According to a FINRA Letter of Acceptance, Waiver, and Consent (AWC), Interactive Brokers made errors in calculating the number of excess shares of stocks listed on European exchanges it had available to return to customers. This resulted in over 800 instances where the firm returned borrowed shares prematurely, causing them to fall into a segregation…
Read moreOptAxe explained in a press release that it aims to address the inefficiencies and fragmentation of the current FX options market by providing a centralised platform for liquidity discovery, dissemination, and execution. "OptAxe offers an innovative and automated approach to FX options trading that digitises and centralises the distribution of FX options axes," the company…
Read more
Integrated into the Swissquote platform, it aims to offer greater accessibility for investors looking to diversify their portfolios. In addition to introducing fractional share trading, Swissquote also revealed it has rolled out a savings plan feature. The company explained that with this tool, users can automatically invest small amounts into selected stocks or exchange-traded funds…
Read more
The strategic solution is said to be aimed at helping companies manage currency fluctuations and simplify treasury management processes. The extension of guaranteed FX rates follows a significant increase in cross-border payments, driven by growth in industries like e-commerce, services, manufacturing, and the gig economy. BofA explained that in recent years, the volume and value…
Read more
The new feature allows customers to borrow money from Robinhood to purchase additional securities, leveraging their existing holdings as collateral. The new feature comes after the product's recent approval following Robinhood's recent discussions with the UK financial regulator, the Financial Conduct Authority (FCA). With rates starting at 5.2%, Robinhood said it aims to provide UK…
Read more
The move aims to protect consumers and ensure that BNPL providers operate fairly and responsibly. On Thursday, the UK government launched a consultation on draft legislation to regulate the BNPL market. The proposed regulations seek to provide consumers with clear information, prevent unaffordable borrowing, and establish strong consumer rights. The FCA welcomed the government's consultation…
Read more
The move is expected to provide Robinhood customers with expanded trading opportunities and access to a wider range of investment products. Cboe's index options, including the S&P 500 Index (SPX), Cboe Volatility Index (VIX), Russell 2000 Index (RUT), and Mini SPX (XSP), offer investors the ability to gain exposure to the US market, hedge against…
Read more
In a year-end trading update, the company reported record assets under administration (AUA) of £86.5 billion, up 22% from the previous year. Customer numbers also continued to grow, with an increase of 66,000 to close at 542,000. This represents a 14% growth in the year, which the investment platform said was driven by both advised…
Read more
The new office aims to capitalise on the region’s growing financial services industry, providing investors in the UAE and GCC with access to Interactive Brokers’ global trading expertise. The company’s trading technology, competitive pricing, and diverse range of investment products are expected to appeal to active traders, high-net-worth individuals, and institutional investors in the region.…
Read more
The company explained in a press release that the strategic partnership aims to enhance the accuracy and speed of the proxy voting process, empowering Danske Bank's clients to make more informed investment decisions. Danske Bank states: "The Broadridge solution streamlines the proxy voting process and ensures greater accuracy and speed, enabling Danske Bank's clients to…
Read more