Forex Weekly Look Back: CMC Markets partners with Gold-i, Plus500 revenue jumps 96% YoY in Q3

Looking back at the most intriguing and popular industry news from the past week between 26th and 30th October on LeapRate.

The global provider of liquidity and white label trading CMC Markets has extended its liquidity distribution through a partnership with Gold-i. Brokers, banks and hedge funds can now access nearly 10,000 different instruments from CMC Markets across a range of asset classes at competitive rates through Gold-i’s multi-asset liquidity management platform, Matrix.

Deutsche Börse AG published its results for the third quarter and half year of the financial year 2020. In the third quarter of the financial year, Deutsche Börse reported net revenue of €707.5 million and a 9% drop compared to previous quarter for the financial year 2020 when it reached €777.5. Compared to the third quarter of 2019, there was a 4% decrease.

Derivatives marketplace CME Group released its financial results for the third quarter of 2020. The company registered revenue of $1.1 billion for the third quarter, 8% below the $1.2 billion in second quarter of 2020. The number is 15.4% lower than the same period the previous year when it was $1.3 billion.

FX technology provider Integral announced that their long-established partnership with Refinitiv has been extended on a multi-year basis. Integral and Refinitiv will continuing to work together to ensure that customers of Refinitiv’s multi-dealer platform can continue to use Integral’s price engine technology in the seamless way they are used to.

Technology and service provider to financial institutions Itiviti announced the cloud transformation of its entire electronic trading platform. The company opted for a hybrid private-public cloud strategy to reinforce the modularity and flexibility of the Itiviti platform. Itiviti will operate the transformation in collaboration with data center experts Data Canopy and technology and supply chain services specialist Ingram Micro. The platform will be made available on the cloud leveragin Amazon Web Services (AWS).

Online service provider for trading CFDs, Plus500 issued a trading update for the third quarter of 2020, ended 30 September. The Israel-based online trading broker registered big uptick in revenue on yearly bases but a decrease since previous quarter. Plus500 reported $216.4 million in revenue for the third quarter, with a 96% leap compared to the third quarter the previous year when it was $110.6 million. However, the numbers are down compared to the second quarter of the year and the significant jumps in the first quarter.

Technology provider for multi-asset brokers Brokeree Solutions and CRM provider to financial companies Skale Fintech Solutions announced a strategic partnership to offer brokerages turn-key, back-office management platforms and investment systems. The collaboration between the two companies aims to provide a seamless user experience and to empower brokers to quickly and effortlessly launch multi-tier systems with different services.

Management & real-time marketing automation platform Solitics announced that it supports live contextual pop-up messages on the MT4 and MT5 desktop app through an integration with CPattern. This new channel, together with Solitics’ real time data management & automation platform, offers new opportunities for increased engagement and revenue uplifts.

Software provider for the capital markets industry Devexperts has deployed a set of updates for DXtrade, a SaaS trading platform for FX/CFD brokers. The trading platform DXtrade was designed for new and expanding brokers, including those seeing DXtrade as a kick-start for their business and those looking to add an established platform to their current software range. For brokers’ dealers and administrators, DXtrade offers a functional and customizable backend to help set up risk management or segment their traders. For traders, the platform features useful widgets including Trading Journal or Dashboard that visualize performance.

Fintech firm Skilling Group announced the appointment of industry veteran Michael Kamerman as CEO. Kamerman joins Skilling with more than 15 years’ experience at competitor, FXCM. The announcement follows a series of significant milestones for Skilling. In the past ten months Skilling has launched the Metatrader 4 platform, obtained a regulatory licence in Seychelles, received branch authorisation from the UK’s FCA and secured partnerships with Premier League football club Aston Villa, and global chess player Magnus Carlsen.

Forex Weekly Look Back

IronFX has launched IronFX Trading School, an online trading educational page which will offer support to beginner, as well as professional traders. The IronFX Trading School will deliver tools, educational articles and trading strategies to help traders achieve their trading goals. IronFX’s traders and investors will have access to a range of trading resources to sharpen their skills, optimise their trading strategies and become adept at identifying and seizing the right opportunities.

Visa Inc. announced signing a definitive agreement for the acquisition of YellowPepper, fintech firm supporting financial institutions and startups in Latin America and the Caribbean through its partnerships. Visa made a strategic partnership and investment in YellowPepper in May 2018 and the acquisition builds on that. YellowPepper’s platform provides issuers, processors and governments with a range of APIs that will allow them to quickly and securely access multiple payment rails for many payment flows through one connection.

Online global forex and CFD broker Pepperstone announced entering the Kenyan forex trading market. Pepperstone Group’s subsidiary, Pepperstone Markets Kenya Ltd, secured a non-dealing Foreign Exchange Broker License from the Capital Markets Authority of Kenya. Pepperstone offers more than 170 tradable instruments via its MT4, MT5 and cTrader platforms to more than 89,000 clients worldwide.

After Zurich-based SIX reported solid performance for the first half of 2020, the Swiss stock market was somewhat calmer in the third quarter 2020. The latest edition of the company’s ETF market reports shows the number of transactions for the first nine months already exceeding the number of the entire previous year by 22.10%.

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