in December. Today it’s official: The government is axing the Payment Systems Regulator. cityam.com/payments-regul…

Scoop: UBS is set to lay off 13 staff as it shutters outsourced trading. The business services hedge funds and asset managers during busy periods or to replace trading desks entirely. Via Financial News fnlondon.com/articles/ubs-s…

Euronext CEO Stéphane Boujnah on crypto, Donald Trump and succession at Europe's biggest stock exchange. ‘If things go wrong for crypto, we’ve a lot more to lose than FTX.’ Via Financial News fnlondon.com/articles/euron…

Scoop: PrimaryBid's valuation has been slashed 87% by LSEG, implying the fintech is worth just £56m. That is a huge decline from the roughly $715m valuation PrimaryBid achieved in a 2022 funding round led by SoftBank. Via Financial News fnlondon.com/articles/lseg-…

Revolut is quietly building out a trading desk to become the "world's leading market maker", putting itself in competition with the likes of Jane Street and Citadel Securities. "Never going to happen," says one Wall Street consultant. Via Financial News fnlondon.com/articles/revol…

Scoop: The private equity owners of Shawbrook Bank have pushed back their plans for a £2bn listing amid the market turmoil from Trump's tariffs. The challenger bank is seen as a key IPO candidate for the London's ailing stock market. Via Financial News fnlondon.com/articles/shawb…

Scoop: Santander-backed fintech Ebury is set to delay its £2bn London IPO plans due to recent market volatility. The potential listing will likely move to later this year and could be delayed until 2026 depending on market conditions. Via Financial News fnlondon.com/articles/ebury…

In Germany, a war of words between some of Europe's largest market makers and two trading venues over the definition of a stock exchange has attracted scrutiny from the EU's top financial markets regulator. Via Financial News fnlondon.com/articles/eu-re…

Exclusive: BancTrust, a City investment bank specialising in emerging markets, has laid off its chief strategy officer and most of its London-based salespeople and compliance team in an aggressive cost-cutting effort. Via Financial News fnlondon.com/articles/banct…

Scoop: TP ICAP has become the latest London-listed firm embroiled in a row over its CEO's remuneration after ISS urged shareholders to vote against a potential £2m pay rise for long-serving boss Nicolas Breteau. Via Financial News fnlondon.com/articles/tp-ic…

Front page of Financial News

The £1.2bn Blue Whale Growth fund has boosted its stake in the London Stock Exchange Group to just shy of a top 10 holding. Manager Stephen Yiu 🐳 said LSEG may benefit from relisting in New York. Via Financial News fnlondon.com/articles/blue-…

Scoop: The Bank of London is under investigation by the UK's banking regulator, as the troubled fintech's auditor flagged "material uncertainty" over its future. With Paul Clarke via Financial News fnlondon.com/articles/bank-…

Monzo is building an investor relations team in the latest sign of the $6bn fintech's IPO preparations. Via Financial News fnlondon.com/articles/monzo…

Exclusive: The London Stock Exchange Group is shifting some EU tech jobs to India as it insources 2,000 external contractors. Via Financial News fnlondon.com/articles/londo…

The London Stock Exchange is stepping up efforts to reverse the decline of AIM with a sweeping review of its rulebook. As it turns 30, the junior bourse's head says it is not for sale and "could do so much more in the future". Via Financial News fnlondon.com/articles/aim-b…

Scoop: Liontrust is moving traders to BNY in an outsourcing deal as the asset manager tries to keep a lid on costs. Via Financial News fnlondon.com/articles/liont…

Two fintechs worth a combined $3.5bn are among those showing interest in the government’s Pisces scheme, designed to enable private companies to trade their shares on exchanges. Via Financial News fnlondon.com/articles/pisce…

Scoop: HSBC's failed fintech Zing lost $87m before the bank ditched it. HSBC injected $169m into the international payments app in a short-lived bid to take on Wise and Revolut. Via Financial News fnlondon.com/articles/faile…

London IPO advisers are delaying their bets for a meaningful rebound to next year. Canopius, the £3bn Lloyd’s of London insurer, is the latest big firm to rethink its tentative listing plans, sources familiar with the matter tell Financial News fnlondon.com/articles/londo…