CFDs Archives - FinanceFeeds

Invast Global Launches 2 New Index CFDs Over the USD Index and Canadian Index

October 1, 2020, 6:07 pm UTC.

Invast Global Launches 2 New Index CFDs Over the USD Index and Canadian Index

The new CFD products are immediately available via API from Invast Global’s trading servers in NY4, LD4, and TY3 as part of our comprehensive Index & Commodity CFD offering. These additions bring the total suite of Index and Commodity CFDs to 26.

Invast Global plans to launch even more instruments in the coming months, with the objective of pricing 30 CFDs by the end of the year.

James Alexander, Chief Commercial Officer of Invast Global, said: “These additional products represent the latest update in our plans to offer the most comprehensive suite of cash index and commodity products available.”

Our new product rollout is largely driven by demand from our client base and we will always look to respond to this demand with the strongest possible institutional quality API pricing and execution for any new product we bring to market.

There are no additional monthly market data fees associated with the two new Index CFDs. View live pricing of all Invast Global’s CFDs here.

Invast Global’s updated CFD Specifications are available to view and download here.
If you are interested to find out more about this exceptional CFD liquidity, please contact the Prime Services team +61 2 9083 1333 or [email protected]

April 8, 2020, 11:00 am UTC.

TraderEvolution Integrates Trading Central’s Analytics & Research

Multi-market trading platform provider TraderEvolution has just announced yet another milestone for the company’s rapidly evolving product suite. The team successfully completed an integration with Trading Central – a leading provider of automated financial markets analytics and research.

The move underscores another milestone in the mission of TraderEvolution as a leading trading platform provider. The company’s goal to deliver a practical solution tailored to the different needs needs of different types of financial market participants.

The addition of Trading Central compliments the company’s already material lead in the industry as a flexible modular trading platform that enables brokers to gain access to multiple markets. With support for forex, CFDs, equities, ETFs, options, and bonds, TraderEvolution is enabling every broker using the solution to be a true multi-asset provider.

With this integration TraderEvolution’s clients also gain access to the Analyst Views brief, where Trading Central is delivering actionable technical analysis trading plans compiled by the firm’s experts in tandem with proprietary automated algorithms.

Commenting on the partnership with Trading Central, the CEO and co-founder of TraderEvolution, Roman Nalivayko said: “Our integration with Trading Central is another step towards achieving our end-goal with TraderEvolution – to deliver the most powerful multi-market platform on the market.”

“The flexibility of our offering enables every adopter of our technology to stand out from the crowd. With the latest partnership with Trading Central, we are adding a key research and analysis tool that traders worldwide have come to rely on,” Nalivayko elaborated.

“Here at Trading Central, we’re proud to support confident trade decisions through innovation. That’s why we’re excited to launch our new technology partnership with TraderEvolution,” said Alain Pellier, CEO and co-founder of Trading Central.

“Their end-to-end brokerage solution is a natural fit for our Analyst Views research tool, making actionable technical analysis more readily available for leading online brokerage,” Pellier explained.

  • 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

  • About Trading Central

Trading Central is a global leader of actionable, financial market research. Their online broker solutions deliver engaging, actionable insight through an award-winning fusion of proprietary automated AI analytics, beautiful user interfaces, and registered investment adviser expertise. Their patented pattern recognition is constantly scanning the market, providing up-to-date technical, fundamental, economic and sentiment analysis, and market commentary on over 72,000 global instruments. For more information, please visit: www.tradingcentral.com.

November 12, 2019, 7:13 pm UTC.

PrimeXM to Exclusively Host Global Prime Setup with TraderEvolution

PrimeXM is breaking new ground together with Global Prime and TraderEvolution. The long-established partnership between the Australian brokerage and the leading connectivity provider for Forex and CFDs services is expanding into a new setup with one of the hottest startups in the global brokerage industry.

TraderEvolution has been hard at work to deliver its original new product to market and Global Prime is one of the first brokers to integrate the trading platform. The partnership will be focused on the institutional side of the business of the Australian broker, and PrimeXM will exclusively provide the setup for integration via its infrastructure in New York and London.

The server setup located at the Equinix NY4 and LD4 locations will include Production, Disaster Recovery and Demo environments. With its robust offering, PrimeXM has continuously been one of the most reliable technology providers to the brokerage industry.

“Global Prime has been with PrimeXM for nearly 4 years and has found the technology to be robust with round the clock support for PrimeXM XCore, and MT4 retail trading platforms,” said Elan Bension, Director at Global Prime.

“Consistent uptime and low latency have been at the core of PrimeXM’s offering since its founding. We are proud to have been selected by Global Prime for this setup as we reach yet another milestone in our partnership,” elaborated the Global Head of Sales at PrimeXM Andreas Charalambous.

With the growing importance of delivering a variety of differentiating products, the global brokerage industry is actively looking to diversify its product offering. Commenting on the partnership, the founder and CEO of TraderEvolution, Roman Nalivayko said: “Оur options for platform customization and additional development helped us to meet 100% of Global Prime’s requirements and allowed to build an outstanding offering for the institutional and retail part of their business.”

“PrimeXM is a great choice for us to continue to manage 3rd party platforms such as TraderEvolution under the one umbrella co-located with direct access to our tier 1 and nonbank liquidity” added Bension.

October 10, 2019, 1:45 pm UTC.

