Forex Weekly Look Back: IS Prime turnover rises 30% in 2020, Benjamin Boulter appointed global head of partnerships with BlackBull Markets

Looking back at the most intriguing and popular industry news from the past week between 23th and 27th November on LeapRate.

FCA regulated Prime of Prime broker IS Prime has reported continued growth for a sixth consecutive year with 30% increase in turnover. The broker registered rise from £27.6m for 2019 to £36m in 2020. The operating profit almost tripled from £5.9m to £17.6m, largely due to client growth combined with increased efficiencies from its scalable systems. Net assets for the year 2020 remained at £10.7m. Founded in 2014, IS Prime is part of the ISAM Capital Markets Group, which also includes IS Prime Hong Kong and IS Risk Analytics. ISAM Capital Markets’ figures have not been disclosed.

LeapRate has learned that BlackBull Markets has appointed Benjamin Boulter as Global Head of Partnerships. Benjamin has over a decade of experience in the financial services and digital marketing sectors. Prior to his new position, he spent almost four years in Pepperstone. He started as Digital Marketing Executive in 2015 and in 2017 he became Marketing Manager – Partnerships. At his new role as Global Head of Partnerships with BlackBull Markets, Benjamin will work in the Head Office of the company in Auckland, New Zealand.

Multi-asset prime brokerage and liquidity provider CFH today announced their partnership with aggregation and bridging technology provider Finstek. This collaboration and integration creates a cost-efficient solution for MT4 and MT5 brokers to receive liquidity provided by CFH. The Finstek Aggregator bridges the gap between platforms, institutional brokerages and liquidity providers like CFH, it enables brokers to control all aspects of their trading environment, with high-customisation capabilities, low latency and scalability. Finstek efficiently connects multiple liquidity streams with trading platforms to deliver a high-performing ecosystem.

Technology provider for multi-asset brokerages Brokeree Solutions has announced a major update to their flagship product — Social Trading for MetaTrader 4 and 5. The updated solution sets the scene for a refreshed user-interface and multi-server support, enabling brokers to set up an advanced copy trading system for their clients. Social Trading upholds multi-server connectivity, allowing brokers to create intra-brokerage signal-sharing systems on several MetaTrader platforms. Once the servers are connected, traders from different servers can log into a single user portal to manage subscription settings and view their results.

Global trading broker, today announced that it has signed a multi-season sponsorship agreement with football club Juventus, becoming the its Official Online Trading Partner. The sponsorship agreement with Juventus builds on’s track record in the international markets. Since its establishment, has continuously expanded its global presence with its trading platforms grounded in encouraging educated trading through the provision of online interactive tools.

Pico, provider of technology services for the global financial markets community, has announced that Brian Pomraning joined the company as Chief Revenue Officer (CRO).  In his new role at Pico, Pomraning will be responsible for developing, resourcing and executing on Pico’s sales strategy focused on delivering a superior client experience.

National Stock Exchange of Australia (NSXA) has announced the completion of its Trade Acceptance Service (TAS) integration to the ASX Clear system. TAS allows orders to be entered into NSXA’s trading system through IRESS. As a result, NSXA securities trading is now being fully automated from order routing through to clearing and settlement. An initial group of 10 brokers will commence automated trade registration and clearing including Bell Potter Securities Limited, Burrell Stockbroking Pty Ltd, Canaccord Genuity Financial Limited, E. L. & C. Baillieu Limited, FinClear Execution Ltd, Morgans Financial Limited, Morrison Securities Pty Limited,  Openmarkets Australia Limited, State One Stockbroking and Taylor Collison Limited.

Financial service provider Swissquote announced it has selected Karim Yakhloufi as the head of its German desk. The online bank issued a statement on Monday reporting the new appointment. According the the statement, Yakhloufi will work on the development of the forex- and cross-asset-trading business with private clients, wealth managers and family offices.

Hong Kong Exchanges and Clearing Limited (HKEX) has introduced HKEX Synapse, a new settlement acceleration platform for its landmark Stock Connect programme. HKEX Synapse uses DAML smart contracts and will streamline the post-trade workflows of Northbound Stock Connect, maximising efficiencies for market participants in a transparent, secure and reliable way. Asset managers, brokers, global custodians, local custodians and clearing participants will be able to take advantage from the improved connectivity and enhanced capacity to handle the growing volume of trades flowing through Stock Connect.

