Forex Weekly Look Back: Invast Global launches two new index CFDs, BT Group signs a deal with TP ICAP

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

FX technology provider Integral released its trading volumes for September 2020 with small but steady growth compared to August and July. The company registered average daily volumes (ADV) across Integral platforms of $41 billion in August 2020.

Prime Brokerage services provider Invast Global announced the launch of two new index CFDs – USD Index – USC/USD and Canadian Index – MXC/CAD. The new CFD products are available through the API Invast Global’s trading servers in NY4, LD4 and TY3 as part of our comprehensive Index & Commodity CFD offering. With these new additions, the total suite of index and commodity CFDs are now 26.

UK-based telecommunications and network provider BT Group announced signing a seven-year contract with market infrastructure provider TP ICAP. The deal will provide its 700-strong broker team in London with a secure, software-based platform and applications featuring remote working capabilities. The service will further enhance TP ICAP’s execution services across voice trading venues.

UK online trading leader IG Group announced the appointment of Wu Gang as a non-executive director of the company. Gang brings to the position significant experience with within the financial services sector primarily across Asia. He is currently a non-executive director of Ashurst LLP and a senior advisor at Rothschild & Co Hong Kong Limited. Gang served as a non-executive director and member of the Remuneration Committee of Laird Plc between January 2017 and June 2018.

Independent financial services technology company, itexsys has just announced that it has teamed up with Your Bourse to provide a fully branded MT4 White Label solution to the firm’s broker clients. To date, itexsys has exclusively offered MetaTrader White Labels with Gold-i’s technology. The partnership with Your Bourse extends itexsys’ offering, providing more choice to start-up and early stage brokers who are unable to commit to the upfront cost of a MetaTrader license.

TMX Group Limited (TMX Group) announced last week it has entered into an agreement to acquire AST Investor Services Inc. (Canada), and its subsidiary AST Trust Company (Canada). AST Trust Company is a provider of transfer agency, corporate trust and related services to Canadian public and private companies from a subsidiary of Armor Holdco, Inc. (Armor), a portfolio company of Pacific Equity Partners (PEP).

Multi-asset financial products provider Equiti Group has announced that it has partnered with technology provider HokoCloud to provide a social (copy) trading platform to enable traders to participate in social trading. Social trading allows registered traders to access and observe thousands of global trading strategies within the online trading community and copy top-performing traders.

Financial service provider Swissquote announced its integration into oneZero’s EcoSystem. During the unprecedented market volatility this year in the competitive Institutional FX landscape, Geneva-based a multi asset bank Swissquote, completed the integration of their FX and CFD liquidity into oneZero’s EcoSystem. oneZero’s EcoSystem covers more than 200 retail brokers, wholesale brokers, banks and liquidity providers that come together for liquidity distribution and access to flow, with direct market access to exchanges and clearing providers.

Forex Weekly Look Back

Deutsche Börse published its monthly volumes report for September 2020. The volumes for last month are up compared to August and July and on year-over-year basis. The company reported a 27.5% MoM rise in turnover with €149 billion in September (€116.9 billion for August 2020). The numbers are also up by 22.9% in comparison to September 2019 when it was €121.2 billion.

Tokyo Financial Exchange (TFX) released its trading volumes report for September 2020. TFX’s metrics had been going up and down the last few months, influenced by the unprecedented volatility in the markets. The Exchange reported trading volumes going down in July and August but showed an uptick in September with TFX Click kabu 365 up almost 22% MoM.

Hong Kong Exchanges and Clearing Limited (HKEX) announced that its Chief Executive Charles Li has informed the board of directors of his wish to retire early. The exchange had shared earlier in May Charles Li’s intention to not to seek reappointment at the end of his current contract in October 2021. Li will remain Chief Executive of HKEX and an ex-officio member of the board until 31 December 2020. From 1 January, Li will take up the role of senior adviser to the board for the next 6 months, providing guidance and ensuring a smooth transition.

The FCA regulated Trade UK Limited announced the launch of its Agency FX service. The new service will be offered from Global Markets, the institutional service brand established in late 2019. Subsidiary company of GMO Financial Holdings Inc., Trade UK Limited is an affiliated company of GMO CLICK Securities. Together, the entities make up part of the GMO Internet Group, headed by GMO Internet Inc. The group has more than 100 subsidiaries around the globe and a total group market capitalisation of $14.03BN.

London Stock Exchange Group (LSEG) announced the appointment of Brigitte Trafford as chief communications and marketing officer and a member of the group’s executive committee. At the newly created position, Trafford will report to CEO, David Schwimmer and she will the group’s communications, government relations, regulatory strategy and marketing functions.

Hong Kong Exchanges and Clearing Limited (HKEX) announced the launch of the latest futures contracts, part of its new index licensing agreement with finance company MSCI Inc., further expanding product range in Hong Kong’s international financial markets.

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