FINRA building
April 03, 2025 BY Sam Boughedda

Revere Securities Fined $125,000 by FINRA

According to FINRA, between April 2013 and February 2023, Revere mismarked approximately 19,000 order tickets related to syndicate offerings, including initial public offerings (IPOs), bonds, and real estate investment trusts (REITs).  The firm reportedly classified these transactions as unsolicited, despite its registered representatives having solicited most of the trades. The misclassification led to inaccurate books…

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CME Group
April 03, 2025 BY Sam Boughedda

CME Group to Launch Spot-Quoted Futures

The new contracts will allow traders to take long-term futures positions at spot-market prices without the need for frequent rolling, with holdings available for up to five years.  Futures will be offered for bitcoin, ether, and four major U.S. equity indices: the S&P 500, Nasdaq-100, Russell 2000, and Dow Jones Industrial Average. “Market participants will…

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Freetrade
April 02, 2025 BY Sam Boughedda

IG Group Completes Freetrade Acquisition

The deal, first announced in January, was finalised on 1 April 2025. Freetrade will continue to operate as a standalone brand, with co-founder and CEO Viktor Nebehaj and his leadership team remaining in place. Nebehaj said the acquisition would allow Freetrade to “fast-track the rollout of new products and features” while accelerating growth.  Meanwhile, IG’s…

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Axi logo
April 02, 2025 BY Sam Boughedda

Axi UK Revenue Jumps to $39 Million in 2024

The UK subsidiary of Australian retail CFD broker Axi revealed in its recently published annual financial statements that it also saw net profit rise 89.5% to $3.92 million, despite a decline in client money balances to $19.3 million from $21.3 million.  Operating profit grew to $3.45 million, while the cost of sales nearly doubled to…

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April 02, 2025 BY Sam Boughedda

BGC Group Completes OTC Global Holdings Acquisition

The deal is expected to be immediately accretive, with OTC generating over $400 million in revenue in 2024, representing an acquisition multiple of less than 0.8 times revenue. "The completion of this acquisition marks a transformative step for BGC, that firmly establishes our company as the world's premier energy, commodities, and shipping broker," said Sean…

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Interactive Brokers
April 02, 2025 BY Sam Boughedda

Interactive Brokers Reports 44% Surge in March Daily Average Revenue Trades

However, trading activity declined 4% from February, according to the latest brokerage performance report. Client accounts rose 32% from the previous year to 3.62 million, with 87,700 new accounts added in March.  However, the brokerage said 13,300 accounts were escheated to governmental authorities as required by law. Client equity stood at $573.5 billion, up 23%…

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Swiss Stock Exchange
April 01, 2025 BY Sam Boughedda

SIX Announces Digital Assets Regulatory and Tax Service

The new data package is said to be aimed at helping financial institutions navigate the rapidly evolving landscape of digital asset regulations and tax compliance. The service, launched amid increasing institutional demand, enables firms to assess whether over 80,000 crypto-related instruments, including tokens and blockchain-based assets, fall under regulatory and tax requirements, the company explained. …

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DTCC
April 01, 2025 BY Sam Boughedda

DTCC Announces 2 New Board Members

DTCC, a post-trade market infrastructure provider, said the new board members bring extensive global expertise in finance, risk management, and liquidity, which will help guide the company’s strategic direction. Kamis, currently Chief Financial Officer for Citibank N.A. and Head of Finance Transformation at Citi, has over 20 years of experience in financial services.  He previously…

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