Broker Updates Archives - FinanceFeeds

TitanFX becomes the latest member of the Financial Commission

November 24, 2020, 6:22 pm UTC.

TitanFX becomes the latest member of the Financial Commission

Today, the FX industry’s external dispute resolution (EDR) organization, Financial Commission, announces TitanFX – one of the Financial Markets Association of Vanuatu participants, as its newest approved Member.

TitanFX’s membership took effect on November 23, 2020, following the approval of its membership application by FinaCom board, thus allowing the company and its customers access to a wide range of services, including, but not limited to, protection for up to EUR 20,000 per the submitted complaint, backed by the Financial Commission’s compensation fund.

Financial Commission provides brokerages and their customers with an unbiased 3rd party mediation platform that helps resolve complaints in instances when parties are unable to directly come to an agreement over disputes.

For approved members and their clients participating in CFDs and foreign exchange (forex) markets, Financial Commission helps facilitate a simpler, swifter resolution process than through typical regulatory channels such as arbitration or local court systems.

TitanFX joins a diverse range of brokerages and independent services providers (ISPs) that utilize the services of the Financial Commission and as part of their commitment to their clients while upholding membership requirements.

October 21, 2020, 11:22 am UTC.

Skilling Unveils World-Class Chess Legend Magnus Carlsen as Global Brand Ambassador

FX and CFD trading platform Skilling has announced global superstar Magnus Carlsen, reigning World Chess Champion and the top ranked player in the world, as their official global brand ambassador.

The initial one-year partnership sees Carlsen become the face of Skilling, with tournament sponsorship, television exposure, digital, social and video rights all included within the deal.

Carlsen will wear the Skilling logo on the sleeve of his jacket and shirt during tournaments, while Skilling will also benefit from exposure across Carlsen’s digital and social media channels.

Skilling will also become Play Magnus’ title partner, with the Champions Chess Tour 2021 Tournament 1 to be officially entitled the ‘Skilling Open’ on all Play Magnus broadcasts globally. The tournament is scheduled to run from November 22nd to November 30th.

Most of the world´s top chess players are expected to participate in the exclusive online tournament, with Skilling featured in player’s backdrops when playing matches, and every player hashtagging #SkillingOpen across social media.

The previous Tour was the first online chess event to be distributed across broadcast TV in Europe, Asia, and Russia. The previous Magnus Carlsen Champion Chess Tour captured 70 million viewers.

Securing a partnership with the biggest name in chess is a moment of immense significance for the Scandinavian-owned fintech brand, which, despite only being launched in 2019, is already firmly established in the trading sector, and now counts ‘The Mozart of Chess’ as the face of the Skilling brand.

The Skilling trading platform is user-friendly for beginners, and intuitive for experienced traders, with the aim of bringing transparency, accessibility, and simplicity to the traditionally opaque trading process. Skilling users can trade in more than 800 forex and CFD financial instruments, including currency pairs, cryptocurrencies, indices and popular commodities.

André Lavold, CEO and Co-founder of Skilling, said:

“Knowing how selective and discerning Magnus is in his choice of strategic partners, this feels like a watershed moment for Skilling, and an emphatic affirmation that we are building a platform that can reshape the world of trading.

Our respect for Magnus as a competitor is enormous, and we see this as a natural partnership owing to the intellectual overlap between chess and trading. Both demand focus, risk management and the ability to think ahead.

Magnus is an icon to millions of people from all over the world, and we look forward to seeing how their skills can transfer onto the Skilling platform.”

Magnus Carlsen said: “I have been fascinated by Skilling as a fintech player, and that I like their desire to make things accessible and easy for both beginners and those with experience. We share the view that everyone with an interest in something should have the opportunity to utilize and develop their full potential.”

October 16, 2020, 6:08 pm UTC.

ACY Securities becomes the Official Trading Sponsor of the Australian Turf Club

ACY Securities, the award-winning ASIC-regulated multi asset online trading provider has entered into a sponsorship deal with the Australian Turf Club (ATC), one of Australia’s most exclusive thoroughbred horseracing clubs and organiser of the world’s richest race on turf – The Everest.

Under the new sponsorship, which will be formally announced at the ACY Securities 10th Anniversary gala dinner in February 2021, the fintech broker will become the Official Trading Sponsor of the ATC.

