Looking back at the most intriguing and popular industry news from the past week between 29th March and 2nd April on LeapRate.
FCA-regulated prime of prime broker, Equiti Capital, part of the Equiti Group, has deployed FX aggregator Lucera LumeFX’s technology. Lucera’s services will provide Equiti Capital with access to new markets without having to own or operate any infrastructure, clearing the way for Equiti Capital to focus on its core expertise. LumeFX can be released in New York (NY4), London (LD4), Tokyo (TY3), France (FR3) and Singapore (SG1) offices to provide aggregation technology and connectivity.
Eurex revealed it is expanding its equity index segment with 12 new factor futures as the demand for factor-based instruments increases. The new products will be released on 26 April. Factor investment has recently gained popularity among index segments. The process involves targeting specific drivers of return which differ from traditional beta.
Financial software development company Devexperts has delivered a new web trading platform and a mobile trading application for Turkish investment and asset-management company Osmanlı Yatırım. Osmanlı’s goal is to provide its clients with the tools they need to trade in any asset class including options, classical OTC offerings for FX and CFD trading, and equities. The company has added Devexperts’ platform to its range of trading software it offers to its Turkish investors.
Retail FX and CFD broker FXCM Group, LLC, has just announced expanding its FX and CFD trading offering with the addition of social and copy trading capabilities for its customers. Social and copy trading have developed as a popular approach to investing in the retail trading market. With this addition to FXCM’s offering, its customers can copy a high-performing Trader’s signals and strategies, eliminating the need to speculate themselves and follow more experienced market participants.
OANDA Global Corporation, an online multi-asset trading services, currency data and analytics provider, has announced completing the acquisition of Polish broker Dom Maklerski TMS Brokers SA. The Polish Financial Supervision Authority has already approved the deal. TMS provides its clients with access to global financial markets, with opportunities to invest in thousands of products, such as currencies, indices, commodities, equities, cryptocurrencies and exchange-traded funds from the world’s major exchanges. TMS clients can also benefit from access to experienced advisors, education and trading tools.
Several years ago, ATFX Connect teamed up with oneZero to enhance its CFDs and FX liquidity pricing, using oneZero’s EcoSystem. Since then, ATFX Connect reached a broader client base, seeing a steady increase in trading volumes over the past year. The oneZero hub has helped ATFX Connect to integrate with third-party platforms smoothly. Supporting institutional clients, the oneZero Hub works to provide access to precious metals, CFDs and spot FX.
Front-office solutions Broadway Technology announced today the appointment of Michael Chin as CEO and to the board of directors. The new appointment is part of Broadway’s expansion and strategy to capitalize on the growing market opportunities. The company’s expansion will also see co-founder and board of directors’ member Tyler Moeller will also become Chief Innovation Officer.
Head Corporate & Institutional Clients International at UBS Andy Kollegger has been nominated to the Board of Directors of SIX. Kollegger ‘s predecessor Sabine Keller-Busse has decided to step down as a member of the board after nine years. The change is set to take place at the end of April. The announcement also noted that Andy Kollegger was nominated as her successor and as UBS’s representative on the Board. The BoD is set to propose him for election at the Annual General Meeting of the company, set for the end of April.
Fintech firm Broadridge Financial Solutions, Inc. today announced the acquisition of Itiviti, a provider of trading and connectivity technology to the capital markets industry, from Nordic Capital. Broadridge and Itiviti have signed a definitive agreement for all-cash transaction. The deal is valued at €2.143 billion (approximately $2.5 billion). The acquisition is expected to close in the fourth quarter of the fiscal year 2021.
Macrobond Financial, provider of economic and financial data and analytics, today announced the appointment of Ian Hissey Regional Managing Director for Asia Pacific. Hissey will be based in Hong Kong and will build on the company’s success in a region. Macrobond has seen significant demand for data and analytics and continues the expansion of its business into Japan and South Korea. Hissey brings vast knowledge from his previous experience in managing teams focused on portfolio analytics and quantitative analysis in Australia and across APAC.
The Australian Securities and Investments Commission (ASIC) has announced that its intervention order placing conditions on the distribution of CFDs to retail clients comes into effect today. The order limits the leverage brokers offer to a range from 30:1 to 2:1. The order also reduces the CFD leverage which is available for retail clients. It targets sales practices that increase retail clients’ losses when trading CFDs such as incentives offered by brokers to become a client or trade.