Get a clearer picture of Argentina’s economic reality with Truflation’s new independent inflation tracker and calculator. This tool provides accurate, real-time inflation data and empowers Argentinians to make informed financial decisions based on transparent insights. Truflation has introduced an Argentina inflation calculator and tracker for real-time, transparent inflation data. Truflation, a leading provider of real-time financial data, has unveiled a new inflation tracker and calculator for Argentina. The platform offers an independent and transparent way to access real-time inflation data for the country, giving citizens and analysts a reliable alternative to government-reported figures. The AR Inflation Index tracks the inflation of the Argentine Peso (ARS) and compares it against official government reports. This allows Argentinian citizens and independent observers to verify inflation data with an alternative dataset. Users can review inflation statistics daily, weekly, monthly, or annually, providing comprehensive insights into the economic state of Argentina. In addition, Truflation has launched a personal inflation calculator specifically for Argentina, making it only the third country, after the US and UK, to receive this tool. This calculator allows individuals to input their salary, bills, and expenses to determine how inflation impacts their purchasing power and quality of life. The tool helps Argentinians better understand how inflation directly affects their living costs. Truflation’s Argentina inflation tools complement their existing range of calculators that offer real-time economic data by type, country, and market. Developed in partnership with the Argentine government to ensure data accuracy and transparency, these tools remain independently maintained and verified to guarantee data integrity. “We welcome Truflation’s publication of inflation tools designed to better inform Argentinian citizens and were happy to assist them in accessing the data required to develop their dashboard. Transparency is the key to giving consumers greater certainty about Argentina’s economic health and allowing them to confidently make decisions that will optimize their financial wellbeing.” Sergio Morales – Fintech & Blockchain Consultant from Argentina. Due to concerns over the manipulation of Argentina’s consumer price index (CPI), trust in published inflation figures has declined. As a result, many Argentinians are eager to access accurate, up-to-date inflation data to inform their financial choices. Truflation’s approach to inflation measurement is revolutionary, leveraging over 10 million data points for an in-depth view, compared to traditional methods that rely on only 80,000 data points. Their indexes update 30 times faster than conventional tools, with daily reporting powered by decentralized oracles and blockchain technology. This ensures highly accurate, real-time data across various sectors, including housing, setting a new benchmark for economic data reporting. By offering independent and transparent data, Truflation aims to rebuild trust and provide reliable insights for economic decision-making. The Argentina inflation dashboards deliver accurate information and practical tools for managing finances and budgeting in one of the world’s most inflation-impacted economies. About Truflation Backed by Coinbase and Chainlink, Truflation is a leading Definite Reference Point (DRP) for accurate and transparent economic data, crucial for the tokenization of Real World Assets. Truflation provides a censorship-resistant data infrastructure, known as the Truflation Stream Network, which delivers real-time financial data across a comprehensive index of over 13 million items. This infrastructure drives innovation within the DeFi ecosystem, enabling decentralized applications (dApps) like decentralized exchanges (DEXs) to access and create new markets. Truflation’s data supports a wide array of financial instruments, from predicting prices of commodities like orange juice and uranium to facilitating BTC-denominated markets for oil, gas, and corn. By offering independent, real-time insights, Truflation is pioneering a new era in the Web3 space, empowering developers and users alike to explore and capitalize on diverse financial opportunities. Website | X | Discord | Telegram | Github| YouTube

iSAM Securities has announced the appointment of Azadeh Kasraei as Head of Integrated Client Solutions, where she will develop the existing global team, focusing on efficient client service delivery whilst maintaining strong relationships with the client. Her role will include the streamlining of the onboarding process, thus maintaining iSAM Securities’ client-centric approach. iSAM Securities is a leading algorithmic trading firm and trusted electronic market maker, providing liquidity, technology, and prime services partner to institutional clients and trading venues globally. Regulated by the FCA, SFC, and CTFC, and CIMA registered, the firm offers full-service prime brokerage and execution via its cutting-edge proprietary technology, as well as analytics, cleared through the group’s bank Prime Brokers. Azadeh Kasraei joins iSAM Securities from Hidden Road Azadeh Kasraei joins iSAM Securities from Hidden Road, where she was Global Head of Client Success, focusing on bringing solutions and automation to pre and post-trading systems. Azadeh previously headed up various global teams as she assumed two senior leadership roles in her 4 years at Coremont acting as Head of Trade Support, progressing on to become the Head of Europe Operations. Across her 18 years in the industry, she gained a wealth of experience working alongside a variety of top-tier banks, including Goldman Sachs, Citi, and JP Morgan, hedge funds, including Citadel and Brevan Howard. Azadeh began her career in finance in 2006 working in FX Sales on the Hedge Fund Desk at BNP Paribas. “Shared values on the importance of client experience” Azadeh Kasraei, Head of Integrated Client Solutions at iSAM Securities, said: “iSAM Securities has already established a great reputation in the market, known for its cutting-edge technology and talented team. I have worked in client facing roles throughout my entire career, and I am thrilled to be joining a company that shares my drive and the importance of client centrism in all its operations.” Sam Johnson, Managing Director at iSAM Securities, commented: “At iSAM Securities, the needs of our clients are engrained in our DNA. I am so pleased to be welcoming Azadeh to the team as her breadth of experience and shared values on the importance of client experience makes her a natural fit within the group. I am looking forward to seeing Azadeh make the role her own and help us to continue to deliver a world class client experience. iSAM Securities expanded liquidity offering iSAM Securities recently expanded its liquidity offering with the addition of 16 new instruments, including China H Shares, Cocoa, Coffee Arabica, Coffee Robusta, Cotton, Singapore 30 and Sugar Raw, which are currently live for pricing and trading. The additional nine instruments including, US Dollar Index, Russell 2000, Bitcoin, Ether, Corn, Copper, Heating Oil, Soybean, and Wheat are set to go live in the coming months. The firm has experienced notable growth in its product offerings, recently introducing a Crypto Margin Facility alongside previous additions like Natural Gas and China A50. iSAM Securities launched RADAR and APEX Bridge iSAM Securities also recently launched its new risk analytics dashboard, RADAR, alongside the APEX Bridge, a software solution designed to streamline risk management and liquidity connection. The APEX Bridge integrates a risk engine and liquidity bridge, connecting clients to a network of liquidity providers. The platform was created by experienced risk managers and traders, and it focuses on speed and stability. It allows brokers to customize liquidity across various inputs, including spreads, skew, and time-based markups, and accepts orders from MT4, MT5, and FIX gateways. This technological expansion supports the company’s goal of globalizing its client-focused business and reaching a broader client base, backed by a multi-million dollar investment. With its multi-year investment program, iSAM Securities benefits from its technological advancements, including the APEX liquidity bridge and RADAR, the company’s analytics suite designed for retail brokerage.

