TMX to acquire the remaining ~78% of the common units of VettaFi for US $848m. Deal accelerates long-term growth strategy as well as financial and transformational objectives Increases proportion of revenue from recurring and global sources Adds innovative new client service team and capabilities to GSIA, TMX's fastest-growing segment TMX has announced an agreement to…
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This announcement from BidX Markets follows shortly after a warning issued by the UK’s Financial Conduct Authority (FCA) against investment platforms engaging in "double dipping" – a practice where platforms retain a portion of interest on client cash balances while charging an additional fee for cash management. Simon Blackledge, the CEO of BidX Markets, said:…
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Valued at 15.4 times its projected 2024 adjusted EBITDA, VettaFi boasts over 80% recurring revenue. TMX Group expects the acquisition to positively impact its adjusted earnings per share within the first year. The deal, financed through $1 billion in bank debt, is anticipated to be finalised in January 2024. John McKenzie, the CEO of TMX…
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Investors are turning their attention to talks between the Bank of England (BOE) and the European Central Bank (ECB) which are set to take place later this afternoon. According to experts, the main point of conversation will be the easing of global rates, depending on whether neighbouring markets are ready for such decisions. Don’t miss…
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The increase in the participation rate resulted in the jobless rate ticking up from 3.8%, as the estimated 61,500 new jobs created in November were insufficient to maintain the previous unemployment rate. Although the jobless rate rose to 3.9% in November, the highest since April 2022, investors will likely prefer to focus on the surge…
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In a press statement, Alejandro Stipanicic, President of ANCAP, emphasised that it is the first time all offshore areas will have active contracts. The imminent signing of the OFF-3 area contract with Challenger Energy is anticipated in the coming weeks, pending approval by the executive branch of the ANCAP. The renewed interest in offshore exploration…
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A key prediction for 2024 is expanding brokers’ services beyond just access to the US market. Brokers will likely offer global stock and ETF trading and diversify into various asset classes. This shift is partly a response to declining broker revenues due to the push for zero commissions during the pandemic and increasing operational expenses.…
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Andrew Ralich, the CEO of oneZero, highlights that these developments are part of four key themes planned for the next year. These include advancements in artificial intelligence (AI) for analysing foreign exchange (FX) data, strategies to capitalise on market flow, and adapting to the T+1 settlement shift in North America. Ralich emphasises the importance of…
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Machinery and precision instrument stocks led the minor increase in the market as the US dollar briefly climbed to the 146-yen mark in Tokyo. Investor response to the Tankan survey indicates that the latest US inflation data might not be enough to spur the US Federal Reserve to initiate interest rate reductions soon, much to…
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In response to Venezuelan President Nicolás Maduro's proposal, ExxonMobil Guyana released a social media statement reiterating its dedication to Guyana and its intention to continue expanding production offshore in accordance with its agreement with the Guyanese government. Venezuela's push for the withdrawal of companies operating in the Essequibo region, known for its mineral wealth and…
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