Also, the FCA and CNMV warn against fraudulent companies; XS.com and Barclays appoint new staff.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
GTC Taps
Axi’s Elian Daoud as Chief Operating Officer
Global
Trade Capital (GTC), a Dubai-based online trading provider, has appointed Elian
Daoud as its Chief Operating Officer. Daoud joins the financial services
company after six and a half years at its rival brokerage, Axi where he last
served as the Head of Robotic Process Automation.
Elian Daoud, new Chief Operating Officer at GTC
The senior
executive announced his appointment through LinkedIn today (Monday). He brings about 10 years
of experience in accounting, sales and development roles,
to the job. Apart from Axi, Daoud has worked at Royal Financials, Alfa
Financials and Brooge Forex Brokers.
Meanwhile,
GTC, which is regulated by Vanuatu Financial Services Commission, recently onboarded Jameel Ahmad as the Chief Analyst and
Advisor to the CEO.
ATFX Connect
Pledges Commitment to FX Global Code
ATFX Connect, a
brokerage brand that provides liquidity in spot forex and precious metals
trading to institutional investors, has signed up for the Global FX Code of
Conduct. The London-based broker announced today (Monday) that it has pledged
its commitment to the code.
The code is a set
of principles for good practice in the wholesale forex market. It was developed
in July 2021 through joint efforts between central banks and
industry actors from over 20 jurisdictions around the world.
Speaking on
the development, Wei Qiang Zhang, the Managing Director of ATFX Connect, noted that
the “important step” signifies the brokerage’s expansion within the institutional
electronic forex industry.
HYCM Hires
Axiory’s Dominic Poynter as Chief Marketing Officer
HYCM, the
London-based forex and contracts for difference (CFD) broker that recently rebranded from Henyep
UK, has
appointed Dominic Poynter as its Chief Marketing Officer. Poynter was
previously the Marketing Director at a multi-asset broker Axiory for two years.
Dominic Poynter, new Chief Marketing Officer at HYCM
The
senior executive announced his appointment at HYCM on Monday through a LinkedIn
post. His profile on the professional networking platform shows he started the
Cyprus-based role last month.
Poynter
joined the retail forex and CFD industry in 2010 as a Website Manager at FxPro
Financial Services. Since then, he has served in senior marketing roles at
easyMarkets, ATFX and Axiory.
Deutsche Börse’s
Cash Market Trading Volumes Plunge 16% in June
Deutsche Börse’s cash markets generated a turnover of
€106.02 billion in June. The figures represent a decline of 16% from €126
billion recorded in the same period last year. The numbers, however, did not
change much from €106.54 billion,which was reported in the previous month.
The German capital markets’ equities generated the most
in the cash market of the group at €90.39 billion. The trading in the
Exchange Traded Funds (ETFs), Exchange Traded Commodities (ETCs), and the
Exchange Traded Notes (ETNs) generated €14.06 billion.
Additionally, the turnover for bonds, certificates,
and funds was €0.66 billion, €0.87 billion, and €0.04 billion,
respectively.
Binance Taps Min Lint to Head Latin America
The cryptocurrency exchange, Binance has appointed
Min Lin to head its operations in the Latin American region. Lin will be in
charge of leading teams with a focus on optimizing the products and services of
the exchange.
He joined Binance in 2021 as the Head of Business
Development and previously worked as an Executive Director, Global Markets
Division, at Goldman Sachs. His appointment comes at a time Binance is expanding its educational partnerships and
community outreach in Latin America.
US Dollar LIBOR Panel
Ceases
The US
dollar London Interbank Offered Rate (LIBOR) panel has officially been
discontinued, marking a significant shift in the global financial sector. According
to the UK’s FCA, as of 30 June 2023, the overnight and 12-month US dollar LIBOR
settings have ceased permanently, and the 1, 3, and 6-month US dollar LIBOR
settings are now published in a synthetic form. The LIBOR panel's final
cessation signifies the end of an era in banking, with synthetic LIBOR rates no
longer representative of the underlying markets.
The
synthetic US dollar LIBOR settings, now regulated under the Benchmarks
Regulation, will be calculated based on the relevant CME Term SOFR Reference
Rate along with the respective ISDA fixed spread adjustment until September 2024.