To celebrate the new relationship, the Australian Turf Club has named the Victory Vein Plate as the ACY Securities Victory Vein Plate, which will take place as race number 1 at The Everest tomorrow – the showcase event of the Sydney Spring Racing Carnival.

Jimmy Ye, Co-Director of ACY Securities said that ACY Securities was proud to be the Official Trading Sponsor of an organisation that has been bringing people together through horseracing for over 150 years.

“The ATC has been bringing people together and providing a uniquely thrilling experience through the magnificent sport of horseracing for over 150 years. Their events are a source of inspiration and excitement and we are proud to be their Official Trading Partner” said Mr Ye in a statement this afternoon.

The Everest will take place at Sydney’s Royal Randwick and being the richest race in Australia and richest turf race in the word, it will be broadcast to an audience of millions globally.

September 30, 2020, 7:10 pm UTC.

AxiTrader Becomes Axi and Launches Funding Program for Traders

Axitrader, a top 10 global online broker for retail and institutional customers, has rebranded to become Axi.

The new brand represents a bold move away from category norms, capturing the excitement of trading the markets while reflecting the human, customer-centric approach that is at the heart of the Axi brand.

Launches Axi Select incubation program: Giving traders the edge

Coinciding with the rebrand and new Axi name is the launch of Axi Select, an incubation program designed to provide talented retail traders with an equal opportunity to become full-time professional traders.

To date, Axi Select has allocated over A$10 million to traders who have entered the program. Under this unique program, Axi provides retail traders with the necessary tools – including an Artificial Intelligence-backed performance analysis platform called PsyQuation – plus the funding to get them on the path to professional trading.

Axi Select is at the core of Axi’s offering and one of the major components in the new brand’s message of ‘trading your edge’.

Encouraging traders to realise their ambitions

The new name comes with a new logo, with the edge of ‘X’ reflecting an upward move in the markets and symbolising ‘the edge’ that every trader needs. The new tagline Trade your edge’ encourages traders to capitalise on their self-belief and realise their ambitions.

Axi wants the new brand to appeal beyond professional traders and institutions, intending for it to also resonate with potential traders and investors around the world.

Partnership with Manchester City Football Club

A core part of this strategy comes with today’s announcement of a multi-year partnership with Manchester City Football Club.

This is the first major sports partnership for Axi and will help the company create a global awareness for its new tagline ‘Trade your edge’ through high-profile placements within the Etihad Stadium, on the City website, and also through activations with customers and fans online and at events with a range of exclusive offers and promotions.

Rajesh Yohannan, CEO at Axi said: “We have introduced a lot of innovation over the past few years – a more robust platform and a wider range of products for our clients around the world. This rebrand to Axi reflects our continuing efforts to deliver the trading edge for every trader.”

Louis Cooper, Chief Commercial Officer at Axi said: “At the core of Axi is the vision to enable every trader to ‘Trade your edge’. And we believe that as we expand to more regions, more traders can benefit from our wide range of trading products and services.”

Regarding the partnership with Manchester City, Mr. Cooper said: “As we started looking into relaunching our brand, we felt there were lots of similarities with how the world’s leading football clubs are focused around gaining that competitive edge and Manchester City personified that.”

He added, “The refresh of the Axi brand and the partnership with Manchester City is part of our strategy to make our brand, award-winning services and product portfolio more accessible to more traders across the 100+ countries we operate in.”

About Axi 

Axi is a global online FX and CFD trading company, trusted by thousands of ambitious customers in 100+ countries around the world. We help new traders, pro-traders, trading businesses, banks, and financial organizations find the edge they need to achieve their financial goals through informed transactions made on the world’s financial markets. Axi offers a wide range of assets including CFDs for several asset classes including forex, gold, silver, coffee, and other commodities.

At Axi, we are proud of our reputation as an honest, fair, and trusted broker. Our many awards and ‘excellent’ reviews through Trustpilot, prove we have earned the confidence of customers who value our outstanding service, fast execution, secure payments, segregated funds, and easy withdrawals.

Moreover, we also work pro-actively with the leading regulatory governing authorities globally to ensure we exceed the highest standards in the industry.

September 29, 2020, 11:44 am UTC.

