BidX Markets, headquartered in London, has undergone a rebranding initiative, effective from February 28, 2024, and is now known as Multi Asset Solutions Limited, as officially documented with the UK government.
Specialising in liquidity solutions, Multi Asset Solutions caters to a diverse clientele within the financial markets, offering bespoke access to liquidity, connectivity, and distribution services tailored for brokers, asset managers, and funds.
In the previous year, BidX Markets introduced an enticing offer, presenting an opportunity for clients to earn interest of up to 5.1% on uninvested cash balances, with the most lucrative rates available for USD and GBP.
CEO Simon Blackledge underscored the significance of optimising clients’ cash resources to capitalise on market opportunities, as reported by Finance Magnates.
The timing of BidX’s announcement has sparked queries regarding regulatory implications, particularly following a cautionary note issued by the UK’s Financial Conduct Authority (FCA) against practices such as “double dipping”.
In response to regulatory expectations, BidX Markets, regulated by the FCA as a London-based entity, swiftly aligned its practices to ensure adherence to compliance standards and transparency across its offerings.
With a focus on forex, CFDs trading, and spread betting services, BidX aims to broaden its market footprint and deliver value to institutional and professional clients.
Adding to its leadership team, BidX Markets has appointed Liam Bonfield as its new Chief Finance Officer.
In his capacity, Bonfield will be responsible for overseeing financial planning, reporting, and analysis, bringing with him experience from his previous role as CFO at Valutrades.
Meanwhile, BidX Markets has reported a remarkable growth of 253% in revenue for the fiscal year 2023, reaching an annual revenue of £1,046,768, along with a notable pre-tax profit of £35,566, signifying a substantial improvement from the preceding year.