The UK subsidiary of Australian retail CFD broker Axi revealed in its recently published annual financial statements that it also saw net profit rise 89.5% to $3.92 million, despite a decline in client money balances to $19.3 million from $21.3 million. Operating profit grew to $3.45 million, while the cost of sales nearly doubled to…
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The deal is expected to be immediately accretive, with OTC generating over $400 million in revenue in 2024, representing an acquisition multiple of less than 0.8 times revenue. "The completion of this acquisition marks a transformative step for BGC, that firmly establishes our company as the world's premier energy, commodities, and shipping broker," said Sean…
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However, trading activity declined 4% from February, according to the latest brokerage performance report. Client accounts rose 32% from the previous year to 3.62 million, with 87,700 new accounts added in March. However, the brokerage said 13,300 accounts were escheated to governmental authorities as required by law. Client equity stood at $573.5 billion, up 23%…
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The company said CFI Prime provides access to deep liquidity pools sourced from Tier-1 banks and top Prime-of-Prime brokers. The platform is also expected to deliver a broad range of asset classes through a single connection, while its low-latency hubs ensure fast execution. “CFI Prime marks a significant milestone, enabling us to provide sophisticated services…
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The firm announced the news on Thursday, saying it expects to complete the sale in the second half of 2025, with 3,600 customers and £3.2 billion in assets under administration transferring to InvestAcc. Under the agreement, AJ Bell will receive £18.5 million upon completion, comprising £17.5 million in cash and £1 million in new InvestAcc…
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Wall Street rebounds, but sentiment stays fragile The S&P 500 bounced nearly 2% on Monday as traders bet the White House might ease back on the scope of new tariffs. That optimism spilled over to Asia, where the Hang Seng and Nikkei saw modest gains. However, this rebound came amid falling US consumer confidence, with…
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The brokerage said the service is set to launch later this year and will provide a range of private banking-style benefits, including high-yield savings, global money transfers, and exclusive event access. According to Deepak Rao, GM and VP of Robinhood Money, “With Robinhood Banking, we’re trying to solve many of the challenges presented by legacy…
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The brokerage highlighted Hegeman’s extensive expertise in digital advertising, product development, and business strategy. Hegeman currently serves as Chief Revenue Officer at Meta, where he leads the company’s global monetisation strategy. Since joining Meta in 2007, he has reportedly played a key role in shaping its advertising business, overseeing teams across ads, Feed, Stories, notifications,…
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The move marks a significant step towards its long-anticipated public listing. The social trading platform plans to list its Class A common shares on the Nasdaq Global Select Market under the ticker symbol “ETOR”. However, the company has yet to disclose key details such as the number of shares to be offered and the expected…
Read moreThe move marks the company's expansion into India's futures trading market. Mehta Equities, founded in 1995 by Rakesh Mehta, provides broking services, portfolio management, investment banking, and custodian services. It is regulated by the Securities and Exchange Board of India (SEBI) and holds memberships with key Indian exchanges, including the National Stock Exchange (NSE) and…
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