HotForex celebrates double award triumph in Africa

 HotForex, the internationally acclaimed multi-asset broker on CFDs, has raised the bar in the FX industry since the company has received two prestigious titles from International Business Magazine, the “Best Trading Experience Africa 2020” and the “Best Client Fund Security Africa 2020”, in recognition of the quality of the trading experience and the high levels of fund security provided to its traders and investors across Africa. 

Since the company’s inception, its mission and business strategy have remained 100% client-focused. The range of products and services is very wide providing a rewarding trading experience and a more professional trading environment for traders. The company also complies with a strict regulatory framework and is constantly refining practices to ensure the highest possible levels of reassurance for clients and their funds. Negative balance protection, a market leading civil liability insurance program and segregation of funds are some of the measures HotForex has taken in order to provide a comforting and secure environment for clients. 

HotForex CEO George Koumantaris commented: “We are all very pleased and honored for this great achievement. It is an affirmation that we always put our clients at the core of our business. We welcome this award and continue to work hard towards meeting the demands of our clients.”

September 23, 2020, 7:28 am UTC.

TraderEvolution partners with Singaporean broker-bealer UOBKayHian

One of the most rapidly growing end-to-end technology providers in the industry, TraderEvolution, continues to increase its portfolio of partnerships. The latest deal the company announces is with one of the largest broker-dealers in Singapore, UOBKayHian. The firms have announced a new partnership which will enable the brokerage company to offer a seamless multi-asset trading platform solution to its clients.

The broker-dealer based in Singapore has a strong regional presence and is committed to the continued development of its offering. With the ongoing development of new products, featuring multiple asset classes, the firm has turned to a proven technology leader in the industry to deliver a next-generation experience to UOBKayHian’s retail and high net worth individuals and corporate clients.

TraderEvolution is complimentary to the broker’s strategy to offer its clients access to trading a multitude of asset classes, including futures, and listed options as well as CFDs on equities and indices, leveraged FX and metals. UOBKayHian’s partnership with the multi-asset platform provider ensures the scalability of its offering and seamless perspective for adding access to more financial instruments.

“The addition of this important partnership in the Far East perfectly underscores our capability to adapt to the needs of different markets. The combination of multi-market product offering, retail and corporate clientele and specifically customized requirements made this project to be very much in line with our specialization. We are continuing our expansion across different geographies and are pleased to help with such ambitious projects,” the CEO of TraderEvolution, Roman Nalivayko commented.

September 22, 2020, 5:58 pm UTC.

CFH announces its Zero hold time liquidity pool in response to market requirements

CFH have created a dedicated Zero hold time liquidity pool that is aimed at clients whose priority is speed of execution and those who want multiple liquidity pools for different trading strategies or requirements, all through a single account where everything is fully cross margined and netted down automatically providing a capital and cost efficient solution.

Counterparties in the prime of prime space tend to focus on speed of execution or good pricing with a hold time meaning that traders who want to take advantage of both have to sign-up in two places and split their funds. With CFH you can trade on both through the same account.

“Historically there has been a trade-off between speed of execution and pricing. Traders should have the option to choose which is right for them based on their trading style and requirements.” Andy Biggs, Head of Liquidity, CFH

The CFH Liquidity Team has curated a Zero hold time pool that minimises the gap in pricing to standard feeds and has sustainable pricing that performs well in times of volatility.

CFH’s Liquidity Partner XTX Markets, already operates this model and both companies believe that the market will move to a Zero hold time model in the future as the justification for imposing a holding window weakens, due to the speed at which primary market data is updating.

“Extending Zero hold time liquidity is a fantastic initiative. This product shows there is no reason for hedge funds and established brokers to accept excessive last look windows or quotes they cannot hit, in today’s market.” Matt Clarke, Head of Distribution and Liquidity Management EMEA, XTX Markets

 

 

August 27, 2020, 7:17 pm UTC.

ATFX adds Autochartist to its official WeChat account

The global award-winning broker ATFX has just added Autochartist analytics and actionable content to their official WeChat account. Autochartist is a program which can identify chart patterns using technical indicators such as Fibonacci retracements.

It monitors markets 24 hours a day, alerting you to trading opportunities in real time.

The Chinese-speaking market is crucial for ATFX, which is why the company has prioritised this area for the integration of Autochartist into WeChat. An added bonus is that this development will increase customer engagement. ATFX’s official WeChat account which includes their company profile, educational videos, news, market insights, will now contain snippets of daily analysis provided by Autochartist.

