The Mauritius-based firm said the licence marked a “significant step” in its strategy to establish a regulated presence in the UK, one of the world’s largest financial hubs with an estimated 19 million active traders in 2024. “We’re incredibly proud to take this step,” said Gareth Derbyshire, spokesperson for Ultima Markets. “Becoming FCA-regulated reflects our…
Read more
The London-listed fintech group posted revenue of $415.1m for the six months to June 30, up 4% from $398.2m a year earlier. EBITDA edged 1% higher to $185.1m, representing a margin of 45%. Active customers rose 2% to 179,931, while the average revenue per user increased 2% to $2,307. Average deposits per active customer more…
Read more
OTP Bank is one of Hungary’s largest commercial banks and part of OTP Group, a leading banking group in Central and Eastern Europe undergoing significant growth. Its decision to join CLSSettlement is said to reflect the increasing adoption of payment-versus-payment (PvP) settlement solutions among financial institutions seeking to reduce foreign exchange settlement risk, enhance operational…
Read more
The London- and New York-based software provider serves financial markets with AI-native application development tools aimed at modernising legacy systems, reducing vendor dependencies and replacing end-user computing. “Leading Genesis has been the thrill of my career,” Murphy said. “I am deeply proud of what we have built in partnership with our inspirational clients, strategic partners…
Read more
The company said its new offerings, including a public API, AI-powered dashboards, and algorithmic trading tools, will allow vetted users known as Popular Investors to build and share bespoke strategies. “We’re enabling our Popular Investors to innovate like top quantitative hedge funds,” said CEO Yoni Assia. The rollout includes Tori, eToro’s AI companion, which delivers…
Read more
Szandra succeeds John Bendermacher, who is retiring after a tenure leading the group’s internal audit function. Her appointment marks a return to Euroclear’s audit roots, having begun her career at the company in 2010 within its Internal Audit team. She brings extensive experience and a deep knowledge of the organisation to her new role. Since…
Read more
Based in Somerville, Massachusetts, oneZero is a global provider of multi-asset enterprise trading technology. In his new role, Collins will oversee the firm’s institutional sales strategy and execution in both regions. Collins brings more than two decades of financial services experience, including senior roles at LSEG FX, Refinitiv, Bloomberg LP and BNP Paribas. At Refinitiv,…
Read more
The acquisition, subject to shareholder approval, will constitute a reverse takeover under AIM rules, prompting a temporary suspension of Fiinu’s shares from 7.30 a.m. on 7 August. The deal includes an initial payment of £8 million through the issue of 80 million new shares at 10p each. A further £4 million in shares may be…
Read more
The deal, first announced in March, sees Benchmark’s team and operations integrated into StoneX’s Institutional division. The Benchmark brand will be retained in the near term to maintain client continuity. Benchmark is known for its strong client relationships and expertise in sectors such as technology, industrials, consumer and healthcare. The firm provides investment banking, equity…
Read more
The move follows Figma’s U.S. market debut on 31 July, which saw shares surge 250% on the first day of trading. Priced at $33 per share in its initial public offering, Figma closed at $115.50 on day one, valuing the company at around $68 billion. However, it has since declined and now trades just above…
Read more