Author: Desmond Brooks

StoneX Financial Ltd, the London-based subsidiary of StoneX, has renewed its partnership with the UK rugby club Saracens, introducing fresh and dynamic elements to their collaboration. This extended agreement, which encompasses all facets of the club, will see notable changes, including new jersey branding and enhanced community initiatives. New Front-of-Shirt Branding Starting with the 2024/25 season, the StoneX logo will replace City Index on the front of both the men’s and women’s Saracens team jerseys. This shift marks a significant milestone in their ongoing partnership, which has been in place since 2020 and has seen both the men’s and women’s…

Interactive Brokers is expanding its trading platform by integrating derivatives from Bursa Malaysia, providing clients with access to Crude Palm Oil Futures (FCPO) and FTSE Bursa Malaysia KLCI Futures (FKLI). This strategic move enhances market access and allows traders to tap into key instruments within the ASEAN region. Enhanced Market Opportunities With this integration, Interactive Brokers users can now trade FCPO and FKLI futures, enriching their investment strategies by including these pivotal ASEAN market instruments alongside a diverse array of global financial products. The FCPO contract, denominated in MYR, has been a global benchmark for crude palm oil pricing since…

Equinix, Inc. (Nasdaq: EQIX) continues its impressive growth trajectory, reporting strong second-quarter results that outpaced expectations, driven by surging demand for digital infrastructure and AI-related services. Equinix Achieves Record-Breaking Quarter Amid AI Surge The global data center giant saw its revenues rise by 7% year-over-year (YoY) to $2.16 billion, surpassing analyst predictions. Net income soared 45% to $301 million, while adjusted EBITDA exceeded $1 billion for the first time, reaching $1.036 billion. Equinix plays a pivotal role in the FX/CFDs trading industry by providing essential infrastructure and connectivity services, which have become increasingly critical in the digital age. CEO Adaire…

The global financial markets are experiencing heightened volatility as a significant unwinding of the yen carry trade sends ripples through various asset classes. This widely-used trading strategy, which involves borrowing in low-interest currencies like the Japanese yen to invest in higher-yielding assets, is undergoing a dramatic reversal, catching many investors off guard. Yen Surge Triggers Market Turbulence In recent weeks, the Japanese yen has appreciated nearly 7% against the U.S. dollar, causing traders to rapidly unwind their carry trade positions. This shift has led to increased market volatility, particularly across currencies and other financial assets. Just a month ago, the…

Swiss interdealer broker Compagnie Financière Tradition (CFT) has announced strong financial results for the first half of 2024, with revenues reaching CHF 577.0 million, driven by robust performance across all regions and asset classes. Compagnie Financière Tradition Sees Revenue Growth in Q2 and H1 2024 CFT, headquartered in Switzerland, reported an adjusted revenue of CHF 577.0 million for the six months ending June 30, 2024, up from CHF 552.4 million during the same period last year. The company’s core interdealer broking (IDB) business led this growth, with revenues rising 9.4% at constant exchange rates to CHF 560.3 million. The Non-IDB…

The Asia-Pacific (APAC) trading and regulatory landscape is undergoing significant changes, and industry leaders are gearing up to discuss these transformations at the upcoming Finance Magnates Pacific Summit (FMPS). The event, scheduled for August 27-29 in Sydney, Australia, promises to be a pivotal gathering for fintech professionals, regtech experts, and trading specialists. As the financial services sector continues to evolve at a rapid pace, the FMPS will serve as a critical platform for exploring the future of trading and regulation in the APAC region. The summit will feature a two-day exhibition, offering attendees the opportunity to engage in panels, workshops,…

As economic uncertainties loom and the banking landscape undergoes significant shifts, the need for a fresh approach to business banking has never been more critical. The upcoming Finance Magnates Pacific Summit (FMPS) is set to explore what this new era of banking might look like, particularly within the Asia-Pacific (APAC) region. Scheduled for August 27-29 at the International Convention Centre in Sydney, Australia, FMPS will bring together a diverse group of industry leaders, experts, and attendees from both the B2B and B2C sectors. This event will serve as a platform for discussing the most pressing issues in banking and finance,…

Ben Singleton has announced his new role as General Manager at IC Markets, following a distinguished 17-year career in G10 FX trading. He brings significant experience from his previous roles at Crédit Agricole CIB, Bank of America, and Commonwealth Bank. Career Highlights and Experience Singleton’s most recent position was at Crédit Agricole CIB in Hong Kong, where he spent over 17 years, rising to the role of Executive Director. He was responsible for the G10 FX Trading, covering spot, swaps, precious metals, and e-FX/Algo trading in Asia. His duties included market making and trade execution. Before joining Crédit Agricole CIB,…

The month of July witnessed a notable surge in institutional Forex (FX) spot trading volumes across Asia, the US, and Europe. Leading platforms such as Click 365, Cboe, Euronext FX, and 360T reported substantial growth. Increased Institutional FX Activity in Asia and the US In Japan, the Tokyo Financial Exchange’s (TFX) Click 365 platform saw a marked increase in currency trading volumes. July registered 2,747,854 contracts, up 19% from June and 6.2% from the same period last year, with an average daily volume (ADV) of 119,474 contracts. The USD/JPY pair, the most traded, had an ADV of 33,496 contracts, reflecting…

Wall Street is home to some of the largest publicly traded Bitcoin (BTC) mining companies, with Marathon Digital Holdings leading the pack with a market capitalization of nearly $6 billion. Here’s a detailed look at the top five U.S.-based crypto miners listed on the stock market. Major Bitcoin Mining Companies on Wall Street Over 20 companies involved in Bitcoin mining are publicly listed on stock exchanges worldwide, with the majority based on Wall Street. Let’s explore the leading names in this sector. Marathon Digital Holdings (NASDAQ: MARA) stands as the top player in the Bitcoin mining industry, boasting a market…