From July 2023,
all new use of synthetic US dollar LIBOR has been prohibited. Major
clearinghouses have since converted cleared derivative contracts as they were previously
referencing the US dollar LIBOR to risk-free rates.
MetaTrader Web Terminals
Move to New Address
Source: MetaQuotes
The web
terminals for both MetaTrader 4 and MetaTrader 5 have relocated from the former
https://trade.mql5.com/trade to the new address, https://metatraderweb.app/trade. MetaQuotes has informed us that support
for the MetaTrader 5 Web version will discontinue from 1 August 2023, while the
MetaTrader 4 Web will persist.
Users of
the old MetaTrader 5 Web terminal are advised to request the new version of
MetaTrader 5 WebTerminal from their brokers. The newer version offers enhanced
functionality and efficiency and is compatible across various platforms, such as on Linux, Mac, iOS, and Android OS.
Unlike the
older version, the new MetaTrader 5 WebTerminal enables a direct connection to
the specific broker, simplifying the login process.
FCA and CNMV Warnings about Unauthorized
Firms
FM, Financial Conduct Authority
The UK’s
FCA has issued new warnings against unauthorized companies, including DEUS,
Diluxmoon, Igenius FX, VELOXTRADES, and Ultranovas. The FCA noted that these
companies are not authorized or registered to provide financial services and
cautioned the public about their activities.
Similarly,
Spain's National Securities Market Commission (CNMV) has warned about
several entities, including EQUIPO JUANFE, SMART+, SBC SMARTFUND LIMITED, and
TRADECENTRIX. According to the CNMV, these entities are not registered in its
registry and, thus are not authorized to provide investment services or other
activities under its purview.
The FCA and
CNMV's warnings highlight the growing need for investor awareness and vigilance
in the financial sector.
ASIC Permanently Bans
David Sutton
The
Australian Securities and Investments Commission (ASIC) has permanently banned a Sydney-based director, David Henty Sutton from providing any financial services.
This decision results from ASIC's concerns arising from Sutton's activities
when offering investment on unlisted shares via his company, McFaddens Securities
Pty Ltd, now known as APC Securities Pty Ltd.
Along with
banning Sutton, ASIC has cancelled the Australian financial services license of
McFaddens Securities. The company was found to have misled investors in
Australia and overseas about investments. This decision underlines ASIC's
commitment to ensuring a fair and transparent financial market.
XS.com Appoints New Business
Development Manager
Joanna Atwi
The retail
trading company XS.com announced yesterday (Sunday) that it has onboarded Joanna
Atwi as a new Business Development Manager for the MENA region.
“I'm
excited to announce that I joined the XS.com family as Business Development
Manager, MENA,” Atwi commented in a LinkedIn post.
In the past,
Atwi worked for ICM.com, where she spent more than five years. Firstly, as
a Business Development Associate and for the last five months as a Business
Development Manager. Previously, she worked for Trust Capital S.A.L as a Sales
Executive.
Barclays Appoints New Head
of TMT
Barclays
has announced the appointment of Akihiko Yamada as the Managing Director and
Head of Technology, Media and Telecom (TMT) Investment Banking for Japan. Mr
Yamada, with over 17 years of experience in TMT client coverage, has a profound
understanding of complex M&A transactions and capital markets.
Previously, Yamada worked for Bank of America and Goldman Sachs. Presently, he brings a wealth of
knowledge and industry relationships to Barclays. As the TMT sector continues
to expand in Japan, Yamada's appointment further solidifies Barclays' focus
on growing its investment banking business across the Asia-Pacific region.
UBS Plans to Forego Credit
Suisse Backstop
UBS Group
AG is aiming to avoid using a $10 billion backstop for Credit Suisse amid a
backlash, according to a report by the Financial Times. The bank is
hoping to announce that it will not call on the government backstop when it
publishes its second-quarter results on 31 August 2023.
UBS has negotiated a deal with the Swiss government, securing a guarantee that covers potential losses of up to nine billion Swiss francs ($10 billion). This might result from the sale of its competitor's assets. However, this guarantee does not include the five billion francs that UBS is obligated to cover on its own.
