Digital Vega, the FX Options e-trading platform and provider of FX Options trading solutions, announced today (Tuesday) that its service is now integrated with FactSet’s FX execution management system, Portware.Expanding Reach with IntegrationThis integration will expand Digital Vega’s distribution and client base. FactSet will now be able to offer FX Options in addition to its existing coverage of Fixed Income, Equities, Futures, and FX.The move towards regulation and efficiency is driving increased automation in FX Options workflows. This automation is leading to a rise in electronic trading volumes. Asset Managers are seeking to enhance workflow efficiencies and are increasingly utilizing electronic trading for FX Options alongside other asset classes.“Growing regulatory pressure and increasing competition is driving demand for more automated and efficient solutions. By partnering with FactSet we are able to extend our coverage to large Asset Managers, which will deepen liquidity for the benefit of all our clients." "We are fortunate to be recognised as a leader in our field, and as a specialist provider of FX Options technology we have successfully automated some of the most complex trading workflows. We look forward to continuing our collaboration with FactSet," said Mark Suter, Executive Chairman and Co-Founder, Digital Vega. FactSet leverages Digital Vega partnership to expand into FX optionshttps://t.co/zqFZNYoF05— The TRADE News (@theTRADEnews) June 25, 2024FX Options AutomationFactSet’s Portware platform offers Asset Managers a unified method of execution across various assets. It combines deep liquidity with high levels of automation. By integrating with Digital Vega, clients can automate complex FX Options workflows and access pricing for a wide range of currencies from a large group of Liquidity Providers.John Marchese, Head of FX Sales at FactSet commented, “As the FX Options market has become increasingly electronic, we wanted to work with a best-in-class e-FX Options provider in that market. Adding FX Options to Portware was a logical decision, which will provide our clients with high levels of workflow automation by our EMS, combined with a deep pool of liquidity from Digital Vega.” This article was written by Tareq Sikder at www.financemagnates.com.

Augmentum Fintech plc, a European publicly listed fintech fund, announced Tuesday a £2.6 million ($3.3 million) investment in LoopFX, a London-based foreign exchange (FX) trading platform. LoopFX Secures Augmentum Backing, Aims to Reduce FX Trading CostsLoopFX, which offers a unique matching solution for large spot FX trades, enables traders to match in real-time with other asset managers and banks at mid-market rates. The platform's technology aims to reduce trading costs and enhance best execution processes while minimizing information leakage.Tim Levene, CEO of Augmentum Fintech, will join LoopFX's board following the investment. In a statement, Levene expressed optimism about the opportunity in the capital markets sector, saying, "We believe LoopFX offers a textbook example of a fintech operating in the capital markets in partnership with blue chip financial institutions."LoopFX's board includes several industry veterans. John Sievwright, who previously served as Chief Operating Officer, International, at Merrill Lynch, holds the position of Chairman. The board also comprises Martin Gilbert, current Chairman of Revolut and Founder of Aberdeen Asset Management, as well as Ivan Ritossa, who formerly sat on the executive committee of Barclays Capital.Augmentum's investment is expected to fuel LoopFX's growth as it continues to develop its new protocol in the FX market. The move aligns with Augmentum's strategy of investing in fast-growing fintech businesses that are disrupting the financial services sector.“LoopFX brings efficiencies in trading and price discovery to the FX market, which in turn will help market participants comply with best execution requirements,” Levene concluded.Peer-To-BankThe investment comes on the heels of LoopFX's successful integration of its “Peer-To-Bank” matching technology into leading forex platforms, including State Street's FX Connect and FactSet's Portware. According to the company, its products allow traders to identify large trades exceeding $10 million in real-time, facilitating matches with other buy-side institutions and providing banks with a "secure channel to display their market axes." The integration with State Street’s FX Connect occurred in September 2023. As a result, LoopFX's functionality will be accessible through FX Connect, which is part of the GlobalLink suite of e-trading platforms, technology, and workflow solutions that automate the entire FX trading process. Additionally, a collaboration with FactSet was established at the beginning of this year. LoopFX supports Portware, a multi-asset execution management system utilized by leading asset managers. This article was written by Damian Chmiel at www.financemagnates.com.

