• Forex Weekly Look Back: Plus500 reports strong revenue for the year, Fullerton Markets adds MT5 platform

    Executed over several days in the first week of February this year in order to limit market slippage, Tesla made a $1.5 billion bitcoin purchase which has now been revealed by Block to have been brokered by the cryptocurrency platform, Coinbase. Up until this announcement it had been unclear who had facilitated the significant purchase, a mystery which had opened up the idea to a brand new set of mainstream institutional investors and corporates.

    The European Securities and Markets Authority (ESMA) has released a statement expressing concerns over the growing retail trading activities based on information from social media forums. The European Union’s securities markets regulator highlighted the risks for retail investors related to trading decisions based on informal recommendations and sharing trading intentions through social networks and unregulated online platforms.

    StoneX announced today the launch of its Messaging Hub (XMH) service, which will be used to automate and standardise payments and financial messaging flows across established applications and systems. This enterprise-grade technology solution will act as a single gateway for the process, covering both the inbound and outbound flows of financial documentation present in daily operations for financial institutions as well as blue-chip corporations.

    An official statement revealed that Global technology provider First Derivatives has become an Amazon Web Services (AWS) Advanced Consulting Partner. The announcement forms part of FD’s overarching strategy of improving knowledge and services offerings in the areas of compliance, data management, risk, regulatory reporting, trading technology and Financial Services ISVs with cloud expertise.

    FlexTrade Systems, a multi-asset execution and order management systems provider announced Lyxor Asset Management’s adoption of FlexNOW EMS, which combines cloud, desktop, mobile and API technology.  FlexNOW provides Lyxor’s traders with the power and flexibility to transition between the different challenges of working conditions we see today. One of the reasons to transition to the FlexNOW EMS is the ability to trade several thousand stocks and futures across scores of brokers and algos in seconds. The transition offers the French-based asset management specialist regular updates to add automation, more asset classes and the ability to adapt to newer workflows.

    With Piero Novelli stepping down as Co-President of Switzerland based UBS Investment Bank on the 31st of March 2021, it has been announced that Robert Karofsky is to take over as sole President. A recently released statement confirmed that Novelli is retiring from the banking industry to pursue new endeavours, including academic roles teaching business and finance, and non-executive chairman positions. Following the announcement, the pan-European exchange for the Eurozone, Euronext, has stated it is hiring Novelli as its new chairman.

    Securities and Exchange Commissioner (SEC) Commissioner Hester Peirce has called for clear cryptocurrency regulation in an interview recently published on Reuters. The cryptocurrency-friendly Commissioner said there is an urgent need for regulation as companies such as Tesla Inc, BNY Mellon Corp and Mastercard Inc. have shown their support for digital currency. Often called “Crypto Mom” by crypto enthusiasts, Peirce has advocated for the need for clear rules to allow crypto assets to be widely used without fear of breaking the law.

    The post Forex Weekly Look Back: Plus500 reports strong revenue for the year, Fullerton Markets adds MT5 platform appeared first on LeapRate.

    Join the Discussion

    Your email address will not be published. Required fields are marked *

    Back to top