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.
A new FX trading platform, FXProX, has officially launched, offering a suite of advanced features designed to streamline currency trading for institutional clients. Backed by BlueCrest Capital Management, the platform debuts at a time when currency market volatility is reaching significant highs. FXProX represents a major innovation in foreign exchange trading, incorporating both sophisticated automation and third-party applications to provide seamless integration within institutional trading workflows. The platform has been licensed by the Jersey Financial Services Commission (JFSC), allowing it to operate in global markets. Revolutionizing Institutional FX Trading FXProX, developed by BlueCrest Capital Management, is set to redefine the…
CME Group, the global derivatives marketplace, experienced a 31% increase in average daily volume (ADV) in August, reaching 31.7 million contracts. The surge in trading volume was driven by strong performances across all six of its asset classes. Record-Breaking Trading Activity in Interest Rate Contracts The biggest contributor to CME’s record performance was interest rate contracts, which set a new all-time high with an ADV of 18.3 million contracts. The U.S. Treasury sector also saw record-breaking activity, with a monthly ADV of 11.5 million contracts, including notable growth in 2-year, 5-year, and 30-year futures. Additionally, SOFR (Secured Overnight Financing Rate)…
The proprietary trading industry is currently divided over the concept of “gamification,” following concerns raised by Italy’s financial markets regulator, Consob, which likened some prop trading practices to “video games.” One industry executive rejected the comparison, stating, “I don’t think the ‘video game’ label fits,” while another found Consob’s caution “appropriate and timely.” Prop Trading and Gamification: A Controversial Topic David Varga, Co-Founder of Fintokei and Purple Trading, commented on the issue, saying, “I think gamification can be beneficial if applied with good intentions.” Varga sees value in the educational potential of gamification, using apps like Duolingo as an analogy.…
Earlier this year, Trading 212 introduced interest payments on uninvested funds, but a clause initially allowed the broker to withhold interest from inactive clients. The company has now removed this limitation, benefiting passive investors. Changes to Interest Payments for Passive Investors Retail brokers and CFD firms have increasingly started offering interest on idle client funds as a way to cater to savers and passive investors. London-based Trading 212 joined this trend in May by offering interest on uninvested cash, encouraging its clients to keep funds in their accounts. However, the original terms included a provision that gave the broker the…
The company’s logo will feature prominently on PSV’s lineup and interview jackets during European matches. Online trading firm iFOREX has announced a new partnership with Dutch football club PSV Eindhoven, becoming the official Trading Partner for PSV’s UEFA Champions League campaign. This collaboration marks a significant step in iFOREX’s efforts to expand its brand visibility in the sports arena, as confirmed by a statement from the club. Rekindling a Sports Partnership This latest deal revives a previous collaboration between iFOREX and PSV Eindhoven, which spanned from 2016 to 2018. The iFOREX logo will now be prominently displayed on PSV’s lineup…
In a strategic move to bolster global payment services, Netherlands-based PayU has announced a partnership with Mastercard to introduce advanced cross-border issuer authentication solutions. This development is part of PayU’s broader strategy, which also includes recent collaborations with Visa and Mastercard aimed at enhancing card tokenization processes. Additionally, PayU has integrated Amazon Pay Later into its checkout system, enabling online merchants to offer customers instant credit options. This integration is a key step in PayU’s mission to simplify and secure online transactions, providing a more seamless shopping experience. Strengthening Global Payment Systems PayU’s new cross-border issuer authentication solution is designed…
The forex market in Belarus is witnessing a notable downturn, as evidenced by the decreasing activity within the sector. A recent development in this context is the exit of Forex4you, which has now rebranded to Markets4you, from the Belarusian market, though the specific reasons for this decision have not been disclosed. Market Contraction and Firm Closures Forex4you recently closed its Minsk office, reducing the number of licensed forex operators in Belarus to just six. This action was accompanied by the suspension of the forex4you.by website, reflecting the broader challenges faced by the Belarusian forex industry. According to a report from…
Separate entities show divergent financial outcomes, with one posting a profit while the other incurs a loss. In 2023, the financial performance of Monex Europe’s two UK-based entities, Monex Europe Limited and Monex Europe Holdings Limited, revealed a mixed financial landscape. Both entities experienced a decline in trading income, but their final net results showed a stark contrast. 2023 Financial Overview for Monex Europe Monex Europe Limited, which primarily offers commercial foreign exchange and payment services, operates under the umbrella of Monex Europe Holdings Limited. According to the financial report, Monex Europe Limited serviced clients within the EU. The company…
The company reports a 4% growth in trading revenue and achieves positive EBITDA. In the first six months of 2024, Admirals Group AS demonstrated resilience by increasing its trading revenues and turning EBITDA positive, despite facing a low-volatility market environment. The Group’s net trading income climbed 4% to EUR 22.0 million, up from EUR 21.1 million during the same period in 2023. Positive EBITDA Achieved The Group successfully reduced its operating expenses by 9%, bringing the total down to EUR 22.9 million from EUR 25.2 million in the previous year. EBITDA reached EUR 0.4 million, marking a significant recovery from…
Nasdaq Futures, Inc. has been hit with a $22 million penalty by the Commodity Futures Trading Commission (CFTC) for failing to disclose a key element of its incentive program that impacted payments to certain participants. The violations occurred during the firm’s operation as a designated contract market (DCM) between July 2015 and July 2018. Unreported Volume-Based Payments Nasdaq Futures had introduced an incentive scheme known as the DMM program, which publicly stated a fixed stipend for market makers. However, the company did not reveal that payments were also influenced by a volume-based component, which was a significant part of the…