The Case for Launching a White Label Crypto Exchange in 2024The digital asset industry has surged in 2024, creating unparalleled opportunities for investors and businesses alike. The cryptocurrency market is maturing, with increased institutional interest and technological advancements driving enhanced scalability and user adoption. Market confidence is at an all-time high, creating an ideal environment for launching or expanding a crypto exchange.These developments set the stage for exceptional projections going into 2025. With the digital asset market poised for continued expansion, this year is the ideal time to launch a crypto exchange. In this article, we will explore why launching an exchange in 2024 is a strategic move for those looking to operate their own exchange or add crypto functionality to their pre-existing platform, and why Shift Markets provides the prime solution for achieving these goals.2024: A Pivotal Year in the World of CryptoTransformative growth has been the hallmark of the cryptocurrency market in 2024, driven by key developments reshaping the digital asset industry. The approval of spot Bitcoin and Ethereum ETFs has catalyzed significant institutional investment, bringing in substantial market liquidity and fostering stability. This influx of interest is enhancing the market's credibility and maturity, drawing more participants from both retail and institutional sectors.Regulatory clarity is also making significant strides, creating a more predictable environment for crypto businesses. Favorable court rulings and ongoing regulatory discussions are reducing uncertainties. Corporate and institutional adoption of cryptocurrencies is accelerating, driven by new accounting treatments and regulatory frameworks. Additionally, major technological advancements, such as Ethereum’s Dencun upgrade and new Layer 2 solutions, are increasing transaction speeds and reducing costs. These factors create a solid foundation for owning and operating a crypto exchange, offering significant growth and profitability potential in the crypto trading industry.Shift Markets' Exchange Solution: The Complete Turnkey PlatformFor those looking to take advantage of this ripe opportunity, Shift Markets' white label crypto exchange solution stands out as the complete turnkey package. This comprehensive platform supports both crypto spot and derivatives trading, offering a versatile solution that meets the diverse needs of traders.Ready for operation from the first day of deployment, the platform ensures that users can start trading immediately with minimal setup. By leveraging Shift Markets' white label platform, operators can enter the market with tried-and-tested technology, setting themselves up for profitability and success.The Building Blocks of Shift's White Label Crypto Exchange PackageShift Markets' white label crypto exchange package is expertly crafted to provide a comprehensive, top-tier trading solution. By integrating Shift's proprietary matching engine, support for both spot and leverage trading, and pre-sourced liquidity pooled from the world’s leading exchanges, the platform delivers a highly competitive exchange experience, positioning users for success in the competitive crypto market.Proprietary TechnologyAt the heart of Shift Markets' white label solution lies proprietary technology, featuring an industry-leading matching engine seamlessly integrated with Shift’s market maker. This advanced matching engine, engineered for high-speed, low-latency trading, enables rapid order execution and optimal pricing. Together, they complement each other, enabling high-volume trading with swift order execution and greater market depth. Additionally, the market maker has the capability to create synthetic pairs by crossing different markets with a shared asset, enhancing trading opportunities and liquidity.Pre-Sourced LiquidityOne of the standout features of Shift Markets' white label crypto exchange is the access to pre-sourced liquidity from the world's leading exchanges. This aggregated liquidity ensures that trades can be executed swiftly with great market depth, even during high-volume periods. The deep liquidity pools from top exchanges like Coinbase, Binance, and Kucoin provide competitive pricing and minimal slippage, making it an ideal solution for high-volume trading.Full Backoffice ControlShift’s exchange platform provides full backoffice control, allowing exchange operators to manage every aspect of their platform with precision. This includes user account management, compliance tracking, trading activity monitoring, and financial reporting. With powerful backoffice capabilities, operators can ensure they have full control over every component of their exchange, manage spreads, maintain regulatory compliance, and deliver a seamless trading experience to users.Combined Spot and Derivatives Trading PlatformAs highlighted in a recent Finance Magnates article, Shift's white label platform integrates advanced spot and derivatives trading capabilities. By offering both within a single platform, users can trade a variety of order types without needing to utilize multiple exchanges. This unified approach attracts a broader range of clients—from traditional investors to speculative traders—and equips them with tools to maximize returns and manage risks effectively.The platform includes integrated hedging tools, leverage trading options, multiple order types (Market, Limit, Stop Loss, Take Profit), and an enhanced profit simulator that helps traders forecast potential market changes and visualize their impact on earnings. By offering crypto derivatives trading, your clients can leverage their positions, amplifying potential profits and attracting speculative, highly-active traders. With these advanced trading types, Shift's white label platform enables you to differentiate yourself from competitors, ultimately increasing your platform's profit potential.Expanding Existing PlatformsWhether launching a standalone exchange platform or upgrading an existing one, Shift’s exchange technology is adaptive to various needs. For established brokerages, exchanges, and businesses, upgrading a platform to include crypto trading functionality presents a significant opportunity.For those needing upgraded market making, expanded trading functionality, or enhanced backoffice control, Shift’s white label exchange solution seamlessly integrates with existing infrastructure. For example, an FX brokerage looking to expand its product offerings can integrate Shift Markets' platform to include crypto trading, attracting new clients and increasing revenue by offering a wider range of trading options.Achieving New Levels of Crypto Trading FunctionalityLaunching a white label crypto exchange with Shift Markets means stepping into a market primed for exceptional profitability. Shift’s solution provides ready-to-go liquidity and advanced derivatives functionality, ensuring high-caliber trading from day one. With our advanced technology and comprehensive backoffice control, your exchange is set up for success from the first day of operation. Take the plunge and position your business for unprecedented growth in the digital asset industry. Reach out to Shift Markets today to learn more and start your journey to becoming a leader in the crypto trading industry. This article was written by FM Contributors at www.financemagnates.com.

The UK’s Financial Conduct Authority (FCA) has imposed restrictions on the operational license of London Capital Group Ltd (LCG), a retail forex and contracts for differences (CFDs) broker owned by the now-bankrupt FlowBank. The restrictions follow the Swiss regulator’s intervention into FlowBank, initiating bankruptcy proceedings against it.Actions against LCG Following FlowBank’s Bankruptcy“LCG has engaged an independent firm to establish the current financial status of the UK entity,” a message on the LCG’s UK website shows. “While this assessment is ongoing, LCG has applied to the FCA to place certain restrictions on our regulatory permissions.”LCG is owned by FlowBank, founded by former LCG CEO Charles-Henri Sabet. Previously, LCG was part of the London Capital Group Holdings, which encountered trouble after delisting from the London Stock Exchange and NEX Exchange in 2018. That same year, Charles-Henri Sabet, then CEO, bought LCG, separating it from the troubled London Capital Group Holdings, which went into liquidation.Sabet made structural changes in LCG's ownership after launching Switzerland-based FlowBank in 2020. Last year, the UK unit of LCG altered its business model, becoming an introducing broker for IG, once its rival company.No Onboarding of ClientsAccording to the FCA’s registry, all restrictions on LCG were imposed on 13 June 2024, the same day Switzerland’s Financial Market Supervisory Authority revoked FlowBank’s license and put the company into bankruptcy.The FCA’s actions against LCG include restrictions on onboarding new clients or introducing any new client under its introducing broker business. Furthermore, it cannot accept new client money or carry out any regulated activities. Additionally, the regulator also imposed asset restrictions on the company, prohibiting it from disposing of or diminishing any of its own assets or customer funds, whether in the UK or outside.“As part of this voluntary arrangement, we are not currently conducting new regulated activity,” the notice added on the LCG’s website. The company urges its “legacy clients who continue to hold balances directly” with the company to withdraw their funds from the platform.“Your funds continue to be held in ring-fenced, designated client money accounts,” LCG noted, adding that “If you are an existing client of LCG’s Introducing Broker/Partnership business holding an account with one of our Partner firms, you are unimpacted by these developments – your account continues to operate as normal.”Apart from the FCA-regulated entity, LCG has another sister entity licensed in the Bahamas. However, that unit does not display any notice of regulatory restrictions.Meanwhile, the majority shareholder of FlowBank heavily criticized the actions of the Swiss regulator, calling it a violation of rights. It also highlighted that it would take “all necessary procedures” against the regulator, indicating a possible lawsuit. This article was written by Arnab Shome at www.financemagnates.com.

Middle Eastern neobroker amana has appointed Jack Saidy as the Director of Operations to bolster its presence in Lebanon. Saidy brings over a decade of experience in financial markets to his new role. Previously, he was the Director at Advanced Markets, where he focused on training sales teams and fostering customer relationships.Focussing on the Lebanese MarketAccording to the company's statement, his understanding of the Lebanese and MENA markets positions him well to drive amana's growth in the region. amana's platform offers access to over 5,500 assets, enabling customers to trade physical and leveraged US and MENA shares, commodities, currencies, and more. Commenting about his appointment, Jack Saidy: "amana offers a premium product with top-notch customer service, support, and ethical trading, filling a market gap in Lebanon. amana allows customers to trade all markets on their platform of choice (app, web, META), while providing 24/6 customer support from our office in downtown Beirut.""Regulated by multiple entities, including CMA, amana takes additional measures beyond regulatory requirements to promote fair and ethical trading. From highlighting leveraged assets to providing world-class education for free within the app, amana promotes healthy trading and investing practices for the long-term benefit of its customers. This makes me proud to help bring amana to our customers in Lebanon, and fill this market gap."About amanaAmana is a neobroker in the Middle East that provides traders and investors across the MENA region with direct access to global and regional financial markets. With offices in key locations like Beirut, Dubai, and Limassol, amana is regulated by several entities, including DFSA in the UAE, FCA in the UK, CYSEC in Europe, CMA in Lebanon, LFSA in Malaysia, and FSC in Mauritius.Last December, amana appointed Haris Loucaides as the Chief Financial Officer. Loucaides succeeded Mazen Yazbeck, who held the CFO role for over 11 years, after his unexpected demise. Apart from the CFO role, Yazbeck led the firm’s human resource department. He joined amana in 2012 after dedicating more than ten years to GCC investment banks and audit firms. This article was written by Jared Kirui at www.financemagnates.com.

