# The Industry Spread

> News and information for the global trading industry

The Industry Spread (https://theindustryspread.com/) reports on the business of trading: retail brokers, proprietary-trading firms, liquidity and payments vendors, regulators and enforcement, digital-asset infrastructure, and market calls with a stated spot, target and invalidation level. Nothing on the site is investment advice.

## Desks

- [Industry News](https://theindustryspread.com/industry-news/): Brokers, prop firms, liquidity, payments: what changed in the trading industry today. ([RSS](https://theindustryspread.com/industry-news/feed/))
- [Fintech](https://theindustryspread.com/fintech/): Payments, KYC, trading technology and the vendors that sell it to brokers. ([RSS](https://theindustryspread.com/fintech/feed/))
- [Digital Assets](https://theindustryspread.com/digital-assets/): Crypto exchanges, tokenisation, custody and stablecoins from the industry side. ([RSS](https://theindustryspread.com/digital-assets/feed/))
- [Regulation](https://theindustryspread.com/regulation/): Enforcement, licensing and rule-making from the SEC, FCA, CySEC, ASIC and the rest. ([RSS](https://theindustryspread.com/regulation/feed/))
- [Market News](https://theindustryspread.com/market-news/): Market calls with a spot, a target and an invalidation level. ([RSS](https://theindustryspread.com/market-news/feed/))
- [FOREX](https://theindustryspread.com/forex/): Currency pairs, central banks and the brokers that price them. ([RSS](https://theindustryspread.com/forex/feed/))
- [Prop Firms](https://theindustryspread.com/prop-firms/): Reviews and verdicts on funded-trader programmes: rules, payouts, the fine print. ([RSS](https://theindustryspread.com/prop-firms/feed/))
- [Industry Insights](https://theindustryspread.com/industry-insights/): Analysis and opinion from inside the industry. ([RSS](https://theindustryspread.com/industry-insights/feed/))
- [People News](https://theindustryspread.com/people-news/): Hires, departures, boards and interviews. ([RSS](https://theindustryspread.com/people-news/feed/))
- [Feature Articles](https://theindustryspread.com/feature-articles/): Longer reads on technology, regulation and company announcements. ([RSS](https://theindustryspread.com/feature-articles/feed/))

## Latest by desk

### Industry News

- [VT Markets takes best gold trading platform at FinanceFeeds Awards](https://theindustryspread.com/vt-markets-best-gold-trading-platform-financefeeds-awards-2026/)
- [Axcera Takes Three FinanceFeeds Awards for Prop Tech](https://theindustryspread.com/axcera-three-financefeeds-awards-prop-trading-technology/)
- [SPAYZ.io Named Payment Service Provider of the Year at the FinanceFeeds Awards 2026](https://theindustryspread.com/spayz-io-payment-service-provider-of-the-year-2026/)
- [The Broker Back Office Becomes One Data Layer](https://theindustryspread.com/broker-back-office-connected-data-layer-yoonit/)
- [Broker technology integration: where the costs hide](https://theindustryspread.com/broker-technology-integration-where-the-costs-hide/)
- [IBIT flips to $209M inflow as bitcoin ETF rebound gathers pace](https://theindustryspread.com/ibit-209m-inflow-bitcoin-etf-rebound/)
- [XTB Institutional Debuts New Brand at iFX EXPO 2026](https://theindustryspread.com/xtb-institutional-debuts-new-brand-at-ifx-expo-2026/)
- [Why Brokerage Operations Are Getting More Complex in 2026](https://theindustryspread.com/why-brokerage-operations-are-getting-more-complex-in-2026/)
- [XTB Institutional Debuts at iFX EXPO as X Open Hub Evolves](https://theindustryspread.com/xtb-institutional-debuts-at-ifx-expo-as-x-open-hub-evolves/)
- [Exness Takes Elite Sponsor Role at iFX EXPO Dubai 2026](https://theindustryspread.com/exness-takes-elite-sponsor-role-at-ifx-expo-dubai-2026/)
- [X Open Hub’s Hedge Account Interest Plan Puts Governance and Efficiency in Focus](https://theindustryspread.com/x-open-hubs-hedge-account-interest-plan-puts-governance-and-efficiency-in-focus/)
- [fmls:25 Returns to London This November](https://theindustryspread.com/fmls25-returns-to-london-this-november/)