Baton Systems has introduced new treasury management tools designed to optimize intraday liquidity, reduce costly buffers, and mitigate risk in real time. This new functionality, available now, integrates seamlessly with Baton’s Core-Payments solution, allowing clients to transform how they manage intraday liquidity with the flexibility to configure the tools to meet their firm’s specific requirements. How to predict and optimize intraday liquidity use Baton, a global capital markets technology provider, facilitates the optimized settlement of $20-30 billion in asset value daily. The company’s new liquidity management tools enable firms to significantly reduce financing costs, which have risen due to interest rate normalization. Baton highlights that these tools also address increased regulatory scrutiny on financial resilience following the market disruptions of 2023. Treasury teams have traditionally faced challenges in predicting and optimizing intraday liquidity usage. With limitations in identifying and reallocating cash and securities, planning for intraday liquidity demands, and tracking financial health, treasury teams have struggled to implement strategies that reduce funding needs, divert liquidity to revenue-generating activities, and mitigate risk. The launch of these tools coincides with ongoing industry efforts to evaluate performance amid recent global equity market sell-offs and to enhance liquidity resilience in future volatile periods. In such scenarios, banks require immediate access to critical data on balances, exposures, and obligations, emphasizing the need for robust intraday liquidity management. Baton’s tools offer treasury managers a dashboard providing real-time insights into the liquidity impact of individual counterparties across all business lines. This real-time, firm-wide visibility and control over liquidity sources improve forecasting and decision-making, enabling quick adjustments to liquidity strategies. Treasury managers can instantly access crucial real-time data to adjust capital allocations and reactivate available capital. They can also analyze liquidity flows and trace contributing factors, gaining a clearer understanding of how different events affect their liquidity profiles and those of their counterparties. “Urgency for a significant shift towards real-time treasury management” By integrating real-time data with historical models, these tools help optimize payment strategies and detect deviations in market or counterparty behavior that may signal a credit crunch or liquidity issues. Using historical data, treasury managers can predict inbound payments and intraday liquidity demands, with the tools recommending the optimal sequencing of outbound payments to reduce funding costs. Additionally, the tools offer stress-testing capabilities, enabling treasury managers to assess various scenarios’ impact on liquidity and ensure that obligations are met even under challenging conditions. Arjun Jayaram, Founder and CEO of Baton Systems, said: “Recent market events underscore the urgency for a significant shift towards real-time treasury management. “With regulators more focused than ever on financial resilience, we’ve designed these tools to enable treasury managers to develop more robust liquidity strategies, to easily access the critical information needed to make informed decisions fast and rapidly adjust strategies to effectively respond to and proactively optimise resources as market conditions change.”

Due to unprecedented demand, we are pleased to extend the nominations deadline for our FinanceFeeds Awards 2024. The nomination period is now open until Friday, 13 September. Companies are invited to submit their nominations across 5 categories: Brokers, Institutional, Fintech, Crypto, and Prop Trading. You may submit multiple nominations to enhance your brand recognition within the financial markets. How to Participate: Visit our dedicated awards webpage: FinanceFeeds Awards 2024 Select the relevant nomination categories for your business. Complete and submit the application form by 13 September. Receive a confirmation email once your nominations are accepted. The nomination period will close on Friday, August 23, after which all submissions will be reviewed by a panel of independent experts from the global online trading and fintech industries. Award Process: Winners will be notified via email starting Monday, 23 September. Upon notification, winners must submit their brand collateral for award creation. To receive their awards, winners need to book a special media package. For more details, check out our comprehensive Awards FAQ. Our awards stand out in the industry due to our distinct approach to evaluating companies’ competencies, innovations, and business models. Our niche industry audience provides a unique platform for leading players to shine. Additionally, all award winners will have dedicated pages on FinanceFeeds, showcasing their achievements and services to boost online brand awareness, growth, and lead generation.

Intercontinental Exchange and OPEN have launched the NYSE OPEN Venture Capital Unicorn Index (NYSEOVC). NYSEDOVC is a new benchmark for a basket of U.S.-based, privately held, and venture-backed unicorn companies. “Unicorns” are privately held start-up companies with valuations of over $1 billion. They represent the largest and often highest-growth venture-backed companies. OPEN is committed to democratizing access to private markets by empowering investors with the tools to participate in the growth potential of groundbreaking companies. OPEN is bringing the revolution of index investing to late-stage venture capital. “A key development in the evolution of bridging public and private markets” According to ICE, the index and the pricing supporting it represent a paradigm shift in evaluating innovative private companies as investors seek to better monitor and track high-growth venture-backed private companies. David Shapiro, CEO at OPEN, said: “We are thrilled to introduce the NYSE OPEN Venture Capital Unicorn Index, a key development in the evolution of bridging public and private markets. By applying our rigorous new approach to valuing privately held companies, and working with ICE to calculate and administer the index, we’re bringing a deeper level of transparency to some of the most innovative and fastest-growing private companies in the U.S.” The NYSE OPEN Venture Capital Unicorn Index is designed to track the performance of 50 large U.S.-based Unicorns. The unique index, combining OPEN’s pricing and reference data and ICE’s robust index calculation and administration services, offers enhanced insights into the performance and valuation dynamics of leading private venture capital companies. Preston Peacock, Head of ICE Data Indices, commented: “OPEN’s methodology for valuing privately held companies offers deeper insights into the growth we’re seeing across the broader venture-backed tech industry. As part of the ICE family of indices, this new index will be part of ICE’s suite of offerings supporting the entire index and ETF lifecycle, which ranges from securities pricing and index creation all the way to listing and trading ETFs on the New York Stock Exchange.”

Johannesburg Stock Exchange (JSE) has expanded its partnership with Beeks and IPC System to bolster the exchange’s Colo 2.0 offering with enhanced dual-location disaster recovery capabilities. JSE’s Colo 2.0 is an advanced managed infrastructure as a service powered by Beeks’ Exchange Cloud, in collaboration with IPC, a leading provider of electronic trading solutions. A secondary data center for robust infrastructure The move further opens the door to cloud-based solutions in African financial markets. The JSE will be able to swiftly adapt to changing market conditions, ensuring continuous high performance and resilience. The South African exchange’s Colo 2.0 provides JSE customers with innovative hosting and connectivity solutions, accessing on-demand private cloud computing and low latency analytics. Leveraging the agility and scalability of Beeks’ Exchange Cloud, and IPC’s data center presence/fully hosted IaaS data center solutions, the JSE will be able to quickly respond to market demands and regulatory requirements. A secondary data center will ensure JSE’s infrastructure remains robust, resilient, and capable of adapting to the evolving needs of its customers. The expansion builds on the successful launch of Colo 2.0 in September 2023 and follows a significant contract extension in March 2024 driven by higher-than-expected demand from the financial sector. “A truly cloud-based marketplace infrastructure” Tebalo Tsoaeli, Chief Innovation Officer at the JSE, said: “Since the launch of Colo 2.0 in September 2023, JSE has seen significant adoption of the Colo 2.0 service by customers, demonstrating a clear demand for the product offering. This has resulted in additional demand for a secondary solution aimed at addressing the redundancy and Disaster Recovery requirements of existing customers. Through our partnership with Beeks and IPC, JSE seeks to power a truly cloud-based marketplace infrastructure that is modern, hyper-scalable, ultra-resilient, highly performant, and accessible to all market participants. Gordon McArthur, CEO of Beeks, commented: “We are delighted to announce this further expansion with the JSE to meet the growing demand for the Colo 2.0 service from the JSE’s customers. Exchange Cloud continues to be a unique offering in the market, and the success of the solution at the JSE is supporting our discussions with other global exchanges, underpinning our confidence in continued momentum.”

