This was driven by positive market movements of £1.5 billion and net new business of £0.5 billion. The company, which agreed in August to be acquired by a private equity consortium for £5.4 billion, experienced net client growth of 18,000 in the quarter, primarily due to net new clients in SIPP, ISA, and Active Savings accounts.…
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The investigation originated from Käärmann's inclusion on the HMRC list of individuals who received penalties for deliberate tax defaults in 2017/2018. While the FCA said in its release that it did not find that Käärmann acted with a lack of integrity or was unfit to perform his role, it determined that he should have notified…
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Plus 500's revenue for the quarter increased by 11% to $187.3 million, while EBITDA rose 2% to $82.2 million. The company reported that customer income increased by 8% to $166.3 million in the quarter, up from $153.6 million in Q3 2023. The company also saw a 21% increase in new customers, reaching 24,922, and a 17% increase…
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The global payment services provider explained in its press release announcing the deal that the collaboration combines Worldline's extensive transactional data with Visa's Cybersource Decision Manager, offering businesses a powerful tool to combat fraud and optimise customer experiences. The partnership is said to be particularly beneficial for the travel industry, where both Worldline and Visa…
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The move will significantly bolster BGC's Energy, Commodities, and Shipping (ECS) business and expand its global reach. OTC brings a wealth of expertise and a strong client base, with operations spanning North America, Europe, and Asia. The company offers a wide range of brokerage services, including crude and refined products, petrochemicals, natural gas, ship brokerage,…
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According to a FINRA Letter of Acceptance, Waiver, and Consent (AWC), Interactive Brokers made errors in calculating the number of excess shares of stocks listed on European exchanges it had available to return to customers. This resulted in over 800 instances where the firm returned borrowed shares prematurely, causing them to fall into a segregation…
Read moreOptAxe explained in a press release that it aims to address the inefficiencies and fragmentation of the current FX options market by providing a centralised platform for liquidity discovery, dissemination, and execution. "OptAxe offers an innovative and automated approach to FX options trading that digitises and centralises the distribution of FX options axes," the company…
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Integrated into the Swissquote platform, it aims to offer greater accessibility for investors looking to diversify their portfolios. In addition to introducing fractional share trading, Swissquote also revealed it has rolled out a savings plan feature. The company explained that with this tool, users can automatically invest small amounts into selected stocks or exchange-traded funds…
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The strategic solution is said to be aimed at helping companies manage currency fluctuations and simplify treasury management processes. The extension of guaranteed FX rates follows a significant increase in cross-border payments, driven by growth in industries like e-commerce, services, manufacturing, and the gig economy. BofA explained that in recent years, the volume and value…
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The new feature allows customers to borrow money from Robinhood to purchase additional securities, leveraging their existing holdings as collateral. The new feature comes after the product's recent approval following Robinhood's recent discussions with the UK financial regulator, the Financial Conduct Authority (FCA). With rates starting at 5.2%, Robinhood said it aims to provide UK…
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