Forex Weekly Look Back: TradeMax rebrands to TMGM, Forex Analytix and Forest Park FX launch portal

Looking back at the most intriguing and popular industry news from the past week between 31st of August and 4th September on LeapRate.

CFD trading provider TradeMax announced a major rebrand as part of its global expansion strategy and its new name: TMGM. Since 2015, TradeMax has expanded beyond its Syndey base and into the Chinese market. The company has been attracting new global clients and it in a response to the growing international demand it has decided to go globally. The new name TMGM or ‘TradeMax Global Markets’ is representative of that future expansion.

Forex Analytix and Forest Park FX have partnered in the launch of a content portal The portal aims to provide market related content and educate investors through sharing trade ideas and market analysis from professional traders around the world. The two essential elements of the idea are quarterly online summits and daily market analysis from a host of carefully selected contributors across various asset classes such as Forex, Stocks, Cryptocurrencies and Futures.

US share trading is now available directly in MetaTrader 5 through a server to server connection. For brokers using MetaTrader 5 server, direct integration to multiple brokerage APIs is not required anymore. Brokers ca now order the MetaTrader 5 gateway for integration with dealers like DriveWealth and perform trades on US exchanges.

Seven years after the fintech firm Yieldstreet was established, is now facing a lawsuit filed by investors who lost over $100 million in a series of defaults of high-risk and misleadingly marketed alternative investment products. The company was created to take advantage of the US Securities and Exchange Commission (SEC) rules easing up on the definition of “accredited investors”.

FX technology provider Integral announced the launch of the latest version of its trading platform. FX Inside 7.0 is web-based trading solution for banks and institutional brokers who want to serve corporate and institutional customers in a fully branded single dealer environment. It is available through HTML5 browser and mobile device.

Forex & CFD trading platform Accuindex offers brokers a wide range of products including stocks and commodities, in addition to currencies, with high and flexible leverage facilities. MetaTrader 5 offers advanced trading functions, as well as makes available a number of tools which Accuindex can now use to easily carry out fundamental and technical analysis and trade in a better manner.

Forex broker ATFX has just announced that it has added Michael O’Sullivan to its team in the key position of UK Project Manager. O’Sullivan joins ATFX from CMC Markets and arrives during the company’s fast-growth phase highlighted by higher revenue earnings for certain product categories in the first quarter of 2020.

Gregory Papagregoriou is Chief Risk Officer at BDSwiss Group and has over 13 years’ experience in the audit field of the oil and gas and capital markets industry. After getting his Bachelor in Accounting and Finance from the Nottingham Trent University, Gregory gained experience in the industry as an auditor, financial controller and risk manager.

Forex Weekly Look Back

Online FX and CFD trading and cryptocurrencies provider FXCM announced the launch of the SMS Trading Alerts service to help users spot potential trading opportunities. The SMS Trading Alerts cover shares, forex, gold and many other tradable instruments at FXCM. Users can choose the instruments that they want to receive signals for and they will receive them daily to their mobile.

Global technology provider Edgewater Markets announced two senior hires in its London office – Leo Furze-Waddock as Senior Full Stack Developer and Pietro Carrieri as Senior C++ Developer. The company utilizes technological advancements and a flexible architectural design. It has also adapted the proprietary technology to optimize trading and expand distribution. The new hires add to a growing development team.

Liquidity and white label trading solutions provider CMC Markets Institutional announced an integration of its multi-asset Direct API with Centroid Solutions. Centroid provides brokers looking to optimise their performance with a range of real time analytical tools and sophisticated risk management functionality.

Credit Suisse announced the appointment of Martin Mende as Head of Strategy & Initiatives. Mende will take over the position from 1 October and become a member of the Management Committee of the Swiss Universal Bank division. He will take a seat on the Executive Board of Credit Suisse (Switzerland) Ltd.

Deutsche Börse announced the trading volumes for Eurex and EEX for August 2020. The company saw drops on month-over-month basis across almost all areas. Eurex reported a 24.7% drop of European equity index derivatives contracts turnover with 45.4 million for August 2020, compared to 60.3 million in July. The volumes of European equity index derivatives were 12.2 million. Overall, August volumes at Eurex stood at 94 million, 16.7% down MoM compared to 112.8 million for the previous month.

London-based software provider for the financial industry Devexperts has integrated the DXtrade SaaS trading platform with the Economic Calendar by information and resources provider for forex traders, FXStreet. DXtrade is a trading platform for experienced and amateur FX/CFD brokers worldwide. The economic calendar in the platform is provided by FXStreet and allows traders to track events of their choice.

IHS Markit Securities Finance and Tokyo Stock Exchange, Inc. are combining market data into a comprehensive short selling and stock loan dataset. The combined dataset offers five years of historical data of 3,700 Japanese yen-denominated equities, such as inventory and lendable assets which amount to 100 trillion yen and on-loan assets exceeding 12 trillion yen, with daily breakdowns of trading volume and trading value data for all TSE-listed stocks.

Hong Kong Exchanges and Clearing Limited (HKEX) announced appointing Richard Wise as Group Chief Risk Officer. Wise will assume his new position in November. He will report to Charles Li, HKEX Chief Executive, and join the company’s Management Committee. At his new as Chief Risk Officer, Wise will oversee the Group’s risk management functions, including Group Credit and Quantitative Analysis, Group Cyber and Technology Risk Management and Enterprise Risk Management.

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