Author: Desmond Brooks
Desmond Brooks
Desmond Brooks is a skilled financial strategist with a keen eye for market analysis and trading opportunities. With a solid foundation in finance and a passion for economic trends, Desmond provides clear, actionable insights that help traders navigate the complexities of the market. He has contributed to several financial platforms, where his expertise in strategic planning and risk management has made him a trusted voice in the trading community.
Mastercard has joined forces with Morocco-based BCP Group to improve cross-border payment solutions across African markets. The partnership aims to simplify international money transfers, make transactions more affordable, and foster economic growth by enhancing connectivity between local and global markets. Enhancing Cross-Border Transactions The collaboration leverages Mastercard’s advanced payment technology and BCP Group’s extensive regional presence. Built around the Mastercard Move platform, the initiative offers near-instant, traceable payments at competitive rates. It targets both individuals and businesses, streamlining the movement of funds across borders. Kamal Mokdad, General Manager of BCP & International, highlighted the partnership’s significance, stating that it reflects…
YourPropFirm, a growing provider of proprietary trading solutions, has announced a strategic partnership with financial software developer Devexperts to integrate the DXtrade platform into its multi-platform trading offering. This collaboration enables prop firms to diversify their trading platforms and offer traders greater flexibility and functionality. Expanding Trading Options for Prop Firms The partnership signals a shift in the proprietary trading industry, where platform exclusivity has traditionally dominated. YourPropFirm’s new multi-platform approach now includes DXtrade alongside MT5, providing firms with alternative tools to navigate platform-specific challenges and enhance their operations. “Adding DXtrade to our platform lineup means prop firms have real…
Tastytrade, a Chicago-based retail trading platform and U.S. subsidiary of IG Group (LSE: IGG), has been fined $30,000 by the Financial Industry Regulatory Authority (FINRA). The penalty stems from a failure to properly supervise employees’ outside securities accounts over a two-year period, between July 2021 and June 2023. Compliance Issues Identified According to FINRA, tastytrade failed to establish and enforce an effective supervisory system, including written supervisory procedures (WSPs), to monitor outside trading accounts disclosed by its employees. Approximately 84 accounts belonging to 35 employees were affected. The investigation uncovered significant delays and lapses in reviewing these accounts, with some…
smartTrade Technologies, a French provider of multi-asset electronic trading and payment solutions, has promoted Laurent Danesi to the role of Chief Innovation Officer. A seasoned technology expert, Danesi has been with the company for more than 20 years, holding various leadership positions throughout his tenure. Danesi’s Journey at smartTrade Danesi began his career with smartTrade Technologies in 2004 as a System Architect. Over the years, he has taken on key roles, including Chief Architect and Head of Product Development. His promotion to Chief Innovation Officer reflects his long-standing contributions to the company and his expertise in driving technological advancements. Recent…
Tastytrade, a retail trading platform based in Chicago and a subsidiary of IG Group, has been fined $30,000 by FINRA. The penalty addresses the company’s failure to adequately monitor employees’ outside securities accounts between July 2021 and June 2023. Investigation Findings FINRA’s investigation revealed significant delays in reviewing 84 accounts linked to 35 employees. Some accounts remained unchecked for over a year, and 14 accounts went completely unreviewed until June 2023, when FINRA initiated a compliance examination. The regulator highlighted that Tastytrade lacked proper written supervisory procedures to ensure regular monitoring and documentation of employee trading activities. Settlement and Compliance…
Acuity Trading has announced a strategic partnership with FinTech360 to streamline broker operations and enhance the quality of trading insights. This collaboration combines Acuity’s expertise in market analysis and trade signals with FinTech360’s technology-driven approach to trading, providing brokers with efficient, actionable insights. Empowering Brokers Through Technology and Analysis FinTech360, recognized for its technology that elevates trading experiences, will now integrate Acuity Trading’s advanced market research and trade signal tools into its offerings. According to Aaron Bitter, CEO of FinTech360, this partnership is aligned with their commitment to delivering innovative and comprehensive solutions. “By incorporating Acuity’s Signals and News tools,…
Cronos Labs, a blockchain startup accelerator focused on expanding the Cronos blockchain ecosystem, has announced an enhanced strategic partnership with Google Cloud, which will serve as the primary cloud provider for Cronos and its ecosystem. The collaboration aims to strengthen the infrastructure, improve developer adoption, and foster innovation within the Cronos ecosystem across four main pillars: Google Cloud as a Cronos Validator Google Cloud will join Cronos as a validator, contributing to network stability and security by managing a validator node on the Cronos EVM protocol. This aligns with Cronos’ strategy to partner with industry leaders and top-tier validators, including…
DeFinity Markets, a digital asset platform for institutional grade fiat and crypto trading, has announced a strategic partnership with Fireblocks. Known for its secure blockchain infrastructure, Fireblocks will support DeFinity by offering advanced cold storage and compliance solutions, catering to institutional clients looking for secure trading options. The collaboration with Fireblocks allows DeFinity to provide enhanced protection for digital assets, offering clients both traditional bank backed and Fireblocks backed options. This flexibility strengthens asset security, a growing priority for institutions participating in digital finance. Enhanced Trading Security and Efficiency By integrating Fireblocks’ secure infrastructure, DeFinity Markets aims to elevate its…
A report by MillTechFX reveals that a majority of UK and US firms have made significant changes to their foreign exchange (FX) hedging strategies following Donald Trump’s re-election as U.S. president. The adjustments come in response to heightened currency market volatility and a sharp rise in the dollar’s value. The 2024 U.S. presidential election has caused a widespread reassessment of corporate risk management approaches. Over 90% of businesses in the UK and US have revamped their FX programs, with many increasing hedge ratios, extending the duration of hedges, and locking in rates for longer periods. This reflects an effort to…
EXANTE has opened a new office in Dubai International Financial Center (DIFC) as part of its strategic expansion into the Middle East. The move enables the global trading platform to provide clients in the UAE with access to over 50 financial markets and a wide range of trading instruments. Strengthening Presence in a Global Financial Hub Dubai’s status as a leading financial hub played a key role in EXANTE’s decision to establish operations in the region. The firm aims to capitalize on the UAE’s growing prominence as an investment destination while offering tailored trading solutions to regional clients. EXANTE operates…