The foreign exchange and cryptocurrency markets are always active, and this past week was no exception. Stay ahead with a selection of essential stories and updates that matter most to market participants.
Our latest FX roundup dives deep into this dynamic market, offering expert analysis, insightful commentary, and an overview of the key trends.
IG Group revenue drops 9% in the first semester
The company’s total revenue for the first half of the fiscal year 2024 (H1 FY24) stood at £472.6 million, marking a 9% decrease from £519.1 million in H1 FY23. Net trading revenue saw a more significant drop of 19%, coming in at £402.4 million, compared to £494.9 million in the previous year. Read More
thinkorswim offers 30-day trial for futures and forex trading
Schwab has announced the launch of its thinkorswim Guest Pass program, an initiative offering a 30-day trial of the thinkorswim trading platform suite, accessible without a Schwab account. Read More
ATFX renames its ASIC-regulated entity ahead of relocating to a larger office in Sydney
ATFX has announced the completion of its name change for Rakuten Securities Australia Pty Ltd, which will henceforth be known as AT Global Markets (Australia) Pty Ltd. The firm will continue operating under the brand names “ATFX” for retail clients and “ATFX Connect” for its institutional clientele in the Asia-Pacific region. Read More
Integral secures $30M from Vistara Growth for expansion and product development
Integral Development Corp, a technology provider to the financial markets’ buy-side, has secured $30 million in growth financing from Vistara Growth. The financing injection will support Integral’s next phase of expansion as it continues to scale its business operations. Read More
VanEck acquires stake in CCData following SEC’s approval of Bitcoin ETFs
CCData has successfully completed a strategic fundraising round, led by VanEck, a prominent New York City-based asset manager, and MarketVector Indexes, a renowned global index provider. Read More
Swissquote taps Sharegain to offer securities lending to private clients
This new service allows users to lend their investment assets, like stocks and certain ETFs, to well-known financial institutions. In return, they get a monthly income directly through their bank account or app. Read More
After AC Milan, CFI Financial sponsors Paris Saint-Germain until 2026
Paris Saint-Germain is taking a move deeper into the online trading space with a new sponsorship deal with MENA-focused brokerage firm CFI Financial Group. From the locker room to the world-famous stadiums, CFI will have meaningful visibility in front of Paris Saint-Germain’s global fan base and social media followers. Read More
MetaTrader 5 integrates payments, adds analytics tools
Popular trading platform MetaTrader 5 has introduced integrated payment options and a new analytics section to improve its user experience. MetaQuotes, the developer behind the widely-used retail trading platforms, also indicated that a major interface update is on the horizon. Read More
Pakistan finally enters world of (nearly) unrestricted FX trading
The State Bank of Pakistan (SBP) has unveiled a groundbreaking foreign exchange trading platform for interbank transactions, marking a significant advancement in the nation’s financial sector. This platform, named FX Matching, is a key component of the SBP’s Vision 2028 initiative, aimed at enhancing the digital financial ecosystem in Pakistan. Read More
Also join us as we break down the week’s top stories in crypto that are relevant to your interests.
CZ offers his $4.5 billion Binance stake to leave US
A federal judge turned down a request from Binance founder Changpeng “CZ” Zhao to travel to the United Arab Emirates, despite Zhao offering his $4.5 billion Binance equity as a security guarantee. Read More
OneCoin lawyer sentenced to 10 Years for laundering $400 million
Mark Scott, a 55-year-old former partner at U.S. law firm Locke Lord, has been sentenced to a decade in prison for his involvement in OneCoin cryptocurrency scam. Read More
Hong Kong set for influx of spot Bitcoin ETFs in 2024
The landscape for spot Bitcoin ETFs in Hong Kong is becoming increasingly competitive, with several firms actively exploring their launch. Read More
Ripple fights SEC’s sneaky post-complaint tactics in XRP lawsuit
In the latest twist in the high-stakes legal showdown between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), Ripple has come out swinging against what it deems as the SEC’s overzealous and unjustified demands. Read More
Crypto lender Nexo files $3 billion claim against Bulgaria
Crypto lender Nexo AG has taken a bold legal step against Bulgaria, filing an arbitration claim worth over $3 billion. This action follows the conclusion of a Bulgarian investigation into Nexo’s activities, which involved a raid on its office and the charging of four individuals. Read More
EquiLend hacked days after announcing being acquired by WCAS
The acquisition is set to close in Q2 2024, subject to regulatory approvals. In addition to the acquisition, WCAS has committed a further $200 million investment to support organic growth initiatives and acquisitions by EquiLend. Read More
OKX shuts down mining Pool as hashrate drops to 20 PH/s
OKX, the world’s sixth-largest cryptocurrency exchange in terms of trading volume, today announced the phase-out of its mining pool services. Read More
