Author: Desmond Brooks

Fintech firm Revolut has called on Meta to take greater responsibility for compensating users who fall victim to scams on its social media platforms. The demand comes in response to Meta’s recent data-sharing partnership with UK banks, which Revolut claims is not sufficient to combat the rising tide of online fraud, as reported by CNBC. Revolut Pushes for Stronger Consumer Protections Meta’s new partnership with UK banks like NatWest and Metro Bank aims to tackle fraud by sharing customer data that could help prevent scams. While Revolut acknowledges the value of such collaborations, it believes that more comprehensive actions are…

Tradeweb Markets reported an exceptional performance for September, with its average daily volume (ADV) climbing to $2.63 trillion, representing a 68% year-over-year increase. The platform’s total trading volume reached a staggering $56.1 trillion for the month, reflecting robust growth across multiple asset classes. This surge was fueled by increased activity in the rates and credit trading segments, showcasing Tradeweb’s strength in the electronic trading marketplace. Impressive Gains Across Rates Trading The rates trading segment led the growth, with ADV in U.S. government bonds jumping by 59% YoY to $232.2 billion. Institutional and retail investors significantly contributed to this surge as…

Sydney, Australia – IG Australia has announced a new partnership with Western Chances, a nonprofit organization focused on enhancing educational opportunities for underprivileged youth in Melbourne’s western suburbs. This collaboration aims to provide scholarships, funding, resources, and mentorship to help young people realize their full potential. Supporting Talented Students in Need Western Chances is known for offering scholarships to promising students who face significant barriers to academic and personal success. The partnership will channel resources toward expanding educational access and support for these students, helping to eliminate obstacles that may hinder their growth and future opportunities. IG Australia emphasized that…

MetaQuotes is preparing to launch a new update for the MetaTrader 5 platform, identified as build 4585, on Friday, October 4, 2024. This update aims to address various stability issues and improve overall functionality, building on the enhancements introduced in the prior build 4570, which added machine learning capabilities to the MQL5 environment and optimized the web terminal. What’s New in Build 4585? The primary focus of the build 4585 update is to enhance the stability of MQL5 programs. Notable improvements include fixing crashes that occurred during certain conditions while stopping the profiling of MQL5 applications. Additionally, MetaEditor has been…

The Belgian Financial Services and Markets Authority (FSMA) has alerted the public about seven companies involved in a deceptive scheme known as “recovery room fraud.” This scam specifically targets individuals who have previously fallen victim to investment fraud, luring them with false promises of fund recovery services. What is a “Recovery Room Scam”? According to the FSMA, these companies prey on victims by offering fake recovery assistance, only to defraud them again. The scam typically involves demanding upfront fees for fabricated legal or administrative costs. In some cases, scammers request remote access to the victims’ computers, further endangering their finances.…

Marex Group plc has announced plans to acquire Aarna Capital Limited, a move that aims to broaden its clearing and risk management operations in the Middle East. This acquisition will provide Marex access to approximately 180 local clients and is expected to enhance its service offerings in the region. Strengthening Middle East Operations Aarna Capital, based in Abu Dhabi, offers specialized services in clearing, execution, and risk management across various asset classes, including energy, metals, equities, and foreign exchange. With this acquisition, Marex will gain a significant foothold in the Middle Eastern market and add a well-established team to support…

As the U.S. presidential election approaches, American retail investors are making strategic adjustments to their portfolios, according to a recent study. eToro’s survey indicates that 49% of investors are either changing their holdings or planning to do so in anticipation of the election’s impact. Proactive Portfolio Adjustments The survey, which gathered insights from 1,000 U.S. retail investors, reveals diverse approaches. About 42% of respondents are increasing their cash reserves, opting for liquidity amid potential market volatility. Meanwhile, 35% are expanding their investments in equities, and 20% are looking into cryptocurrency assets. Generational differences are also evident in how investors are…

Equinix has announced a major $15 billion initiative to expand its global data center footprint, partnering with the Canada Pension Plan Investment Board (CPP) and Singapore’s GIC. The collaboration aims to strengthen Equinix’s capacity for large-scale data center developments, driven by the growing demand for AI-based applications. Strategic Partnership for Hyperscale Growth The new joint venture, reported by Bloomberg, focuses on acquiring land to build state-of-the-art data centers, potentially adding over 1.5 gigawatts of power capacity to Equinix’s infrastructure. Under the agreement, CPP and GIC will each hold a 37.5% stake, while Equinix will maintain a 25% share. This partnership…

MoneyGram, a leading global financial technology company, has teamed up with dLocal, a cross-border payment platform specializing in emerging markets, to enhance its digital payment services in the Asia-Pacific (APAC) and Europe, Middle East, and Africa (EMEA) regions. The partnership, which aims to lower cross-border payment fees, also plans future expansion into Latin America (LATAM). Addressing High Costs of Cross-Border Payments The collaboration comes at a time when the cost of cross-border payments remains a global concern. According to the World Bank, the average cost of sending money across borders stood at 6.35% in early 2024, with traditional bank services…

Barchart, a leading provider of market data and technology solutions, has announced a new partnership with SIGMA Financial AI. This collaboration aims to bring advanced AI-powered analytics to traders and investors, combining the strengths of both companies to improve market intelligence and decision-making tools. AI and Market Data Integration for Enhanced Decision-Making Through this partnership, SIGMA Financial AI will integrate Barchart’s extensive market data into its suite of machine learning tools. The result will be real-time, actionable insights for traders, powered by SIGMA’s AI algorithms. This AI-enhanced data will help investors make more informed trading decisions, optimizing their strategies with…