Invast Global partners with Cboe for global market data

Invast Global has recently launched a fully integrated API solution for brokers incorporating both market data and exchange execution for thousands of Single Stock CFDs. This offering provides clients with live exchange pricing and leveraged, long/short execution capability via Direct Market Access (DMA), to some of the world’s most liquid CFD markets. The offering utilises Cboe market data for U.S. and European equities.

James Alexander, Invast Chief Commercial Officer notes, “The CBOE Equities Data packages offer outstanding value not just for us as data vendor and the point of execution, but also for our broker clients. The fact that non-professional consumers of the data can access US and pan-European exchange data with no monthly access fees means that our Broker clients are able to disseminate this product to their customers in a much more cost-efficient way than has previously been possible. Ultimately this allows for brokers to distribute a more diversified range of products to more clients – which is a great result”.

The delivery of an integrated data and DMA execution solution for CFDs is aided by the provision of full operational and technology support functions to reduce the operational burden for our clients. Market data reporting is also streamlined, with Invast acting as the vendor of record to our broker clients. “We feel that providing a streamlined offering including data distribution, DMA execution, ongoing corporate action support, infrastructure set-up and market data reporting is a huge step forward in bringing genuine multi-asset trading capabilities to our broker clients. This diversification should allow them to grow their businesses, even in the face of an evolving regulatory landscape.”

Invast Global is a provider of Prime Brokerage Services globally, allowing brokers, asset managers and hedge funds access to execution, clearing and custody services across a range of global markets in Equities, ETFs, Futures, Foreign Exchange and Precious Metals.

March 20, 2019, 11:51 am UTC.

Dukascopy adds new soft commodities for live trading

Dukascopy keeps its promises and launches 3 new soft commodities (Coffee, Cotton, Orange Juice) as it was announced on the 26th of February 2019.

Total list of soft commodities available for Dukascopy traders is following:

  • Coffee (COFFEE.CMD/USX)
  • Cotton (COTTON.CMD/USX)
  • Orange Juice (OJUICE.CMD/USX)
  • Cocoa (COCOA.CMD/USD)
  • Sugar (SUGAR.CMD/USD)

At Dukascopy Bank the maximum leverage is 1:30 for the new commodities, for Dukascopy Europe account holders a leverage of 1:10 is applied.

Dukascopy continuously expands its list of trading instruments to meet customer’s requests.

February 11, 2019, 4:43 pm UTC.

INFINOX Partners with Gold-i for Liquidity Distribution through Matrix Net

INFINOX has joined the Gold-i Matrix NETwork, signing an agreement for its multi-asset liquidity to be available through Gold-i’s technology.

The FCA regulated FX and CFD broker’s decision to extend its liquidity distribution through a partnership with Gold-i was driven largely by demand from its clients wanting to access its liquidity using Gold-i’s technology. With Matrix Net, INFINOX’s liquidity will be available to brokers worldwide that use Gold-i’s Matrix (multi-asset liquidity management platform), MT4 Bridge and MT5 Gateway.

Jay Mawji, Managing Director, INFINOX

According to Jay Mawji, Managing Director, INFINOX, “INFINOX is excited to be integrated with Gold-i and to be able to offer pricing through Gold-i’s Matrix Net. This is an important relationship that will allow clients to tap into our liquidity offering through market leading technology.

INFINOX’s growth has been built on key relationships and Matrix Net gives us the tools to develop and build further relationships.”

Tom Higgins, CEO, Gold-i

Tom Higgins, CEO, Gold-i adds, “We continue to add value to our clients by offering the very best liquidity in the market at the best prices. We are therefore delighted that INFINOX has chosen to distribute liquidity through Matrix Net.”

This latest development from INFINOX is a key part of its continued growth strategy. The firm reported a doubling in revenue in the fiscal year ending 2018, making it one of the fastest growing brokers in the UK. It has ambitious plans to diversify its product offering in 2019 and broaden its geographical reach. Authorised and regulated by the FCA, INFINOX is an internationally recognised broker, specialising in FX, CFDs, indices and commodities. For more information, visit www.infinox.com

Matrix Net is an extension of Gold-i’s multi-asset liquidity management platform, Matrix. Gold-i Matrix offers multiple routing and aggregation methods, leveraging connections with over 70 Liquidity Providers. It is super-fast and highly flexible, helping brokers worldwide to make more money and reduce risk.

For further information please visit www.gold-i.com

December 18, 2018, 11:41 am UTC.

Saxo Bank acquires ordinary shares in BinckBank

Reference is made to the joint press release by Saxo Bank and BinckBank regarding the announcement of the recommended all-cash public offer for all BinckBank shares (the Shares) dated 17 December 2018 (the Offer).

Pursuant to the provisions of Section 5 paragraphs 4 and 5 of the Decree, Saxo Bank announces that today Saxo Bank conducted transactions in ordinary shares of BinckBank or securities that are convertible into, exchangeable for or exercisable for such shares, the details of which are stated below.

The highest price per BinckBank ordinary share paid in a transaction conducted on 17 December 2018 was EUR 6.18 per ordinary BinckBank share.

Following the transactions set out above, Saxo Bank and its affiliates acquired a total of 518,503 ordinary shares in BinckBank, representing 0.77% of the issued share capital of BinckBank and 0.78% of the issued and outstanding share capital of BinckBank.