IG US, a forex broker, announced today the rebranding of its brokerage and platform technology to tastyfx. This move aims to offer a more aligned experience for their US-based customers and to integrate FX trading more closely.Same Platform, New FocusDespite the name change, the trading platform will remain largely the same. Enhancements will continue to be made, providing improved forex trading technology. The rebrand to tastyfx aims to create a forex-focused brand specifically for US clients, offering fast technology, zero commissions, and supportive customer service.“Changing our name to tastyfx marks the beginning of a new chapter for us,” said Peter Mulmat, CEO of tastyfx. “We’ve seen incredible growth in our business over the past few years, but tastyfx will go even further in offering forex traders in the US an unparalleled experience.”Meanwhile, IG Group initiated a waiting list for options trading in the UK through its tastytrade brand, following plans in development for over two years, as reported by Finance Magnates. The move aims to expand their market offerings in line with strategic objectives. The launch event in early June last year in London, supported by industry leaders Cboe and CME Group, signals their official entry into UK options trading. Despite global interest in options trading, IG Group faces challenges adapting the US model to comply with UK regulations, which prohibit certain revenue practices.Forex Trading Gains PopularityThe US retail forex market is expanding rapidly, with a 6% growth in the past year. Traders are increasingly turning to forex for direct exposure to global economic shifts, including inflation rates, central bank interest rate decisions, and geopolitical events. Forex markets offer a diversified trading experience compared to traditional stocks and bonds.JJ Kinahan, CEO of IG North America and President of tastytrade, stated: "The tastyfx rebrand is another illustration of how we’re evolving our company identity and our brands, while continuing to offer the fast, easy forex trading experience that our customers love.” This article was written by Tareq Sikder at www.financemagnates.com.

Investment management firm VanEck has set a fee of 0.2% for its proposed spot ether exchange-traded fund (ETF), Reuters reported. This announcement, detailed in a US Securities and Exchange Commission (SEC) filing, comes at a time of significant regulatory advancements for cryptocurrency ETFs.Paving the Way for Ether ETFsLast month, the SEC approved applications from major exchanges such as Nasdaq, CBOE, and NYSE to list ETFs tied to the price of ether, the second-largest cryptocurrency by market capitalization. This important approval could allow these products to begin trading by the end of the year, offering new opportunities for investors.VanEck is one of nine issuers, including notable names like ARK Investments/21Shares and BlackRock, seeking to launch these Ether ETFs. The competition in this sector highlights a growing interest in providing investors with easier access to cryptocurrency investments without the direct ownership and associated risks of holding cryptocurrencies like Ethereum.A spot ether ETF like the one proposed by VanEck allows investors to gain exposure to ether's price movements without managing and storing the digital assets themselves. This simplification is expected to attract a broader range of investors seeking to avoid the technical and security challenges of direct ownership of crypto.Last year, VanEck entered the Ethereum blockchain space after launching VanEck Ethereum Strategy ETF (EFUT). The company mentioned that this fund, structured as a C-Corp, seeks to enhance how investors could benefit from the future of Ethereum (ETH. EFUT focuses on ETH futures contracts and offers investors an investment opportunity that reportedly provides a tax advantage in the long term.VanEck Ethereum Strategy ETF Specifically, EFUT invests in standardized, cash-settled ETH futures contracts traded on commodity exchanges registered with the CFTC. Initially, the fund will focus on ETH futures traded on the Chicago Mercantile Exchange.Last month, the crypto industry achieved a significant milestone when the SEC approved the listing of ether ETFs on American exchanges. However, the agency has yet to approve trading of these assets, Finance Magnates reported.The regulator must approve the S-1 forms filed by potential fund issuers for these assets to be allowed to trade. The S-1 registration forms contain detailed information about new securities to be offered to the public. For ETFs, these forms include the fund’s structure, management, and investment strategy, along with details on the methods of tracking the performance of the underlying assets. This article was written by Jared Kirui at www.financemagnates.com.

