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.
Broadridge Financial Solutions (NYSE: BR) announced its readiness to support new over the counter (OTC) derivatives reporting requirements in Australia and Singapore, while also preparing for upcoming regulatory shifts in Canada and Hong Kong. The fintech giant is enhancing its reporting solutions to ensure compliance with evolving regulatory standards across multiple jurisdictions. Expanding Global OTC Derivatives Reporting Capabilities Broadridge’s latest solution now meets the reporting requirements set by the Monetary Authority of Singapore (MAS) and the Australian Securities and Investments Commission (ASIC), which became effective on Monday. Additionally, the company is gearing up for similar regulatory updates in Canada and…
UP Fintech Holding Limited, a prominent online brokerage firm, has successfully completed its follow-on public offering, raising substantial funds to support its expansion efforts. The capital was secured through the sale of 15 million American Depositary Shares (ADS), each representing 15 Class A ordinary shares, priced at $6.25 per ADS. Strengthening Capital Reserves and Expanding Operations According to UP Fintech, the funds raised from the ADS offering will be used to bolster the company’s capital reserves and further its business development initiatives. Additionally, underwriters have been given a 20-day option to purchase an additional 2.25 million ADSs at the same…
Daman Markets, a leading forex and CFD trading provider under Daman Securities, has announced a new partnership as the Official Event Partner for the Dubai Racing Club (DRC) during the 2024–25 racing season. The official contract signing took place at Meydan Racecourse, attended by Daman Markets CEO Samer Mourched and Daman Securities General Manager Ahmed Waheed. A Notable Partnership in Horse Racing The Dubai Racing Club, renowned for its exclusive collaborations, sees this partnership as a significant event for both parties. The sponsorship aligns Daman Markets with prestigious institutions like the Dubai Racing Club and Meydan Racecourse, solidifying its presence…
Prop trading firm TradersYard has announced a strategic shift away from developing a social network for traders, opting instead to concentrate on creating trading challenges. The company shared on LinkedIn that this decision reflects a desire to streamline operations and align more closely with its core expertise in prop trading. According to the statement, this refocused approach is intended to simplify the firm’s objectives and bring renewed clarity to the team’s mission. Embracing a Focus on Trading Challenges “This new focus lets us do what we excel at,” TradersYard remarked, “and it’s infused our team with a fresh sense of…
Fulham Football Club has partnered with US based fintech firm FIS to create an innovation hub at Fulham Pier. The new “Markers, presented by FIS” center is designed to merge technology, business, and community innovation, with the goal of attracting business leaders and fostering a collaborative environment. Innovation and Collaboration at Fulham Pier As part of Fulham FC’s riverside redevelopment, Fulham Pier will host a variety of events, panel discussions, and innovation workshops. The collaboration also supports FIS’ ongoing FinTech Accelerator Program, making Fulham Pier a fintech incubator for the EMEA region. Alistair Mackintosh, CEO of Fulham FC, expressed enthusiasm…
Football Freestylers can now register for the highly anticipated xBar Cup 2025 online, as easyMarkets partners with Real Madrid to bring this event to life. Collaboration with Football Legend Roberto Carlos Trading pioneer easyMarkets, along with Real Madrid football icon Roberto Carlos, has announced the return of the xBar Cup, which was first introduced during the Dubai Expo 2024. This year, the competition takes an exciting twist by focusing on elite football Freestylers with a strong social media following. This shift aims to elevate the caliber of the competition, offering both professional Freestylers and fans an engaging platform to showcase…
Hantec Markets, a global Forex and CFD brokerage firm, has appointed Raphael Marsura Abel Ferraz as its new Regional Manager for Brazil and the LATAM region. With years of experience in the financial industry, Ferraz brings expertise that Hantec Markets hopes will strengthen client relationships and expand its market reach in Latin America. Ferraz expressed his enthusiasm for the new role, stating, “This opportunity with a company that has 34 years of industry history is truly exciting. I look forward to bringing my passion and dedication to the team, and I’m grateful for the trust placed in me.” Focus on…
BGC Group, Inc. has announced a primarily cash deal to acquire OTC Global Holdings, LP (“OTC”), the largest independent institutional energy and commodities brokerage firm. The acquisition aims to bolster BGC’s Energy, Commodities, and Shipping (ECS) business, expanding its reach in the global markets. Expanding Global Energy and Commodities Presence OTC Global Holdings operates across North America, Europe, and Asia, offering services in crude and refined products, petrochemicals, natural gas, and ship brokerage. BGC sees OTC’s product offerings as a strong complement to its existing ECS business, enhancing the firm’s ability to provide a more comprehensive platform for the global…
MetaQuotes has announced it will discontinue support for older versions of its MetaTrader 4 and MetaTrader 5 platforms starting December 1. Users must upgrade to specific versions to continue accessing broker servers without disruption. Minimum Supported Versions For MetaTrader 4, the minimum supported version will be build 1420, released on May 24, 2024. MetaTrader 5 users will need build 4410, which was released on June 21, 2024, to remain connected. Focus on Performance and Security MetaQuotes warned that users who do not update their platforms by the deadline will face disconnection from broker servers. The company emphasized that the new…
The U.S. Securities and Exchange Commission (SEC) has fined four companies a total of $6 million for providing misleading information to investors about significant cybersecurity breaches. Inadequate Cybersecurity Disclosures The SEC charged Unisys Corp., Avaya Holdings Corp., Check Point Software Technologies Ltd, and Mimecast Limited for downplaying the severity of cyberattacks. These companies reportedly failed to fully disclose the impact of one of the most high-profile breaches in recent years, leaving investors unaware of the true extent of the incidents. According to the SEC, the firms did not provide transparent information about the scope of the cybersecurity intrusions they faced,…