San Francisco-based asset manager Bitwise has expanded its presence into the European markets through the acquisition of London-based crypto investment firm ETC Group. The financial terms of the deal have not been disclosed. ETC Group is known for its range of crypto exchange-traded products (ETPs) and manages over $1 billion in assets. The firm’s portfolio includes products such as Bitcoin ETP (BTCE), Ethereum with staking (ET32), Solana (ESOL), XRP (GXRP), and the MSCI Digital Assets Select 20 (DA20). With this acquisition, Bitwise’s assets under management (AUM) have increased to over $4.5 billion, adding nine European-listed crypto ETPs to its offerings. “This acquisition allows us to serve European investors, to offer clients global insight, and to expand the product suite with innovative ETPs,” said Bitwise CEO Hunter Horsley in a statement. ETC Group has been active in the crypto ETP market since 2020, launching its first products on Deutsche Börse Xetra with regulatory approval from Germany’s Federal Financial Supervisory Authority (BaFin). The company also offers a blockchain equity exchange-traded fund (ETF), providing exposure to blockchain-based companies in Europe. In the United States, Bitwise is one of the asset managers behind the recently approved spot Bitcoin ETFs. In January, the U.S. Securities and Exchange Commission (SEC) approved 11 asset manager applications, including Bitwise’s Bitcoin ETF (BITB), which now holds nearly $2.27 billion in net assets as of Aug. 19. Additionally, Bitwise launched a spot Ether ETP, the Bitwise Ethereum ETF (ETHW), which has gathered over $300 million in assets in its first few weeks. The adoption of crypto ETPs is expected to accelerate in the coming years, driven by growing institutional demand and a maturing regulatory environment for digital assets. Horsley has previously noted the “stealthy but significant” adoption of Bitcoin ETFs by registered investment advisers and multifamily offices in the U.S., with over $51 billion in AUM accumulated across 11 Bitcoin ETFs since their launch on Wall Street.

Israeli-based, but London-stock market listed Plus500 Ltd (LON:PLUS) today reported financial and operational metrics for the first half of 2024, highlighting higher revenues and EBITDA despite lower market activity towards the end of the period. The company reported revenues of $398.2 million for H1 2024, up 8% compared to $368.5 million in H1 2023. Q2 2024 revenues also showed growth, rising 14% to $182.6 million from $160.6 million in Q2 2023. EBITDA for H1 2024 stood at $183.9 million, up 6% from $174.1 million in the same period last year. For Q2 2024, EBITDA increased by 11% to $81.3 million, compared to $73.2 million in Q2 2023. The EBITDA margin remained strong at 46%, slightly down from 47% in H1 2023. Plus500’s earnings per share jumped 18% to $1.90, and its cash reserves hit a milestone of over $1 billion for the first time, which reflects the business’s strong financial footing. CEO David Zruia shared his thoughts on the results, pointing out the company’s success in expanding its reach, rolling out new products, and keeping customers engaged. “We’re in a great position to make the most of both current market conditions and the bigger trends in our sector,” Zruia said. Plus500 announced an additional $185.5 million in shareholder returns, made up of $110 million in share buybacks and $75.5 million in dividends. This bumps up the total returns for FY 2024 to $360.5 million. Since its IPO in 2013, the company has returned $2.3 billion to shareholders, making it a standout on the FTSE All-Share index. On the operational side, Plus500 saw a rise in new and active customers, thanks to its marketing and customer acquisition strategies. The U.S. market was a highlight, with both its B2B and B2C segments performing well. In H1 2024, Plus500 onboarded 56,759 new customers, up from 50,449 in H1 2023. This included 24,810 new customers in Q2 2024, compared to 22,248 in Q2 2023. The active customer base remained stable at 175,909 during H1 2024, compared to 175,762 in H1 2023. During H1 2024, Plus500 announced shareholder returns of $175 million through dividends and share buybacks. The company bought 3,229,215 shares at an average price of £19.73, totaling $80.7 million. As of June 30, 2024, the total number of ordinary shares in issue was 76,509,277. Plus500 also launched a new client portal, ‘Plus500 Cosmos,’ and introduced ‘knock-out’ options in Japan, catering to local trading preferences. Looking forward, Plus500 expects to surpass market expectations for FY 2024, driven by its strategic moves and strong market position. Throughout the year, Plus500 saw operational and strategic milestones, bringing its total number of global regulatory licenses to 13. Key developments included expanding its US futures business, launching a localized retail trading platform in Japan, and making progress in the UAE market following the earlier acquisition of a regulatory license. Additionally, Plus500 integrated its US acquisitions and introduced ‘Plus500 Futures’ in the US market. In addition, Plus500 entered the Japanese market with a new trading platform tailored for local retail traders. The UAE market showed promising growth following the regulatory license granted by the Dubai Financial Services Authority (DFSA), and the company also secured a new regulatory license from the Securities Commission of the Bahamas in July 2023.

