Author: News Desk
In a significant development for the fintech sector, the shareholders of NAGA GROUP AG, a publicly listed company on XETRA (N4G), have overwhelmingly approved a merger with the brokerage CAPEX.com. During an extraordinary general meeting on April 12, a staggering 99.81 percent of NAGA’s shareholders endorsed the merger, setting the stage for a major consolidation in the industry. The press release issued on Monday disclosed that NAGA, based in Hamburg, is in the process of obtaining two additional regulatory licenses, although the specific jurisdictions were not disclosed. Together, NAGA and CAPEX currently hold nine regulatory licenses. Octavian Patrascu, the newly…
Liquidnet, an agency execution specialist, has introduced its SuperBlock initiative to strengthen its block trading capabilities. The initiative kicked off with the launch of SuperBlock Matching, designed to facilitate participation in large or less liquid block trades. This new offering caters to the needs of traders by providing a streamlined platform where such trades can be executed with ease. The SuperBlock initiative harnesses Liquidnet’s extensive global buy-side community and block trading proficiency to establish a secure environment dedicated to handling some of the market’s most complex trades. SuperBlock Matching specifically addresses the need for a more efficient and user-friendly platform…
Bybit, recognized as one of the top three global cryptocurrency exchanges by trading volume, has launched an exclusive P2P Cashback Giveaway for traders in the MENA region. This promotional campaign provides an opportunity for traders to earn up to 20 USDT by engaging in P2P trading and promoting their experiences on social media platforms. The event is scheduled to run until May 6, 2024, concluding at 10:00 AM UTC. It includes several enticing features aimed at rewarding participants: The first highlight of the campaign allows traders to earn 15 USDT through a series of activities: Additionally, there is an opportunity…
MetroTrade, a new entrant in the American financial market, is making waves with its futures and options trading offerings. Co-founded by Ingmar Mattus, also the co-founder of the well-known brokerage brand Tickmill, MetroTrade has successfully registered with the Commodities Futures Trading Commission (CFTC) and joined the National Futures Association (NFA). Mattus, alongside co-founder David Klotz and teams in Europe and North America, aims to revolutionize the US retail futures market by leveraging new technologies and catering to customer needs. Mattus elaborated on their approach, saying, “Dave’s extensive experience in the futures industry pairs perfectly with my own history of co-founding…
OpenAI recently hosted top executives from Fortune 500 companies across key global cities including San Francisco, New York, and London. The purpose was to introduce its advanced AI services, with a new enterprise-grade chatbot at the forefront of these discussions, Reuters reported. This new product is designed to meet specific industry needs in sectors like finance, healthcare, and energy. The company has assured its corporate clients that their data will remain secure and will not be utilized to further train its AI models. This move is part of OpenAI’s strategy to broaden its customer base and secure diverse revenue sources.…
A recent study conducted by Owner.One, a company specializing in asset management and inheritance planning, has revealed concerning insights into the practices of crypto millionaires worldwide. The research highlights a significant lack of knowledge and disregard for personal information safety, as well as a poor understanding of asset transfer processes and Know Your Client (KYC) regulations. The study, which analyzed data from 8,000 families in 18 countries across several continents including Africa, the Middle East, Asia, the European Union, the United Kingdom, and North America, found worrying trends that lead to the accumulation of hundreds of millions of dollars in…
Talos, a leading technology provider catering to the institutional trading of digital assets, has announced a strategic partnership with Coinbase Derivatives. This collaboration is set to broaden the investment horizons for those looking to delve into the cryptocurrency space within a regulated environment. Through this partnership, investors gain access to a regulated futures exchange that offers Bitcoin and ether futures contracts, marking a significant step towards integrating digital assets into mainstream financial markets. These futures contracts, which are sized at 1 Bitcoin and 10 ether, are designed with the institutional investor in mind. They offer an effective mechanism for managing…
The Financial Industry Regulatory Authority (FINRA) recently took action against H2C Securities Inc., imposing a $250,000 fine and issuing a censure for the firm’s failure to properly manage over 1.25 million business-related electronic communications from January 2013 through June 2021. These communications, which involved H2C Securities’ associated individuals, were exchanged via four different platforms provided by the firm but were not adequately preserved or reviewed as required. This decision was detailed in a Letter of Acceptance, Waiver, and Consent (AWC) where it was found that H2C Securities’ supervisory mechanisms, including its written supervisory procedures, were insufficiently designed to ensure compliance…
UP Fintech Holding Limited, operating under the Tiger Brokers brand and listed on NASDAQ with the symbol TIGR, has released its unaudited financial results for the fourth quarter and the entire year of 2023. For Q4, the company reported revenues of $70 million, marking a 9.6% year-over-year increase, and closed the year with total revenues of $272.5 million, a substantial 20.9% growth from 2022. Despite not achieving profitability in the last quarter, UP Fintech concluded the year with a net income of $32.6 million, a significant turnaround from a $2.2 million loss in the previous year. “In 2023, our topline…
Webull Canada has unveiled a new cash management feature for its digital investment platform, providing an enticing opportunity for investors to earn interest on their uninvested cash. This innovative service offers a 4% interest rate for Canadian dollars and a 3% rate for US dollars, addressing the growing demand for investment platforms that extend benefits beyond mere trading. The company’s move to introduce such a feature reflects its commitment to catering to investors’ needs for maximizing returns through passive income. Michael Constantino, CEO of Webull Securities (Canada) Limited, emphasized the significance of this initiative, stating, “Earning passive income on interest…