Adding Autochartist analytics to their WeChat account will be valuable for ATFX for a number of reasons. The program provides analysis to cater for all levels of traders, from beginners to advanced. ATFX will provide its clients with some of the best market analysis available on its official WeChat. Now clients can use the technical features, including chart pattern recognition, in conjunction with WeChat.

Traders from all levels can learn how to set their stop-loss and take-profit orders based on analysis of an asset’s volatility.

Jeffrey Siu, the Chief Operating Officer at ATFX Group commented, “WeChat is the default social communication of choice to reach our target Chinese-speaking audiences. The Autochartist content on WeChat is engaging and builds awareness. This gives our valued customers confidence to make smart trading decisions.

August 12, 2020, 8:25 am UTC.

TraderEvolution Integrates ICE Data Services Consolidated Feed

End-to-end trading technology provider TraderEvolution continues to build up its strategic relationships with a brand new integration with ICE Data Services. The collaboration enables TraderEvolution to offer its customers unique pricing and normalized exchange data from ICE Data Services’ Consolidated Feed. ICE Data Services is part of Intercontinental Exchange (NYSE:ICE).

The ICE Consolidated Feed aggregates content from 600+ sources and offers cost-effective, low latency access to depth-of-market data and multi-asset content to power proprietary and 3rd party applications and desktops across the front, middle and back office.

The multi-asset class coverage, including high quality evaluated pricing, spans across equities, derivatives, fixed income, foreign exchange, money markets, commodities, energy and ETFs, and now becomes readily available to TraderEvolution’s broker customers.

Commenting on the collaboration, the CEO of TraderEvolution, Roman Nalivayko said: “We are very excited to unveil this data-oriented collaboration. ICE Data Services provides global coverage which is in line with the concept that we pursue at TraderEvolution to offer a universal and diversified multi-market solution. This integration is important for us to deliver a fully-functional trading software covering multiple global markets.”

With more and more brokerages expanding into multi-asset trading, firms are dealing with an increasingly large and complex pool of assets sourced from different trading venues. This requires easily scalable trading technology for obtaining, managing and distributing market data. TraderEvolution enables its broker customers to add real-time and delayed quotes, as well as automated instrument updates. For brokers that aggregate data from numerous exchanges around the globe and manage thousands of instruments, automation has become a mission-critical part of their processes.

About TraderEvolution

TraderEvolution is a multi-market trading platform provider offering modular, tailored solutions that include a back-end with established connectivities to dozens of markets across the globe, and a complex front-end suite with web, mobile and desktop applications. The company serves banks and brokers from around the world, empowering them with an independent and liquidity-neutral solution to facilitate core brokerage operations or to complement their existing solutions. For more information please visit: www.traderevolution.com

July 30, 2020, 11:10 am UTC.

Traders embrace the 2020 Trading Cup in record numbers

The 2020 Trading Cup, an international trading tournament which is currently in its second stage of competition, has registered a record number of entrants joining the contest, making this year’s contest the most popular since it began in 2018.

With 6 stages that run for a month each, the Trading Cup contest is the only one of its kind in the world, with a UFC style 1-hour Grand Final taking place to crown the best performing trader.

Attracting traders from all walks of life and from all over the world, the competition sees a variety of different trading strategies and tactics being used by contestants to out-trade each other.

When asked about which trading strategies are producing the winning results for the traders on top of the Leaderboard, Ashley Jessen, Head of Marketing at ACY Securities said that there is no one style of trading that stands out as the absolute best.

“We can categorically say that over the 3 years we have run this competition, there is no one style of trading that stands out as the absolute best. In Stage 1 this year, the top trader made over 782% after placing 1,037 trades. Yet in Stage 2 so far, the top trader has held one core position on Gold for the entire month. Two very different trading styles, yet both victorious” said Mr Jessen in a written statement today.

Christian Dove, Director at Synergy Markets, which is a major sponsor of the competition, said that the competition was designed to provide a competitive platform for traders and whether they join to win or join to learn about themselves as traders, it was likely to be an experience they will always remember.

“The Trading Cup contest is designed to provide traders a global stage to showcase their trading ability and battle each other in a competitive environment for a share in the US $150,000 prize pool. That’s why the contest is sometimes referred to as the UFC of trading” said Mr Dove in an interview this morning.