GTC Taps
Axi’s Elian Daoud as Chief Operating Officer
Global
Trade Capital (GTC), a Dubai-based online trading provider, has appointed Elian
Daoud as its Chief Operating Officer. Daoud joins the financial services
company after six and a half years at its rival brokerage, Axi where he last
served as the Head of Robotic Process Automation.
Elian Daoud, new Chief Operating Officer at GTC
The senior
executive announced his appointment through LinkedIn today (Monday). He brings about 10 years
of experience in accounting, sales and development roles,
to the job. Apart from Axi, Daoud has worked at Royal Financials, Alfa
Financials and Brooge Forex Brokers.
Meanwhile,
GTC, which is regulated by Vanuatu Financial Services Commission, recently onboarded Jameel Ahmad as the Chief Analyst and
Advisor to the CEO.
ATFX Connect
Pledges Commitment to FX Global Code
ATFX Connect, a
brokerage brand that provides liquidity in spot forex and precious metals
trading to institutional investors, has signed up for the Global FX Code of
Conduct. The London-based broker announced today (Monday) that it has pledged
its commitment to the code.
The code is a set
of principles for good practice in the wholesale forex market. It was developed
in July 2021 through joint efforts between central banks and
industry actors from over 20 jurisdictions around the world.
Speaking on
the development, Wei Qiang Zhang, the Managing Director of ATFX Connect, noted that
the “important step” signifies the brokerage’s expansion within the institutional
electronic forex industry.
HYCM Hires
Axiory’s Dominic Poynter as Chief Marketing Officer
HYCM, the
London-based forex and contracts for difference (CFD) broker that recently rebranded from Henyep
UK, has
appointed Dominic Poynter as its Chief Marketing Officer. Poynter was
previously the Marketing Director at a multi-asset broker Axiory for two years.
Dominic Poynter, new Chief Marketing Officer at HYCM
The
senior executive announced his appointment at HYCM on Monday through a LinkedIn
post. His profile on the professional networking platform shows he started the
Cyprus-based role last month.
Poynter
joined the retail forex and CFD industry in 2010 as a Website Manager at FxPro
Financial Services. Since then, he has served in senior marketing roles at
easyMarkets, ATFX and Axiory.
Deutsche Börse’s
Cash Market Trading Volumes Plunge 16% in June
Deutsche Börse’s cash markets generated a turnover of
€106.02 billion in June. The figures represent a decline of 16% from €126
billion recorded in the same period last year. The numbers, however, did not
change much from €106.54 billion,which was reported in the previous month.
The German capital markets’ equities generated the most
in the cash market of the group at €90.39 billion. The trading in the
Exchange Traded Funds (ETFs), Exchange Traded Commodities (ETCs), and the
Exchange Traded Notes (ETNs) generated €14.06 billion.
Additionally, the turnover for bonds, certificates,
and funds was €0.66 billion, €0.87 billion, and €0.04 billion,
respectively.
Binance Taps Min Lint to Head Latin America
The cryptocurrency exchange, Binance has appointed
Min Lin to head its operations in the Latin American region. Lin will be in
charge of leading teams with a focus on optimizing the products and services of
the exchange.
He joined Binance in 2021 as the Head of Business
Development and previously worked as an Executive Director, Global Markets
Division, at Goldman Sachs. His appointment comes at a time Binance is expanding its educational partnerships and
community outreach in Latin America.
US Dollar LIBOR Panel
Ceases
The US
dollar London Interbank Offered Rate (LIBOR) panel has officially been
discontinued, marking a significant shift in the global financial sector. According
to the UK’s FCA, as of 30 June 2023, the overnight and 12-month US dollar LIBOR
settings have ceased permanently, and the 1, 3, and 6-month US dollar LIBOR
settings are now published in a synthetic form. The LIBOR panel's final
cessation signifies the end of an era in banking, with synthetic LIBOR rates no
longer representative of the underlying markets.
The
synthetic US dollar LIBOR settings, now regulated under the Benchmarks
Regulation, will be calculated based on the relevant CME Term SOFR Reference
Rate along with the respective ISDA fixed spread adjustment until September 2024.