The National Bank of Ras Al Khaimah (RAKBANK), a major UAE bank that has been leading in the digital assets sector, has tapped Bitpanda Technology Solutions (BTS) to provide a robust platform for managing digital assets in the United Arab Emirates. Bitpanda Technology Solutions (BTS) is a leading digital assets infrastructure provider that recently entered the Middle East and North Africa region by opening offices in Dubai and launching Bitpanda MENA. Bitpanda MENA opened its first office in Dubai at the DMCC Crypto Centre and has already appointed an experienced team led by Walid Benothman to tailor its offering to the local market. In line with its long history of regulatory compliance, Bitpanda is in the final stages of obtaining its FSP and will continue to work with local regulators to ensure a fully compliant product offering. Bitpanda’s BTS for banks, fintechs, neobrokers and crypto firms in MENA Banks, fintechs, (neo-)brokers, and crypto-native companies in the region will be able to partner with BTS to launch their own trading solutions powered by Bitpanda’s infrastructure in as little as three months once Bitpanda MENA has finalised obtaining its local licence later this year. BTS already partners with several of Europe’s largest banks, and currently provides the trading infrastructure for over 20 million customers across Europe. BTS allows its partners to integrate a modular and scaled 24/7 trading infrastructure and offer trading, investing, and custody services across every asset class in a modular way. Partners can build their own user experiences on an ISO 27001-certified and battle-proofed infrastructure including features such as savings plans, asset-to-asset swaps, and crypto staking functionality. Additionally, all of Bitpanda’s European licenses and regulatory experience can be accessed through a partnership with the most comprehensive and regulated crypto platform in Europe. RAKBANK will have one of the most complete offerings in the UAE When fully launched, RAKBANK customers will be able to pursue various digital assets use cases, and settle with payment tokens safely and securely, unlocking one of the most complete offerings available in the UAE market. This is however subject to CBUAE approval. The partnership positions RAKBANK and Bitpanda at the forefront of the digital financial breakthrough in the UAE while fostering growth in the digital assets sector. This allows banks to participate in the virtual asset economy without needing to develop their own in-house virtual asset capabilities. The provision of services is contingent upon Bitpanda Broker MENA DMCC receiving operational approval and a license from VARA, as well as RAKBANK obtaining the necessary approval from the CBUAE. “We will transform crypto access for millions in the UAE” Lukas Enzersdorfer-Konrad, CEO of Bitpanda Technology Solutions added: “One of the main reasons we recently launched in the UAE was the ambition and vision that the country is showing in the digital assets space – this is a perfect example. Alongside RAKBANK, we will transform crypto access for millions in the UAE and lay the groundwork for future innovation.” Dongjun Choi, Group Chief Customer Officer of RAKBANK commented: “We believe digital assets represent one of the future ways for customers to manage their finances more efficiently and securely. This partnership is poised to fill the gap in the market for a trustworthy and regulated banking platform to provide access to digital assets. By merging our expertise, we aim to revolutionise the traditional financial landscape for the benefit of our customers, enabling them to explore a broader range of digital assets opportunities.”

moomoo AU has partnered with Sharesight to simplify its users’ portfolio management, allowing them to easily track their investment holdings and reporting. Investors can connect through the moomoo app to sync their portfolio holdings and past trades, with future trades automatically imported and visible through Sharesight within a day of completion. Sharesight is an online portfolio tracker that empowers investors by simplifying complex investment data. With over 400,000 users globally, Sharesight caters to all kinds of investors, from beginners to experienced investors. moomoo users can leverage Sharesight to track their investment performance, dividends, and tax obligations in one place. “They can now see all their investments in one place” Michael McCarthy, Chief Commercial Officer at moomoo Australia, said: “By partnering with Sharesight we take a further step toward our goal of making share trading as accessible as possible for our users. They can now see all their investments in one place, alongside performance and reporting information. Sharesight’s automatic calculations determine our users’ returns and obligations, making tax time much, much easier for them. This kind of simplicity makes a real difference in their investment journey.” Moomoo users can choose to automatically connect to Sharesight or do so on a manual basis. After joining Sharesight, moomoo users can stop auto-syncing by disconnecting at any time. Shareshight offers a range of features, including: support for a range of asset classes and markets with its automatic tracking service, including stocks and exchange-traded funds. the app automatically tracks dividend and distribution income (including franked dividends and dividend reinvestment plans) and takes this into account when calculating investment returns. advanced performance and tax reporting, including capital gains, brokerage fees, and even currency fluctuations when calculating overall returns. Michael McCarthy is moomoo AU’s new CCO It was earlier this month that moomoo Michael McCarthy was appointed Chief Commercial Officer of moomoo’s Australian subsidiary, Moomoo AU. A well-known commentator in the Australian financial markets, Michael McCarthy brings over four decades of industry experience and leadership to the role. Michael McCarthy joins Moomoo AU from Number13Black, where he was Trader/Director, but he is mostly known for his prior roles as Chief Strategy Officer at Tiger Brokers (AU) and Chief Market Strategist at CMC Markets. The new CCO of moomoo AU is a trading, communications, and education professional, involved in profitably trading, dealing, and managing FX, interest rate, commodity, and equity markets since 1983, with a specialization in derivatives since 1993. McCarthy is a former AOM market-maker and SFE registered representative who has held ASXD level II accreditation and series 7 license from SEC NY. He is ASIC accredited RG146 (Financial Advisor) and RG105 (Responsible Manager). He’s been a regular on ABC Newsradio, BBC, Bloomberg, ChannelNewsAsia, Nine, SBS, SKY, and TEN. As Chief Commercial Officer, McCarthy will be responsible for leading moomoo’s strategic direction, market expansion, and customer engagement across the region. Moomoo leverages artificial intelligence to provide an intuitive investing experience suitable for both beginners and experienced traders. The platform has gained significant popularity over the past two years, indicating a critical market need for comprehensive yet manageable trading options. Moomoo Australia now directly linked to ASX Earlier this year, Moomoo AU initiated CHESS-sponsored trades, enabling Australian investors to directly access and own shares on the Australian Securities Exchange (ASX) with minimal trading fees starting from AUD $3 per trade. CHESS, the Clearing House Electronic Subregister System used by the ASX, provides a secure method of managing shareholdings and transactions. Moomoo’s integration with CHESS sponsors adds an extra layer of security for client assets, in addition to existing measures like client funds segregation and SIPC insurance for US assets. Moomoo’s offering in Australia includes access to over 22,000 shares and ETFs across Australia, the US, and Hong Kong markets, along with competitive trading fees and a suite of professional-level features and tools. The platform also offers AI-powered capabilities, access to global news, and free investment courses, aiming to cater to investors across all levels.

