During the passing week the most interesting stories from the online trading industry included brokers getting ready for the extreme volatility that might follow the UK vote on leaving the EU, new product launches and partnerships. We also used one of the most important matches in the world of football to review the extent of forex-sports sponsorships.
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On Monday we reported that CMC Markets is officially launching its institutional business less than half a year after going public. The company is going to initially focus on an offering of CFDs which are one of the key strengths of the firm in the retail online trading space.
Speaking to Finance Magnates, the Head of Institutional at CMC Markets, Richard Elston, said: “While the API does carry FX, we are keen to promote the CFD side of the business at the moment. Given the fact that we have just gone through an IPO and our market cap is over £700 million, we believe that CMC Markets is in an advantageous position as a leading brokerage and a reliable counterpart in the market.”
On Tuesday CFH Clearing announced that it is launching a new mobile trading platform called CFH Mobile in tandem with top of the line mobile trading platform developer NetDania.
CEO of NetDania Markets, Jonas Nielsen, said: “We are very pleased to have been able to use our expertise to build a bespoke mobile trading platform for CFH Clearing which enables their clients to stay in touch with the financial markets. Even in financial services, it is time to think “mobile first”.”
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On Wednesday we revealed that Saxo Bank has sent out an announcement to clients stating that it may increase some margin requirements for its clients in the coming weeks over the Brexit vote in the United Kingdom. Head of Markets of Saxo Bank, Claus Nielsen, said: “Clients have been advised that should there be increased market volatility and liquidity concerns leading up to, during and shortly after the vote, there is a high probability of margin requirement increases, as well as restricted availability of certain trade and order types.”
The day before Saxo Bank announced that it has managed to strike a new partnership deal in China, its second in 2016. The Danish bank has on-boarded China’s largest internet finance company Lufax to become its newest white label. The CEO of Lufax, Gregory Gibb, stated: “Saxo Bank is at the forefront of online trading and its expertise will strengthen our ambition to be China’s leading online wealth management provider.”
iFX Expo International 2016
On Thursday the fifth iFX expo International came to a close in Cyprus. The last speech at the event was by the chairwoman of the Cypriot financial regulator, the Cyprus Securities and Exchange Commission, during which a protester jumped out of his seat and started shouting that CySEC is not doing enough for the victims of IronFX.
Beyond all the speeches, impressive exhibitions and great networking at the iFX expo, the event also offered indispensable learning opportunities, with workshops from the leading experts in various fields as well as panel discussions on critical subjects for success in the industry.
The Road to Real Madrid’s Victory
On Friday we offered a comprehensive look at major sponsorship deals between trading brands and sports icons.
After months of group phase games, quarterfinals and semifinals, the Champions League has come to its conclusion with the final game between Atletico Madrid and Real Madrid. Atletico Madrid has been sponsored by Plus500, while Real Madrid’s top striker Cristiano Ronaldo is the ambassador of XTrade.