Firms must evidence the resilience they can deliver now
The year-2 operational resilience self-assessment asks in-scope brokers and payment firms to evidence the service they can deliver now during severe disruption.
The Industry Spread
Commercial Bank of Dubai completes a Digital Dirham transfer
Commercial Bank of Dubai completed a two-way wholesale Digital Dirham transfer with Bank of China on Jisr, with amount, corridor timing and retail use unstated.
ATX
6,546by December 17, 2026
Wrong above6,718
Spot at filing6,654.83
Austrian Traded Index to 6,546 on an ECB hold
ZAR/JPY
9.60by December 18, 2026
Wrong below9.20
Spot at filing9.4319
ZAR/JPY to 9.60: carry still prices a six-point gap
LME nickel
$15,800/tby February 12, 2027
Wrong above$16,400
Spot at filing$16,025/t
LME nickel cash to $15,800: the shed still pays carry
SET50
980by December 23, 2026
Wrong above1,069.41
Spot at filing1,024.99
SET50 to 980: the 1% policy rate is already priced
Levels as stated when filed. Not live prices. Analysis, not investment advice.
CFTC Letter 26-30 lets a trust company settle a clearinghouse
CFTC Letter 26-30 sets the staff test for using a trust company in daily clearing settlement, and Regulation 39.14 still defines a settlement bank as a bank.
How the Bank and the FCA split systemic sterling issuers
The Bank leads reserves and a £40 billion guardrail for systemic sterling issuers, while the FCA keeps conduct and solo-regulates every other UK issuer.
LSEG depositary clears the sandbox gate for the DIGIT gilt
Gate 2 lets LSEG B3 settle the DIGIT gilt as an investor depositary inside the UK sandbox. Settlement-finality designation and the cash leg remain open.
FirmWhat we foundFiled
Alpha FundedPayout counter versus the legal page14 NovFundedTickThe 40% rule that starts once funded13 NovFund Your EdgeHomepage tile versus the payout check10 NovVenus FundedThe 95 percent split and 14-day payout9 NovDayTradersPayout caps under its 100% split7 NovBullwaves PrimeRegulated claim, SVG operator5 NovNEOM FundedThe reward cap under the drawdown4 NovCoinhub FundedPayout cap and the step-two reset3 NovMyPropCapitalOn-chain receipts and the fee clash2 NovForaxis60-second rewards and a seven-day gap1 NovDoji FundingPayout caps on a simulated account31 OctPropXPStatic drawdown versus the split add-on30 Oct
About these reviews. The Industry Spread reviews prop firms independently. Firms do not pay for reviews and cannot see them before publication. The Industry Spread has no affiliate or referral relationship with the firms covered.
Reviews by Abdelaziz Fathi
Titan Funded review: the payout cap behind the HFT pitch
Titan Funded suits a forex or CFD trader who can clear an 8 percent one-step evaluation on MetaTrader and then withdraw inside a 6 percent balance cap, starting at a 60 percent share on the first payout. It does not suit a buyer who wants a high-frequency bot once funded, because the FAQ confines that permission to the evaluation and treats funded HFT as a breach. The binding caveat is that cap, beside a homepage figure of up to $2,000,000 in simulated capital and an unaudited total above $1.7 million.
Acima settles rent-to-own claims for $183.5 million
Acima settles rent-to-own claims for $183.5 million with 43 states.
VT Markets takes best gold trading platform at FinanceFeeds Awards
VT Markets has won Best Gold Trading Platform at the FinanceFeeds Awards 2026, capping a January in which it reported $1.5 trillion in gold turnover.
Axcera Takes Three FinanceFeeds Awards for Prop Tech
Axcera has won three FinanceFeeds Awards 2026 across prop trading technology, infrastructure and multi-asset solutions.
The Broker Back Office Becomes One Data Layer
The constraint on most brokerages is not strategy but infrastructure that cannot pass data between functions.
Karthik Subramanian
Karthik Subramanian is a founder, writer, and technology consultant with nine years in the crypto ecosystem.
Abdelaziz Fathi
Abdelaziz Fathi covers the intersection of forex/CFD brokerage, regulation, liquidity, fintech, and digital assets.
Rick Steves
Rick Steves has seen business and economics through many lenses.
Also filed
From the archive
Filed around 15 November in 2025, 2023, 2022 and 20212025
2023
Business Directory
5 companiesThe vendors, liquidity providers and service firms behind the brokerage industry, with licences checked against regulator registers.
The full directory
Finalto
Institutional liquidity, trading technology and risk management for brokers and funds
MetaQuotes
MetaTrader 4 and MetaTrader 5 platform software for brokers, banks, exchanges and hedge funds
Praxis Tech
Payment orchestration platform and Cashier checkout for gaming, trading, crypto and e-commerce merchants
PrimeXM
XCore liquidity aggregation software and dedicated hosting for FX and CFD brokers