“But whether you are joining the contest to be crowned champion or you are joining to test how your trading style and mindset stack up against other traders, it is likely to be a unique and unforgettable experience – maybe even an experience of a lifetime if you make the grand final” Mr Dove continued to say.

Last year’s Grand Final was broadcast live around the world from the Studio City e-Sports arena in Macau. The 2020 Grand Final is slated to take place in either Singapore, London or Dubai, with the final decision expected to be announced after Stage 4.

To see how the top 10 traders of the 2020 Trading Cup are performing in Stage 2 (the Leaderboard is updated every hour), or to enter Stage 3 of the competition, visit the tournament’s official website by clicking here.

Image: Tim Cahill, former Everton superstar and Australian football legend speaks about the 2020 Trading Cup

 

July 24, 2020, 11:06 am UTC.

ACY Securities named Australia’s Best Broker in 2020

ACY Securities, the Fintech focused multi-asset broker headquartered in Sydney, has been named “Best Multi-Asset Broker in Australia in 2020” by leading tech magazine Technology Era.

Technology Era, which made the announcement in its special Forex Trading issue published this week, said that it was a unanimous decision to acknowledge ACY Securities as Australia’s best broker in 2020.

The published magazine article stated, “Taking into consideration the key features and products offered by ACY Securities, such as institutional-grade trading conditions, premium education, cut-through market analysis, an industry-leading client portal, and a global share CFD offering with 1:25 leverage , it was not a difficult decision for us to unanimously award ACY Securities the “Best Multi-Asset Broker in Australia for 2020”.

Justin Pooni, Head of Branding & Communications at ACY Securities, said that providing clients premium trading conditions and exceptional customer service was at the core of ACY’s value proposition and that the company is always looking for new and innovative ways to deliver clients the finest trading experience.

“Providing clients the best possible trading conditions coupled with exceptional client service and support is what ACY is all about, and we will always strive to challenge the status quo and deliver the finest of trading experiences to our clients” said Mr Pooni in a statement this morning.

ACY Securities has been the recipient of many awards and accolades in the last few years, including being named “Best Forex Broker – 2018” by International Business Summit, “Best Investor Education Broker – 2016 ” by FX168 Brokers Billboard, and “Best Forex Broker in Australia – 2015” by the prestigious Global Financial Market Review.

Read the article published by Technology Era here.

July 20, 2020, 1:52 pm UTC.

AxiTrader Economic Calendar – Guest Analysis

By Stephen Innes, Global Chief Market Strategist, AxiTrader

Week Ahead

Last week was another emotional roller coaster for investors who were left weighing the progress on a possible vaccine cure versus the increase in Covid-19 cases.

Coronavirus infection counts in the US, Brazil, India and elsewhere are prompting concerns about the health of the economic recovery, but the real story should be how on earth the S&P 500 remains enduringly bid even as worsening economic signals are now the best-case scenario. It’s a perplexing market that has many traders ignoring the newsreels in favor of price action alone.

In the US, while the number of new Covid-19 cases in earlier hotspots continues to decrease, rising infection rates in places such as Florida, California, Texas, Arizona and much of the South have bent the epi-curve for the country as a whole upwards. Moreover, rising mortality growth rates in about half of the states indicate that the spike in cases is not solely due to more testing. Updated estimates show that about 50-80% of GDP comes from counties that have seen worsening Covid trends, demonstrating that the virus’s continued spread remains a significant downside risk to the outlook.

This week’s jobless claims data will take on elevated significance, given that they correspond with the survey period for July nonfarm payrolls. It’s been documented by readily available mobility data that they’re are seeing a leveling off in small business activity and restaurant seating, mainly in response to the virus flare-ups and lockdowns in the most affected states which could have a more pronounced effect on the labor data until the lockdowns are lifted. Indeed, the US labor market could face more significant headwinds for some time.

This week’s economic calendar is relatively sparse, more so given that we’re entering the Fed blackout period ahead of its July 28-29 FOMC meeting. We’re another full week away before the FOMC effect turns full tap, but with Chair Powell peeking around the curtain waiting to rush the stage and deliver familiar themes – be it a small overshoot of the inflation target or their sustained dovish communication – it all continues to suppress longer-term yields. And at the same time, short term rates remain anchored to the Fed’s unambiguous policy of lower interest rates for as far as the eye can see. So, there should be little debate that hawks and centrists alike will continue to roost with the doves.