### Fintech

- [Jack Henry plans tokenised deposits on Google Cloud](https://theindustryspread.com/jack-henry-plans-tokenised-deposits-on-google-cloud/)
- [Skyfire widens Forter fraud checks for AI-agent checkout](https://theindustryspread.com/skyfire-widens-forter-fraud-checks-for-ai-agent-checkout/)
- [Basware completes Trustpair deal, terms not disclosed](https://theindustryspread.com/basware-completes-trustpair-acquisition/)
- [Personio acquires Circula and keeps spend standalone](https://theindustryspread.com/personio-acquires-circula-keeps-spend-standalone/)
- [Behavox acquires Apiax to embed cross-border rules](https://theindustryspread.com/behavox-acquires-apiax-to-embed-cross-border-rules/)
- [Acorns acquires Frich and names education co-leads](https://theindustryspread.com/acorns-acquires-frich-education-co-leads/)
- [Pave Finance extends its Series A round to $20 million](https://theindustryspread.com/pave-finance-extends-its-series-a-round-to-20-million/)
- [Beyon Money joins barq and the close is still open](https://theindustryspread.com/beyon-money-joins-barq-close-still-open/)
- [Stand Insurance raises $70 million at a $1 billion value](https://theindustryspread.com/stand-insurance-raises-70-million-at-1-billion-value/)
- [Zaria Systems raises $5.2m while OCC charter stays pending](https://theindustryspread.com/zaria-systems-raises-5-2m-seed-occ-charter-pending/)
- [ID Finance secures €545 million to expand its Plazo app](https://theindustryspread.com/id-finance-secures-545-million-to-expand-plazo/)
- [Aeon says Pepkor's Shop2Shop deal needed a shareholder vote](https://theindustryspread.com/aeon-says-pepkors-shop2shop-deal-needed-a-shareholder-vote/)

### Digital Assets

- [BNB Foundation burns 1.646 million BNB in 37th quarter](https://theindustryspread.com/bnb-foundation-burns-1-646-million-bnb-in-37th-quarter/)
- [Alpenglow holds October 21 while the clock runs early](https://theindustryspread.com/alpenglow-holds-october-21-while-the-clock-runs-early/)
- [IoTeX Zanzibar hard fork pays voter rewards on chain](https://theindustryspread.com/iotex-zanzibar-hard-fork-pays-voter-rewards-on-chain/)
- [Multiliquid's funding total is $8 million after Polychain seed](https://theindustryspread.com/multiliquid-total-funding-8-million-after-polychain-seed/)
- [Fhenix homepage names October 21, FAQ does not](https://theindustryspread.com/fhenix-homepage-names-october-21-faq-does-not/)
- [Fission raises $10 million to buy tokenised fund exits](https://theindustryspread.com/fission-raises-10-million-to-buy-tokenised-fund-exits/)
- [Cronos targets EVM v1.8 mainnet move for 22 October](https://theindustryspread.com/cronos-targets-evm-v1-8-mainnet-move-for-22-october/)
- [Unichain schedules OP Enterprise mainnet move for October 29](https://theindustryspread.com/unichain-schedules-op-enterprise-mainnet-move-october-29/)
- [Protocol 28 is the version Pi ledgers are closing on](https://theindustryspread.com/protocol-28-pi-ledgers-closing-on-version-28/)
- [Tether Capital invests in AIsa without a stated size](https://theindustryspread.com/tether-capital-invests-in-aisa-without-a-stated-size/)
- [Qivalis holds a Dutch e-money licence and is not issuing](https://theindustryspread.com/qivalis-holds-dutch-e-money-licence-not-issuing/)
- [Binance Pool closes November 10; shares stop at 07:00 UTC](https://theindustryspread.com/binance-pool-closes-november-10-shares-stop-at-0700-utc/)

### Regulation

- [CFTC carves casino wagers out of the swap definition](https://theindustryspread.com/cftc-carves-casino-wagers-out-of-swap-definition/)
- [Why client allocation messages must be machine-readable](https://theindustryspread.com/why-client-allocation-messages-must-be-machine-readable/)
- [SEC proposes wider fund crosses under Rule 17a-7](https://theindustryspread.com/sec-proposes-wider-fund-crosses-under-rule-17a-7/)
- [ESMA shrinks the list for delaying inside information](https://theindustryspread.com/esma-shrinks-the-list-for-delaying-inside-information/)
- [CJA 1993 and UK MAR still split the insider-dealing case](https://theindustryspread.com/cja-1993-uk-mar-still-split-insider-dealing/)
- [ASIC tests a 10-year CFD product intervention order extension](https://theindustryspread.com/asic-cs64-cfd-product-intervention-order-extension/)
- [FSB letter puts Cross-border Vulnerabilities before the G20](https://theindustryspread.com/fsb-letter-puts-cross-border-vulnerabilities-before-the-g20/)
- [FCA CP26/34 maps the 2028 transaction-reporting switch](https://theindustryspread.com/fca-cp26-34-maps-the-2028-transaction-reporting-switch/)
- [Fed extends Regulation O comments on R-1896 to 4 November](https://theindustryspread.com/fed-extends-regulation-o-comments-on-r-1896/)
- [ESMA's call does not expand CCP collateral categories](https://theindustryspread.com/esma-call-does-not-expand-ccp-collateral-categories/)
- [CP13/26 would lift 128 PRA thresholds with GDP](https://theindustryspread.com/cp13-26-would-lift-128-pra-thresholds-with-gdp/)
- [NFL tells the Supreme Court sports contracts are gambling](https://theindustryspread.com/nfl-tells-supreme-court-sports-contracts-are-gambling/)