To the extent permissible under applicable law or regulation, Saxo Bank and its affiliates may from time to time after the date hereof, and other than pursuant to the intended offer, directly or indirectly purchase, or arrange to purchase, ordinary shares in the capital of BinckBank, that are the subject of the Offer. To the extent information about such purchases or arrangements to purchase is made public in the Netherlands, such information will be disclosed by means of a press release to inform shareholders of such information, which will be made available on the website of Saxo Bank. In addition, financial advisors to Saxo Bank may also engage in ordinary course trading activities in securities of BinckBank, which may include purchases or arrangements to purchase such securities.

December 17, 2018, 9:42 am UTC.

BinckBank and Saxo Bank agree on recommended all-cash public offer for all BinckBank shares

BinckBank and Saxo Bank have reached a conditional agreement on a recommended all-cash public offer of EUR 6.35 (cum dividend) per issued and outstanding ordinary share and priority share of BinckBank representing a total consideration of EUR 424 million.

The offer price represents a premium of 35% over the closing price of 14 December 2018, and a premium of respectively 42%, 43% and 38% over the average volume weighted price per share over the last one, two and three calendar months, delivering immediate, certain and significant value to BinckBank shareholders.

  • The transaction was unanimously supported and recommended by BinckBank’s executive board and supervisory board.
  • Saxo Bank has committed financing in place and will fund the transaction via a combination of equity injections by its shareholders and cash at hand.
  • The parties have agreed to certain non-financial covenants for BinckBank stakeholders for a period of three years.
  • Draft offer memorandum will be submitted to the AFM no later than end of Q1 2019.
  • It is anticipated that the offer will close in Q3 2019.

BinckBank and Saxo Bank announce today that a conditional agreement (the Merger Protocol) has been reached on a recommended public offer (the Offer) to be made by Saxo Bank for the entire issued and outstanding share capital of BinckBank (the Shares) for EUR 6.35 in cash per share (cum dividend) (the Offer Price).

This announcement follows constructive interactions between the boards and management teams of both companies including a period of targeted due diligence.

For more than 25 years, Saxo Bank has strived to democratize trading and investment. The combination of BinckBank and Saxo Bank will help accelerate this ambition, achieve necessary scale and facilitate the strategic response of both companies to current market dynamics. The interests of all stakeholders of Saxo Bank and BinckBank have been carefully taken into account. The merger benefits from the two parties’ complementarity in geographic footprint, product offerings, and customer bases, covering the full retail client spectrum from mass retail to high-end. The combined entity is committed to continued significant investments in technology, thereby allowing it to remain at the forefront of innovation while adapting to changing customer behaviour.

Kim Fournais, CEO and founder of Saxo Bank:

“Combining BinckBank with Saxo Bank is a true win-win for all parties. Clients will get better products, prices, platforms and services, employees will benefit from enhanced career opportunities and, importantly, we will gain the necessary scale to further step up investments in technology and in our people. As the investment and trading industry matures and faces new regulation as well as rising expectations for digital client experience, scale, technology and multi-asset capabilities become increasingly key to long-term success.

We have a strong cultural fit with BinckBank based on a shared vision and purpose to democratise investment and empower everyone to take control of their financial destiny. Our two companies complement each other well in terms of geographical footprint, brand, client segments, product suite and not least in the talented employees of both companies.”

Vincent Germyns, chairman of the BinckBank executive board:

“Since the origins of BinckBank in 2000, we have managed to build a strong position. We have become market leader in the Netherlands and Belgium and are strong challengers in France and Italy. We are confident that by combining BinckBank with Saxo Bank, we will be able to further strengthen our offering and growth in these markets. As such, it is important to note that Saxo Bank shares both BinckBank’s vision and mind-set focused on giving investors access to financial markets through technology and innovative solutions. Therefore, the combination of BinckBank and Saxo Bank is a natural fit and secures the future growth of BinckBank within a bigger and stronger organization and provides our customers with an even broader range of innovative products and services in the area of trading and investing.

Merging both companies will help realize important economies of scale. On a term of two to three years, this will of course have consequences for staff. As far as possible these consequences will be met through natural staff turnover. In case of redundancies, a good severance scheme will apply. The executive board, supervisory board and works council support this severance scheme unanimously.”

John van der Steen, chairman of the BinckBank supervisory board:

“Talks with Saxo Bank have given us much trust in the combined future. BinckBank and Saxo Bank are quite similar companies with shared passions, ambitions and values. A combined future will strengthen our position in the European market and increases our added value to our customers. The Boards believe this transaction puts BinckBank in a stronger position going forward. The proposed transaction is the result of extensive negotiations between BinckBank and Saxo Bank over a period of several months and a shared vision for the combination going forward. The combination of a very attractive cash price, deal certainty, and strong protection of stakeholder interests through the non-financial covenants leads the boards to unanimously recommend this transaction.”

Strategic rationale

The online trading and investment sector is currently facing multiple challenges including challenging competition, increased regulation, low interest rates, considerable technology investment requirements and changing customer behaviour. Such dynamics necessitate pro-active and decisive strategic actions. Scale, diversification, state of the art technology, relentless customer focus and multi-asset capabilities are becoming ever more important to deliver customer and shareholder value.

Both parties believe that the combination of BinckBank and Saxo Bank (the Combination) represents a powerful response to market dynamics and has a number of strategic benefits including:

  • Strong cultural fit with a shared vision of democratising trading and investments and a philosophy centered around customer service, transparency, simplicity and innovation;
  • Excellent complementarity in geographic footprint, product offerings, and customer base, covering the full retail client spectrum from mass retail to high-end;
  • Combination of Saxo Bank’s industry leading technology platform and product suite with BinckBank’s large customer base and strong distribution capabilities;
  • More balanced revenue mix for the combined company balancing net interest income, fee & commission income and spread income;
  • Enhanced scale economies at a time of rising technology investment requirements and regulatory costs;
  • Enhanced career opportunities for employees in a larger, modern and digitally oriented, international financial services group.

