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.
The Industry Spread
OpenAssets joins Canton as a DA Registry implementation partner
OpenAssets joins Canton as a DA Registry implementation partner, pairing allowlists and private settlement with an SEC-registered transfer-agent stack.
Cocoa
$5,200by December 14, 2026, the last trading day of the December London cocoa contract on ICE Futures Europe
Wrong above$5,950
Spot at filing$5,562.24
Cocoa certified stocks still decide the exchange margin
EUR/CNH
7.65by February 4, 2027
Wrong below7.40
Spot at filing7.4984
EUR/CNH to 7.65: the reserve-ratio brake
Heating oil
$4.70by January 30, 2027
Wrong below$4.20
Spot at filing$4.47
Heating oil to $4.70: the distillate-stock case
NOK/JPY
17.40by December 23, 2026
Wrong below16.70
Spot at filing17.149
NOK/JPY to 17.40: Norges Bank's hold
Levels as stated when filed. Not live prices. Analysis, not investment advice.
Why ASIC's REP 842 still shows an audit judgement gap
REP 842 records 42 ASIC findings where audit judgement was thin on revenue and impairment. What the surveillance changes for directors and the largest firms.
FS26/3 holds the line on high-risk retail investment access
FS26/3 keeps UK high-risk promotion gates in place and puts mainstream risk warnings, appropriateness tests and model portfolios on a later timetable.
CFTC sues Utah to defend exclusive event-contract jurisdiction
The CFTC has sued Utah to keep state gambling statutes off designated contract markets. The filing redraws the line for brokers, FCMs and event-contract venues.
FirmWhat we foundFiled
NEOM 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 OctTrue Forex FundsPermanently closed for insolvency29 OctHash HedgeZero risk against the customer contract28 OctNairaPropPayout rules clash across the site27 OctPropMarket70/30 on the page, zero in the catalogue26 OctClickfundedThe reward buffer and the split25 OctGoat Funded FuturesIntraday floor once funded24 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
Bullwaves Prime review: regulated claim, SVG operator
Bullwaves Prime suits MetaTrader 5 traders who can live with a 15-day payout cycle and a 6% cap, and who treat the trading-rules page as the contract. It does not suit anyone who takes the regulated title or the 100% split line. The footer names Moonance LLC in Saint Vincent and the Grenadines as operator, the rules state an 80% split, and the legal page calls the accounts simulated. The caveat is three splits: 100% on the homepage, 90% on the challenge page, and 80% in the rules.
NPCI Tech Solutions takes AI and blockchain off the UPI core
NPCI Tech Solutions takes AI and blockchain off the UPI core. Vishal Kanvaty will lead the new subsidiary after board and Reserve Bank of India approval.
Uranium Digital sells ownership records of physical metal
Uranium Digital sells one-pound ownership records of physical yellowcake after a $16.5 million Series A, with delivery still gated by a converter account.
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.
Rick Steves
Rick Steves has seen business and economics through many lenses.
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.
Also filed
From the archive
Filed around 6 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