Category: Exchanges

January 26, 2024 BY Simon Mugo

US Investors Keep Withdrawing Funds From Equities for the 4th Week

U.S. equity funds experienced net outflows of $3.04 billion during this period, the smallest amount in the past four weeks. This trend was mitigated by a rally on Wall Street, mainly driven by solid gains in the tech sector following optimistic projections from TSMC and Super Micro Computer (SMCI.O). U.S. value funds witnessed net redemptions…

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January 03, 2024 BY Elizabeth Anderson

2024’s first BIG IPO by healthcare provider BrightSpring

According to a Bloomberg report released in September of last year, BrightSpring, backed by investment management company KKR & Co. (KKR), originally hoped to garner $1bn in IPO, although this figure is now absent from the most recent filing from the US Securities and Exchange Commission on 2 January. In 2023, the healthcare provider saw…

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December 22, 2023 BY Elizabeth Anderson

Hedge fund performance in 2023

Data shows fluctuating market highs and lows put many global hedge funds on the back foot. Moves, such as losses when trading on macroeconomic events drew the shortest straw due to the unanticipated rebound in government bonds. Other investments, such as those related to US tech stocks, hit their marks. Compared to hedge fund performances…

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eToro booth
December 15, 2023 BY Simon Mugo

eToro Adds Almost 700 US Stocks to Its Tradable Assets Portfolio

The expansion not only offers a broader range of stock options to eToro's users but also aligns with the company's mission to provide cost-effective trading solutions. The users now have the chance to diversify their investment portfolios more robustly by adding these stocks. The expansion covers a variety of new stocks, thus broadening investment choices…

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BidX Markets
December 14, 2023 BY Simon Mugo

BidX Markets Offer Interest on Cash Holdings of up to 5.1%

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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TMX Group
December 14, 2023 BY Simon Mugo

TMX Group Acquires Remaining 78% Stake in VettaFi for $848 Million

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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Tradeweb
December 05, 2023 BY Simon Mugo

Tradeweb Records $38.2 Trillion in November Trading Volume

The company's success in the rates market was particularly noteworthy. The daily average volume for U.S. government bonds grew by 19.5% year-over-year, amounting to $163.7 billion. Similarly, the European government bonds saw a 30.5% year-over-year increase, totalling $44.8 billion. Factors contributing to this growth include an expanded client base, diverse trading methodologies on the institutional…

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November 28, 2023 BY Elizabeth Anderson

Zero-day bets boom as short-dated options grow

Nasdaq’s new contractual options are based on the exchange-traded products of the United States Oil Fund, SPDR Gold Shares, iShares 20+ year Treasure Bond ETF (TLT), United States Natural Gas Fund and iShares Silver Trust. The short-term options market is well built for stock index products, and, while it has historically been the case that…

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September 11, 2023 BY Elizabeth Anderson

Nasdaq gets the SEC green light for first AI exchange order type

Dynamic M-ELO aims to speed up order matches and minimise market impact, boosting the efficiency of an already speedy stock market even more. According to the exchange, this will establish better trading outcomes.  This initiative follows predictive AI, the Strike Price Optimisation Programme, implemented in the Nasdaq U.S. options market earlier this year. It enhanced…

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Swiss Stock Exchange
July 21, 2023 BY Steffy Bogdanova

SIX reports 2.6% rise in operating income to CHF 771.1 million in H1 2023

Operating result before interest, tax, depreciation and amortization (EBITDA) came in at CHF 225.6 million, up by 5.6% compared to the first half of 2022. Earnings before interest and tax (EBIT) for the period consequently fell by 17.4% to CHF 133.3 million. The Switzerland-based exchange remains positive given its results achieved in a "challenging market environment, dominated…

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