Forex Weekly Look Back: IG completes $1billion deal with tastytrade, Robinhood files for IPO

Looking back at the most intriguing and popular industry news from the past week between 28th June and 2nd July on LeapRate.

Days after Robinhood’s record breaking FINRA fine, the company revealed it has filed for its much-anticipated initial public offering with the Securities and Exchange Commission. The company field its registration statement on Form S-1 relating to the proposed IPO of its Class A common stock. The price range for the proposed offering have not yet been determined or the date of its debut. Robinhood stated that it will list its Class A common shares on the Nasdaq Stock Market, under the symbol “HOOD.”

Equiti announced that Brian Myers will take on the role of a CEO of Equiti Brokerage (Seychelles), the Group’s newest licenced entity, after three years as CEO of the UK arm of the business. Myers will also become CEO for Africa and will lead the implementation of the Group’s strategic business plan for the region. Leading Equiti Capital (UK) will be Nigel Holmes as interim CEO. Holmes has been a director and board member of UK entity since March 2018.

FXSpotStream, the provider of a multibank FX aggregation service for spot FX trading, has released its monthly metrics for June 2021. The company saw $1.08 trillion in total volumes in June, registering a 8.65% rise compared to May when it reached $994 billion. FXSpotStream crossed $1 trillion mark for the 4th time in the company’s history. FXSpotStream’s volumes surpassed $1 trillion two times in 2021 – in April and in March.

ICAP, part of TP ICAP Group today revealed the launch of its newest electronic offering, SpotMatch. The new Spot FX matching platform has been developed in response to client demand for an alternative and cost-effective eMatching solution. The new SpotMatch service offers access to a deep pool of liquidity across the interbank marketplace.

Cboe Global Markets, Inc. completed its acquisition of Chi-X Asia Pacific Holdings, Ltd, an alternative market operator and provider of market solutions. With this move, Cboe benefits from an entrance into two of the world’s largest securities markets – Japan and Australia which allows the company to establish a significant presence in the Asia Pacific region for the first time.

Sucden Financial, announced its partnership with Refinitiv which will have the global multi-asset execution, clearing and liquidity provider distribute market insights and in-depth investment research via their Eikon platform. The dedicated Sucden Financial research team delivers expert complimentary commentary and analysis, which covers a wide range of markets including base, ferrous and precious metals, soft commodities and foreign exchange.

eToro revealed that it has expanded its collaboration with AS Monaco by becoming the club’s main partner. The trading company announced that it has signed a multi-year deal which will allow eToro to be featured on the “front” of the Red and White shirt for Uber Eats Ligue 1 matches. eToro first partnered with the French in 2020 and since then the social investment platform has strengthen its collaboration with AS Monaco as part of its strategy to accelerate global engagement and brand awareness.

Chicago-based futures brokerage and clearing firm R.J. O’Brien & Associates revealed the promotion of Daniel Staniford as President, effective immediately. The announcement shared with LeapRate noted that the position of President has not existed at the company since 2009. Staniford will also remain in his current position as R.J. O’Brien Chief Sales Officer and report to the Chairman and CEO Gerald Corcoran.

DIGITEC, the specialist provider of FX Swaps technology and data, revealed it is opening a new London office, managed by Stephan von Massenbach. The Electronic trading specialist joins the company as Chief Revenue Officer. The new office is part of DIGITEC’s global growth strategy. It comes as a response to the increasing number of enquiries from banks and trading desks located in London. The office brings the DIGITEC operations closer to its London-based clients and offers access to many FX trading hubs.

Nasdaq announced its ESG Data Hub launch, which is set to connect its investors with Environmental, Social and Governance data sets from leading expert providers. This latest effort in expanding Nasdaq’s ever-growing suite of products aims to support its investors when it comes to making sustainable choices for their investments, with ESG data sets covering a vast array of areas from climate risk and carbon emission through to gender diversity. In addition, these data sets will provide comprehensive intelligence regarding companies’ ESG profiles.

IG Group Holdings plc revealed it has finalized $1 billion partnership with fast-growing online brokerage and investor education platform tastytrade, Inc. The online trading company expects the transaction to significantly increases the scale and relevance of its existing US business. IG will now be in a good position in the high-growth retail options trading market through tastytrade’s online brokerage and trading education platform. tastytrade’s platform is used by more than 105,000 self-directed investors with active accounts.

Samtrade FX Ltd., the global trading broker announced the appointment of Richard Christopher Dyason as the Group’s Chief Strategy Officer (CSO). A veteran in the industry, Dyason brings more than 30 years of experience in management roles in the financial services sector. Before joining Samtrade, he served as the General Manager of the Securities Investors Association of Singapore, the Vice President of the Private Investors division at the Singapore Exchange, and the Vice President and Head of the Strategic Marketing Division at the United Overseas Bank, Singapore.

Forex Weekly Look Back

BlackBull Markets has revealed a partnership with affiliate marketing network Commission Junction. The New Zealand-based fintech firm pointed out that the Commission Junction was selected as a referral partner due to its broad network of collaborators and reputation for complementing the organic growth that companies experience. BlackBull Markets will start drawing on Commission Junction’s solutions and publishers, aiming to increase awareness of the benefits of trading on their platform with traders around the globe.

Luzerner Kantonalbank AG is set to be Swissquote’s exclusive distribution partner concerning mortgages. Since May of this year, the aforementioned banks have been working in partnership, focusing on the distribution of Actively Managed Certificates. Between now and January, the banks will continue to explore even more options for strategic collaboration.

Market infrastructure provider and international exchange organisation, Deutsche Börse Group, announced that it has obtained a majority stake in the financial group, Crypto Finance AG. By acquiring the firm – which is currently under consolidated supervision from FINMA, Deutsche Börse will be able to provide its customers with a direct point of entry for investments, taking yet another step in extending its offering of digital assets.

Cryptocurrency exchange Coinbase, announced that it has secured licensing from the German Federal Financial Supervisory Authority (BaFin) allowing them to now provide trading and crypto custody services throughout Germany. In the announcement, the US-based firm confirmed that it now plans to function by the name of Coinbase Germany GmbH, depending on the licensing regime introduced just last year.

Over the weekend, the Financial Conduct Authority announced via its own website that it has banned Binance from undertaking any regulated activity in the UK, confirming that the ban also applies to other entities that fall under the wider group, Binance Group. In addition, the announcement warned that the Group appears to be attempting to offer customers based in the UK an array of services and products via its website,

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