Social trading has emerged as a significant trend in the world of retail trading, transforming the way traders engage with the markets. The Finance Magnates Pacific Summit (FMPS) promises to be a pivotal event where this trend will be thoroughly examined. This premium event, held on August 27-29 in Sydney, Australia, is quickly gathering influential leaders from around the finance and trading industry. Prospective attendees can expect to engage in a comprehensive hub that will explore the latest developments, opportunities, and challenges in social trading.FMPS is all about expanding one’s global reach or footprint through unique networking opportunities. Nowhere else in Asia-Pacific (APAC) will attendees have the chance to speak to so many different parties, speakers, and talent, all under one roof. This is one event you cannot afford to miss this August! Registration for FMPS is already live and can be accessed via the following link.Social Trading Takes Center Stage at FMPSSocial trading leverages the power of social networks to create a collaborative trading environment where individuals can share strategies, insights, and trade information. At the FMPS, experts will take a deep dive into the mechanics of social trading platforms, which allow traders to follow and mimic the trades of experienced investors. This practice democratizes trading, making it accessible to a broader audience and enabling novice traders to learn from seasoned professionals.One of the primary topics at the summit will be the impact of social trading on market dynamics. Social trading has the potential to increase market liquidity and transparency, as it encourages more participation from retail traders. By discussing case studies and data-driven analyses, speakers will highlight how social trading can lead to more informed trading decisions and reduced information asymmetry in the retail trading industry. These insights will be crucial for understanding how social trading is reshaping market behaviors and the implications for future trading strategies is. Prospective attendees can stay tuned over the next month for the full rollout of the agenda, covering upwards of four industry verticals.Moreover, the role of technology in facilitating social trading will also be a key focus. Advanced algorithms and machine learning play a critical role in analyzing vast amounts of trading data to identify successful strategies that can be shared across the network. At the summit, technology experts will showcase the latest innovations in trading algorithms, AI-driven analytics, and automated trading systems that underpin social trading platforms. These technological advancements are not only enhancing the efficiency of social trading but also providing robust risk management tools to protect traders from significant losses.Regulation also remains a critical aspect of social trading, and this will be extensively covered at the summit. Different jurisdictions have varying approaches to regulating social trading platforms, which impacts their operation and the protection offered to traders. Regulatory experts will discuss the current state of play, highlighting the challenges and opportunities that arise from different regulatory frameworks. This discussion will be vital for platform providers and traders alike, as it will provide clarity on compliance requirements and best practices for operating within legal boundaries.Another significant topic of discussion will be the psychological aspects of social trading. The summit will feature sessions with behavioral finance experts who will explore how social influence and herd behavior can impact trading decisions. Understanding these psychological factors is essential for traders to develop strategies that mitigate the risks associated with following the crowd. By examining the behavioral patterns that drive social trading, attendees will gain insights into how to manage emotions and biases that can lead to suboptimal trading outcomes.FMPS to Focus on Retail Traders FMPS will also provide a platform for networking and collaboration among traders, technology providers, and financial institutions. Attendees will have the opportunity to engage in interactive workshops, panel discussions, and live demonstrations of social trading platforms. These sessions will facilitate the exchange of ideas and best practices, fostering a community of traders who are better equipped to navigate the complexities of the retail trading market.The summit will address the educational needs of traders at different levels of experience. For novice traders, there will be introductory sessions that explain the fundamentals of forex trading and how to effectively use social trading platforms. More experienced traders will benefit from advanced workshops that cover sophisticated trading strategies, risk management techniques, and the integration of AI and machine learning into trading practices. This tiered approach ensures that all attendees, regardless of their expertise, can derive value from the summit.One of the anticipated highlights of FMPS will be the keynote speeches by prominent figures in the retail trading community. These industry leaders will share their experiences and insights on how social trading has evolved and its future trajectory. Their perspectives will provide a strategic overview of the opportunities and challenges that lie ahead, offering valuable guidance for traders and platform providers looking to capitalize on this growing trend.Opportunities for All AttendeesThe business opportunities presented by social trading will also be a focal point. Entrepreneurs and investors will discuss the potential for growth in the social trading market, exploring areas such as platform development, market expansion, and investment in fintech innovations. By identifying the key drivers of success in social trading, these sessions will highlight lucrative opportunities for businesses and investors looking to enter or expand their presence in this sector.FMPS will feature a showcase of the latest social trading platforms and technologies. Attendees will have the chance to interact with these platforms, understanding their features, functionalities, and benefits. This hands-on experience will be invaluable for traders and investors looking to adopt new technologies to enhance their trading performance and operational efficiency.The ethical considerations of social trading will also be scrutinized. As with any financial innovation, social trading comes with its own set of ethical dilemmas, such as the potential for market manipulation and the responsibility of platform providers to ensure fair and transparent trading practices. The summit will include debates and discussions on how to address these ethical issues, promoting a balanced and responsible approach to social trading.In conclusion, FMPS will be an essential event for anyone involved in the retail trading industry. By bringing together a diverse group of experts, traders, and technology providers, the summit will offer a comprehensive exploration of social trading trends and opportunities.From understanding the latest technological advancements and regulatory challenges to exploring the psychological and ethical dimensions of social trading, attendees will gain a deep and nuanced understanding of this transformative trend. This article was written by Jeff Patterson at www.financemagnates.com.

Kraken MTF, the UK's first Financial Conduct Authority (FCA)-authorized crypto derivatives trading venue in Europe, has announced a strategic partnership with Copper, a firm specializing in digital asset custody, collateral management, and prime services. The collaboration aims to offer off-venue settlement services tailored for institutional clients.Multi-Exchange ConnectivityInstitutional investors require robust multi-exchange connectivity to mitigate risks, improve price discovery, and access liquidity efficiently. Copper's ClearLoop solution facilitates this connectivity by allowing clients to manage funds and trade virtual balances across exchanges, with settlements conducted on Copper's infrastructure.Through ClearLoop, institutional clients can now trade on Kraken MTF, a venue known for its round-the-clock crypto derivatives trading capabilities. This integration empowers institutions to manage risk effectively and hedge positions in a derivatives market that operates continuously throughout the year.Mark Jennings, CEO of Kraken MTF, said: “For the past few years, volumes in crypto derivatives have regularly exceeded those seen in the spot market and institutions are driving most of this new activity. Key infrastructure developments, like the Kraken MTF integration with ClearLoop, will form the baseline as institutional engagement in this asset-class continues to increase."Boosting Efficiency for Institutional InvestorsKraken acquired Crypto Facilities in 2019, rebranding it as Kraken MTF, which now serves as a key partner for institutions seeking exposure to digital asset prices. As a multilateral trading facility, Kraken MTF meets all regulatory and compliance standards required by institutional investors.ClearLoop enhances capital efficiency for institutional investors by enabling instant asset delegation, optimizing collateral management, and simplifying operational workflows. Moreover, the direct settlement on Copper’s infrastructure bypasses blockchain-level settlements and associated network fees, offering cost savings to investors.ClearLoop currently supports nine live exchanges, including Kraken MTF, OKX, BYBIT, Deribit, BIT, Gate.io, BITFINEX, Bitget, and PowerTrade, with plans to integrate Bitstamp and Bitmart in the near future. Dmitry Tokarev, CEO at Copper.co commented, “Together, we are shaping the future of financial market infrastructure by revolutionising liquidity and security for institutional clients. Our shared vision is to build a resilient and innovative ecosystem that sets new standards. Copper is excited to embark on this transformative journey alongside the Kraken team.” This article was written by Tareq Sikder at www.financemagnates.com.

Coinbase is the most impersonated brand in the cryptocurrency sector, Cointelegraph reported, citing a recent study. Phishing attacks, which trick investors into sending digital assets to scammers, predominantly target Coinbase among US crypto firms. Over the past four years, 416 phishing attacks using the Coinbase brand have been reported.Growing Threat of Impersonation ScamsSome of the tactics scammers use include sending emails purported to be legitimate communication from the cryptocurrency exchange. Such emails are sometimes part of a phishing scheme, a tactic that has made Coinbase the most impersonated brand in the crypto industry.This revelation is part of a broader report highlighting the rampant impersonation of major brands by scammers, targeting unsuspecting victims in the digital finance world. The Mailsuite report, which analyzed over 1.14 million scams, revealed that 249,000 incidents involved attackers impersonating a company. Among these, Coinbase stood out due to its high profile in the cryptocurrency market. With over $1.8 billion in daily trading volume and a 10/10 trust score, Coinbase's popularity makes it an attractive target for scammers.While Coinbase leads in the crypto sector, traditional finance, and tech giants are not immune to these threats. Meta, Facebook's parent company, was impersonated in at least 10,457 reported scams over the past four years, making it the most targeted non-crypto brand. Following Meta, the US Internal Revenue Service was impersonated in 9,762 scams.Enhancing Security ProtocolsScammers often use sophisticated techniques to mimic legitimate communications, making it crucial for users to verify the authenticity of any unsolicited requests for personal or financial information. Both Coinbase and Meta face significant challenges in combating these impersonation scams. Efforts to educate users, enhance security protocols, and swiftly address reported incidents are ongoing.A recent study by Finance Magnates and FXStreet corroborates the heightened increase in scams. It revealed that as many as 38% of traders who lost funds mostly encountered clone brokers and signal providers, as compared to any other type of scam. 631 traders participated in the survey, sharing their experiences with online scams.Following the clones of legitimate platforms, investment and Ponzi schemes were the other key areas targeted by scammers to lure their victims. About 35% of the traders who lost funds encountered such scams. When it comes to phishing emails or messages, 19% of the traders who lost funds encountered such scams, while 8% fell victim to fake news. This article was written by Jared Kirui at www.financemagnates.com.