As for YCC, which continues to fill the Fed watcher’s speculative policy sphere, it remains a tool to be considered when guidance is not working. The Fed hasn’t rushed into YCC because it doesn’t need to; its purchases, coupled with “forward guidance” and the market’s principle behavior, are holding yields down. The curve is flat, the front-end low, hence there’s no need for the Fed to step in and fiddle with the curve or cap policies. Why fix what isn’t broken?

However, it’s fiscal policy headlines that might be a key focus this week as Senate Republicans are expected to release their specific plan for the next stimulus package. The consequences of government income support, which faces potential “benefits cliffs” – will be crucial to support Main Street’s back, even more so with civil unrest rife throughout the US.

The $600 per week in Federal Pandemic Unemployment Compensation (FPUC) is set to expire at the end of the month. Given the short period for negotiations, there’s a rising possibility that something does not get done for a few weeks beyond expiry.

As we move into the summer holidays, FX markets will be reacting to the outcome from the European Council summit on the recovery fund, so it should be a busy week for Forex Traders

The Nasdaq is taking a breather while Cyclicals outperform as positive vaccine headlines continue to pique investor interest. NFLX did not de-rail the Growth/Momentum trade but showed how elevated expectations have become for the ‘At-Home’ trade beneficiaries; expect a pick-up in single-stock dispersion under the hood.

The internal market dynamic remains strong with multiple short-term bullish market signals and technical support having kicked in since last week. There has been consistent, systematic buying by risk control and risk parity funds.

There’s a ton of earnings: clinical trial data on the AstraZeneca/Oxford vaccine candidate; testimony from vaccine companies; the market will digest the July 17/18 EU Summit; fifth US fiscal stimulus bill; July Flash PMIs.

So buckle in – it could be a fast-paced and action-filled week.

Asia

Sticking with the China blueprint, China’s Q2 GDP came in better than forecast. Many now think the near-term peak is in as the recovery has begun to slow, especially in the retail area. Trade data, however, surprised the upside in June.

Korea will be Asia’s main focus next week, however, the data could be less fortunate. The current whisper is for South Korea to report a 1.9% qoq a decline in GDP in Q2, leaving yoy growth at -1.6% in Q2, vs. +1.4% in Q1. While this marks its second quarterly contraction, using the China V shape recovery blueprint, the worst is likely behind.

Find out more about AxiTrader here

July 16, 2020, 11:58 am UTC.

HotForex wins “Decade of Excellence Forex Brokerage Asia 2020”

HotForex, the internationally acclaimed forex and commodities broker on CFDs, has been proudly presented with the “Decade of Excellence Forex Brokerage Asia 2020” award by Global Banking & Finance Review, as a result of its commitment to providing innovative high-quality trading services to all its clients in the Asian region and beyond. 

HotForex’s CEO Mr. George Koumantaris commented: “Winning this award is a nod to the top-quality services our company provides to its clients and reaffirms our position as an industry leader in the Asian region.  Our aim is to continue to apply our expertise skills in serving the needs of our clients complying best practices, experience and knowledge. It’s a true honor to receive this award and we take this opportunity to thank all our loyal clients for their support!” 

This year, HotForex celebrates ten years in business. In only a decade, the company has become a leading global FX broker with award-winning services that include full client support and protection, all the latest trading instruments and tools, and regulatory licenses from world renowned authorities.

July 13, 2020, 11:36 am UTC.

SquaredFinancial Launches New Partnership Programme

SquaredFinancial, the international investment firm, has launched a partner’s programme to encourage brokers to introduce traders to SquaredFinancial services and products.  SquaredPartner will allow individuals or corporations to grow their business through single or multi-tier referrals, which gives their clients all the benefits of trading with Squared.

Manie Van Rooyen, Chief Executive of SquaredFinancial Seychelles, commented: “IB programmes are regularly used by online trading firms and after receiving numerous requests to introduce a programme at Squared, we have put together SquaredPartner which we believe gives our users a best in class solution.  Our focus in working with a partner is to ensure that they have access to, and can pass onto their clients, high quality training, education and analysis.  We want to support trading for all investors whether they are starting out or highly experienced.  This new programme aligns very competitive commissions with the knowledge, experience and fintech solutions their clients are looking for in these unprecedented times.”

