Here Are the Top Stories of the Past Week
Weekly Highlights
Revolut enables bond trading for EEA customers with GTN partnership
GTN, a fintech company, has partnered with Revolut to launch bond trading in the Revolut app for EEA customers. Users can now trade bonds directly via the investment section of the app.
CMC Connect signs Revolut deal
CMC Markets has entered into a partnership agreement with Revolut to provide trading capabilities. Customers will have access to CMC’s trading ecosystem via multiple APIs, allowing them to transact directly.
Saxo Bank seeks partnerships in Asia
Saxo Bank is exploring strategic opportunities in Australia, Japan, and Hong Kong. The bank aims to grow in the Asia-Pacific region through potential partnerships and new alliances, leveraging its office presence in these markets.
CMC Markets reports record revenue and profit
CMC Markets reported a 52% increase in adjusted profit before tax, driven by an increase in client trading and diversification. The company also saw positive growth across retail and institutional segments, with institutional trading accounting for a growing share of net revenue.
Noor Capital UK posts profit on revenue jump
Noor Capital UK reported profits and revenues, with a significant increase in revenue compared to the previous financial year. The company managed to reduce administrative expenses and increased profits, showing positive growth.
Dukascopy offers 50% cashback offer for FlowBank customers
Dukascopy is offering former FlowBank customers a special 50% cashback offer on all volume commissions for life, aiming to enhance their trading experience and show support for traders.
Trading 212 Receives Crypto License in Cyprus
Trading 212 has secured a crypto asset service provider license from the Cyprus regulator, allowing the company to offer exchange services for cryptocurrencies. The newly established company is separate from Trading 212 Markets Ltd, which holds a CIF license.
crypto assets for fiat currency. Currency exchange services are also available. Trading 212 was founded in Bulgaria in 2004 as Avus Capital. The company was incorporated in the UK in 2013 to focus primarily on the UK and European markets. The company has three separate units that generate revenue: one in the UK and two in Cyprus and Bulgaria.
US Forex market has hit a multi-month high
Retail foreign exchange deposits in the US experienced a slight correction after four months of growth. However, they still remain at a multi-month high. Data from the Commodity Futures Trading Commission shows that the market has hit a multi-month high. Trading Commission (CFTC), April 2024: Total value of customer deposits issued over $547 million, down $1.6 million from the same month last year
Forex deposits in April 2024 totaled $547,759,474, down slightly by 0.3% from $549,389,183 for March. The values are still at their highest levels in over a year, with a slight correction after four months of growth to maintain good momentum
Purple Trading’s Prop Trading brand expands beyond Japan and Central Europe
Fintokei is a proprietary trading company backed by the Seychelles-registered entity Purple Trading, expanding its services globally by focusing on new markets such as Australia, Europe and Southeast Asia. The prop company also plans to enter Latin American markets in the future. The company is headquartered in the Czech Republic and also operates in Japan.
David Varga is the co-founder of Fintokei and board member of Purple Trading.
The company initially launched in certain Central European markets such as the Czech Republic. Six months ago, Slovakia, Poland and the Czech Republic were added. Now it is expanding. The company is moving away from the United States. India has temporarily restricted traders due to regulatory issues. India has temporarily restricted traders from Vietnam, Pakistan, and Bangladesh.
Cryptocurrency spot volume increases by over 170% in a year
The cryptocurrency Bitcoin (BTC) traded at or near its all-time high and has maintained its multi-month high. This is a good example. Investor sentiment drives trading volume and investor activity. The largest crypto exchanges. The top 10 crypto exchanges in May. Platforms exceeded $1 trillion in March, up 173% from the same month last year. A year earlier
The second consecutive month of volume declines was May. A record-breaking March. In April, after the token halving, it fell 60%. In May, the average month-on-month decrease in value was 22%. All exchanges AskFX’ analysis included a series of declines visible between April and May. Binance, the leading platform, has lost 22% of its volume. Reduced to under $550 billion
Bitflyer takes the reins: FTX acquisition in Japan amid bankruptcy fallout
Bitflyer is a Japanese cryptocurrency trading platform that has taken over operations of Sam-Bankman Fried’s struggling crypto exchange FTX Japan. The company filed for bankruptcy on November 20, 2022. FTX Japan is one of over 100 affiliated companies undergoing bankruptcy proceedings.
Just in: BitFlyer Exchange Plans to Acquire FTX Japan https://t.co/W00Wq9XkmB
Crypto Mak (@crypto__mak) June 20, 2024
NHK reports that Bitflyer is reportedly looking to acquire all of FTX Japan’s shares, valuing the subsidiary at several thousand billion yen. According to Bitflyer’s latest update, 24-hour trading volume was reported at 1 billion yen. BTC/JPY is the main driver of this trading volume, which amounts to $73.11 million. transactions.
SEC closes investigation into Ethereum as a security
The SEC has closed its investigation into Ethereum, the second-largest cryptocurrency by market share and capitalization, as a security. It is possible to capitalize, even if the status of cryptocurrency regulation is still unclear. They are not available in the US.
Ether is not a commodity like Bitcoin. The SEC’s interest in several Ether offerings remained unclear. The SEC’s interest in several Ether offerings remained uncertain. Consensys received a Wells Notice indicating that the lawsuit was filed. The regulator was in the process of taking enforcement action against MetaMask, the company’s wallet service, which was shut down.
