eToro and Bridgeweave team up to launch an AI portfolio targeting high-growth US companies LeapRate

February 01, 2023 BY Steffy Bogdanova

eToro and Bridgeweave team up to launch an AI portfolio targeting high-growth US companies

Among the firms included in the first portfolio are Array Technologies, Monster Beverage Corp., McDonald’s and Johnson&Johnson. However, eToro noted that the portfolio is not available to its US users. Bruce Keith, CEO at Bridgeweave said: Wealth management is being disrupted by changing demand from next-gen digital investors who will transform an underprepared industry. Partnering…

January 27, 2023 BY Steffy Bogdanova

Morgan Stanley imposes $1million penalties on bankers for using WhatsApp for official business

Reuters further reported that the penalty amounts were determined by the number of messages sent, seniority and whether the employees had already received warnings, as well as other factors. In 2020, Morgan Stanley fired two senior employees at its commodity division for using personal messaging apps. US regulators require broker-dealers to keep records of all…

January 26, 2023 BY Steffy Bogdanova

FLX Networks partners with Broadridge as a data and analytics provider

In each of these scenarios, FLX will use Broadridge analytics and insights offerings to power the distribution services that FLX provides to asset managers. FLX’s clients will also have access to Broadridge’s sales analytics, market analytics and Global Market Intelligence (GMI) products on the FLX platform to provide market and product analysis to drive more…

January 24, 2023 BY Steffy Bogdanova

Plum launches its personal finance app in five European countries

According to Plum estimates, the app has 1.5 million users across Europe and has handled more than €1.79 billion. Victor Trokoudes, co-founder and CEO of Plum, commented: We’re delighted to bring Plum to five new European countries and help people manage their finances there. This is a challenging economic period as people are experiencing levels…

January 24, 2023 BY Steffy Bogdanova

SEC fines Bloomberg $5 million for misleading disclosure on fixed income securities

Osman Nawaz, Chief of the Division of Enforcement’s Complex Financial Instruments Unit, said: Bloomberg has assumed a critical role as a pricing service to participants in the fixed-income markets and it is incumbent on Bloomberg, as well as on other pricing services, to provide accurate information to their customers about their valuation processes. This matter…

January 18, 2023 BY Steffy Bogdanova

Broadridge and IGM Financial extend partnership

Broadridge Wealth Platform is a scalable platform powered by an aggregated data layer. The open, component-based ecosystem is designed to help firms boost their effectiveness and optimize their productivity and digitization of enterprise operations. The solution provides end-to-end services for MDFA and IIROC advisors in a single platform. As part of the expansion of their…

January 17, 2023 BY Steffy Bogdanova

Equals Group reports 59% increase in 2022 revenue

The official announcement stated: The underlying performance was even better as 2021 included the 'one-off' revenue from a material trade of £1.5 million and gross profits of £0.8 million. Equals noted that the increase in EBITA in 2022 was also contributed by the company’s continued investment in future growth resources, including the addition of headcounts…

January 16, 2023 BY Steffy Bogdanova

CME Group sees record 7.56 million SOFR futures and options contracts on 12 January

Additionally, the derivatives marketplace operator also reported that average daily volume (ADV) of SOFR futures and options traded reached 4.7 million contracts in the first two weeks of January. CME Group stated in the official press release: Month-to-date January 2023 SOFR futures ADV is equivalent to 572% of Eurodollar futures ADV and SOFR options ADV…

January 11, 2023 BY Steffy Bogdanova

Cornerstone FS forecasts 109% revenue growth in 2022

The London-listed company highlighted that the strong performance was a result of a solid trading momentum throughout 2022 across all divisions of the Group. Cornerstone FS further revealed that around 78% of its total yearly revenue came from clients it serves directly, compared to 56% during the prior year. Additionally, the gross margin is expected…

January 10, 2023 BY Steffy Bogdanova

FCA fines Guaranty Trust Bank (UK) £7.6 million for AML failures

In the beginning of 2018, GT Bank stopped taking on new customers. Given the FCA’s concerns, the bank agreed to wider voluntary restrictions on business later the same year. These additional requirements remained in place until mid-2021. They were lifted then GT Bank remediation plan, which was checked by an independent third party. The FCA…

Category: Financial Services