### Market News

- [Feeder cattle to 343.925 cents by November 20, 2026](https://theindustryspread.com/feeder-cattle-to-343-925-cents-by-november-20-2026/)
- [Lean hogs to 65.00 cents by the 10 November USDA WASDE](https://theindustryspread.com/lean-hogs-to-65-00-cents-by-the-10-november-usda-wasde/)
- [AEX to 1,160 by 29 October: the ECB hold case](https://theindustryspread.com/aex-to-1160-by-29-october-the-ecb-hold-case/)
- [Soybean oil to 68.57 cents by the 10 November WASDE](https://theindustryspread.com/soybean-oil-to-68-57-cents-by-the-10-november-wasde/)
- [LME lead to $1,891 by January 15, 2027: stock-draw case](https://theindustryspread.com/lme-lead-to-1891-by-january-15-2027-stock-draw-case/)
- [LME tin to $51,000 by the January 15, 2027 prompt date](https://theindustryspread.com/lme-tin-to-51000-by-the-january-15-2027-prompt-date/)
- [Nikkei 225 to 66,200 by October 30: the BOJ retrace](https://theindustryspread.com/nikkei-225-to-66-200-by-october-30-boj-retrace/)
- [LME copper to $14,635 by January 14, 2027: premium fades](https://theindustryspread.com/lme-copper-to-14635-by-january-14-2027-premium-fades/)
- [Cotton to 78 cents by 10 November 2026: stocks case](https://theindustryspread.com/cotton-to-78-cents-by-10-november-2026-stocks-case/)
- [LME zinc to $3,550 by November 20 as stocks hit highs](https://theindustryspread.com/lme-zinc-to-3550-by-november-20-as-stocks-hit-highs/)
- [IBEX 35 to 19,232.1 ahead of the October 29 ECB call](https://theindustryspread.com/ibex-35-to-19232-1-ahead-of-the-october-29-ecb-call/)
- [Bovespa to 204,302.33 by November 4: record-high fade](https://theindustryspread.com/bovespa-to-204302-33-by-november-4-record-high-fade/)

### FOREX

- [EUR/RON to 5.3400 by November 12: the reference path](https://theindustryspread.com/eur-ron-to-5-3400-by-november-12-reference-path/)
- [USD/DKK to 6.6646 by October 29: spread stays -40bp](https://theindustryspread.com/usd-dkk-to-6-6646-by-october-29-spread-stays-40bp/)
- [USD/MYR to 4.1050 by November 5 on post-hold drift](https://theindustryspread.com/usd-myr-to-4-1050-by-november-5-on-post-hold-drift/)
- [GBP/ZAR to 21.70 by 5 November: the rand carry case](https://theindustryspread.com/gbp-zar-to-21-70-by-5-november-the-rand-carry-case/)
- [USD/HUF to 325.91 by 20 October 2026 if the MNB holds](https://theindustryspread.com/usd-huf-to-325-91-by-20-october-2026-if-the-mnb-holds/)
- [USD/COP to 3,072.27 by 30 October 2026 on peso carry](https://theindustryspread.com/usd-cop-to-3072-27-by-30-october-2026-on-peso-carry/)
- [USD/PEN to 3.3500 by November 12: the surplus case](https://theindustryspread.com/usd-pen-to-3-3500-by-november-12-surplus-case/)
- [USD/TWD to 31.795 by 17 December 2026: the surplus case](https://theindustryspread.com/usd-twd-to-31-795-by-17-december-2026-the-surplus-case/)
- [USD/CLP to 997.75 by 27 October 2026, the hold case](https://theindustryspread.com/usd-clp-to-997-75-by-27-october-2026-the-hold-case/)
- [GBP/NOK to 12.5480 by November 5: the rate-gap case](https://theindustryspread.com/gbp-nok-to-12-5480-by-november-5-rate-gap-case/)
- [NZD/CHF to 0.47155 by December 10: the OCR carry case](https://theindustryspread.com/nzd-chf-to-0-47155-by-december-10-ocr-carry-case/)
- [GBP/SEK falls to 13.0773 by 4 November on krona risk](https://theindustryspread.com/gbp-sek-falls-to-13-0773-by-4-november-krona-risk/)