Multi-asset Forex and CFD investment firm Accuindex announced the appointment of Husein Al-Koofee as Executive Director of the firm’s Cyprus operations. Al-Koofee has eighteen years of extensive experience within the financial markets sector, specifically in FX and CFD trading, business operations and management. Al-Koofee will oversee the offices operations. He will be resposible for the day-to-day corporate governance of the firm, with a special focus on managing staff, compliance and coordinating with the board of directors.

Global trading provider CFI Financial Group announced the addition of new CFDs on Stocks and ETFs alongside the wide scope of forex, metals, energies, indices & other products currently tradable to bring the total number of products available to over 1500 products. The additional products are step in the direction of making more opportunities available across the financial markets by offering a broader and more diverse access. In addition, this expansion aligns with CFI’s aim to offer innovative and competitive trading services.

BCS Global Markets, the investment services division of Russian independent broker, today announced the appointment of Grigoriy Kozin as the new Head of Business Development for its Prime Services division. At his new position, Kozin will be based in BCS’s London office, reporting to UK CEO, Tim Bevan. As Head of Business Development for BCS Prime Services, Kozin will be spearheading the development of the Prime Brokerage and Securities Financing business lines. Kozin will also strengthen the firm’s multiple revenue streams and driving innovation within BCS’s existing international product suite, as well as developing and showcasing new products and services.

FX technology provider Integral and Swiss online bank Swissquote Bank Ltd today announced that their long-standing partnership has been extended with a multi-year subscription deal. The new agreement allows Swissquote’s global FX business to continue leveraging the full depth of Integral’s technology offering, stretching over the complete eFX workflow, through a fixed-cost monthly subscription. The deal will also enable Swissquote to expand the scope of services offered to customers through the Integral platform to include their swaps and CFD products.

Forex Weekly Look Back

Boerse Stuttgart announced today that Alexander Höptner, Chairman of the management board of Boerse Stuttgart GmbH and EUWAX AG, is leaving the Group at the end of the year at his own request to pursue new professional challenges. The Boerse Stuttgart group has not yet made a decision about his succession in the two companies. Alexander Höptner became a member of the management board of Boerse Stuttgart in January 2017. The next year, he was appointed Speaker of the management board of Boerse Stuttgart GmbH and EUWAX AG and in 2019 he became chairman of both.

Bitcoin, the world’s largest cryptoasset, reportedly hit a new all-time high of $19,510 on Thursday, beating the previous high of $19,458 set in December 2017, according to the Financial Times (FT). The cryptoasset has risen 75% in the past three months. From lows in March it has returned a staggering 400%. The record high was disputed by some data providers. Leading crypto outlet CoinDesk, unlike the FT, is unwilling to call the high. This is because of the cryptoasset’s decentralised nature, as prices and valuations fluctuate depending on the data and analysis used. This leads to price discrepancies between outlets and a variation on deciding where the current price is precisely.

Moscow Exchange (MOEX) has launched trading in American Depositary Shares (ADS) of Ozon Holdings Plc. following the company’s successful IPO. The securities are included in MOEX’s Level 1 quotation list and trade under the ticker “OZON”. Trading and settlement are done in RUB. Ozon’s ADSs are also listed on NASDAQ.

The Financial Commission has announced the appointment of Can Pamir, founder and CEO of Pamir Consulting, to its Dispute Resolution Committee (DRC). Pamir is the latest industry expert to join the Financial Commission’s DRC. The committee consists of a diverse panel of industry professionals, who follow a non-bias protocol to process and resolve complaints from our members’ clients.

This Saturday cybercrime blog Krebs on Security blog reported that during the past week cyber-attacks were launched against multiple cryptocurrency services hosted by popular domain register GoDaddy. Krebs Securities stated that the attacks were executed by targeting GoDaddy staff and redirecting email and web traffic intended for several cryptocurrency trading platforms. According to the security blog, the attacks started around 13 November with cryptocurrency trading platform Liquid published a blog post by its CEO Mike Kayamori explaining the security incident.

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