The global cryptocurrency market cap currently stands at an astonishing $2.36 trillion, with a daily trading volume of around $95 billion, according to data from CoinMarketCap. These impressive figures highlight the significant market growth and increasing acceptance of digital currencies, especially following the recent approvals of Bitcoin ETFs in the US, Canada, Germany, Brazil, Australia, and Hong Kong, as well as the approval of Ethereum ETFs by the United States Securities and Exchange Commission (SEC).With these advancements, crypto brokerage agencies and institutional investors are seeking access to superior crypto liquidity solutions. Rising to this challenge, B2Prime has expanded its liquidity services to include six new high-tier crypto CFD pairs. According to the company, this expansion directly responds to the high demand from trading professionals and market operators.The following new crypto CFD pairs became available at 6 AM GMT on Monday, June 3rd:TON/USD24-Hour Trading Volume: $470MMarket Cap: $18BTotal Supply: 5.1B TONFET/USD24-Hour Trading Volume: $240MMarket Cap: $1BTotal Supply: 2.6B FETRNDR/USD24-Hour Trading Volume: $300MMarket Cap: $2.8BTotal Supply: 532M RNDRCAKE/USD24-Hour Trading Volume: $53MMarket cap: $600MTotal Supply: 266M CAKEICP/USD24-Hour Trading Volume: $130MMarket Cap: $3.8B Total Supply: 520M ICPAPT/USD24-Hour Trading Volume: $235MMarket Cap: $3.1BTotal Supply: 1.1B APTNow, B2Prime boasts a liquidity portfolio that includes 97 crypto CFD pairs. These pairs incorporate high-performing crypto coins and blockchains, such as Solana, Avalanche, Polkadot, Polygon, Uniswap, and Algorand.“We constantly monitor the market, respond to client feedback, and track trends to tailor our solutions precршisely. For instance, following the client feedback, we've increased the leverage on BTC/USD and ETH/USD, the two most popular crypto CFD pairs, to 1:50. Today, we're adding new pairs—each selected based on demand, relevance, volume, and potential—to ensure our offerings meet both market needs and client expectations.” – Nick Chrysochos, Executive Director of B2PrimeAbout B2PrimeB2Prime is the PoP liquidity provider offering a wide-ranging selection of crypto CFD pairings. Their crypto liquidity solutions are the backbone for a multitude of market professionals and institutional clientele, including hedge funds, algorithmic trading funds, alternative investment funds, asset managers, family offices, property trading firms, investment banks, broker-dealers, and other financial intermediaries. B2Prime's liquidity stands out for its connectivity options, including OneZero Hub, Prime XM XCORE, and cTrader.Apart from crypto CFDs, B2Prime's portfolio extends to multi-asset offerings, spanning six asset classes—Forex, indices, commodities, precious metals, and NDFs CFDs—and including over 220 instruments. Liquidity is sourced from premium providers and features competitive spreads, minimal slippage, and swift execution. This article was written by FM Contributors at www.financemagnates.com.

Intercontinental Exchange, Inc. (NYSE: ICE) announced plans Monday to introduce a clearing service for US Treasury securities and repurchase agreements, leveraging its experience in central clearing and fixed-income markets.ICE Wants to Enhance Treasury Market TransparencyThe move comes in response to the US Securities and Exchange Commission's (SEC) recent mandate to expand clearing in the Treasury securities market. ICE aims to offer this new service using its existing clearing house, ICE Clear Credit."We believe ICE Clear Credit is strategically positioned to offer Treasury clearing services that will promote competition and help facilitate the SEC's policy objective of bringing increased transparency and standardized risk management to the Treasury securities market,” said Stan Ivanov, the President of ICE Clear Credit.The new Treasury clearing service will operate independently of ICE's current credit default swap (CDS) clearing service, with its own rulebook and financial resources.ICE Clear Credit, established in 2009 during the financial crisis, has become a leading global clearing house for credit derivatives. It currently offers clearing for over 650 Single Name and Index CDS instruments. It has cleared approximately $200 trillion in two-sided notional amounts, with open interest exceeding $1.75 trillion.ICE seeks SEC approval to clear US Treasury bonds amid expanding market regulation. Enhancing competition & reliability in financial markets.#SEC #ICE #TreasuryBonds #EconomyPolicy #AdaniGroup #StockMarket #Adani #AdaniPorts #BSE #Sensex #Wipro #SEBI #Nifty #Groww #Quantfunds pic.twitter.com/Qr7s4jFmBt— Wealth Redefine (@RedefineWealth) June 24, 2024"As we look to add Treasury clearing to the breadth of services we offer for fixed income markets, we will leverage the successful playbook we developed in the past to offer an industry-trusted clearing solution,” added Chris Edmonds, the President of ICE's Fixed Income and Data Services, commented.As an SEC-registered Securities Clearing Agency and a designated systemically important financial market utility, ICE Clear Credit brings regulatory experience to this new venture. The company aims to apply its expertise in navigating regulatory requirements to the Treasury clearing service.ICE operates across a wide range of markets, as exemplified by its collaboration with the cryptocurrency firm Blockstream at the end of last year, enabling crypto options data to be introduced.A month ago, ICE agreed to pay a $10 million penalty to resolve charges that nine of its wholly-owned subsidiaries, including the New York Stock Exchange (NYSE), failed to promptly notify the SEC about a cyber intrusion, as required by Regulation Systems Compliance and Integrity. This article was written by Damian Chmiel at www.financemagnates.com.

