Author: Desmond Brooks

SIX, through its Spanish Central Counterparty (CCP) BME Clearing, has broadened its clearing services to include multi-currency Interest Rate Swaps (IRS), addressing regulatory requirements and market demands. This expansion aligns with the European Commission’s EMIR 3.0 regulation, which mandates active accounts with European CCPs for EUR-denominated IRS clearing. Clearing Services Extended to Six New Currencies The newly supported currencies include USD, SEK, NOK, CHF, DKK, and GBP, in addition to EUR. This development positions SIX as a competitive option for market participants needing IRS clearing across multiple currencies. According to José Manuel Ortiz-Repiso, Head of Clearing and Repo Operations at…

CFI Financial Group has officially launched operations in South Africa, appointing Zihaad Israfil as CEO of its South African subsidiary. Israfil, with nearly two decades of experience in leadership, sales, and trading, is expected to spearhead the company’s growth and strengthen its presence in the region. The expansion follows CFI’s acquisition of a Category 1 Financial Service Provider (FSP) license earlier this year from the Financial Sector Conduct Authority (FSCA), granting the firm the regulatory clearance to operate in South Africa through its subsidiary, CFI Financial (PTY) LTD. “Our entry into South Africa marks a key milestone in our global…

Devexperts’ white-label trading platform, DXtrade, has expanded its capabilities by integrating with Track360, an advanced introducing broker (IB) and affiliate management system. This enhancement enables brokers using DXtrade to manage partnerships more efficiently, streamlining IB and affiliate operations directly through their trading infrastructure. New Tools for Partnership Management The integration with Track360 introduces advanced partner management features to DXtrade. Brokers can now track partner performance, manage multi-tiered commission plans, and automate payments, all within the platform. These tools complement DXtrade’s existing suite, which includes web and mobile trading applications, client support interfaces, real-time exposure management, and configurable dealing settings. “DXtrade…

Saxo, a global multi asset trading and investment firm, has joined forces with Portuguese bank novobanco to provide a cutting edge digital investment experience. This partnership integrates Saxo’s advanced trading platform into novobanco’s services, offering Portuguese investors greater access to global markets and a broader range of investment options. Expanding Digital Investment Opportunities The collaboration reflects the growing demand in Portugal for digital financial solutions that cater to a wide range of investment needs. Through this partnership, novobanco clients will gain access to Saxo’s award-winning platform, which includes advanced trading and analytical tools designed to empower both individual investors and…

Interactive Brokers Group, Inc. (Nasdaq: IBKR) reported significant growth in its November performance, showcasing robust trading activity and rising client equity. Daily Average Revenue Trades (DARTs) surged to 3.3 million, a 74% increase compared to the same period last year. Strong Client Metrics and Equity Growth Client equity reached an impressive $575.9 billion in November, marking a 42% increase year-over-year. Additionally, client margin loan balances grew to $60.2 billion, while credit balances, including $4.7 billion from insured bank deposit sweeps, totaled $118.8 billion. The platform also saw an expansion in its user base, with client accounts rising to 3.25 million.…

Nikolay Storonsky, CEO of Revolut, has voiced strong criticism of London’s financial ecosystem, emphasizing that the U.S. offers a far more attractive environment for companies seeking initial public offerings (IPOs). His remarks suggest Revolut, one of Europe’s largest fintech firms, may bypass a London IPO in favor of New York. Storonsky identified two key obstacles that make London less appealing: a 0.5% stamp duty on share transactions and limited market liquidity. These factors, he explained, hinder London’s ability to compete with the U.S., which boasts deeper capital markets and broader investor interest. A Growing Trend of British Firms Looking West…

Taurex, a leading global multi-asset broker specializing in Forex and CFDs trading, has achieved a significant milestone by securing an Arrangement and Advice license from the United Arab Emirates (UAE) Securities and Commodities Authority (SCA). This Category 5 license authorizes Taurex Financial Services L.L.C. to promote, provide financial consultations, and introduce clients to affiliated regulated brokerages. Enhancing Services in a Growing Market The UAE has rapidly become a global financial hub, attracting a diverse community of traders and investors. With the new SCA license, Taurex is well-positioned to meet the needs of this dynamic market by offering tailored financial consultancy…

The South Korean won has plunged to its lowest value against the U.S. dollar since 2022, reflecting widespread market instability following President Yoon Suk Yeol’s controversial declaration of martial law. The fallout has extended beyond traditional markets, with Bitcoin and other cryptocurrencies experiencing sharp declines on Korean exchanges. Political Turmoil and Martial Law President Yoon justified the imposition of martial law as a necessary measure to protect the nation from what he described as anti-state forces and North Korean threats. However, the move has drawn intense criticism both domestically and internationally, raising concerns about its impact on South Korea’s democratic…

Robinhood, the California-based platform known for commission-free trading, has announced plans to acquire TradePMR, a firm specializing in custodial and portfolio management services for Registered Investment Advisors (RIAs). The $300 million deal, involving a mix of cash and stock, is expected to close in the first half of 2025, pending regulatory approval. Expanding into a $7 Trillion Market The RIA market, valued at over $7 trillion, is one of the fastest-growing segments in wealth management. By acquiring TradePMR, Robinhood aims to bridge the gap between retail investors and fiduciary advisors, providing users with access to customized financial guidance alongside its…

London based brokerage Zenfinex has joined forces with Your Bourse, a technology provider specializing in risk management and trade execution services, to improve its trading infrastructure. Through this partnership, Zenfinex aims to provide enhanced liquidity and risk management solutions to brokers, asset managers, and hedge funds across various asset classes. Boosting Liquidity and Trading Efficiency This collaboration enables Zenfinex to offer a range of trading tools, including the MT4 Bridge and MT5 Gateway integration, which are designed to improve execution speed and risk management. The partnership allows clients to access these tools at no extra cost, as reported by Reuters.…