News Nuggets | 30 May: Huobi HK Launches; US Approves Eurex BTC Futures

eToro Adds 5 Target Maturity Bond ETFs

Social trading and multi-asset investment broker eToro has added five Exchange-Traded Funds (ETFs) to its product offering.

The additional ETFs, $IBDQ, $IBDP, IBDR, IBTG, AND IBTF, according to an announcement made on Tuesday, hold bonds with similar maturity dates and have a fixed life. Further, their distribution is every month.

According to eToro, the ETFs, akin to the traditional bonds ETFs, have advantages, including broad diversification, ease of access, and affordability. What distinguishes them from their traditional counterparts is that they have a specific maturity, and are not prone to market volatility.

LiquidityBook Brings Onboard Former Twitter Staff

Cloud-native trading solutions provider, LiquidityBook, revealed the recruitment of ex-Twitter employee, Cavin Woo, as Principal Software Engineer. Mr Woo will directly report to Shawn Samuel, the Chief Technology Officer, and lead the development of the company's extensive trade management software offerings.

In this capacity, Mr Woo's efforts will be concentrated on enhancing LiquidityBook's execution management system, leveraging his experience in creating scalable, user-centric software crucial for expanding the company's diverse clientele.

BIS Advocates for API Protocol Standardization

Today, the Committee on Payments and Market Infrastructures (CPMI) of the Bank for International Settlements urged cross-border payment service providers, financial institutions, relevant industry associations, and central banks to propose API experts for a newly established panel.

The panel's mission is to facilitate the standardization of API protocols for cross-border transactions. Nominees are expected to have profound technical expertise in API development, open banking, and cross-border payments, as well as be familiar with API standardization efforts at both jurisdictional and multilateral levels.

Moomoo Introduces Around-the-Clock US Stock Trading

Moomoo Singapore pioneers the first digital brokerage service, offering 24/7 trading of over 100 US stocks and ETFs five days a week. This innovative feature aims to empower retail investors, enabling them to trade American securities and ETFs conveniently.

Moomoo Singapore's recent service expansion promotes accessibility, flexibility, and cost-effectiveness for savvy traders. The recent trading data reveals that as of last week in 2023, 26.5% of US stock trades on the platform were made after-hours, constituting 19.6% of the total trading volume.

Singapore investors have shown a growing interest in US mega-cap tech stocks, with TSLA, AAPL, NIO, AMZN, and BABA topping the transaction volume charts.

TS Imagine APAC Welcomes New Personnel

TS Imagine has bolstered its team in the Asia Pacific with two fresh appointments from Enfusion, an investment management fintech company.

An Hoong joins the account management team and has been given the responsibility of technical account management and client support. He is based out of Hong Kong, while Stephanie Cheung has been named the sales director.

Having been in APAC for over two decades, TS Imagine now hosts a team of over 60 members spread across key cities: Hong Kong, Singapore, Tokyo, and Sydney.

Trive Names New Chief Risk Officer

Amsterdam-based Trive has promoted Ali Cagdas Tuna, its Senior Trader & Risk Manager, as the new Chief Risk Officer. He is based in Malta and has already taken over the new role.

Tuna joined Trive from Global Kapital Group, where he held the role of Senior Trader & Research. He started his career in the trading industry in 2010 as a Dealer at Tera Brokers. On top of that, he worked with brands like Tera FX, GCM Forex, Tera Europe, and GKFX Prime.

Trive is a relatively new financial services company that offers stocks and exchange-traded funds (ETFs). Moreover, it provides leveraged counterparty trading with instruments of forex, indices, commodities, and equities. Presently, it is onboarding European clients under its license from the Malta Financial Services Authority (MFSA).

Earlier this year, the company onboarded Dennis Austinat as the new Managing Director for the DACH Region.

Huobi HK Starts Services

Huobi HK, the Hong Kong-based subsidiary of the global crypto exchange, is now offering spot cryptocurrency trading services to retail and institutional clients. The exchange already applied for a virtual asset exchange license in the jurisdiction on May 29.

