FX technology vendors are leading the world in FinTech – here is an endorsement that paves the way

Rather like “Y2K” or “Millenium” at the end of the last century, today’s buzzword is FinTech, a word which is very much central to conversations across the entire world, in all sectors of the financial services business ranging from banking and lending, right through to institutional electronic trading. Companies which consider themselves to be very […]

FX technology vendors are leading the world in FinTech

Rather like “Y2K” or “Millenium” at the end of the last century, today’s buzzword is FinTech, a word which is very much central to conversations across the entire world, in all sectors of the financial services business ranging from banking and lending, right through to institutional electronic trading.

Companies which consider themselves to be very much part of the FinTech culture have gained tremendous kudos, and are regarded as plate glass, ultra-modern innovators whose executives are young, sophisticated and urbane. Gone are the days in which bank staff were feared by retail customers, and in which the notion of a meeting with a member of bank staff conjured up images of said person resembling a stereotypical used car salesman in 1970s East London.

IMG_6685 (1)
Leverate Group R&D Manager Or Chubook talks to Andrew Saks-McLeod about tech innovation in FX

Once the retail financial services world began to become not only technology reliant but a technology leader, paving the way for many other industries to adopt technical initiatives first seen in financial services, the donkey jacket and brylcreme gave way to the stylish and casual brand names, and the images of backstreet sales methodology gave way to the cafe culture of the hippest cities in Europe, Asia and North America.

Indeed, this initiative has gone so far that FX technology vendors are now beginning to gain very distinct recognition among FinTech leaders, by all-encompassing publications and at global events which focus on all new innovations, not just FX and electronic trading.

Under normal circumstances, the gaining of an award by an FX broker or technology vendor would have the same effect as a dose of mogadon, however last week’s nomination by uber-trendy FinTech news source Red Herring nominated FX broker enterprise technology company Leverate as winner of its Top 100 Europe Award.

Leverate was chosen amongst a total of 1200 innovative companies across Europe in various fields, from telecommunications to security, cloud, software, hardware, biotech and mobile and granted this award during a ceremony that took place in Amsterdam this past April 11th – 13th.

“After meeting and hearing about many of the companies that were nominated to this award, I am truly honored and proud of our selection. There are many other great companies from bio-tech, Fin-tech, Ad-Tech, and other technological spaces that did not win, which makes this award and honor even more significant. We are extremely proud of what we have accomplished and of the team behind Leverate” – Kobi Gur, CEO, Leverate.

Leverate’s research and innovation efforts, including placing considerable emphasis on the importance of scalable technology solutions and how market events that pass without glitch can remain a part of the trading topography without having to concern traders and brokerages not only with volatility, but with technological outages as a result of extreme volume.

“When there is a high load in the market, there are difficulties that arise which can cost brokerages vast amounts of money. These are byproducts of system instablility caused by trying to cope with high volumes, such as arbitrage opportunities by rival traders, and outages meaning trades cannot be executed, opened or closed, and of course slippage. We have put a lot of effort into execution speed, latency, how fast a trade can be processed to the market, and also by traders to our servers”” – Or Chubook, Group R&D Manager, Leverate.

Leverate has made outstanding advancements in social trading, having created one of the largest Forex trading communities and in automation technology, allowing brokers to optimize their acquisition, conversion and retention rates. The company has also taken a huge leap forward in terms of geo-expansion in Asia, opening offices in Hong Kong and Shanghai and offering an extremely localized solution.

It is indeed a move in the right direction for the FX industry when technology vendors that have long since been particular to our industry only, are beginning to be the subject of reference and worldwide recognition across all sectors of technological development.

Read this next

Retail FX

Malaysia regulator exposes OctaFX clone, shady FB profiles

Malaysia’s financial regulator today warned online investors about the risks of following investment tips made on social-media platforms.

Digital Assets

Crypto trading volume spikes at Swiss bourse amid FTX collapse

The shockwaves from the historic collapse of Sam Bankman-Fried’s crypto empire are still being felt across the industry, but some trading venues are actually doing better because of it.

Executive Moves

CMC Markets adds Camilla Boldracchi to institutional sales

UK’s biggest spread better, CMC Markets has promoted Camilla Boldracchi to take on an expanded role within its institutional sales desk.

Institutional FX

FXSpotStream reports $1.48 trillion in monthly volume for November

FXSpotStream’s trading venue, the aggregator service of LiquidityMatch LLC, reported its operational metrics for November 2022, which moved higher on a yearly basis but reflected weak performance across executed trade volumes when weighed against the figures of the prior month.

Retail FX

Interactive Brokers’ client activity drops 30% YoY

Interactive Brokers LLC (NASDAQ:IBKR) saw 1.95 million daily average revenue trades, or DARTS, in November 2022 compared to 1.96 million transactions in the prior month.

Digital Assets

The rise of Crypto ETPs in traditional exchanges as crypto winter deepens

Institutional investors are increasingly looking at traditional regulated exchanges as their first route into digital assets amid market turmoil caused by the crypto winter and the collapse of several big names within the space, including FTX. Acuiti and Eurex surveyed 191 buy and sell-side firms on their views of the digital assets markets in order […]

Digital Assets

TP ICAP’s crypto arm receives FCA’s go-ahead

UK interdealer broker TP ICAP has received a regulatory go-ahead to launch its cryptocurrency services in the UK. The bid shows that the recent collapse of FTX exchange has done little to damp the interest of big names in running their own crypto business.

Industry News

Coin Signals founder to pay $2,847,743 after prison sentence over crypto Ponzi scam

The U. S. District Court for the Southern District of New York has ordered Jeremy Spence, founder of Coin Signals, to pay $2,847,743 in restitution to victims of a fraudulent virtual currency scheme.

Digital Assets

CME Group goes DeFi: Reference rates and real-time indices of Aave, Curve, Synthetix

“These rates are designed to provide traders, institutions and other users transparency and price discovery across a much broader range of tokens, allowing them to confidently and more accurately value cryptocurrency sector specific portfolios and manage price risk around various blockchain-based projects.”