Forex Weekly Look Back: BDSwiss adds 1000+ CFDs on ETFs and DMA stocks, Christian Frahm launches United Fintech

Looking back at the most intriguing and popular industry news from the past week between 9nd and 13th November on LeapRate.

Global Market Index Limited (GMI UK), an FCA-regulated provider of turnkey solutions to institutions and brokerages, announced the appointment of Chris Hossain-Nelson and Zaid Alkhatib to the Board of Directors. Hossain-Nelson will continue to lead Client Relations and Alkhatib will lead Operations and Compliance.

Forex and CFD brokerage Accuindex today announced that it has acquired Australian broker Ruizeanmarket’s Cyprus operations. Accuindex plans to strengthen its offering across key European markets with this acquisition. The new addition to the firm complements its already established international operations across the Middle East and East Africa.

United Fintech, a new concept which enables banks and financial institutions to accelerate access to innovative digital technology from a wide range of fintechs specialising in capital markets, launches today. United Fintech will offer easy access to new technology and accelerate implementation of proven solutions to banks and financial institutions. Its focuses on facilitating banks and financial institutions in their transition to a digital world.

Global commodities specialist Marex Spectron announced the acquisition of X-Change Financial Access (XFA), a fast-growing exchange-traded derivatives (ETD) execution broker. The transaction, which is expected to close on 13 November, expands the Marex Spectron product range, further strengthens its North American presence and builds on its global clearing infrastructure and it will provide XFA clients with ready access to complementary products and services.

Financial services Group BDSwiss has announced the expansion of its product offering with the launch of over a thousand new CFDs including 80 exchange-traded funds (ETFs) and over 900 leading stocks with direct market access (DMA). Available only on BDSwiss’ recently launched InvestPLUS account, the extensive new ETF and DMA stocks product range provides financial professionals with access to low-cost investment products at competitive conditions.

Provider of multi-asset financial technology solutions oneZero announced that clients may select from a growing list of post-trade regulatory vendors that may access their Data Source data to help them navigate regulatory requirements. Clients can enable post-trade regulatory vendors that are part of oneZero’s EcoSystem to access their data in a seamless manner, providing a streamlined experience for vendors, as well as clients. Clients can benefit further from a reduced time to market as regulatory reporting is made more accessible.

Deutsche Börse announced the trading volumes for Eurex and EEX for October 2020. The company saw drops on month-over-month basis across almost all areas. Eurex reported an almost 25% MoM drop in European equity index derivatives contracts turnover with 65.9 million for October 2020, compared to 87.7 million in September. The volumes of European equity index derivatives were 19.7 million. Overall, October volumes at Eurex stood at 125.9 million, down by 22.6% MoM compared to 162.7 million for the previous month.

Forex broker operating in Asia and MENA region, Market Equity, now offers MetaTrader 5 to its clients. Market Equity Inc. aims to open global markets for traders of all skill levels and make investing simple, efficient and cost-effective. This ambition has led to the launch of the advanced MetaTrader 5 platform with its ecosystem of services.

Provider of institutional FX trading and RegTech services DMALINK has partnered with Gold-i to offer its emerging markets liquidity through Gold-i’s Matrix NET. DMALINK and Gold-I’s partnership enables DMALINK to increase its global footprint, particularly in the APAC region where Gold-i has a strong client base. Gold-i’s clients will in turn benefit from a broader choice of liquidity including RegTech services and, in particular, enhances Gold-i’s offering for institutional clients – an increasingly key market segment for the global Fintech firm.

London-based broker TP ICAP announced has released a trading update for the nine months and third quarter ended 30 September 2020. TP ICAP reported that revenue for the first nine months reached £1,378m and only 1% lower than the prior year on a constant currency basis (2% lower as reported). The revenue for the third quarter was lower than the strong prior year and was 16% lower at constant exchange rates (19% lower as reported).  Revenue from the broking businesses was 18% lower in the quarter at constant exchange rates (20% as reported).

Forex Weekly Look Back

Eventus Systems, Inc., global provider of multi-asset class trade surveillance and market risk solutions, announced today that 100x Group, the holding structure for BitMEX, has chosen Eventus to support BitMEX’s trade surveillance and Anti-Money Laundering (AML) transaction monitoring. Cryptocurrency products trading platform BitMEX will deploy the cloud-based version of the Eventus Validus platform within the next few weeks.

Options, provider of cloud-enabled managed services to the global capital markets, has announced the appointment of former Scotiabank executive, Robert Strawbridge, as the firm’s new VP Head of Canada – Business Development. Strawbridge has over a decade of experience working with numerous foreign exchange technologies and e-Trading platforms. He joins Options with expertise across software, infrastructure and migrations, following stints with Scotiabank and TD Bank.

Stocks around the world soared on Monday after news broke that Pfizer’s Covid-19 vaccine has shown to be 90% effective in trials. Politically, a new risk is emerging: the refusal of the Trump administration to begin transition proceedings for President-elect Joe Biden. With US Covid-19 cases running at record levels, a transition process without information sharing and cooperation from the incumbent could get messy.

Fintech firm Broadridge Financial Solutions, Inc. (NYSE: BR) announced the appointment of Edmund Reese as Chief Financial Officer, effective 30 November. Reese joins Broadridge from American Express, where he served as Senior Vice President and CFO of company’s largest business unit, the Global Consumer Services Group. He has been with American Express since 2009 and has held several financial leadership positions, including SVP, Head of Investor Relations and CFO positions across the Global Lending, Travel and Global Business Services businesses.

Vanguard has admitted to sending clients inaccurate data regarding income for nearly a year. The Pennsylvania-based asset manager oversees $6.3 trillion for over 30 million investors around the world. On 31 August, clients reported difficulties logging in their accounts and conducting trades. On the same day Apple and Tesla announced stock splits.

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