Tradeweb
July 28, 2023 BY Steffy Bogdanova

Tradeweb’s Q2 net income jumps 25% to $101.9 million

Net income for the period came in at $101.9 million and at $123.7 million on adjusted basis. Both numbers marked a rise on yearly basis of 24.9% and 10.8%, respectively. In Q2 2023, adjusted EBITDA margin stood at 52.5% and adjusted EBITDA for the quarter was $163.1 million. In comparison, for the same period during…

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BidX Markets
July 28, 2023 BY Steffy Bogdanova

BidX Markets introduces spread betting platform for UK pro traders

James Roddy, HNW Professional Client Sales at BidX Markets, said: We are delighted to be making the announcement that BidX Markets has now expanded its product offering to include Spread Betting for our Professional Clients - this move embodies our commitment to continue to deliver innovative and customer-centric solutions. What makes this product particularly appealing…

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July 28, 2023 BY Steffy Bogdanova

Italy's Consob blocks 3 more unauthorised firms

These companies offer high-risk investment instruments, including contracts for differences (CFDs) of forex and other asset classes. Consob has the authority to block websites offering illegal financial services at an internet service provider level. The regulator stated: The black-out of these websites by Internet service providers operating on Italian territory is ongoing. For technical reasons,…

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CySEC fine
July 27, 2023 BY Steffy Bogdanova

CySEC imposes a €100K fine on BDSwiss

The company operates forex and contracts for differences (CFDs) broker BDSwiss and holds a Cyprus Investment Firm (CIF) license granted by CySEC. The regulator detailed that in 2021, BDSwiss allowed offshore companies associated with it to promote its CIF status, enticing clients with investment services in CFDs without the requiring customers to pay an initial…

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July 27, 2023 BY Steffy Bogdanova

Is the Fed done hiking? Markets think so, Powell doesn’t

Market Expects No Further Hikes in 2023 According to the CME’s FedWatch tool, market participants now overwhelmingly expect that the Fed’s hikes for 2023 are over. There is currently a 78% probability of a pause in September, a 65.7% probability of a pause in November, and a 61.4% probability of a pause in December. Interestingly,…

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July 27, 2023 BY Steffy Bogdanova

XTB sees net profit drop 12% in H1 2023, new clients jump 66%

Active clients XTB registered a record 167,000 new clients in H1, seeing a 65.5%YoY surge from the same period the previous year. The Warsaw Stock Exchange-listed company’s active clients also jumped to 274,450 by 44.4% However, XTB's CFD profitability per lot, representing the profit on a per-trade basis, experienced a 17.4% YoY decline, reaching PLN…

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July 27, 2023 BY Steffy Bogdanova

Virtu Financial sees 17% trading income decline in Q2 to $507 million

Moreover, Virtu Financial disclosed that its adjusted net trading income saw a 22% drop, reaching $278.7 million during the last quarter, down from the $357.4 million recorded in the second quarter of 2022. Furthermore, the electronic market maker's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at $122 million, which represents a 43%…

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July 26, 2023 BY Steffy Bogdanova

ATFX UK's 2022 profit soars nearly 300% to £838K

With these financial results, ATFX UK expressed confidence in its strong balance sheet and its ability to achieve long-term strategic goals. The company pledged to continue direct marketing efforts in the European Economic Area and other authorized international territories. The company stated in the report that its primary focus will be on current high net…

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July 26, 2023 BY Steffy Bogdanova

TMGM becomes Chelsea's APAC partner in a multi-year deal

Jurasek commented: This new relationship aligns our shared commitment to innovation and we look forward to building this partnership and introducing TMGM’s impressive online trading services to our fans. TMGM chief commercial officer Nick Yang also shared excited to bring the company’s trading expertise to the team’s fan base Yang said: Together, we will explore…

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