Transaction details

The proposed transaction envisions the acquisition of the Shares pursuant to a recommended public offer by Saxo Bank. The Offer Price per Share represents an implied equity value for 100% of BinckBank on a fully diluted basis of EUR 424 million.

The offer price represents a premium of 35% over the closing price of 14 December 2018, and a premium of respectively 42%, 43% and 38% over the average volume weighted price per share over the last one, two and three calendar months, delivering immediate, certain and significant value to BinckBank shareholders.

The Offer Price is cum dividend.

Fully secured transaction financing

Saxo Bank will finance the Offer from its available cash resources and through equity financing of EUR 100 million. As such, Saxo Bank has received binding equity commitment letters from Fournais Holding A/S, Geely Financials Denmark A/S and Sampo Plc for an aggregate amount of EUR 100 million, which are fully committed.

November 9, 2018, 7:20 am UTC.

AxiCorp launches Axi-One – Offering Access to 7 ECNs Through a Single Interface

Australian-owned Forex (FX) and Contracts For Difference (CFD) trading provider AxiCorp has strengthened its presence in the prime brokerage space with the launch of Axi-One.

Aimed at institutional as well as individual traders, Axi-One is a powerful platform that gives users a wide choice of trading venues from one terminal.

Axi-One is the newest addition to the AxiPrime offering that will service a much wider group of users including professional traders, institutional traders, high net-worth and high-frequency traders.

With direct access to more than 20 liquidity providers, Axi-One also provides a seamless and integrated access to 7 exchanges with their corresponding liquidity providers. The major exchanges include Currenex, Hotspot, Fastmatch, SpotStream, FXall, LMAX and 360T.

“We’ve put in a lot of effort, time and technology behind Axi-One as we want to deliver a leading-edge platform that is extra efficient and robust for our clients,” said Lloyd Moncur, Co-Head of Institutional EFX and CFDs at AxiCorp in the UK.

He added: “With Axi-One we’re giving traders the full flexibility and the widest choice of liquidity. Whether you’re a private or institutional trader, a high-frequency trader or an MT4 user you can access different liquidity pools that will suit your requirements.”

In addition, Mr Moncur said: “With Axi-One we have listened to our clients and developed a platform that gives access to seven ECNs plus our own pool of liquidity. For example, a trader might prefer liquidity in London hours on FXAll but may choose to go with Hotspot for the NY (CBoE) session.

One trader might prefer to trade EURUSD on Currenex but prefer USDJPY on Fastmatch. With this platform we feel we are empowering the trader to make their own choice all from one platform.”

According to Mr Moncur real estate on a desk top is one of the biggest problems for traders, so by providing one access point for seven exchanges, Axi-One is solving this solving this problem.

One of the unique capabilities of Axi-One is the ability for traders to pick and choose their own liquidity pools. This means traders can get access to tailor-made and user-specific liquidity levels at all time.

Built in partnership with leading IT company Celer Tech, Axi-One provides true ECN aggregation and execution capabilities.

“We’ve consulted and gathered information from a wide range of users – from institutional, high-frequency and other professional traders – and used that information to come up with Axi-One, which we believe is one of the most powerful and technology-driven platforms in the market now,” Daniel Beale, Co-Head of Institutional EFX & CFDs at Axicorp in the UK.

Ben Cuthbert, CEO at Celer Tech, said: “We are thrilled to have the opportunity to serve AxiCorp. Strategically our objectives are very well-aligned. Our ability to quickly incorporate new functionality into the AxiCorp’s platform is further proof of the flexibility of our capabilities.”

Rob Wing, Global Head of Sales at Celer Tech, also said: “We have an excellent relationship with AxiCorp and have worked very closely with them and their highly experienced team to implement a solution, that supports their strategic goals.

Aside from its wide range of liquidity providers, Axi-One is a multi-asset platform where traders can trade FX, CFDs, spread betting, metals, indices and NDFs.

Over the past two years, AxiCorp has invested heavily in technology as it rolled out advanced platform capabilities across its global footprint.

October 26, 2018, 12:40 pm UTC.

Tradimo Launches Derivatives Nanodiploma Certified by Deutsche Börse

Online financial education specialist, Tradimo has created a Derivatives Nanodiploma™ which prepares its graduates worldwide for the Deutsche Börse “Certified Derivatives Trader” exam – a prestigious derivatives qualification which is recognised by the FCA, amongst other leading industry bodies.

The course, certified by Deutsche Börse, is aimed at any individual wishing to gain a professional qualification in derivatives as well as back office, dealing desks and management at banks and brokers worldwide who wish to enhance their knowledge about this asset class in order to maximise relevant business opportunities.

The comprehensive Derivatives Nanodiploma™ by Tradimo uses a mixture of online tutorials and videos, animations, Q&A webinars, interactive quizzes and practical projects across 110 different modules, with topics ranging from forwards, swaps and options through to risk management and regulation. The course is taught by experienced derivatives instructors including Gerhard Bauer, Head of Deutsche Börse Capital Markets Academy from 2009 to 2017.