By Antreas Themistokleous, an analyst at Exness. This preview of weekly data looks at USOIL and XAUUSD where economic data coming up later this week are the main market drivers for the near short-term outlook.  The most important economic data for this week are: Canadian inflation, FOMC minutes, Japanese inflation and Fed chair speech Tuesday:  Canadian inflation rate at 12:30 PM GMT. The expectation is for the figure to remain stable at 2.7% for the month of July. In the case of a surprise on the actual figure it would most likely going to create volatility on the majority of the loonie pairs. Wednesday: FOMC Minutes at 18:00 GMT where investors and traders will be paying close attention to any hints from the Federal Reserve in terms of future developments on the monetary policy. Currently, the possibilities of a rate cut have been gaining ground for the September meeting which is currently more than 70% according to the Fedwatch tool whereas any hawkish narratives might push the prospectus of a rate cut further down the road. Thursday: Japanese inflation rate at 23:30 GMT. The expectations for the month of July is that the rate could go up to 2.9% from the previous 2.8%. This might be somewhat bullish news to the market participants trading the yen.  Friday: Fed chair Jerome Powell will be giving a speech about the economic outlook at the Jackson Hole symposium in Wyoming this Friday around 10 a.m New York time. The central bank is near a major pivot point where rate cuts are broadly anticipated and the bet would be what the Fed chair would comment at a potential openness for a 50 basis-points move or what are the views of the central bank after the first rate cut happens.  USOIL, daily Oil prices eased due to fears of weaker demand in China and the approaching end of the peak driving season in the United States. Despite concerns about slow demand in China, tensions in the Middle East and the Russian-Ukrainian conflict are providing support to the oil market. Ceasefire talks in the Middle East, led by U.S. Secretary of State Antony Blinken, are ongoing, but doubts remain as violence continues in Gaza. China’s economic slowdown, including declining home prices and reduced crude processing rates, has fueled anxieties about potential demand slump adding more bearish pressure on the price. On the technical side, the price has tested the support of the 23.6% of the daily Fibonacci retracement level and has since corrected to the upside in today’s session. The 50-day moving average has touched the 100-day moving average line and it remains to see if it will cross below it or if it will continue trading above it. The Stochastic oscillator is in neutral levels hinting that the price has the potential to move to either direction in the short term while the Bollinger bands are still expanded showing the fueled-up volatility in the market. If the 23.6% of the Fibonacci holds in the coming sessions it is possible to see a bullish correction move with the first area of technical resistance being the $76 which is the psychological resistance of the round number as well as just below the 38.2% of the Fibonacci retracement level.  Gold-dollar, daily Gold prices reached a new all-time high near $2,500 mainly driven by expectations of a U.S interest rate cut and geopolitical tensions. The recent rise in gold price was driven by dovish Fed expectations and rising geopolitical tensions, overshadowing positive economic data from the US. Gold prices are also being influenced this week by the upcoming FOMC minutes and Fed Chair Powell’s speech.  Traders are closely monitoring for signals from the Federal Reserve, particularly regarding the potential size of the rate reduction and the impact it will have on gold prices. Factors such as a slowing U.S. economy, upcoming rate cuts, lower yields, and strong central bank demand are expected to continue driving gold prices upward in the longer term.  From a technical point of view, the price has found sufficient support around the $2,440 price and has since continued trading North even above the upper band of the Bollinger bands indicating that volatility is increasing in the market for gold. Even though the 50-day moving average is trading above the 100-day moving average validating the overall bullish trend, the Stochastic oscillator is in the extreme overbought levels hinting that there might be a bearish correction in the near short term. If this becomes reality then the first area of possible support might be found around the $2,480 which is the psychological support of the round number as well as an area of price rejection in mid-July and mid-August.  Disclaimer: the opinions in this article are personal to the writer and do not reflect those of Exness or Finance Feeds. The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

US Dollar weakens due to Fed rate cut expectations, boosting Euro. Gold surges on recession fears and geopolitical tensions but faces profit-taking. US Dollar Weakness and EUR/USD Strength The US Dollar has been under pressure in recent times, leading to a strengthening of the Euro. A primary driver of this trend is the increasing expectation of interest rate cuts by the Federal Reserve. Market participants are pricing in approximately 100 basis points of easing by the end of the year. These expectations stem from a combination of factors, including moderating inflation and concerns about potential economic slowdown. Additionally, a generally improved global risk sentiment has contributed to the US Dollar’s weakness. With investors becoming more comfortable with riskier assets, the demand for the safe-haven US Dollar has decreased. Consequently, the EUR/USD currency pair has been steadily rising, breaching the psychologically important 1.10 level and eyeing the December 2023 high of 1.1139. Gold’s Volatile Ride Gold prices have experienced a rollercoaster ride, marked by both significant gains and subsequent corrections. The precious metal reached new all-time highs driven by a confluence of factors. Firstly, heightened concerns about a potential US recession, fueled by comments from Federal Reserve officials like Chicago Fed President Austan Goolsbee, have boosted gold’s safe-haven appeal. Secondly, geopolitical tensions, particularly the ongoing conflict between Israel and Hamas, have also contributed to gold’s upward trajectory. However, the recent pullback in gold prices suggests that some profit-taking is occurring. Moreover, the market’s evolving expectations regarding the pace of Federal Reserve interest rate cuts might be impacting gold’s performance. While a more dovish Fed stance generally supports gold, the market’s focus is shifting towards the magnitude of potential rate cuts, which could introduce volatility into gold prices. Global Economic Outlook and Central Bank Policies The global economic landscape is characterized by mixed signals. On one hand, some economic indicators point to resilience, with factors like retail sales and labor market data showing positive trends. On the other hand, concerns about a potential slowdown persist, as evidenced by weaker housing data in the US. Central banks, particularly the Federal Reserve, are navigating a complex environment. While the market anticipates interest rate cuts, the exact timing and magnitude of these cuts remain uncertain. The Bank of Japan’s recent policy shift towards a less accommodative stance has also impacted currency markets. Overall, the interplay between economic data, central bank policies, and geopolitical events is creating a dynamic and volatile market environment. Investors should closely monitor economic indicators, central bank communications, and geopolitical developments to make informed investment decisions.   Main Economic Events for this week: Jackson Hole Symposium (August 22-24, 2024): This annual economic policy symposium is the most anticipated event of the week. Speeches by Fed Chair Powell and other central bank officials will shape market expectations for interest rates and economic outlook. FOMC Minutes (August 21, 2024): The minutes of the Federal Open Market Committee’s July meeting will provide insights into the Fed’s thinking and potential future policy moves. ECB Monetary Policy Meeting Accounts (August 22, 2024): The European Central Bank’s meeting accounts will offer further details on their decision-making process and potential future policy direction. US Economic Data (Various dates): Several key US economic indicators will be released, including retail sales, industrial production, and housing data. These figures will influence market sentiment and expectations for the US economy. Eurozone Economic Data (August 20, 2024): The Eurozone will release important data such as inflation, producer prices, and industrial production, which will impact the Euro’s strength. Central Bank Speeches (Various dates): Multiple speeches by Fed officials will be closely watched for clues about the future path of monetary policy.   Global PMI Data (August 21-22, 2024): PMI data from various countries will provide insights into the health of the global economy. The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.