### Prop Firms

- [IQ Capital review: 90 per cent, 80/20, or 100 per cent](https://theindustryspread.com/iq-capital-review-90-percent-80-20-100-percent/)
- [MyForexFunds sets 23 November, with no rulebook yet](https://theindustryspread.com/myforexfunds-23-november-2026-no-rulebook/)
- [Pivex review: two legal names, and no split in the terms](https://theindustryspread.com/pivex-review-two-legal-names-no-split-in-terms/)
- [Traderscale review: 24-hour claim, two-day review clock](https://theindustryspread.com/traderscale-review-24-hour-claim-two-day-clock/)
- [MixFunded review: sales cards and the rulebook clash](https://theindustryspread.com/mixfunded-review-sales-cards-rulebook-clash/)
- [CK Prop review: 80% split, a 3% cap and the buffer](https://theindustryspread.com/ck-prop-review-80-split-3-percent-cap/)
- [Carrot Funding review: 80% split, contract says simulated](https://theindustryspread.com/carrot-funding-review-80-split-simulated-contract/)
- [FundedRight review: 80% reward and a Vanuatu operator](https://theindustryspread.com/fundedright-review-80-percent-reward-vanuatu-operator/)
- [InsaneFunding review: an 80% split that starts at 50/50](https://theindustryspread.com/insanefunding-review-80-split-starts-at-50-50/)
- [Vest Capital review: prop terms call accounts simulated](https://theindustryspread.com/vest-capital-review-prop-terms-call-accounts-simulated/)
- [WenCrypto review: 80% split, first payout capped at 6%](https://theindustryspread.com/wencrypto-review-80-split-first-payout-cap/)
- [What is a funded account: simulated capital, not yours](https://theindustryspread.com/what-is-a-funded-account-simulated-capital/)

### Industry Insights

- [Global dollar woes continue. Is a peak in sight?](https://theindustryspread.com/global-dollar-woes-continue-is-a-peak-in-sight/)
- [Google searches for “recession” peak and other lagging indicators](https://theindustryspread.com/google-searches-for-recession-peak-and-other-lagging-indicators/)
- [Forex Liquidity Providers – Good or Evil?](https://theindustryspread.com/forex-liquidity-providers-good-or-evil/)
- [The Impact of the Russia/Ukraine Crisis on the UAE](https://theindustryspread.com/the-impact-of-the-russia-ukraine-crisis-on-the-uae/)
- [Should I Accept Bitcoin As A Small Business Owner?](https://theindustryspread.com/should-i-accept-bitcoin-as-a-small-business-owner/)
- [What is Prime of Prime Liquidity?](https://theindustryspread.com/what-is-prime-of-prime-liquidity/)
- [Top Tips for Attracting New Traders](https://theindustryspread.com/top-tips-for-attracting-new-traders/)
- [Risk-off reigns; USD holds until Fed provides clarity](https://theindustryspread.com/risk-off-reigns-usd-holds-until-fed-provides-clarity/)
- [The Death of Signals: Why Trading Signals Do Not Equal Customer Engagement](https://theindustryspread.com/the-death-of-signals-why-trading-signals-do-not-equal-customer-engagement/)
- [Why Should you Build a White Label Cryptocurrency Exchange?](https://theindustryspread.com/why-should-you-build-a-white-label-cryptocurrency-exchange/)
- [Are Central Banks Getting in the Way of the Gold Play?](https://theindustryspread.com/are-central-banks-getting-in-the-way-of-the-gold-play/)
- [How to Select the Best Forex CRM System?](https://theindustryspread.com/how-to-select-the-best-forex-crm-system/)