Having completed Tradimo’s online programme – which can be done to the participant’s own time frame – course graduates have the option to take the world-renowned “Certified Derivatives Trader” exam at a Deutsche Börse office. Graduates with this qualification can be registered as a trader for a Eurex member company.

Tradimo has developed this online course to bridge the gap between the academic and the practical world. It has the power to transform a student from a novice in this area to becoming a proficient derivatives professional.

Sebastian Kuhnert, Founder and CEO, Tradimo comments, “We are thrilled to get our online course certified by Deutsche Börse. This is the first e-learning programme in the world that can be done fully online which also gives graduates the permission to take the final exam at one of the Deutsche Börse’s offices around the world to gain the most respected qualification for derivatives professionals worldwide. It is the most elite programme Tradimo has ever offered and we are very proud of the advanced e-learning tools we have developed for this course. Our collaboration with Deutsche Börse opens up significant opportunities for Tradimo’s course graduates, equipping them with the skills and qualifications required for key positions at brokers, hedge funds, asset management firms and investment banks.

“As our business evolves, we hope to replicate this certified model with other leading financial organisations. Our ultimate aim is to make the very best trading education accessible to individual traders and financial institutions worldwide, equipping our graduates with recognised qualifications which enhance their employability.”

Through its online trading school, Tradimo has educated over 4 million people about all aspects of the financial markets in English, German, Russian, Arabic and Chinese. The Danish-based company has consolidated a number of its courses into Nanodiplomas™ to provide a comprehensive e-learning experience which enables graduates to master key topics about trading and investment.

Tradimo’s Derivatives Nanodiploma™ is available in English and German and is also available with Chinese subtitles. To register for the course or for further information, visit https://go.tradimo.com/nanodiplomas/certified-derivatives-trader/executive or email [email protected]

Photo: Sebastian Kuhnert, Founder and CEO, Tradimo.

October 23, 2018, 2:01 pm UTC.

Saxo Bank expands tradeable CFD universe with the launch of a new range of CFD options

Saxo Bank, the online trading and multi-asset specialist, has today announced that it will begin to offer CFD Options on a range of option roots, covering puts and calls on 15 of the world’s largest stock indices.

The new product will be available on SaxoTraderGO (all devices) and SaxoTraderPRO for clients of Saxo Bank A/S as well as those in the United Kingdom, Singapore, and Australia.

CFD Options are OTC instruments based on Exchange Traded Index Options. They can help diversify a portfolio, as not only do they enable clients to take a position, they can be used for portfolio hedging purposes too.

Commenting on the launch, Magnus Sundby, Product Manager – CFD & Equities, said:

“This new product range will lower the entry barrier for clients looking to trade options, as CFD options reduce the cost of trading for clients by giving them access to cost-effective investment and hedging strategies as well as tools to help them manage the risk. Compared to traditional Listed Options, the CFD Options will also provide clients with greater flexibility in terms of contract size, since the lot is equal to one Index. By lowering the size of the contract, we allow more clients to trade Index Options, and enable them to manage their risk more efficiently – yet another example of how we continue to democratise trading and investing.”

CFD options are attractive for traders and investors as there is no spread mark-up and commission required when buying CFD options – clients simply pay a premium up front. And as one lot equals one index, they provide great flexibility in terms of contract size.

All new CFD Options are European style options that are cash settled at the official settlement price and clients can use the new instrument type to place directional bets by buying Puts or Calls.

With the product, clients will be able to create option strategies that will protect their existing portfolio against market risk.

More detail on Saxo’s CFD Options offering can be found here.

October 10, 2018, 1:19 pm UTC.

Ayhan Gurcuoglu Joins Stater Global Markets from Sucden Financial

Ayhan Gurcuoglu has been appointed by Stater Global Markets as Regional Sales Manager (Turkey). He joins from Sucden Financial, where he was also Regional Manager for Turkey.

With over 18 years’ experience in the Turkish financial markets, Ayhan brings significant expertise to Stater. In addition to three years at Sucden Financial, he was at Sanko Securities for five years, where he progressed from Financial Dealer to Foreign Markets Assistant Manager and was instrumental in building up the organisation’s FX and CFD departments. His career history also includes working at Tera Brokers and at Raymond James, which at the time was one of the leading brokerage houses in Turkey.

Ayhan’s appointment is the third newly created sales role announced by Stater over the last month, reinforcing the FCA regulated Prime of Prime’s ambition as it continues to expand globally. Max Moriarty, formerly at FIXI plc, was announced as the first member of Stater’s sales team, followed by Michael Davies who has joined as Global Head of Sales, also from Sucden Financial.

Ramy Soliman, CEO, Stater Global Markets says, “Turkey was a key market for me when I was at Citi and is an important region for Stater. We are therefore delighted to welcome Ayhan to our team. Ayhan is highly respected by banks and brokers in the region and has an in-depth understanding of their requirements and business culture. I believe we will benefit significantly from his experience and contacts.”

Ayhan Gurcuoglu adds, “I was very excited when Ramy approached me about this role. The technical infrastructure which is in place at Stater and the calibre of the team makes it an exciting company to work for, with a very promising future. From my network, I believe there is a lot of business potential for Stater in Turkey, and I feel confident that Stater’s bespoke solutions and transparency meet the exact needs of brokers and banks in the region.”

