Author: Desmond Brooks

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…

Tickmill has set a new benchmark in the Middle East and North Africa (MENA) region, achieving a record-breaking trading volume of over $135 billion in the first half of 2024. This marks a 54% increase compared to the same period last year, as the number of active traders also surged by 20%. Significant Growth in MENA Operations Tickmill’s performance in the MENA region during the first six months of 2024 has been nothing short of exceptional. According to data shared with Finance Magnates, the trading volume surged by nearly $50 billion compared to the first half of 2023. The company…

FXSpotStream Europe Ltd, the European branch of the multibank FX aggregation services provider for spot foreign exchange trading, has reported impressive financial growth for 2023. The company achieved a 40% increase in revenue and saw its net profit soar by over 60%. Strong Financial Performance According to a recent report filed with the UK’s Companies House, FXSpotStream Europe’s revenue reached $3.5 million in 2023, up from $2.5 million the previous year. This marks another consecutive year of financial growth for the company, highlighting its strong market position. Despite an increase in administrative expenses—from $2.5 million to $3.3 million—FXSpotStream Europe managed…

Swissquote has deepened its involvement in the sports arena by becoming the main sponsor for two prominent Swiss ice hockey teams: Zurich’s ZSC Lions and Genève-Servette Hockey Club. The Swiss-based online broker has extended its sponsorship agreements with these teams for another three years, solidifying its presence in the sport. Increased Visibility and Brand Exposure As part of the extended agreement, the Swissquote logo will prominently feature on the jerseys of both teams, as well as in stadium advertisements and hospitality areas during all Swiss National League games. The National League is Switzerland’s premier ice hockey competition, offering significant visibility…

Interactive Brokers has introduced trading access to Bursa Malaysia, one of the largest stock exchanges in Southeast Asia. This expansion allows clients to trade equities and ETFs denominated in Malaysian Ringgit while benefiting from streamlined foreign exchange conversion. Broadening Global Market Opportunities Interactive Brokers continues to extend its global investment offerings by incorporating Bursa Malaysia into its trading platform. With a market capitalization nearing USD 380 billion, Bursa Malaysia hosts over 970 companies across various sectors, including financial services, manufacturing, and oil and gas. David Friedland, Head of APAC at Interactive Brokers, emphasized the benefits of this expansion: “Our clients…

Broadridge Financial Solutions has announced a strategic partnership with YCharts, a leading cloud-based platform for investment research and client communication. This collaboration integrates YCharts with Broadridge’s Wealth Aggregation platform, aiming to elevate the efficiency and effectiveness of financial advisors by reducing manual data entry and enhancing portfolio management capabilities. Seamless Portfolio Management through Integration With this integration, financial advisors can now benefit from a streamlined data flow between YCharts and Broadridge’s Wealth Aggregation platform. The unified system simplifies the process of importing client account data, significantly cutting down on time-consuming tasks and allowing advisors to focus more on client engagement.…