### People News

- [Wombat Announces ex-Revolut Chad West as Third Advisor in a Row](https://theindustryspread.com/wombat-announces-ex-revolut-chad-west-as-third-advisor-in-a-row/)
- [Broadway Technology Continues Hiring and Promotion Spree for Lead Roles](https://theindustryspread.com/broadway-technology-continues-hiring-and-promotion-spree-for-lead-roles/)
- [FXall General Counsel Jim Sullivan moves to oneZero](https://theindustryspread.com/fxall-general-counsel-jim-sullivan-moves-to-onezero/)
- [JPMorgan Exec Sarah Youngwood Appointed CFO at UBS](https://theindustryspread.com/jpmorgan-exec-sarah-youngwood-appointed-cfo-at-ubs/)
- [Shares Appoints Harjas Singh as Co-Founder & Chief Product Officer](https://theindustryspread.com/shares-appoints-harjas-singh-as-co-founder-chief-product-officer/)
- [Integral Hires ex-Gold-i CCO Julian Elliott](https://theindustryspread.com/integral-hires-ex-gold-i-cco-julian-elliott/)
- [DIGITEC Adds 4 Executives in London to Grow FX Swaps and NDF Pricing and Data Business](https://theindustryspread.com/digitec-adds-4-executives-in-london-to-grow-fx-swaps-and-ndf-pricing-and-data-business/)
- [CryptoUK Taps Amazon UK Exec As Non-Executive Director](https://theindustryspread.com/cryptouk-taps-amazon-uk-exec-as-non-executive-director/)
- [BitMEX Hires Michele Bertacco As CMO to Promote New Business Segments](https://theindustryspread.com/bitmex-hires-michele-bertacco-as-cmo-to-promote-crypto-derivatives-exchange/)
- [Saxo Bank Appoints Brit Kannegaard Johannessen to Lead Human Resources](https://theindustryspread.com/saxo-bank-appoints-brit-kannegaard-johannessen-to-lead-human-resources/)
- [OANDA Hires ex-Cboe Lisa Shemie as General Counsel](https://theindustryspread.com/oanda-hires-ex-cboe-lisa-shemie-as-general-counsel/)
- [BCS UK Appoints Julien Mareschal as Chief Risk Officer at Prime Brokerage](https://theindustryspread.com/bcs-uk-appoints-julien-mareschal-as-chief-risk-officer-at-prime-brokerage/)

### Feature Articles

- [Tools For Brokers Pushes its Trade Processor Liquidity Bridge](https://theindustryspread.com/tools-for-brokers-pushes-its-trade-processor-liquidity-bridge/)
- [Fintech BM Technologies Buys a Bank As it Focuses on Expansion](https://theindustryspread.com/fintech-bm-technologies-buys-a-bank-as-it-focuses-on-expansion/)
- [Freetrade Launching Seventh Crowdfunding Campaign as it Looks for Further Expansion](https://theindustryspread.com/freetrade-launching-seventh-crowdfunding-campaign-as-it-looks-for-further-expansion/)
- [Digital Trade Financing Pact Signed between the MAS and UAE](https://theindustryspread.com/digital-trade-financing-pact-signed-between-the-mas-and-uae/)
- [Socure Raises $450 Million in Latest Round of Funding](https://theindustryspread.com/socure-raises-i450-million-in-latest-round-of-funding/)
- [FTX Invests in African Cross Border Payment Provider Chipper Cash](https://theindustryspread.com/ftx-invests-in-african-cross-border-payment-provider-chipper-cash/)
- [Interactive Brokers Targets Socially Conscious Investors with IMPACT Platform](https://theindustryspread.com/interactive-brokers-targets-socially-conscious-investors-with-impact-platform/)
- [Nike Applies for Patents to Its Virtual Trademarks](https://theindustryspread.com/nike-applies-for-patents-to-its-virtual-trademarks/)
- [Paysafe On Path for European Expansion as it Completes Acquisition of viafintech](https://theindustryspread.com/paysafe-on-path-for-european-expansion-as-it-completes-acquisition-of-viafintech/)
- [Paysafe Partners with Bitrise to power Faster Mobile App Upgrades and Releases](https://theindustryspread.com/paysafe-partners-with-bitrise-to-power-faster-mobile-app-upgrades-and-releases/)
- [Robinhood Posts Mixed Results for Q3, 2021](https://theindustryspread.com/robinhood-posts-mixed-results-for-q3-2021/)
- [Amazon and Softbank Invest in $108 million Funding Round of Pismo](https://theindustryspread.com/amazon-and-softbank-invest-in-108-million-funding-round-of-pismo/)

## Writers

- [Rick Steves](https://theindustryspread.com/author/rick-steves/): Senior Reporter, Regulation and Fintech
- [Karthik Subramanian](https://theindustryspread.com/author/karthik-subramanian/): Digital Assets Correspondent
- [Abdelaziz Fathi](https://theindustryspread.com/author/abdelaziz-fathi/): Senior Reporter, Brokers and Prop Firms
- [The Industry Spread](https://theindustryspread.com/author/the-industry-spread/): Editorial Team

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