Stater Global Markets is an FCA regulated Prime of Prime brokerage which offers institutional clients direct access to Tier 1 bank and non-bank liquidity, clearing and institutional grade technology. The London-based firm is a wholly owned subsidiary of SBL Holdings Limited.

October 4, 2018, 11:01 am UTC.

Former Head of eFX Sales at Sucden Financial Joins Stater Global Markets

Michael Davies has been appointed Global Head of Sales at Stater Global Markets, joining after over 14 years at Sucden Financial where he was Head of eFX Sales EMEA and was instrumental in establishing and growing Sucden’s eFX business.

This newly created role at Stater Global Markets is a major development for the FCA regulated Prime of Prime brokerage. Stater announced plans to build a sales function last month, with the first appointment being Max Moriarty in EMEA sales who joined in September 2018 and will report directly into Michael.

Michael Davies brings extensive industry experience to Stater, where he will be responsible for global sales and managing a growing sales team. He joined Sucden Financial in 2004 as a Research Analyst before becoming Head of Research in 2007. Following a two year period as Manager of Corporate Strategy and Business Development, he joined the eFX team in institutional sales in 2011 and was promoted to Head of eFX Sales EMEA in April 2016.

Ramy Soliman, CEO, Stater Global Markets comments, “Michael’s appointment is a significant milestone for Stater – he is a well-respected and knowledgeable senior sales person with an extremely versatile skillset and brings a wealth of institutional insight to Stater. We are thrilled he is joining. This appointment highlights our underlying ambition for Stater Global Markets as we continue to invest in the business and expand globally.”

Michael Davies adds, “After almost 15 years at Sucden Financial, helping them grow from being an unknown in FX PB to a well-respected firm trading yards and yards a day, I felt like I needed a new challenge. Stater presented me with the ideal opportunity – a global role in a young, dynamic, ambitious firm which has FX at its core and is eagerly looking at complimentary products like Crypto CFDs.

“Stater Global Markets fits my ethos of exactly what an ethical FX Prime of Prime brokerage should be; working for their client, not against them. There are key conflicts of interest with many Prime of Primes, whether it be competing with their clients for business, trading against their clients to profit from their losses, or being owned by a Liquidity Provider. I am not comfortable with this mode of operating and feel that Stater, which has no inherent conflict of interest, stands out in this industry. Its independence, the calibre of its team – from the shareholders to senior management – and the impressive speed at which it has been able to implement institutional grade technology to provide credible liquidity solutions in both NY4 and LD4, all make this an exciting opportunity for me.”

Stater Global Markets is an FCA regulated Prime of Prime brokerage which offers institutional clients direct access to Tier 1 bank and non-bank liquidity, clearing and institutional grade technology. The London-based firm is a wholly owned subsidiary of SBL Holdings Limited.

October 4, 2018, 9:17 am UTC.

OANDA Corporation acquires GFM Solutions Group

Online multi-asset trading services and currency data and analytics expert, OANDA has acquired GFM Solutions Group, a well-known risk management and financial reporting company offering cutting-edge software that enables corporate treasury, accounting and finance teams to better manage the impact of currency-related exposure in their business. The purchase marks the first acquisition OANDA has made since being bought by CVC Capital Partners (CVC) Asia Fund IV in May 2018 (subject to regulatory approvals) and will further build on OANDA’s existing corporate FX solutions, helping treasurers and finance directors mitigate currency risk and optimise efficiencies.

Vatsa Narasimha, CEO and President of OANDA, commented, “OANDA’s data and analytics business is one of our key business divisions, already well established as the pre-eminent source of currency data for world-leading institutions and corporations. The acquisition of GFM complements our existing currency data offering by providing a comprehensive analytics solution that enables corporate clients to effectively manage their currency exposure.”

GFM is the first in a number of strategic acquisitions that OANDA is looking to complete in the next 18 months following the change of ownership to CVC Capital Partners. Managing Partner of GFM, Charles Brobst will join OANDA as Managing Director of the firm’s Analytics division. He commented on the deal, “Trusted for accuracy and reliability by some of the world’s leading top audit firms, multinational corporations and tax authorities, OANDA’s currency data is widely regarded as the gold standard, so it made perfect sense for the GFM team to join forces in order to help clients reduce currency exposure and mitigate risk. We’re very much looking forward to working together over the coming years.”

GFM offers a host of financial risk advisory software as a service (SaaS) solutions including exposure measurement and management, hedge accounting and financial reporting, financial instrument valuation and regulatory compliance and risk management policy implementation. These automated solutions ensure the ready-auditability of client data and processes and help reduce risk associated with key employees. GFM’s software also helps improve organisational communication and transparency while creating a means to monitor policy, accounting and regulatory compliance.

September 28, 2018, 1:48 pm UTC.

Tradesocio Announces Partnership with JFD Brokers

Leading fintech services provider, Tradesocio, has announced a partnership with JFD Brokers, an EU-regulated brokerage that has won over 40 international awards over the past seven years. JFD Brokers leverages the latest technology and business transformations globally to offer its clients world-class investment choices.

Established in 2015, Tradesocio has carved a niche for itself with its cutting-edge fintech solutions. The company offers a unique, tech-based investment ecosystem that brings together the various players in the financial markets. The platform offers brokers, fund managers, investment banks, introducers and investors a safe ecosystem in which to connect and access just the right tools for investment.

Over the past 12 months, Tradesocio has enjoyed an incredible growth journey, not only in terms of client acquisition, but also in product development and global expansion. Currently, the company powers 30+ brokerage houses, with over US$384 million in funds and US$276 billion in trade volume by over 45 thousand investors worldwide.