ATFX, a leading global online trading broker, is pleased to announce the appointment of John Bogue as the Director of Institutional Operation. With over 30 years of experience in the FX market, John brings invaluable expertise in trading, prime brokerage, and e-brokerage to ATFX.John’s extensive background includes significant roles at NatWest Markets Plc and Euronext FX Inc., formerly FastMatch. His deep understanding and seasoned oversight have been honed through his exposure to all facets of the FX asset class, including operations, risk management, and sales functions.John’s prior position was as Director for EMEA FX at TraderTools. He was instrumental in rolling out their PriceOn™ algo offering across Europe, the Middle East, and Africa. His work significantly enhanced the technology's penetration among banks and brokers within these regions."We are thrilled to welcome John Bogue to our team," said Joe Li, Chairman at ATFX. "John’s relentless focus on accuracy, clarity, and prioritization of clients and team will be immensely beneficial as we continue expanding our capabilities and services."This recruitment is a strategic step for ATFX after their recent integration of PriceOn™ from TraderTools. With AI technology and algorithms, ATFX can optimize liquidity flow and provide top-notch services for institutional and retail clients. Competitive pricing accelerates global business growth and meets clients' dynamic needs worldwide. With the addition of John Bogue and ATFX's recent hires of FX industry masters Drew Niv as the Chief Strategic Officer, Siju Daniel as the Chief Commercial Officer, Hormoz Faryar as Managing Director of Institutional, and Aditya Singh as Business Development Director International, this reaffirms ATFX’s commitment to long-term success and solidifies its position as a dominant player in the global financial marketplace.About ATFXATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities, including the UK's FCA, Cypriot CySEC, UAE's SCA, Australian ASIC, and South African FSCA. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX provides exceptional trading experiences to clients worldwide.For further information on ATFX, please visit the ATFX website: https://www.atfx.com. This article was written by FM Contributors at www.financemagnates.com.

Liquid staking (LST) and restaking (LRT) have grown in popularity over the past year, thanks to their value proposition in scaling the utility of staked tokens. According to DeFi Llama, the LST ecosystem now enjoys a total value locked (TVL) of over $53 billion, up from $7 billion at the onset of 2023. LRT protocols, on the other hand, have grown to a TVL of $14 billion, barely a year since EigenLayer’s restaking service went live on the Ethereum mainnet.So, why have these two emerging DeFi sectors gotten so much traction, and how can omni-chain synthetic asset protocols, such as the one offered by Sumer.money, enhance their current appeal? To better understand the fundamentals and potential for growth, let’s first distinguish between LSTs and LRTs.Liquid Staking vs Liquid Restaking At their core, LSTs and LRTs were introduced to enable Proof-of-Stake (PoS) validators to generate additional DeFi yield or contribute towards the operations of other blockchain applications using their staked tokens.Simple, yes? What’s worth noting, however, is that although LSTs and LRTs are related to some extent, the two niches are designed to achieve different objectives in the larger DeFi ecosystem.Let’s start with LSTs; the best example of a liquid staking platform is Lido Finance. This DeFi LSD protocol enables interested Ethereum validators to stake their ETH through its liquid staking service and in turn issue them with a liquid staking derivative (LSD) token, stETH. The LSD token can then be used to generate extra DeFi yield in chains that support Lido, including the native Ethereum network, Solana, Moonbeam, Moonriver, and Terra Classic.LRTs on the other hand go beyond the goal of generating more yield; technically, LRT tokens are designed to be used in more secondary blockchain application services. For example, EigenLayer’s asset restaking introduces Actively Validated Services (AVSs). Initially, DApps required their own consensus resources for on-chain validation which is quite costly and resource wasteful; however, with EigenLayer’s AVS, DApps on Ethereum can now tap into the already staked ETH for their validation mechanism without necessarily increasing the amount of resources (staked tokens). But despite this value proposition, LSTs and LRTs are nowhere near their full potential. This is because of some inherent challenges; most notably, compossability is still a limitation. While Lido’s stETH can be used across multiple blockchain environments, the process is still not as seamless. Meanwhile, EigenLayer’s smart contracts are built on Ethereum, leaving out validators in other PoS blockchains that could benefit from LRTs as well. Multi-chain Compossable Synthetic AssetsBy definition, synthetic assets are tokenized digital representations of real world assets or other virtual assets. The whole process of tokenization allows for synthetic assets to be used in on-chain economies all while mirroring or tracking the value of the asset they represent. So, how can this DeFi asset class bridge the compossability gap in LSTs and LRTs? For starters, not all synthetic DeFi assets are designed as multi-chain compatible. However, there are a few examples such as Sumer.money which is taking the game a notch higher with its multi-chain synthetic assets. Think of the credit card experience, you can make a payment through Visa or Mastercard anywhere in the world provided they accept the card. Well, that has not always been the case for crypto. ETH on Ethereum is not the same as ETH on BNB or ETH on Solana. Omni chain composable synthetic assets are designed to break down this barrier. For instance, with Sumer.money, one can deposit their native BTC, ETH, USDT, USDC and in turn mint SuBTC, SuETH, SuUSDT, or SuUSDC. What stands out about these synthetic assets is that they can be used across multiple blockchain environments. Similarly, LST and LRT innovations could benefit from adopting omni chain composability synthetic assets to scale their utility across more PoS chains. Here are a few reasons why these novel DeFi protocols should tap into synthetic assets to expand their reach and make the UX more seamless. Enhanced Liquidity and Market Depth: By design, compossable synthetic assets can be pooled across several blockchain environments. This will enable more capital to find its way into the LST and LRT ecosystem given that it is mostly limited to ETH stakers at the moment. Better Asset Matching and Risk Diversification: With omni chain synthetic assets, LSTs and LRTs will have more capital efficient matching options compared to the current ecosystem where much of the action is limited to a few assets. In addition, stakers will have more flexibility to diversify their risk. Simplified UX and Asset Management: Compossable synthetic assets introduce a simpler interaction experience if one were to manage all their assets from a single protocol without having to undergo cumbersome processes anytime they wanted to access more DeFi opportunities. These are just a few of the reasons why synthetic assets could be a good match for LSTs and LRTs. Of course, it would be ignorant to omit that all these asset classes are closely related, but more importantly, it is crucial to identify the room for growth. While protocol innovation is great, focusing on products that are composable from the get-go might be exactly what DeFi needs to break the fragmentation barrier. This article was written by FM Contributors at www.financemagnates.com.

