Looking back at the most intriguing and popular industry news from the past week between 1st and 5th of June on LeapRate.
UK online trading leader IG Group Holdings plc released its trading update for the fourth quarter of its FY20 financial year and its financial year ending 31 May 2020 (FY20), ahead of entering its close period. The broker expects net trading revenue in Q4 FY20 to be record £259 million (Q4 FY19: £117.9 million), with full year net trading revenue anticipated to be approximately £649 million (FY19: £476.9 million).
Cboe Global Markets, Inc. announced the acquisition of New York-based real-time alerts and order flow analysis service provider Trade Alert, LLC. Trade Alert will integrate with Cboe Information Solutions’ comprehensive suite of data solutions, analytics and indices. The solution is designed to optimize customer’s experience throughout the full life cycle of a transaction by providing insights, alpha opportunities, portfolio optimizations and seamless workflows. The addition of Trade Alert will deliver real-time trade data, market information and alerts.
Taiwan Futures Exchange (TAIFEX) teamed up with FTSE Russell and Taiwan Index Plus (TIP) Corporation to launch the first futures contract linked to FTSE4Good TIP Taiwan ESG (“F4G TIP TW ESG”) Index. The new ESG index launches on 8 June 2020 and will assist to the ever-growing market need of ESG (environmental, social and governance) investment in Taiwan.
Online FX and CFD broker Pepperstone announced that it has opened a brand new DFSA office in Dubai, strengthening its fintech offering globally. Tarik Chebib, Head of Middle East, commented that the company is entering the Middle East Market with an experienced team. The expansion also marks 10th anniversary of Pepperstone.
UK Financial Conduct Authority (FCA) barred four Cypriot investment firms from continuing to offer high risk CFDs to UK investors. The companies used unauthorised celebrity endorsements on social media as part of their marketing. The UK watchdog’s orders require the four firms to stop selling CFDs to UK customers, to close existing positions, to return the money to their UK customers and to notify their clients of the FCA’s action. Hoch Capital Ltd (trading as iTrader and tradeATF), Magnum FX (Cyprus) Ltd (trading as ET Finance), Rodeler Ltd (trading as 24option) and F1Markets Ltd (trading as Investous, StrattonMarkets and Europrime) used fake endorsements from celebrities on social media and webpages to attract consumers.
Copenhagen based multi-asset trading and investment specialist Saxo Bank announced signing white label agreements with five banks through an integration with the Nordic data centre and IT infrastructure provider SDC. The technical integration will begin in the second half of 2020 and the solutions are expected to launch for the participating banks’ customers in the first half of 2021. The partnership between Saxo Bank and the five Danish SDC member banks (Sparekassen Vendsyssel, Sparekassen Thy, Middelfart Sparekasse, Frøs Sparekasse and Jutlander Bank) will give the banks’ combined 500,000 clients access to Saxo Bank’s trading and investment solutions.
