Author: News Desk

IG Group Holdings plc (IG) faced a challenging first six months of the fiscal year 2024 (FY24) as softer market conditions and reduced volatility in various asset classes took a toll on their financial performance. Total revenue for the company witnessed a 9% decline, falling from £519.1 million to £472.6 million compared to the previous year. Net trading revenue saw a steeper decline of 19%, dropping from £494.9 million to £402.4 million during the same period in 2023. The adjusted profit before tax also suffered a substantial hit, decreasing by 21% to £205.7 million from £260.7 million in the previous…

Global financial data solutions and index management company, dxFeed, has unveiled a significant project involving Infrastructure as a Service (IaaS) for Tradu, a multi-asset trading platform catering to active traders and investors. In a strategic partnership, dxFeed assumes responsibility for managing vital infrastructure and delivering data services to Tradu, allowing the trading platform to focus on its core business objectives. DxFeed brings its robust IaaS capabilities to address the technical complexities of delivering market data to end-users. The primary goal of this collaboration is to simplify global data access for Tradu users worldwide. It achieves this by granting authorization tokens…

The Securities and Exchange Commission (SEC) has disclosed that the recent unauthorized post claiming approval of spot Bitcoin exchange-traded funds (ETFs) on January 9th is linked to a “SIM swap” attack. This method involves transferring a mobile phone number to a different device without the owner’s consent. Importantly, the SEC clarified that this attack occurred through a telecommunication network and did not compromise its internal systems, assuring the security of its core systems. The deceptive post announcing the approval of the first-ever spot Bitcoin ETF in the United States caused a stir in the cryptocurrency industry. The SEC acted swiftly…

Markets.com, the retail brokerage brand under the ownership of Finalto, has announced a notable change in its leadership, appointing Elena Christodoulou as the Head of Europe. Formerly serving as the Regional Manager of the DACH region since her arrival at the company in February 2021, Christodoulou is now based in Cyprus and will assume this pivotal role. In her new capacity, Christodoulou will be entrusted with the responsibility of overseeing the company’s operations and strategic endeavors throughout the European market. Her primary objectives include enhancing the company’s presence and spearheading growth initiatives. As the Head of Europe, she will also…

A recent FINRA examination has revealed a concerning 70% potential rate of violation of its retail communication regulations within the realm of crypto assets. This startling revelation underscores the critical importance of firms adhering rigorously to regulatory guidelines as they navigate the intricate landscape of cryptocurrency. During FINRA’s targeted examination, they meticulously scrutinized over 500 retail communications related to crypto assets. Alarmingly, approximately 70% of these communications displayed potential violations of FINRA Rule 2210. These violations encompassed a range of issues, such as failing to distinguish between crypto assets offered by affiliate companies and those provided by crypto-specific entities, disseminating…

BGC Group, Inc., a prominent global brokerage and financial technology company, recently unveiled that the FMX Futures Exchange has secured the coveted approval from the Commodity Futures Trading Commission (CFTC) to commence operations as an exchange specializing in US Treasury and SOFR (Secured Overnight Financing Rate) futures. These futures contracts stand as some of the most extensively traded financial instruments worldwide. A key facet of FMX’s operational prowess lies in its clearing agreement with LCH SwapClear, a heavyweight in the realm of interest rate collateral holdings. This strategic alignment endows FMX with a unique competitive edge in the US interest…

ATFX is pleased to announce the successful completion of the Change of Name for Rakuten Securities Australia Pty Ltd. Effective immediately, the entity will operate under the new name “AT Global Markets (Australia) Pty Ltd.” This transformation is accompanied by the adoption of the brand name “ATFX” for retail clients and “ATFX Connect” for institutional clients across the Asia-Pacific region. ATFX is committed to providing cutting-edge Forex cloud solutions with robust and rapid cross-border connections, ensuring impeccable performance even in high-demand scenarios. As part of its strategic expansion plans, ATFX is gearing up to relocate to a more spacious office…

CMC Markets, a publicly listed broker in the financial industry, has taken a significant step towards redefining the standards for MiFID II transaction reporting compliance through its partnership with AQMetrics, a regulatory technology provider. This strategic alliance aims to introduce advanced technology features and an enhanced customer support model, combining AQMetrics’ compliance solutions with CMC Markets’ market leadership. The primary goal is to simplify the complex regulatory landscape faced by financial institutions as they navigate evolving reporting obligations. Adam Harris, the Regulatory Reporting Manager at CMC Markets, expressed confidence in the partnership, stating that AQMetrics brings invaluable regulatory expertise to…

MetaTrader 5 has taken a significant step in redefining its strategic direction by introducing an integrated payments service aimed at enhancing user onboarding. In the fiercely competitive world of brokerage, this move not only enhances the convenience of the platform but also streamlines the entire process of engaging with new users. The primary focus of MetaTrader 5’s new strategy is to guide users effortlessly from their initial interaction with promotional banners to their first trade. This is achieved through the incorporation of several key features within the trading platform. Users can now confirm their contact details, open demo and preliminary…

Krzysztof Kapliński, a seasoned FX/CFD industry professional with more than ten years of experience, has been appointed as the Dealing Team Leader at Match-Trade Technologies, as reported by Finance Magnates. Kapliński, who has been affiliated with the Polish-origin company for nearly four years, has ascended from his previous role as a Senior Dealing Officer, following his earlier tenure as a Senior Broker Support Specialist. Kapliński’s impressive journey in the FX/CFD market began with well-known brands like Markets.com and IronFX. He then dedicated several years to the Polish branch of the brokerage firm XTB, initially specializing in the Operational Support Department…