Broadridge has appointed Simon Robertshaw as Chief Technology Officer for Front Office Trading Capabilities. Simon Robertshaw will be tasked to bring together and evolve all front-office trading capabilities, both sell-side and buy-side, across asset classes and jurisdictions. Simon Robertshaw was COO of The Bank of London Robertshaw joins Broadridge from The Bank of London, where he was Chief Operating Officer. Previous roles include leadership positions at UBS, Wachovia Bank, J.P. Morgan, and Goldman Sachs. Jason Birmingham, Global Head of Engineering at Broadridge, said: “We are thrilled to welcome Simon to lead our technology trading capabilities across the company, creating a more simplified and optimized experience for our clients. Simon’s impressive track record and his expertise in trading technology, across global markets, are an invaluable asset and will enable us to continue advancing our trading solutions for financial institutions.” Simon Robertshaw, Chief Technology Officer for Front Office Trading Capabilities at Broadridge, commented: “I am excited to be joining Broadridge, a trusted and transformative technology company, whose critical technology underpins trading globally, and to leverage my industry experience to create and develop best in class, multi-asset trading solutions for our clients. I look forward to collaborating across teams to simplify and streamline trading solutions to optimize our customers’ entire trade lifecycle.” Broadridge launched Futures & Options SaaS platform This news follows the launch of Broadridge’s Global Futures and Options Software-as-a-Service platform. The platform enhances Broadridge’s capabilities with new functionalities for global Futures and Options institutions, supporting operations from any jurisdiction and benefits from Broadridge’s multi-asset class trading and operations services. The F&O platform simplifies trading activities while driving scale and growth for the listed futures and options marketplace. As a comprehensive solution tailored for futures commission merchants (FCMs) and agency brokers, the platform provides order and execution management capabilities, access to a diverse range of global listed derivatives markets along with comprehensive pre-trade risk management and middle office functionality. Broadridge argues that sell-side firms have typically offered customized solutions for each workflow, resulting in fragmented experiences for buy-side clients and challenges for sell-side firms in gaining a comprehensive view of trading activity and risk management. The F&O platform addresses these issues globally by enabling sell-side firms to customize each workflow channel while ensuring a consistent experience for buy-side clients, regardless of asset type. The seamless integration of workflows and data coupled with rich automation is designed to not only reduce the burden related to regulatory changes but also allow for greater transparency and utilization of analytics. Broadridge recently integrated its Futures and Options (F&O) Software-as-a-Service (SaaS) Platform with Transaction Network Services (TNS). By integrating with TNS, which specializes in market connectivity, the newly enhanced F&O platform for the derivatives market will gain global exchange connectivity for order routing and market data access.

AUDUSD currency pair can be expected to rise toward the next resistance level 0.6750. – AUDUSD broke resistance area – Likely to rise to resistance level 0.6750 AUDUSD currency pair under the bullish pressure after breaking the resistance area located at the intersection of the resistance level 0.6625 (former support from June, which stopped the previous impulse wave (1)) and the 61.8% Fibonacci correction of the downward impulse (C) from the start of July. The breakout of this this resistance area accelerated the active intermediate impulse wave (3), which belongs to the higher order impulse wave 3 from the start of August. Given continuation of the strongly bearish US dollar sentiment seen across the currency markets today, AUDUSD currency pair can be expected to rise further toward the next resistance level 0.6750 – followed by the strong resistance at 0.6800 (top of the previous wave (B)). AUDUSD Technical Analysis The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.

Despite the many innovations that have permeated the blockchain realm in recent years, some of the most advanced networks today still struggle to balance key aspects such as transaction speeds, network congestion, and low-fee structures.  Therefore, as blockchain adoption has surged and decentralized applications (dApps) have continued to proliferate, the issue of high transaction fees and network latency is becoming increasingly pronounced. For instance, despite several upgrades to its digital architecture since 2021, Ethereum has continued to grapple with numerous fee-related demons. Late last year, users saw transaction costs soar to over $220 for simple transfers on decentralized exchanges (DEXs) like Uniswap, reigniting debates about the project’s long-term scalability and efficiency. Solana, a project often referred to as the ‘Ethereum killer’ and lauded for its low fees and high throughput capacity, has also faced its fair share of challenges. Earlier this year, the network went offline for a staggering five hours, making it the sixth major outage the project has faced since its launch in April 2020. Similarly, in March, Polygon, a zero-knowledge Ethereum Virtual Machine (zkEVM), experienced significant downtime that lasted over 12 hours. The event was attributed to a glitch in the protocol’s sequencer, which caused substantial issues with the platform’s transactional workflow. Even Bitcoin, a network not particularly known for its transactional prowess, has not been immune to these challenges. Recently, the network experienced a dramatic surge in transaction fees, with costs skyrocketing to an eye-watering $34 per transaction.  This spike was largely attributed to internal consolidation processes at major exchanges like OKX, which caused significant congestion. Lastly, it bears mentioning that the introduction of Ethereum-style tokens (BRC-20) and NFT-like inscriptions (Ordinals) in 2023 had already driven transaction fees around $7, setting the stage for further escalations. A crisis of scalability? As evidenced earlier, rising costs and poor throughput rates have threatened to stifle innovation and blockchain adoption, particularly in areas that require high-frequency, low-cost transactions, such as decentralized finance (DeFi) and gaming. In this regard, a number of quality projects have emerged to help alleviate these bottlenecks. For example, 0G is a data availability system that uses an innovative approach to scalability. At its core lies a unique architecture that separates data publishing from data storage. This clever design allows for horizontal scalability, enabling the network to handle an astounding 50 gigabytes per second (approx. 50,000 times faster than some of its closest competitors).  Moreover, 0G’s cost-effectiveness is equally impressive, with fees approximately 100 times lower than some of its closest competitors. This combination of speed and affordability stands to transform 0G into a game-changing solution for market makers and high-frequency crypto traders. Consider a scenario where a market maker is executing thousands of small arbitrage trades per second. On traditional blockchain networks, a sudden spike in gas fees could render these strategies unprofitable or even result in significant losses for the user.  However, with 0G, the consistently low processing costs coupled with a high-throughput environment ensures that these strategies remain viable regardless of the overall network activity. Unleashing the true potential of DeFi From the outside looking in, one can see that for the crypto trading ecosystem to truly flourish, it requires an infrastructure capable of supporting voluminous data exchanges at nominal rates. With platforms like 0G offering a high level of scalability and efficiency (alongside the ability to execute trades quickly and cheaply), they are opening up a whole new world of opportunities for crypto owners. Not only are they helping facilitate the creation of more sophisticated trading strategies and improved market liquidity but also a more efficient and robust crypto market — capable of hosting a range of innovative financial products and services that were previously impractical due to various transactional and latency issues. 