Through its new partnership with JFD Brokers, investors will be armed with top strategies in their portfolio, which can be automatically implemented through the JFD Invest offering.

Both Tradesocio and JFD Brokers are committed to amplifying investments through transparent services and the latest technological advancements in the financial industry.

Wael Salem, CEO of Tradesocio, stated “Our services can be tailor made for specific needs, while the entire process can become extremely convenient for all users. As we move forward, businesses that are unable to provide customised, tech-based solutions run the risk of failure.”

Mr. Salem went on to say that fintech innovations not only benefit investors, but also put the right tools in the hands of service providers. With the fintech revolution, healthy competition will exist between market players, resulting in a thriving financial sector.

Through effective partnerships like the one with JFD Brokers, Tradesocio aims to take this fintech revolution to different parts of the world. Throughout 2018-19, Tradesocio aims to expand its global operations to cities like London and Dubai. It has also been busy recruiting new employees in its offices across Singapore, Mumbai, Delhi, Chennai and Cyprus. New products and solutions are also in the pipeline, which will create a stir in the financial sector.

“We want to physically meet and greet clients and potential clients. We want to talk to them, understand their business model and discuss the potential of introducing fintech, which is why our team is spending a lot of time on the ground at expos, seminars, and various shows and events,” CEO Wael Salem added.

The company looks forward to welcoming more brokers, hedge fund managers and investment houses within its ecosystem. To learn more about fintech solutions and to arrange a meeting with the Tradesocio team, visit tradesocio.com.

September 17, 2018, 8:36 pm UTC.

Spreads from 0.1 and USD50/million commission with OANDA’s core pricing model

Multi-asset trading services and currency data and analytics provider OANDA has introduced a new pricing model in Singapore that enables clients to access spreads from as low as 0.1 with a flat-rate commission of USD50 per USD1 million traded on more than 70 currency pairs. Designed to reduce spreads when trading forex, core pricing is available to all OANDA clients upon request.

Throughout our 22-year history, OANDA has enjoyed a reputation for transparency, offering a spread-only pricing model with no commission, however in recent months, our clients have increasingly expressed a desire for core spreads. Created in direct response to this demand, we are pleased to introduce our new core pricing option, which enables clients to trade on our institutional-grade platform with extra tight spreads while continuing to benefit from our fully-automated execution with no requotes and no rejections,” said Kazuake Takabatake, Managing Director of OANDA Asia Pacific.

The introduction of OANDA’s core pricing provides greater flexibility, allowing traders to choose between the firm’s traditional spread-only pricing model and a new reduced spread with a fixed commission charge.

Takabatake further commented, “A sophisticated market, Singaporean traders are constantly on the lookout for tighter spreads. As such, we believe OANDA’s new pricing model clearly demonstrates our ongoing commitment to addressing the needs of our clients.”

For more information on OANDA’s core pricing with commission model, please click here.

August 1, 2018, 7:23 am UTC.

Former Marex Spectron executive Julian Courtney to Join ATFX’s Board of Directors

Julian Courtney, a Chartered Accountant with over two decades of financial service experience, is set to join ATFX (UK)’s Board of Directors as a non-executive director.  He currently works as an independent Compliance consultant, and sits on the board of another FCA regulated broker.

Mr. Courtney’s role within the company will involve oversight and independent advice to the Board on matters related to finance, compliance, and governance, a crucial role given the rapid expansion of ATFX around the world.  A leading online global trading company, the ATFX group has entities regulated by CySEC and FSRA among others. It’s UK entity, AT Global Markets, was set up in 2015. In terms of ATFX UK leadership, Mr. Courtney is set to join its CEO, Richard Craddock, who is the former Chief Trader at MF Global.

Mr. Richard Craddock states, “ATFX looks forward to Julian leading the company to establish a strong footprint in the Europe. The company has already created a niche for itself in Europe, with its cutting edge online trading platform and excellence in customer support. ATFX believes that Julian is the right person in this position, given he has more than a decade of experience in the financial arena.”

Prior to working with ATFX, he has held positions as the Global Head of Compliance & Legal at EDF Man, the Chief Operating Officer at Aviate Global, and the Global Head of Compliance and Legal at Marex Spectron.  

Mr. Courtney has been a member of the FCA Commodities Steering Group and the Compliance and Anti-Money Laundering Committees of the UK Futures and Options Association (FOA).  He has extensive knowledge of MiFID I & II, FCA, CFTC, NFA, DFSA, SFC, and BaFin regulations.

Disclaimer: 88% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Legal: AT Global Markets (UK) Limited is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom. FCA registration number (760555). Registered Office: 1st Floor, 32 Cornhill, London EC3V 3SG, United Kingdom. Company No. 09827091

July 2, 2018, 10:57 am UTC.

Playtech posts trading update

Playtech has earlier today posted a trading update.

  • B2B Gaming division

The key trends reported at the Annual General Meeting in May 2018 have continued.

Average daily revenue year to date excluding Asia (on a constant currency and ex-acquisition basis) are up 7% vs the same period last year and up 12% in Q2 2018 vs Q2 2017.

As previously reported, average daily revenue in Asia continues to be impacted by an increasingly competitive backdrop. Towards the end of the first half, this market has seen a particularly aggressive pricing environment from new entrants to the market and this has impacted revenue. The management team continues to take steps to protect Playtech’s position in the region and to drive revenue generation. However, given the recent decline and in the absence of any change in market dynamics, the Group expects a significant impact on revenue throughout the rest of the year.