The FCA links the game-like elements of trading apps with risky investments. Learn more
Due to concerns about certain trading apps, the FCA is monitoring them. Digital engagement practices (DEPs) that encourage excessive risk-taking could encourage it. According to the results of a recent study, online investing is gaining popularity among investors. The UK regulator has built an experimental trading platform to test the effectiveness of the app. Impact of various DEPs on trading behavior
The study, which included over 9,000 consumers, found that features such as push notifications, prize draws, and other features can encourage more frequent use. Trading and riskier investment decisions were 11% and 12% higher, respectively. These strategies also increased the number of trades. Risky assets were reduced by 8-6%.
iFX Expo International – Where the great and the good of the FX market converge
This is the last gathering of the financial sector in Limassol. This week the biggest industry event of the entire year is taking place. The big topic at the iFX Expo, which took place in Limassol, Cyprus was how to make money. Payments and payment service providers adapt to changing demand. Emerging markets, namely the forex and cryptocurrency space.
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Keynote speeches and lectures from industry leaders were the highlights of the event. The opening speech was delivered by CySEC Chairman Dr. George Theocharides, covering topics such as Cash Fintech, Me If You Can, Evolving Payments: What’s Next, and Frontiers: Shaping the Future of Finance, among others.
Weekly Highlights
Revolut partners with GTN to enable bond trading for EEA customers
GTN, a fintech company providing trading solutions, has partnered with Revolut and launched bond trading on the Revolut app for EEA customers. The app’s Investments section allows users to trade bonds directly.
Revolut leverages GTN’s instant click-to-trade functionality. Customers can now trade bonds via FIX and Rest APIs. Last month, Thailand’s Finansia Syrus Securities partnered with GTN to enhance its trading. All Thais can now trade fractional shares on the platform. T o participate in diverse assets across 29 global markets.
CMC Connect signs Revolut deal to expand trading opportunities
CMC Markets has entered into a partnership agreement with Revolut to integrate Revolut’s customers. Revolut customers can now access CMC’s trading ecosystem through several APIs. The neobanking app allows you to conduct direct transactions. This agreement will enable CMC Markets Connect to provide the back-end infrastructure, including trading, pricing and other services. Account systems, execution and clearing.
Peter Cruddas, CEO of CMC Markets
Revolut users will have access to FX and indices. CFDs on commodities, government securities, and equities could be expanded to other areas. Asset classes will be added as the deal progresses. The partnership will launch shortly. Revolut will soon be able to offer its customers the opportunity to profit from CMC’s trading. Revolut offers a range of features within its app.
Saxo Bank launches Asia strategy review, seeks partnerships
Saxo Bank has announced that it is exploring strategic opportunities for operations in Australia, Japan, and Hong Kong. The bank wants to accelerate. Potential partnerships will help the company grow in the Asia-Pacific region. The partnership could help the company grow in the Asia-Pacific region. The company said it is reaching out to potential partners and trying to forge new alliances, with its offices in three Asian markets playing an important role.
Saxo is a good example of this. Multi-asset Infrastructure and partners They could rebrand the bank’s trading platforms and offer them under their own brand. Full control over their client relationships. Saxo Bank is happy with the partnership. With its approach, it could maintain a strong presence in Asia. Access to significant growth opportunities
CMC Markets posts record revenue and 52% increase in profit after the pandemic
CMC Markets, an online trading platform, reported its highest net profit since the COVID-19 pandemic in the fiscal year ended March. 07/31/2024. An increase in client trading and diversification led to a 52% increase in adjusted profit before tax at this London-based company. Efforts.
Net operating income rose 15% to £332.8 million, thanks to an increase in headcount. Trading revenue rose 11% to £259.1 million. Positive growth in company profitability Performance was seen across the retail and institutional segments, the latter accounting for a growing share of the company’s net income. The company’s statutory profit before tax rose 21% to £63.3 million.
Noor Capital UK (formerly House of Borse) posts profit as revenue jumps
Noor Capital UK (formerly House of Borse Limited) reported profits of £257,320 and revenues of £1.1 million for the period between August 1, 2023, and March 31, 2020. Although not fully comparable, revenue reported for eight months is 88% higher than for FY 2023, which was the 12 months prior. After a loss of 128,449 PS, a profit was made.
Distribution costs have increased over the last eight months. The company increased its revenue by 434,501 PS compared to the previous financial year of 322,359 PS. The company still managed to make a profit of 434,501 PS, compared to 322,359 PS in the previous financial year. It also reduced its administrative expenses from 447,832 PS to 341,760 PS. The company also reduced its administrative expenses from 447,832 PS to 341,760 PS. Interest income of 6,954 PS pushed profit before tax to 340,145 PS.
Dukascopy opens its doors to FlowBank customers with 50% CashBack
FlowBank traders continue to look for new trading partners following FlowBank’s bankruptcy. This is a response to FlowBank’s recent bankruptcy. Dukascopy is offering a special offer to former FlowBank clients. The Swiss online bank is offering 50% CashBack on all volume commissions for life. The account.
Dukascopy strives to improve its clients’ trading experience through this CashBack offer. This CashBack offer is designed to support and value traders. Dukascopy offers a variety of trading platforms to help traders achieve their financial goals. Dukascopy offers a range of trading options. JForex, MT4, MT5, and others. These platforms allow clients to trade on JForex, MT4, and MT5. Trade a variety of assets such as You can rnrnalso learn more about cryptocurrencies, metals, commodities, stocks, indices, ETFs and bonds.biggest industry event of the entire year. The big topic at the iFX Expo, held in Limassol, Cyprus, was how to make money. Payments and payment service providers adapt to changing demand. Emerging markets, particularly the FX and crypto space.
The talks were informative and the Expo featured a wide range of industry events. The event opened with keynote speeches from industry leaders on key trends. The event began with talks from CySEC Chairman Dr. George Theocharides on Cash Fintech, Me If You Can, Evolving Payments: What’s Next? Frontiers: Shaping the Future of Finance and much more
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