The market – or rather the market observers – assume that the Gold price has recently risen to an all-time high thanks to hopes of lower interest rates. Geopolitical tensions are also repeatedly mentioned as an additional driver. We only partly agree with these arguments. A key driver for us is the recent increase in the likelihood that Kamala Harris could actually become US president. Her economic policy (Kamalanomics) would further drive US debt and she even spoke of price controls – which has never had a long-term positive impact on the economy in history. The market is currently pricing in this growing risk. Of course, her policy would have a major impact on the development of US interest rates. The real market yield (US interest rates minus inflation) has always been one of the most important factors for the price development of Gold. However, since spring 2022, this previously very high correlation has apparently come to an end. It can be speculated that the war in Ukraine has something to do with this, i.e. that the Gold price has since incorporated a risk premium. In fact, however, the Gold price continues to correlate with the real market yield, as the percentage change over the last six months shows very clearly… We are pleased that the Gold price has finally reached the USD 2500 per ounce mark. However, we do not expect a firework. The Gold price is increasingly being controlled by the Chinese Market and the chart of the Smart Investors Action for the Shanghai Gold Exchange is now showing warning signals such as ‘exaggeration’ and ‘strong action’, which often bring about contrary trends… The same indicator for the western Gold exchanges also shows no accumulation on the part of smart investors… For the first time in many months, Chinese investors are no longer willing to pay a premium compared to western exchanges. Chinese interest has apparently evaporated during these days… However, a premium of over 10% is still being paid for physical Silver, which speaks for a relative strength of Silver compared to Gold… But the Smart Investors Action also shows no accumulation. At least, during trading days with stronger corrections, a negative exaggeration, an exaggeration downwards, was seen during the last few weeks… The Gold/Silver-Ratio has clearly suffered since the high in May, but the strength indicator is showing the first signs of life again, which confirms the relative strength of Silver against Gold here as well… As we mentioned in an earlier edition about two weeks ago, the Gold/Silver-Ratio against the US dollar is too high – and has since corrected somewhat – with potential for more… The combined indicators also suggest that the Silver price still has strength… A look at the ETF market tells us that the interest of private investors in particular has increased only slightly… Chinese investors have also not increased their Gold ETF holdings further… A similar picture for Silver ETFs. At least the selling pressure that has been going on for almost three years seems to have come to an end… The futures market also tells us that investors continue to hold large Gold positions. This limits additional buying interest in the coming weeks… A similar picture in the Silver futures market… While the bulls are likely to continue to have the advantage in the long term, the short term does not look so exciting. A surprise at the Jackson Hole (meeting of central banks) or at the DNC meeting could have a major impact on the price of Gold and Silver. The same applies to a geopolitical escalation. If these do not occur, we can expect a rather calm development of the Gold price, with the Silver price having somewhat more potential. The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

VT Markets has partnered with Newcastle United in a sponsorship deal inaugurated at the J. League International Series 2024 in Japan. Newcastle United presented a curated number ‘77’ jersey while VT Markets reciprocated with an appreciation trophy. The number ‘77’ holds great significance for VT Markets, symbolizing good fortune and its aspirations for continued growth. VT Markets is a regulated multi-asset broker with a presence in over 160 countries and offering access to over 1,000 financial instruments. VT Markets – Newcastle deal announced at the Saitama Stadium in Japan This occasion unfolded at the 63,700-capacity Saitama Stadium in Japan on July 31st, attended by representatives from both organizations. VT Markets was represented by Agustin Bilinskis, Head of Strategy Operations, APAC, and Dandelyn Koh, Global Brand Lead. Peter Silverstone, Chief Commercial Officer at Newcastle United, said: “We’re proud that VT Markets views Newcastle United as the ideal partner to support and elevate its ambitious growth plans in markets across the world. We are delighted to welcome another internationally recognized partner to our club and look forward to working closely with VT Markets.” Agustin Bilinskis, Head of Strategy Operations, APAC of VT Markets, commented: “We are incredibly excited about this partnership with Newcastle United, a team that exemplifies the same drive for excellence and innovation that we strive for at VT Markets.” Other sponsorships and CSR activities by VT Markets VT Markets recently concluded a series of exclusive events held in Monaco, in tandem with the 2024 Monaco E-Prix, offering an intimate and prestigious setting for a select group of VIP guests, partners, and media representatives. The multi-asset brokerage, which is the official team partner of Maserati MSG Racing, kicked off the media event on April 26th, featuring Maserati MSG Racing’s drivers, Maximilian Günther and Jehan Daruvala; Ludovic Moncla, Head of Affiliates at VT Markets; and Scott Swid, Chairman and Principal Owner of Maserati MSG Racing. In addition to sports sponsorships and experiences that resonate beyond trading, VT Markets is dedicated to corporate social responsibility (CSR). Last year, the broker accomplished three impactful initiatives as part of its ESG strategy. Firstly, through the United Nations’ ShareTheMeal platform, VT Markets raised an impressive 2,000 meals for communities in need between November and December 2023. This underscores their dedication to addressing hunger and contributing positively to global welfare. Secondly, in the spirit of the holiday season, VT Markets extended a generous hand to Cotlands, an organization in Johannesburg. The donation of 1,240 educational toys, including stacking rings and puzzles, aligns with their mission to provide early development opportunities to marginalized children. Thirdly, VT Markets demonstrated a commitment to youth advocacy by sponsoring and actively participating in UNESCO’s 3rd International Workshop and Training on Youth and Young Professionals in Science, Engineering, Technology, and Innovation for Disaster and Climate Resilience. The company’s Director of Global Marketing, Martin Li, delivered a keynote address advocating for equal treatment of young STEM professionals.

