Our dark pool data feed picked up a huge $133 million dark pool trade on July 2, 2020.

Make sure to review this lesson on dark pool data so you understand what’s going on with the chart above.

On June 30, 2020, Scotiabank announced the launch of a new Sustainable Finance Group within its Global Banking and Markets (GBM) division. The new team will further Scotiabank’s Climate Commitments, announced in November 2019, to support clients in the transition to a low-carbon economy, decarbonize its own operations and contribute to the global conversation on climate change.

“Our new Sustainable Finance Group will support our clients’ evolving requirements for sustainable financing and Environmental, Social and Governance (ESG) related investments,” said Paul Scurfield, Managing Director and Head of Global Fixed Income at Scotiabank. “We are steadfast in our commitment to support Scotiabank’s sustainability and climate change initiatives by offering innovative and high-quality sustainable finance products, solutions and advice to our clients.”

The Sustainable Finance Group complements Scotiabank’s expertise in ESG, working closely with Scotiabank partner teams to provide financial solutions and advice across sustainable finance products to corporate, financial, public sector and institutional clients across our global footprint.

The creation of this group within GBM builds on Scotiabank’s leading position as the top Canadian dealer of sustainability bonds in 2020 and the fastest growing dealer globally, as well as Scotiabank’s leadership in ESG which includes:

  • Issued inaugural USD 500 million Green Bond, in July 2019, aligned to eligible criteria in the Scotiabank Green Bond Framework, including renewable energy, clean transportation and green buildings.
  • Developed a climate change risk due diligence and rating methodology and implemented training for all banking and credit teams in 2019.
  • Invested nearly $100 million globally to communities where we operate in 2019, as part of our global philanthropy program.
  • Named to the Dow Jones Sustainability Index North America and ranked amongst the top 1% of global financial institutions for corporate governance.

On June 29, 2020, Scotiabank announced that it won the Retail Banking Security Innovation of the Year Award from Retail Banker International (RBI). This prestigious award recognizes the Bank’s focus and investment in its Financial Crimes Risk Management program, building market-leading capabilities, while gaining efficiency and efficacy through the use of technology.

We are delighted to be recognized for providing top Security Innovation, especially during this pandemic when secure banking is top of mind for our clients,” said Stuart Davis, Global Head, Financial Crimes Risk Management, Scotiabank. “Scotiabank’s innovative approach to financial crimes risk management is reflected in this achievement, and we’re so pleased to be ranked #1 for our innovation in keeping our customers safe.”

“To be recognized as RBI’s Security Innovation of the Year, is a testament to the strides we have made in leveraging technology and data & analytics to support the build of a market leading financial crimes risk management program. Our focus on the future allows us to propel innovation, safeguard communities and adapt to the ever-evolving digital banking world to enhance customer trust,” said Demetria Ruggiero-Barbera, Senior Vice President, AML, KYC & Onboarding Technology.

Over the last four years, Scotiabank has dramatically transformed its financial crime risk management capabilities. The transformation included adapting to the new digital banking world, while leveraging sophisticated data science techniques to broaden the depth and breadth of the analysis of financial crime risks. Today, the program showcases market leading advanced capabilities with dramatically improved efficiency.

On June 26, 2020, Scotiabank announced that it is ready to accept applications for the next phase of the Canada Emergency Business Account (CEBA), with expanded eligibility that enables a broader group of businesses to apply for the financial relief program.

“We’re pleased to see the government introduce phase three of the CEBA program and open eligibility up to more businesses in need of support during this challenging time,” said Dan Rees, Group Head of Canadian Banking for Scotiabank. “We’re excited to help even more small businesses gain access to relief funds and continue providing advice and solutions to help them come out of this even stronger.”

As part of this third phase of CEBA, the federal government set out new terms that require Export Development Canada (EDC) to approve eligibility before funding is released. While Small Business and Business Banking clients will still be required to provide an attestation to Scotiabank as part of the application process, EDC will also request additional documentation before a loan can be approved. For more details on eligibility criteria, customers are encouraged to contact their Small Business Advisor or Relationship Manager.

Relief measures in support of eligible Canadian Business Banking and Small Business clients affected by COVID-19 include:

  • Deferral of payment on small business credit cards and credit lines;
  • Payment deferral on business loans;
  • Online application for the Canada Emergency Business Account (CEBA);
  • Online application for the Canada Emergency Wage Subsidy (CEWS);
  • Support through the Business Development Bank of Canada (BDC) financial relief program;
  • Support through the Export Development Canada (EDC) financial relief program;
  • Continued access to Small Business Advisors and Business Banking Relationship Managers for customized advice.
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