Category: Financial Services

FINRA's 2018 volume tops 2017 activity by 87%
March 20, 2025 BY Sam Boughedda

FINRA Fines National Financial Services for Failing to Timely Transfer Customer Assets

According to FINRA, between April 2009 and May 2023, NFS failed to transfer over 5,600 Unit Investment Trusts (UITs) through the Automated Customer Account Transfer Service (ACATS).  Additionally, the firm reportedly did not process approximately 4,000 of these UITs as in-kind transfers, despite customer instructions, instead redeeming them for cash. FINRA found that some transfers…

Read more
March 19, 2025 BY Sam Boughedda

Fiserv Expands European Presence with CCV Acquisition

The deal is expected to strengthen Fiserv’s position in the European payments market, enabling it to accelerate the deployment of its Clover platform while enhancing its merchant and partner network across the Netherlands, Belgium, and Germany.  Financial terms of the acquisition were not disclosed. Founded in 1958 in Arnhem, CCV has a long history of…

Read more
Hong Kong
March 19, 2025 BY Sam Boughedda

Alpha Group International's 2024 Revenue Jumps, Positive Momentum Continues into 2025

The financial solutions provider saw 20% organic revenue growth, excluding contributions from Cobase, which was acquired in late 2023.  Revenue from the Private Markets (formerly labelled institutional) division increased 20% to £69 million, while the Corporate division grew 21% to £63.8 million.  Cobase contributed £2.9 million, up from just £0.2 million in the prior year.…

Read more
Acuity Trading Barcelona
March 18, 2025 BY Sam Boughedda

Acuity Trading Partners with interop.io to Enhance Operational Efficiency

The collaboration will integrate Acuity’s AI-powered financial analytics with interop.io’s FDC3 framework. It is expected to create a “seamlessly interconnected financial ecosystem.” It is expected to provide real-time market insights within existing workflows, eliminating the inefficiencies of fragmented data sources. “Institutions demand seamless data integration to support workflows and maintain a competitive edge,” Acuity Trading…

Read more
March 18, 2025 BY Sam Boughedda

Nasdaq and Nuam Extend Strategic Tech Partnership

The companies said that under the extended agreement, Nasdaq’s central securities depository (CSD) platform will be adopted by all three exchanges.  The move is aimed at streamlining operations, reducing costs, and increasing liquidity across the region.  It builds on Nasdaq’s existing collaboration with nuam, which is already integrating its trading infrastructure with Nasdaq’s technology. “Having…

Read more
Robinhood
March 18, 2025 BY Sam Boughedda

Robinhood Announces Prediction Markets Hub for Event-Based Trading

At launch, the online brokerage said that traders would be able to speculate on the Federal Reserve’s interest rate decision for May and the men’s and women’s College Basketball Tournaments. “We believe in the power of prediction markets and think they play an important role at the intersection of news, economics, politics, sports, and culture,”…

Read more
Eurex enhances European ETF ecosystem with new product
March 17, 2025 BY Sam Boughedda

iM Global Partner Launches European Managed Futures UCITS ETF

The ETF is the first managed futures UCITS ETF available in the region. The company said the fund is now listed on Euronext Paris and will soon be available on the London Stock Exchange in sterling.  It mirrors the US-listed iMGP DBi Managed Futures Strategy ETF, which is managed by DBi, a specialist in hedge…

Read more
March 17, 2025 BY Sam Boughedda

ASIC Applies For Appointment of Liquidators to Falcon Capital Limited, First Guardian Master Fund

ASIC is also seeking the appointment of a receiver and manager over the personal property of Falcon director David Anderson. The move follows a court-ordered asset freeze in February 2025 amid concerns over First Guardian’s management.  Withdrawals from the fund have been suspended since May 2024, with limited exceptions.  ASIC alleges that $274 million of…

Read more
March 17, 2025 BY Sam Boughedda

FalconX and StoneX Execute First-Ever CME Group Solana Futures Trade

The company said in its release that it believes the milestone highlights growing institutional adoption of digital assets and marks a significant step in expanding regulated crypto derivatives markets. "This highly anticipated launch marks a historic moment for the Solana ecosystem, allowing institutional investors to manage risk and price exposure on a regulated venue," said…

Read more
Hong Kong SFC
March 14, 2025 BY Sam Boughedda

Hong Kong's SFC Seeks Disqualification and Compensation Orders Against Former Board of 3DG Holdings

The legal proceedings regard their alleged failure to prevent the misappropriation of HK$74.4 million in corporate funds. The SFC said it is seeking disqualification orders to bar the directors from serving in corporate roles and compensation orders to recover the lost funds.  The directors named in the case include Xu Zhigang, the company’s former CEO,…

Read more