The industry is counting down towards the next big B2B and B2C event in the Asia-Pacific region in 2024 – the Finance Magnates Pacific Summit (FMPS). This premium event is coming to Sydney, Australia and will be held on August 27-29, drawing some of the biggest talent, brands, and speakers from around the world.With thousands of traders expected to be in attendance, an abundance of networking opportunities, a vibrant exhibition floor, and plenty of entertainment, FMPS is one event you cannot afford to miss.FMPS will be taking place at the International Convention Centre (ICC) in Sydney, Australia, one of the country’s leading venues for conventions, exhibitions, and entertainment. Participants can expect the event to bridge businesses and individuals, offering established and startup businesses in financial services to build meaningful connections, explore innovative possibilities, and showcase their products and services.In addition, the event will retain a heavy focus on the B2C trading space, providing an informative hub for traders and financial markets enthusiasts to connect with leading online brokers, and experts for insights into online trading. Registration for the event is already live and can be accessed by the following link.Tips for Preparing for FMPSAhead of the event helpful hints you'll need to master event preparation and get ready for FMPS and the journey ahead.Define Your Objectives and GoalsBefore attending FMPS, it is essential to establish specific objectives and goals for the event. Consider what your goals may be whether they are to broaden your professional network, obtain industry insights, explore partnership prospects, or showcase your company's products or services. A clear focus will assist you in prioritizing your time and efforts during the event.Get to Know the Upcoming AgendaTo make the most of your experience at FMPS, it can help to map out your time ahead of the event. This includes familiarizing yourself with participating speakers and sessions, the result of which will be rolled out over the next couple weeks. FMPS will feature a curated content agenda, complete with keynote speeches, panel discussions, workshops, and more. Choose the workshops and presentations that resonate the most with your interests, business, goals, or ambitions. Stand Out in the CrowdNetworking opportunities is where you can take advantage and FMPS is the perfect event to make this happen. It can be helpful to prepare a succinct and entertaining elevator pitch in advance that clearly defines who you are, what you do, and what value you bring to the table to leave a lasting impression. Customize your pitch for each audience and practice presenting it confidently. In a busy event, being memorable and concise will help you stand out.Professionalism Starts with Proper Business CardsEven in this digital age, business cards remain an important networking tool. Ensure that your business cards are current, professional, and successfully represent your brand. Include important contact information and consider adding a personal touch to make your card stand out. Take the time to participate in meaningful conversations when exchanging business cards and follow up with your new contacts after the event.Read Industry News to Stay InformedWhat are the latest topics and trends from around the industry? Make sure to follow reliable financial news outlets, sign up for relevant newsletters, and interact on social media with industry influencers ahead of FMPS. Being knowledgeable will enable you to actively participate in discussions, provide insights, and promote yourself as a thought leader.Be PreparedIt is critical to arrive prepared when attending this August in Sydney. Bring basic items such as notepads, pens, device chargers, and other relevant documents or materials. Consider bringing a handy and professional bag that will help you to keep and arrange your items throughout the event. Being prepared will allow you to stay focused and productive.Maintaining Relationships via Follow-upFollow up with the contacts you made during the event as soon as possible following the event. Express your gratitude for the conversations and contacts by sending individual emails or LinkedIn messages. Maintain these connections by remaining in touch, offering pertinent industry news or ideas, and seeking prospective collaboration opportunities. Maintaining relationships after the event is critical for long-term professional development.Finally, mastering event preparation is critical for getting the most of your time at FMPS. You can have the most success out of the event by setting clear objectives, researching and planning, preparing your elevator pitch, and remaining informed. Dress professionally, bring necessary goods, network intelligently, and attend social events to broaden your network. This article was written by Jeff Patterson at www.financemagnates.com.

Mt. Gox, the cryptocurrency exchange that lost 850,000 Bitcoin in 2024, will start repaying its defunct users. The rehabilitation trustee has announced that repayments will be processed in Bitcoin and Bitcoin Cash starting July 2024, according to a written note by the exchange issued on June 24.Repayments to Start SoonAccording to a statement, the rehabilitation trustee will begin the repayment process in due course. The trustee has completed the exchange and confirmation of the required information with certain cryptocurrency exchanges. The repayments will be made through these exchanges.The trustee has requested users to remain patient. The order of the payments will depend on the respective cryptocurrency exchange."We will commence the repayments in the order of the cryptocurrency exchanges with which the Rehabilitation Trustee will complete the exchange and confirmation of the required information. Please wait for a while until the repayments are made," the trustee stated.BREAKING: Mt Gox to start $BTC and $BCH repayments in July. Expect turbulence, especially with Fed week this week too.The Tokyo-based Mt. Gox was hacked in 2011 and went bankrupt in 2014 after it lost 850,000 #BTC. It will repay creditors around $9 billion in #Bitcoin,… pic.twitter.com/VXAzGnLncg— Ken Standfield (Inventor - CTKS Method) (@StandfieldKen) June 24, 2024This announcement comes after a long period of anticipation from the users who lost their funds. The rehabilitation process has been ongoing for several years. The trustee's latest statement suggests that the process is moving forward.Bitcoin's Rise and Fall: The Mt. Gox SagaEarlier, Finance Magnates reported that the demise of Mt. Gox reverberated through the cryptocurrency world in 2014 with the loss of 850,000 Bitcoins valued at $450 million at the time. Founder Mark Karpeles transformed Mt. Gox from a platform for trading collectible cards into a dominant force in Bitcoin transactions, handling over 70% of global volume. Following bankruptcy proceedings in Japan, a civil rehabilitation plan aims to distribute remaining assets, now significantly boosted by Bitcoin's surge, to creditors. Legal disputes and technical challenges have delayed payouts, leaving creditors uncertain despite potential interim payments before the March 2024 deadline. This article was written by Tareq Sikder at www.financemagnates.com.

The UK's Financial Conduct Authority (FCA) has taken decisive action against three former executives of SVS Securities Plc, a discretionary fund manager, for their roles in alleged mismanaging customer pension funds. The regulatory body has imposed fines totaling over £350,000 and issued bans from financial services for the individuals involved.FCA Sanctions Former SVS Securities Executives for Pension Fund MismanagementKulvir Virk, the former CEO and majority shareholder of SVS, has been fined £215,500 and permanently banned from working in financial services. The FCA found that Virk implemented a complex business model designed to funnel customer funds into high-risk illiquid bonds, many of which were operated by SVS directors and Virk's close associates.Demetrios Hadjigeorgiou, who served as the Finance Director and later CEO, and David Stephen, the former Head of Compliance, have been fined £84,600 and £52,100 respectively. Both face bans from holding senior management roles in financial services. The FCA determined that Hadjigeorgiou failed to manage conflicts of interest and ensure proper due diligence, while Stephen neglected his responsibilities to ensure SVS followed regulatory rules."These three individuals and SVS were a central part of a tangled web which concealed the fact that customers' pension money was being invested into high-risk bonds,” Therese Chambers, Joint Executive Director of Enforcement and Market Oversight at the FCA, stated. The FCA's investigation revealed that 879 customers invested a total of £69.1 million through SVS. The high-risk bonds into which these funds were placed have since defaulted, leaving customers unlikely to recover more than a fraction of their investments.“Customers were entitled to trust that SVS would act in their best interests, but it repeatedly prioritized income for itself and its associates,” Chambers added.The SVS Securities saga began nearly five years ago, in August 2019, when the company entered administration and halted all operations. In March of the previous year, the company officially moved from special administration to dissolution.The conclusion of SVS's administration was initially expected in early 2022. However, this timeline was postponed when special administrators received a court order earlier this month to end their oversight. Furthermore, the administrators have sought to cancel SVS's registration with the FCA.Potential Conflicts of InterestAccording to the FCA's findings, SVS's business practices raised concerns about potential conflicts of interest. The regulator alleges that the firm's model included commission structures that were not fully disclosed to clients. The FCA also expressed concerns about the firm's valuation practices when customers disinvested from certain assets. These practices, as described by the regulator, allegedly resulted in significant revenue for SVS (£359,800), which the FCA suggests may have come at the expense of client interests.The FCA's decision underscores the regulator's commitment to protecting consumers and maintaining the integrity of the UK's financial services sector. Chambers emphasized the far-reaching consequences of such misconduct, stating, "The actions of those in charge threatened the ability of their customers to enjoy a secure and comfortable retirement. This kind of behavior has life-changing consequences for consumers."It's worth noting that while Kulvir Virk's penalties are final, Hadjigeorgiou and Stephen have referred their Decision Notices to the Upper Tribunal, where they will present their cases. As such, the findings against these two individuals remain provisional pending the Tribunal's decision. This article was written by Damian Chmiel at www.financemagnates.com.