  • B2C Gaming division

The B2C Gaming Division is performing in line with expectations with the Sun Bingo contract continuing to see some revenue improvement and negotiations with News UK ongoing.

  • Tradetech

TradeTech Group’s reported good start to 2018 has continued, with the B2B division delivering a strong performance in line with management’s strategy communicated at the recent TradeTech investor day held in May.

  • Acquisition of Snaitech

Playtech completed the acquisition of 70.6% of Snaitech on 5 June 2018. As a result, Snaitech’s results have been fully consolidated into Playtech’s group accounts with effect from this date and will contribute to Playtech’s interim results.

Playtech has subsequently acquired a further 10.8% of Snaitech’s issued share capital and has launched the mandatory takeover offer for the remaining shares of Snaitech not already owned by the Group.

As Snaitech currently remains a separately listed company, it will provide any update on its trading separately. However, Playtech believes the increased activity due to the FIFA World Cup and general strength in the Italian gaming market is encouraging for the current period.

  • Sale of holding in GVC Holdings plc

As part of the continued improvement in capital structure and balance sheet efficiency, Playtech sold its 3.4% stake in GVC Holdings plc (“GVC”) on 7 June 2018. Net proceeds of €222 million will be accounted for within the Group’s cash balances on the interim balance sheet date of 30 June 2018, having previously been held as an available for sale asset.

Together with the proceeds received from the sale of shares pursuant to the takeover of Ladbrokes Coral plc (“Ladbrokes”) by GVC, the disposal is expected to lead to a one-off credit to Playtech’s profit & loss account of approximately €42 million in H1 2018.

  • Outlook

Playtech will announce its interim results for the six months ended 30 June 2018 on 23 August 2018. Given the downturn in Asia came towards the end of the period together with the strong performance from Tradetech in the first half, Playtech’s H1 2018 group performance is broadly in line with its expectations at the start of the year.

Looking to the remainder of the year, the current run rate in Asia is materially below both the average in H2 2017 and the average which was expected for H2 2018 at the start of the year. If the current run rate in Asia continues unchanged for the remainder of 2018, including no material improvement in Malaysia, Playtech’s expected revenue from Asia will be c. €70 million lower than original expectations. Given that the downturn in Asia has been relatively sudden and taking into account Playtech’s centralised cost base, the vast majority of this revenue loss will drop through to adjusted EBITDA.

Consolidating Snaitech from June 2018 will contribute c. €80 million of adjusted EBITDA to Playtech’s group forecasts for 2018, based on Snaitech’s current market consensus.

Taking into account all of the above, including the consolidation of Snaitech and specifically taking into account the uncertainty in Asia, Playtech now expects group adjusted EBITDA for 2018 in the range of €320 million to €360 million. This excludes the €42 million one-off gain in 2018 relating to the sale of shares in Ladbrokes and GVC which will not impact adjusted EBITDA but will increase adjusted EPS.

Mor Weizer, CEO, said: “Clearly the recent trading performance in Asia is disappointing. We have taken steps to further support our partners in the region and we will continue to work to preserve our position in the face of an increasingly competitive environment.

“In line with our stated strategy, progress in fast-growing, regulated and soon to-be-regulated markets continues apace. Momentum in key regulated markets continued in the first part of 2018 with new agreements with Gala Leisure in the UK, SAS in Portugal and Totalizator, the Polish national lottery. Additionally, regulatory developments in the US represent a significant opportunity for the Group. The organic growth reported in the non-Asian B2B gaming business combined with the recent acquisition of Snaitech in Italy provides management with confidence that this strategy will materially improve the quality and diversification of Playtech’s performance in 2018 and beyond.”

July 2, 2018, 10:50 am UTC.

Plus500 posts half-year trading update

Plus500 is pleased to announce that due to a strong Q2, the Board has again materially increased its expectations for the Group’s financial performance for the year ending 31 December 2018.

Although, as previously reported, market conditions for trading volumes and new customer acquisition returned to more normal levels in Q2 in comparison with Q1, geopolitical events particularly regarding US import tariffs have resulted in higher than expected levels of market volatility. This has resulted in a strong trading performance in the period.

Following the recent regulatory changes announced by ESMA, due to be implemented by August 2018, Plus500UK and Plus500CY began evaluating their respective customer bases regarding Elective Professional Client (“EPC” status in February 2018 and consider 12 per cent. of its customers in the EEA may be eligible for EPC status. Given that this 12 per cent. generate in aggregate approximately 75 per cent. of the Group’s EEA revenue, the Board believes that the Group’s EPC offering puts it in a strong position to maintain revenue from those customers following the implementation of the new ESMA rules. As previously disclosed, the Group’s performance could be impacted by the rate at which customers request to be reclassified, and are accepted, as elective professional clients.

At the same time, the Group continues to diversify those revenues which are outside the EEA, reflecting its new licences, especially in Singapore, which was gained towards the end of 2017.

Notice of results

The Company expects to issue its half year results for the six months ended 30 June 2018 on 13 August 2018.

Asaf Elimelech, Chief Executive Officer, said:

“Plus500 has performed strongly in the half year period and we are pleased to announce a material increase in expectations for the full year. Despite more normal trading conditions, we continue to benefit from new customers acquired over recent periods trading a wide range of instruments.”