“As a pioneer of a virtual asset trading platform in Hong Kong, Huobi HK has officially submitted an application notice to the Hong Kong Securities Regulatory Commission on May 29, and we look forward to obtaining a virtual asset exchange license,” the exchange noted in a tweet.

“In the next six months, Huobi HK will work with independent auditors, focusing on the security, anti-money laundering, and compliance of the platform to meet the requirements of the Hong Kong Securities Regulatory Commission and ensure the operation of the platform.”

#Huobi HK 现已开始向专业和零售客户提供现货和托管服务。作为一家香港虚拟资产交易平台的先驱，Huobi HK 已于 5 月 29 日正式向香港证监会提交了申请通知书，我们期待能够获得虚拟资产交易所牌照。

在未来六个月内，Huobi HK… pic.twitter.com/qkYSqKbLBH

— 火币Huobi中文频道 (@HuobiGlobalzh) May 29, 2023

Huobi is one of the many crypto exchanges that are in line to obtain a crypto license in Hong Kong.

Colt Expands US Infrastructure

Colt Technology Services has expanded its US capabilities with the connection of a new data center and subsea Cable Landing Station (CLS), NJFX, in New Jersey to its Colt IQ Network. The expansion came as a part of the company’s continued investment in North American infrastructure.

“On both sides of the Atlantic and across the world, businesses must balance constant threats to security with the need to accelerate digital transformation at pace. It’s why there’s never been greater demand for secure, resilient, powerful digital infrastructure connecting the US and Europe,” Keri Gilder, the CEO at Colt Technology Services.

“This latest expansion demonstrates our firm commitment to be the digital infrastructure company.”

CFTC Approves Eurex’s FTSE Bitcoin Index Futures

The Commodities Futures Trading Commission (CFTC), the regulator of the US commodities market, approved the Eurex FTSE Bitcoin Index Futures, the trading of which started on May 29.

Eurex is the first exchange in Europe to offer bitcoin index futures, and now it is expanding its product to the American market. Trading of the instrument started on April 17 outside the US. The futures contracts trade in EUR and USD with a multiplier equivalent to one bitcoin and cash settlement.

“The approval of the first exchange-traded Bitcoin future in Europe by the CFTC, making it accessible to the US market, represents another significant step towards increasing the accessibility of cryptocurrencies among institutional investors,” said Michael Lie, the Head of Digital Asset Trading at Flow Traders.

“Flow Traders remains committed to the development of the digital asset space and belief it will continue to play an important role in the global financial industry.”

Murex Extends Connectivity to LSEG

Murex, a capital markets technology provider, is enhancing its connectivity with the integration of the MX.3 platform with the London Stock Exchange Group’s Real-Time Optimized solution, which provides access to real-time market data via the cloud.

With the latest connectivity, Murex clients can access real-time market data in the MX.3 platform. They can also choose between three possible deployment models offered by LSEG – Real-Time – Optimized, Real-Time Managed Distribution Service, and Real-Time Distribution System.

“The ability to install MX.3 and plug it easily and quickly with the Real-Time – Optimized feed on the cloud enables clients to reallocate their resources in tasks that create added value and differentiation,” said Alexandre Belingard, the Head of Market Data Connectivity at Murex.

Crypto Exchange TrigonX to Relaunch

TrigonX, an Australian cryptocurrency exchange that appointed administrators on December 16, is going to relaunch services as a deed of the company arrangement which was approved by creditors.

“A liquidation would have been likely to tie up funds held in the administrator’s control for many years. This would have resulted in the substantial depletion of funds available to be distributed for the benefit of creditors,” said Matteo Salerno, a Director of the exchange.

The exchange collapsed last December with a debt of more than $50 million. It was one of the many crypto platforms whose potential demise was triggered by the FTX collapse, which legal firm Kroll confirmed.

🚀 TrigonX, the new Aussie crypto exchange rising from FTX's ashes! 🌟 With top-notch security and a user-friendly interface, it's quickly becoming every trader's top choice. Are you already on board? 💰 #cryptocurrency#trading

— Moonner (@Moonner_Crypto) May 30, 2023