Looking back at the most intriguing and popular industry news from the past week between 7th and 11th June on LeapRate.
Hong Kong Exchanges and Clearing Limited (HKEX) announced the appointment of Winsome Ng as Managing Director and Group Head of Internal Audit. In her new role at HKEX, Ng will oversee the Group‘s Internal Audit function and provide independent assurance to the Board on the group’s risk management, governance and internal control processes. Ng will join the company in early September and directly report to both Nicolas Aguzin, HKEX Chief Executive Officer, and Stephen Yiu, Chairman of HKEX’s Audit Committee.
Colin Murphy joined smartTrade as Chief Revenue Officer. Based in London, Murphy will manage the firm’s global sales teams and for driving business growth across all customer segments. At his new position as Chief Revenue Officer (CRO), will oversee the strategy and execution of the company’s revenue-generating activities and report directly to smartTrade’s CEO, David Vincent. The appointment follows strong customer demand in the previous year.
Global Online Trading Platform TMGM strengthened its market position as the CFD broker by securing an FMA license in New Zealand as part of the company’s global expansion strategy. TMGM announced its plans for expansion globally in late 2020. Entering the New Zealand market was a natural choice for the Australian-based company, being a close match to their current customer base. According to the official announcement TMGM, considers the new license a major win.
Online brokerage CMC Markets have revealed their final results for Q1, ending 31st March 2021. Highlights of the results include a recorded net operating income of £409.8 million, an increase of 63%. CMC also boasts a record performance in their latest post, as it follows its strategic direction to invest in technological advancements that support sustainable growth. Reporting on CFDs, revenue was up 22% per active client to £4,560, claimed to have been driven by CMC’s enhanced CFC retention of client income.
US investment bank Morgan Stanley appointed several E*Trade executives to the top ranks of the firm, Reuters reported. Among the new appointments are former Chief Financial Officer of E*Trade, Chad Turner, who will lead the digital direct business team in wealth management and Mike Curcio, E*Trade’s head of self-directed brokerage, who will serve as the head of strategic transformation. Andrea Zaretsky, previously E*Trade’s Chief Marketing Officer, will have the same role in Morgan Stanley’s wealth management. They will report to the co-president of the bank, Andy Saperstein.
Fintech firm Broadridge Financial Solutions, Inc. revealed yesterday the acquisition of AdvisorStream, a provider of digital engagement and marketing solutions for the global wealth and insurance industries. The acquisition of AdvisorStream will expand Broadridge’s front-to-back office wealth capabilities, allowing it to serve growth-oriented advisors and firms looking to attract and engage clients across key digital channels.
Globally regulated trading provider CFI Financial Group launched a new and improved website. The new website features redesigned user interface alongside a straightforward and easy-to-navigate user experience. It contains in-depth information on trading the different markets, educational material in the form of videos and articles, an easy to navigate online account opening form, client portal functionality, regulatory environment and risk disclosures, and a corporate section that showcases the ambitions and accomplishments of the CFI Financial Group among other essential elements.
Broadridge Financial Solutions, Inc. has released the latest version of its Private Market Hub platform, using Amazon Managed Blockchain from Amazon Web Services, Inc. (AWS). Broadridge utilises distributed ledger technology (DLT) to better streamline and connect the private equity ecosystem and assets. The updated platform deploys blockchain technology for the private equity market and adds connectivity to existing industry tools and technologies to further automate workflows between front-, middle- and back-office functions.
HSBC Holdings Plc appointed David Liao and Surendra Rosha as co-Chief Executive Officers of the Asia Pacific region to replace long time exec Peter Wong. Liao served as head of global banking Asia Pacific and Rosha was the CEO of HSBC India. They will drive the bank’s expansion in the region where most of its money comes from. Bloomberg reported that Liao and Rosha will step into their new roles immediately and report to Noel Quinn, the group CEO.
Bob Elfring, former executive of Bank of America Corp, was tapped by JPMorgan Chase & Co after three years out of the M&A Market. Elfring is set to take on a brand new position in which he will work as vice chairman of investment banking for the Middle East, Africa and Europe, as the bank fights for crucial advisory mandates to lead the M&A market as it resurges. Bob Elfring is now re-entering the M&A sphere following a three years absence after his departure from Bank of America.
International provider of forex and CFD trading services FXCM Group announced that its institutional business unit, FXCM Pro is with Fortex, a multi-asset trading technology platform. The collaboration between FXCM Pro and Fortex will see FXCM Pro’s liquidity integrated with Fortex’s XForce 2.0 platform. XForce 2.0 is a multi-asset trading platform that offers liquidity aggregation, order and risk management, MT4/5 Bridges, FIX API, hosting, and multiple trading GUI into one cloud-native SaaS offering in NY4/LD4/HK1.
iForex has announced the addition of around 70 new non-leveraged tools to FXnet, its main platform. The CFD and FX broker already boasted roughly 22 instruments on FXnet with regard to its non-leveraged portfolio on offer, but the latest additions are set to up the number to a massive 100 non-leveraged instruments.