From July 2023,
all new use of synthetic US dollar LIBOR has been prohibited. Major
clearinghouses have since converted cleared derivative contracts as they were previously
referencing the US dollar LIBOR to risk-free rates.
MetaTrader Web Terminals
Move to New Address
Source: MetaQuotes
The web
terminals for both MetaTrader 4 and MetaTrader 5 have relocated from the former
https://trade.mql5.com/trade to the new address, https://metatraderweb.app/trade. MetaQuotes has informed us that support
for the MetaTrader 5 Web version will discontinue from 1 August 2023, while the
MetaTrader 4 Web will persist.
Users of
the old MetaTrader 5 Web terminal are advised to request the new version of
MetaTrader 5 WebTerminal from their brokers. The newer version offers enhanced
functionality and efficiency and is compatible across various platforms, such as on Linux, Mac, iOS, and Android OS.
Unlike the
older version, the new MetaTrader 5 WebTerminal enables a direct connection to
the specific broker, simplifying the login process.
FCA and CNMV Warnings about Unauthorized
Firms
FM, Financial Conduct Authority
The UK’s
FCA has issued new warnings against unauthorized companies, including DEUS,
Diluxmoon, Igenius FX, VELOXTRADES, and Ultranovas. The FCA noted that these
companies are not authorized or registered to provide financial services and
cautioned the public about their activities.
Similarly,
Spain's National Securities Market Commission (CNMV) has warned about
several entities, including EQUIPO JUANFE, SMART+, SBC SMARTFUND LIMITED, and
TRADECENTRIX. According to the CNMV, these entities are not registered in its
registry and, thus are not authorized to provide investment services or other
activities under its purview.
The FCA and
CNMV's warnings highlight the growing need for investor awareness and vigilance
in the financial sector.
ASIC Permanently Bans
David Sutton
The
Australian Securities and Investments Commission (ASIC) has permanently banned a Sydney-based director, David Henty Sutton from providing any financial services.
This decision results from ASIC's concerns arising from Sutton's activities
when offering investment on unlisted shares via his company, McFaddens Securities
Pty Ltd, now known as APC Securities Pty Ltd.
Along with
banning Sutton, ASIC has cancelled the Australian financial services license of
McFaddens Securities. The company was found to have misled investors in
Australia and overseas about investments. This decision underlines ASIC's
commitment to ensuring a fair and transparent financial market.
XS.com Appoints New Business
Development Manager
Joanna Atwi
The retail
trading company XS.com announced yesterday (Sunday) that it has onboarded Joanna
Atwi as a new Business Development Manager for the MENA region.
“I'm
excited to announce that I joined the XS.com family as Business Development
Manager, MENA,” Atwi commented in a LinkedIn post.
In the past,
Atwi worked for ICM.com, where she spent more than five years. Firstly, as
a Business Development Associate and for the last five months as a Business
Development Manager. Previously, she worked for Trust Capital S.A.L as a Sales
Executive.
Barclays Appoints New Head
of TMT
Barclays
has announced the appointment of Akihiko Yamada as the Managing Director and
Head of Technology, Media and Telecom (TMT) Investment Banking for Japan. Mr
Yamada, with over 17 years of experience in TMT client coverage, has a profound
understanding of complex M&A transactions and capital markets.
Previously, Yamada worked for Bank of America and Goldman Sachs. Presently, he brings a wealth of
knowledge and industry relationships to Barclays. As the TMT sector continues
to expand in Japan, Yamada's appointment further solidifies Barclays' focus
on growing its investment banking business across the Asia-Pacific region.
UBS Plans to Forego Credit
Suisse Backstop
UBS Group
AG is aiming to avoid using a $10 billion backstop for Credit Suisse amid a
backlash, according to a report by the Financial Times. The bank is
hoping to announce that it will not call on the government backstop when it
publishes its second-quarter results on 31 August 2023.
UBS has negotiated a deal with the Swiss government, securing a guarantee that covers potential losses of up to nine billion Swiss francs ($10 billion). This might result from the sale of its competitor's assets. However, this guarantee does not include the five billion francs that UBS is obligated to cover on its own.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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