For Octa, a financial broker with globally recognised licenses, the 13th birthday is an incentive to collate the most valuable pieces of knowledge collected during its long and successful history in the financial markets. In a series of three articles, the experts at Octa offer you 13 recommendations: five general concepts, five practical tips, and three success stories. Below is the third and last instalment in the series: three real-life stories of Octa’s clients who have achieved significant progress in their trading journey by successfully applying the theoretical approaches described in two previous articles. Story 1. Onyinye 33-year-old Onyinye Ogbonnaya has lived in the capital of Nigeria, Abuja, all her life. She has been working since she was 16, switching various odd jobs in her quest for financial independence after finishing secondary school. Despite learning how to provide for herself from a young age, Onyinye never felt inclined to pursue a 9-to-5 job, doing lots of projects on the side.  After Nigeria, like the rest of the world, was hit by the COVID-19 pandemic, Onyinye followed the example of her friends and tried Forex trading. She started by practising on a demo account with a mentor to hone her skills and then switched to a real account. Before making her first deposit, she conducted extensive research and reviewed numerous brokers, opting for Octa. She never regretted her choice, as all the transactions were smooth and transparent. According to Onyinye, Forex trading is similar to any other kind of knowledge acquisition. It’s a comprehensible system that can become a consistent source of supplementary income, provided you approach it with systematic thinking and high self-discipline. Keeping your emotions at bay is also instrumental in achieving consistent results. Story 2. Muhamad A young Indonesian trader, Muhamad Revi, began his journey in the financial markets in early 2023. Despite his lack of experience, he has been very prolific in trading on his Octa account and achieved high performance in terms of trading volume. Besides, he already earns significant profits and argues that for him, Forex has become an important source of supplementary income, if not more. Muhamad attributes his speedy success to mutually beneficial cooperation with his friends and fellow traders. Together, they comprise a full-fledged trading team, sharing ideas, insights, and experience, supporting each other through tough times, and celebrating successful sessions. This cheerful and productive atmosphere helped Muhamad jump-start his Forex career, going from zero to significant gains in just several months. ‘Friendship and community play a critical role in my trading journey, providing a safety net of knowledge and support,’ — he says. Story 3. Iqbal Iqbal Hafizi from Malaysia has been trading Forex since 2016. The start of his trading career could have been smoother sailing, and he had his share of losses. However, he grew from these failures and came back strong: he found a mentor and started afresh by learning the basics and methodically honing his skills. Now, he has managed to transform Forex trading into a consistent source of income that helps him cover his day-to-day expenses.  Iqbal chose Forex instead of other investment options because of the low entry threshold and the reasonable timing of potential returns. The high liquidity of the Forex market allows traders to achieve their short-term financial goals in a limited time. Since Iqbal couldn’t spare a large sum on investments and had medium to low risk tolerance, Forex was an optimal option for him. Iqbal trades with Octa because of the broker’s low spreads for various assets and full transparency of financial transactions. Among the personal qualities required to be successful in trading, he highlights psychological resilience. According to Iqbal, in Forex, as in any other business, you have good days and bad. To achieve positive outcomes, you need to keep your eyes on the long-term goals and critically assess your performance, widen your knowledge, and incrementally work on your mistakes.  Conclusion The three successful traders featured in these stories each have a unique background. That being said, all three found similar values in their quest for consistent profits. All three emphasise the importance of strategic thinking and highlight the role of mentors in their respective journeys. As an experienced broker focused on meeting its clients’ demands, Octa supports strategising and networking through its proprietary trading platform, OctaTrader. This all-in-one solution allows emerging traders to facilitate the decision-making process while networking with other traders and applying expert insights to their own sessions. About Octa Octa is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already used by clients from 180 countries with more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.  The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities. Octa has won more than 70 awards since its foundation, including the ‘Best Forex Broker 2023’ award from AllForexRating and the ‘Best Mobile Trading Platform 2024’ award from Global Brand Magazine. 

Welcome to our weekly roundup, where we dive into all the latest buzz in the Forex, Fintech, and cryptocurrency scenes. We’ve got you covered with a rundown of the week’s top events and trends in these dynamic sectors, so you can stay in the know and ahead of the game. Scope Markets rebrands as Scope amid Rostro integration Belize-based FX and CFDs brokerage Scope Markets has become Scope to reflect the culmination of its extensive business transformation after it was acquired by Rostro Group. Read More Celsius sues Tether over $3.3 billion Bitcoin claim Tether, the issuer of the world’s largest stablecoin, USDT, said it plans to defend itself against what it calls “shakedown” litigation brought by the bankrupt crypto lender Celsius. Read More SEC charges NovaTech with operating $650 million Ponzi scheme The SEC has charged the founders of NovaTech Ltd., Cynthia and Eddy Petion, along with their company and several promoters, with operating a cryptocurrency pyramid scheme that raised more than $650 million. Read More Advanced Markets transitions MENA operations to Daman Markets UAE-based Daman Securities and Advanced Markets are stepping up their strategic partnership with plans to spin off Daman Markets as an independent entity. Read More Mt. Gox moves $2 billion in final repayment phase A wallet that received over $2 billion in bitcoin from the collapsed Mt. Gox exchange moved the bulk of those funds to a separate wallet on Tuesday. Read More Binance registers as ‘reporting entity’ in India after $2.25 million fine Binance has registered as a “reporting entity” with India’s Financial Intelligence Unit (FIU), allowing the world’s largest cryptocurrency exchange to operate in India after being blocked since January. Read More Ledger taps Revolut for crypto payments in Europe UK Fintech giant Revolut has teamed up with hardware wallet firm Ledger to expand cryptocurrency payment options in specific European Economic Area (EEA) countries. Read More Aussie broker TMGM extends sponsorship deal with Chelsea FC TMGM, or Trademax Global Markets, and Premier League club, Chelsea FC, have struck up a multi-year extension of their partnership. Read More Trading 212 expands with acquisition of Germany’s FXFlat Bank London-based online broker Trading 212 has acquired FXFlat Bank GmbH, a multi-asset broker based in Germany and regulated by BaFin. Read More Funds for Traders shutters as Eightcap pulls plug on prop firms Funds for Traders announced that it is shutting down all operations permanently after Australian broker Eightcap announced it will stop serving proprietary trading firms. Read More Bybit secures VASP registration in Argentina Bybit has registered as a Virtual Asset Service Provider (VASP) and card operator in Argentina in a move that furthers its expansion plans into the Latin American country. Read More ACY launches proprietary trading platform amid ACYLogix’s IPO plans ACY Securities has launched a proprietary trading platform, built from the ground up, which represents a significant step towards the IPO plans of its holding company, ACYLogix. Read More  

Liechtenstein-based prop trading firm, The Trading Pit, has launched its Prime Programs for CFDs and futures. The company says the new offering responds directly to feedback from its trading community, providing traders at all levels with flexibility, higher and more customized options. The Prime CFDs Program includes features such as the ability to withdraw profits over $100 without needing to meet a profit target, and withdrawals can be requested every 14 days. The program also offers an 80% profit share across all Prime Challenges, with the option to choose between 1-Phase and 2-Phase Challenges. One of the key offerings is the CFD Prime 100K Challenge, priced at $569. The program also includes a Prime Scaling Plan that increases account balances by 25% every quarter for consistent traders. The Prime Futures Program is tailored specifically for futures traders, offering a payout structure based on profits across multiple trading days, a daily pause instead of an immediate breach, and an end-of-day balance trailing maximum drawdown. This program is also competitively priced, with lower initial challenge costs and an 80% profit share. “We’re excited to introduce our Prime Programs, which reflect our commitment to our traders,” said Daniela Egli, CEO of The Trading Pit. “These programs are based on your feedback, providing more choices, flexibility, and opportunities for success. Stay tuned for more prop firm news as we continue to innovate and improve our offerings.” The Trading Pit, headquartered in Liechtenstein with offices in Spain and Cyprus, allows traders to develop their skills on demo trading platforms, offering up to 80% of simulated profits through various trading challenges. Proprietary trading, commonly known as “Prop Trading,” is when a firm’s traders use the company’s own money to make trades instead of executing trades on behalf of clients. This model benefits traders by giving them access to a higher capital than their personal actual balance allow. The Trading Pit is not alone in this venture. The broker is part of a growing list of firms that have launched a prop firm or funded trader program. Notable names in the FX industry such as IC Market,s Axi, Oanda, and Hantec Markets have already embarked on similar paths, alongside smaller entities like Raise FX and YaMarkets.