The SquaredPartner programme supports introducing brokers allowing them to build and expand their businesses, with the ability to grow their revenues through offering the Squared range of products and services.  As part of the programme partners receive a personal account manager, customised terms and conditions, and flexible pay out options.

July 13, 2020, 10:02 am UTC.

AxiTrader Economic Calendar – Guest Analysis

By Stephen Innes, Global Chief Market Strategist, AxiTrader

Week ahead

As we move into the summer months, there’s a jam-packed calendar of market impacting events over the week.

Arguably the week’s – or perhaps the month’s – highlight is the EU summit on Friday, where leaders will gather to discuss the recovery fund. We’ll also hear from the ECB, the Bank of Japan, and others as they make their latest monetary policy decisions. Meanwhile, earnings season begins to kick off next week, including many US financials reporting, and economic data includes China’s Q2 GDP reading, plus several June releases out from the US.

As for the summit itself, the guideline expectations are that there’ll be a deal on the recovery fund at this meeting, but with the EURUSD only sitting perched at 1.1300 it remains a close call. There’s much to be ironed out around the ratio of grants to loan to appease the so-called “frugal four” of the Netherlands, Austria, Sweden and Denmark who are only showing support for loans, not grants. Their support for the fund will be necessary as it requires the unanimous approval of member states.

Ahead of that, the central banks will capture the limelight, starting with the ECB on Thursday.

It’s universally expected that the ECB policy statement remains unchanged, following the decision at the last meeting to expand the comfort blanket for their Pandemic Emergency Purchase Programme by a further €600bn which brought the total up to €1.35tn, though recent comments from the ECB’s François Villeroy de Galhau that the central bank should examine targeting inflation were extremely dovish when they came from the French central banker on the policy meeting’s cusp.

As noted, we can also expect a decision from the BoJ on Wednesday. Similar to the ECB, they’ll be maintaining their present monetary policy stance, but of note will be the release of their quarterly Outlook Report, where a significant downgrade’s expectations are already in the price.

In addition to the ECB and the BoJ, three other G20 central banks will be making decisions on monetary policy next week.

First is the Bank of Canada on Wednesday, where the consensus expectation is they’ll leave their policy interest rate on hold at 0.25%. On Thursday the Bank of Korea is expected by economists to keep their policy rate at 0.5% amidst a rebound in domestic demand and rising house prices. And, later that day, investors expect a 25bps policy rate cut from Bank Indonesia, after their earlier announcement of QE. Finally, on the central bank front, the Federal Reserve will be releasing their Beige Book on Wednesday; as well as the expected press conferences, speakers next week include BoE Governor Bailey and New York Fed President Williams.

Moving on to data releases, this week’s economic calendar will provide more information on the pace of economic recovery, particularly consumer spending. Thursday’s retail sales report for June will likely garner significant attention, given the robust rebound in May.

Worrisome for risk is the fate of government income support which faces potential “benefits cliffs” and will be critical to the outlook. The $600 per week in Federal Pandemic Unemployment Compensation (FPUC) is set to expire at the end of July. Though the market expects Congress to pass further stimulus to address these cliffs, the two parties remain far apart on the next phase of federal government support.

With the US now experiencing record daily coronavirus case growth and most US states showing deteriorating trends, effectively containing this initial wave – and preventing a second wave – relies on how willing the public is to adhere to strict social distancing and other mitigation strategies. Lately, three of the most populous states have rolled back many stay-at-home orders, while roughly 80% of small businesses operating before the pandemic have since reopened. However, there’s evidence across the huge GDP contributing states where the virus is raging that it’s causing a more widespread plateauing of reopening.

Indeed, aside from the retail sales report this week, virus trends and high-frequency data such as jobless claims remain the primary focus on mobility data tracking, a new tool that traders have adopted as a fundamental signpost.

Small business activity and restaurant seating are leveling off, with states experiencing faster case growth underperforming. Consumers and businesses indicate a high level of sensitivity to the recent pickup in Covid-19 cases and they’ll scale back their behavior if they’re not confident the virus will be contained. Hence the need for a vaccine or effective therapeutic is key to controlling the fear factor.

