Husam Al Kurdi who recently joined SquaredFinancial as its new Chief Executive Officer sat down with LeapRate for an interview. Having spent two decades working in the financial and banking industry, he has acquired an international reputation for developing and managing sophisticated trading companies. He has been involved with the launch and running of a number of successful financial institutions in Europe, Asia and the Middle East. He said that traders main demands in 2020 are access and products.
LMAX Group, the independent operator of institutional execution venues for FX and crypto currency trading, launched a Weekend FX service to enable clients to trade outside of market hours for the first time on institutional grade exchange infrastructure. The Weekend FX service operates from Friday 17:05 EST to Sunday 17:00 EST when the spot FX market is closed. It will be available through FCA regulated broker LMAX Global.
FXCM Group, online FX and CFD trading and cryptocurrencies provider announcing the launch of its UKOilSpot and USOilSpot CFD products. The two new spot oil products represent the current spot price of West Texas Intermediate and Brent Crude. In the days leading up to contract expiration, customers may leave positions open indefinitely and avoid potentially thin liquidity.
San Francisco-based blockchain company Ripple and its CEO Brad Garlinghouse fight fraud charges in court saying the plaintiff has not provided details on the alleged crimes. The lawyers of the company moved on Monday for dismissal with prejudice of three of the fraud charges brought against Ripple and its CEO by the lead plaintiff Bradley Sostack in his complaint for failing to provide details.
TrueFX, a purpose-built OTC market designed for the buy-side announced the addition of UK-based clearing and liquidity provider Sucden Financial as a TrueFX Clearing Member to provide clients with liquidity access on the network. The TrueFX Clearing Member network was launched earlier this year and allows buy-side firms direct liquidity access on TrueFX from leading market makers without an intermediary. Clients can chose between clearing through Jefferies FXPB, the central credit counterparty for TrueFX, or open an account with a TCM and gain access.
US-based IEX Exchange, operated by IEX Group Inc., announced that industry veteran Daniel Ciment joined as chief operational officer from July. Ciment will lead operations and innovation for IEX Exchange at his new position and report to IEX President and Co-Founder Ronan Ryan.
Exchange holding company, Cboe Global Markets, Inc. announced launching new improvements – a new Quote Depletion Protection (QDP) feature that would offer new protective capabilities and increase the efficacy of its Midpoint Discretionary Order (MDO). MDO is introduced by Cboe order type, designed to enable participants to trade more often with maximum price improvement. MDOs allow participants to post displayed or non-displayed liquidity at the National Best Bid or Offer (NBBO) with discretion to execute up to and including the midpoint of the NBBO.
Good news for cTrader’s brokers – they can now connect to Gold-i’s Matrix NETwork to access a wide range of multi-asset liquidity and utilise Gold-i’s advanced liquidity management tools. Through the Gold-i Matrix, everyone using Spotware’s FX and CFDs trading platform can now access a full spectrum of asset classes, including FX, equities and cryptocurrencies.
Singapore Exchange (SGX) published its market statistics for May 2020. The company reported gains in the exchange’s derivatives franchise amid increased portfolio demand in foreign exchange and commodities. Securities daily average value (SDAV) on SGX rose 7% MoM to S$1.51 billion and total securities market turnover value fell 8% MoM to S$27.2 billion from previous month when it was S$29.6 billion. The market turnover value of exchange-traded funds (ETF) dropped 55% MoM to S$302 million.
GAIN Capital Holdings, Inc., a global provider of online trading services, announced that the company’s stockholders voted on Friday to approve the set forth in February merger. As per the agreement, financial services provider INTL FCStone would acquire Gain for $6.00 per share in all-cash transaction, amounting to approximately $236 million in equity value. NTL FCStone has also agreed to make an offer at closing to repurchase GAIN Capital’s $92 million convertible notes due 2022 as part of the transaction.
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