News Nuggets | 6 June: Citi Chooses NetDania; FMA Warns against Imposter

Your Bourse Chooses New HR Manager

Your Bourse announced today (Tuesday) it is appointing Tetiana Dmitrieva as a new Human Resources (HR) Manager. In her previous post, Dmitrieva was working as an HR Recruiter for Fxview and served at Tixee in the past. She brings seven years of experience in sales and human resources; however, she has been involved with the investment industry for the last year.

"Today, I am thrilled to announce a significant step in my professional journey. I have made the decision to change both company and position, and I couldn't be more excited about the opportunities that lie ahead," Dmitrieva wrote on her LinkedIn profile.

Nomura's Corporate Outlook

Analysts at Nomura predict a rise of 0.3% in sales, an increase of 11.1% in operating profits, and a surge of 4.2% in recurring profits for FY23, covering all industries excluding financials. When compared to the previous forecast carried out on 1 March 2023, they have elevated their sales growth prediction by 0.5 percentage points and their operating profit prediction by 0.3 percentage points.

In addition, Nomura is predicting an increase of 2.5% in sales, a rise of 9.1% in operating profits, and a surge of 8.4% in recurring profits for FY24. This marks the first time Nomura consolidated analysts' earnings forecasts for this reporting period. Across all industries excluding financials, the company foresees solid growth in profits throughout FY24.

Cboe to Offer Margined BTC and ETH Futures

Cboe Global Markets' digital asset exchange is set to introduce margined Bitcoin and Ether futures contracts following crucial regulatory approval received this week.

The Commodity Futures Trading Commission (CFTC) granted its consent for Cboe Digital to commence the offering of physically and financially settled margined contracts. The new offering should be available in the second part of the year.

The provision for physical settlement of digital assets will facilitate traditional financial entities to engage with Bitcoin or Ether futures without the need for intermediaries to assume custody, according to John Palmer, the President of Cboe Digital.

"We did not want to compel participants to have to take custody or handle the physical asset," Palmer stated noting the advantage of having a spot market.

New Zealand's FMA Warns against Imposter Website

The Financial Markets Authority (FMA) of New Zealand has urged caution when interacting with BespokeFinance.ltd. The entity operates a website offering investment opportunities, despite being unregistered to provide financial services in New Zealand.

BespokeFinance.ltd falsely claims to be a registered New Zealand company by illegitimately using the Certificate of Incorporation belonging to a genuine New Zealand company, Bespoken New Zealand Limited.

Bespoken New Zealand Limited's director has confirmed to the FMA that there is no connection between their company and the BespokeFinance.ltd website.

ASIC Bans Stephen Garry Vick

Brisbane Stephen Garry Vick, a financial adviser in Brisbane, has been prohibited by ASIC from offering financial services, engaging in any activities related to operating a financial services business, and managing an entity involved in a financial services business. This ban will be in effect for a period of five years, starting from 5 September 2022.

"Mr Vick's business comprised a group of companies that provided services in property sales, mortgage broking, accounting and financial advice," ASIC stated.

After conducting an investigation, ASIC determined that Vick did not prioritize the best interests of his clients. Specifically, he advised them to transfer their current superannuation funds to a recently established self-managed superannuation fund (SMSF). In addition, he encouraged them to borrow money to invest in residential property.

Citi Selects NetDania

NetDania, a division of United Fintech, has recently been chosen by Citi to offer advanced charting and data visualization services on its Velocity 3.0 platform. This collaboration allows Citi's clients to benefit from NetDania's comprehensive data visualization tools and cutting-edge charting capabilities, enhancing their overall trading experience.

David O'Byrne, the Global Product Head of FX Platforms and Distribution at Citi, expressed his enthusiasm for the partnership, stating that the Velocity OS was specifically designed to foster a network of collaborations.

"The Velocity OS was purpose-built to allow for an ecosystem of partnerships; and we see our clients benefitting greatly from NetDania's rich data visualisation and advanced charting tools," O'Byrne commented.