Mosaic Smart Data and Euroclear have launched Smart Markets, a new data intelligence service aimed at transforming how capital market participants analyze and utilize fixed-income market data.Mosaic Smart Data and Euroclear Unveil AI-Powered Market Intelligence PlatformThe platform, which leverages Mosaic's artificial intelligence (AI) and machine learning (ML) capabilities, processes Euroclear's extensive fixed-income transaction data to provide actionable insights for banks, central banks, debt management offices, corporate treasurers, and investment firms.Smart Markets comes at a time of surging demand for financial market data, with the sector growing 12.4% to a record $42 billion in 2023. The service aims to address the increasing need for high-quality data and advanced analytical tools in the fixed-income, currencies, and commodities (FICC) markets.“By harnessing the scale and depth of Euroclear’s post-trade ecosystem, which in 2023 settled the equivalent of more than 1 quadrillion of securities transactions, Smart Markets is able to provide trading firms with a true picture of fixed income activity including government and corporate bond markets,” commented Philippe Laurensy, Managing Director and Head of Product, Strategy and Innovation at Euroclear.The platform synthesizes raw data from various market sources, including Euroclear, and applies advanced analytics to provide users with multi-asset insights. This approach enables market participants to refine trading models, develop informed strategies, and enhance investment research and post-trade analysis.Mosaic and Euroclear team to generate smarter fixed income data https://t.co/iFxfMP14bj— Finextra (@Finextra) June 24, 2024The initial rollout of Smart Markets includes participation from a diverse group of financial institutions, including major banks, as well as central banks and asset managers such as the Bank of England and T. Rowe Price Associates.In the past, the company also launched solutions directly related to the forex markets, including FXLIQUIDITY. This service was created in collaboration with MUFG and CLS, aiming to provide greater transparency on FX data and analysis.“Mosaic has been at the leading edge of data analytics for capital markets since our inception, and the launch of Smart Markets takes our offering to the next level, introducing a new category of data product,” added Matthew Hodgson, CEO and Founder of Mosaic Smart Data. “Leveraging comprehensive, high-quality transaction data from best-in-class providers such as Euroclear and running it through our proven models gives participants the insights at their fingertips to truly understand market behavior and make more informed trading decisions.”Last month, Euroclear announced changes in the position of UK and International CEO. After 28 years and serving as interim CEO, Chris Elms, who brings decades of experience in financial markets, took over the role. This article was written by Damian Chmiel at www.financemagnates.com.

Delta Capita, a financial services consulting and technology firm, has appointed Nick Frost as its new Global Chief Financial Officer (CFO), the company announced Monday.Delta Capita Names Nick Frost as New Global CFOFrost, who brings over two decades of finance experience to the role, will join Delta Capita's Executive Committee and report directly to Group CEO Joe Channer. Based in London, he will be tasked with developing the company's financial strategy and supporting its growth initiatives.Prior to joining Delta Capita, Frost held CFO positions at several firms, including the London Stock Exchange Group. Over the past few months, he was associated with the technology company Prytek, where he also held the role of the financial department’s bossman."Nick brings significant experience to the business having previously held CFO roles at institutional public companies," said Channer. "His leadership will be pivotal in shaping our financial strategy and preparing us for the next phase of accelerated growth."Delta Capita, which operates as the Financial Services division of Prytek, provides consulting, managed services, and technology solutions to the capital markets industry. The company employs over 1,200 people across Europe, Asia and the US."I look forward to collaborating with the team to ensure strong financial growth as Delta Capita continues its mission to reinvent the financial services value chain," Frost concluded.In the meantime, Delta Capita named Szu-Tu as Head of Client Lifecycle Management in APAC. Szu-Tu, who is based in Singapore, will oversee the management and expansion of Delta Capita’s CLM business, encompassing consulting, services, and technology.A few years ago, Francesca Herratt was appointed the company’s CFO. According to her LinkedIn profile, she still holds this position.If you're interested in other industry moves that have occurred over the past few weeks, check out the summary prepared by Finance Magnates. Among others, Tradeweb has made changes to its team, and PayPal has introduced a new Chief Technology Officer. This article was written by Damian Chmiel at www.financemagnates.com.

Bybit, one of the world’s top three crypto exchanges by volume, today brings its customers Apple Pay, a safer, more secure, and private way to pay at checkout when using the Bybit app or website to purchase cryptocurrency. Bybit offers competitive currency rates, ensuring users get the best price for their assets.Bybit (https://www.bybit.com) users can use over 20 fiat currencies to buy cryptocurrencies and from today up to July 1, 2024, 10AM UTC, such transactions will incur zero fees. Bybit users can simply select their preferred cryptocurrency and payment currency and choose Apple Pay as their payment method at checkout.Customers can use Apple Pay on iPhone, iPad, and Mac to make faster and more convenient purchases in apps or on the web in Safari without having to create accounts or repeatedly type in shipping and billing information. Every Apple Pay purchase is secure because it is authenticated with Face ID, Touch ID, or device passcode, as well as a one-time unique dynamic security code.“We are thrilled to offer Apple Pay to our customers as a checkout option in the Bybit app or website, enhancing their payment experience with unmatched security and convenience,” said Joan Han, Sales and Marketing Director at Bybit. “This integration represents a significant leap forward in our commitment to providing seamless, secure, and innovative financial solutions to the global market.”Security and privacy are at the core of Apple Pay. When customers use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted, and securely stored in the Secure Element, an industry-standard, certified chip designed to store the payment information safely on the device. This article was written by FM Contributors at www.financemagnates.com.