Finally, the main highlight in Asia, if not globally on the data front, is likely to be China’s Q2 GDP release on Thursday.

Deutsche Bank economists expect a notable rebound in GDP growth to +3% year-on-year in Q2, following the -6.8% contraction in Q1. At the same time, there’ll also be the release of retail sales and industrial production for June, with economists expecting an expansion in retail sales of +0.7% yoy in June (versus -2.8% in May) and IP growth of +4.5% (versus +4.4% in May).

Find out more about AxiTrader here

The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

 

July 9, 2020, 12:48 pm UTC.

Alan Burr joins Sucden Financial for LME Metals and Options in Hong Kong

Sucden Financial, the global multi-asset execution, clearing and liquidity provider, has appointed Alan Burr for LME metals and options trading at its Hong Kong subsidiary.
The appointment of Burr will help enhance the Hong Kong hub’s market making to add liquidity in the region. He will primarily focus on LME metal products, including options and average price contracts, working directly with the category one LME member’s London trading team. In time, Burr will look to add precious metals and iron ore.

Prior to joining Sucden Financial, Burr was Director and Head of Metals Trading at Société Générale in Hong Kong and Singapore where he was responsible for trading and providing market making of metals products, covering base and precious metals and iron ore. He began his career at Natixis Commodity Markets Limited in 1995 and became a floor dealer in 1999 before moving to Natixis Asia Limited as Director and Head of Metals Asia in Hong Kong. In 2012 he moved to Newedge Financial Hong Kong Limited where he was Director and Head of Metals, establishing a new team across sales, trading and E-business.

Marc Bailey, CEO of Sucden Financial, said

“I am delighted to welcome Alan, who brings a wealth of on-the-ground experience dealing with clients in the Asia region. His appointment will boost our already established presence in the area, as we continue to grow our international business during these unprecedented times.”

July 8, 2020, 12:20 pm UTC.

Unprecedented is Becoming the New Normal – Says SquaredFinancial

Q3 2020 will continue to be dominated by Covid-19 as markets accept that lockdown was never a cure, it has just delayed the spread of the virus.  As countries expand track and trace and become more effective at isolating pockets of infection, we will see greater control allowing the opening of economies, but the risks remain.

Rony Nehme, Chief Market Analyst at SquaredFinancial commented: “The response to Covid-19 switches between necessity and expediency, which will not change until we have a way of controlling the virus.  The safe option is to maintain lockdown and social distancing, but Governments can’t risk further economic damage.”

” We believe there will be a V recovery – but V is for vaccine, not a shape.  Until we have a vaccine the pandemic will define financial markets and become the new normal.  In the short-term it is likely we will head into a range bound summer, as the markets find an uneasy equilibrium between the negative news flow and central bank stimulus” said Mr Nehme.

The SquaredFinancial Q3 Report is available at Q3 PDF and is one element of the trading advice, training and information which Squared provides to investors.  The analysis is developed in-house by the SquaredFinancial research team.

July 8, 2020, 11:36 am UTC.

CFH announces Tier 1 Loco London Liquidity for gold in grams and tael

CFH’s Bullion offering now covers a list of synthetic instruments based on the underlying Loco London gold offering to cater to the market needs in Australia, Singapore, China, Hong Kong, UAE and Turkey, providing a convenient way for clients to hedge gold positions quoted in different weight units and local currencies.

To cater for the niche yet growing requirement from bullion traders who receive gold trades from end clients denominated in grams or taels, CFH has added these products to their extensive bullion offering. The following bullion contracts will be available; Gold in teal against Hong Kong dollar, gold in grams against USD and Gold in grams against CNH.

Alex Yap, Senior Institutional executive at CFH says,

“East meets West” can give a whole new meaning to bullion trading. Spot gold in gram and Hong Kong tael quoted in US dollar and local currencies is another CFH product innovation.”

The new product offering from CFH targets clients trading gold denominated in different currency and unit such as RMB Kilobar which is frequently traded in Shanghai Gold Exchange.

Gold traders often require OTC venues to manage their exposure to traditional exchange products that are less flexible

Alex MacKinnon, CEO APAC finishes with,

“This addition to our bullion offering further establishes CFH as a leader in the prime brokerage and Liquidity space that is able to recognise a client needs and has the agility to react, innovate and implement in a very short time frame.”