Partnerships, New Offerings and Higher Revenues - Best of the Week

This week some of the biggest stories in the online currency trading industry involved new offerings as well as positive financial results from brokers listed on the London Stock Exchange.[gptAdvertisement]

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HollyFX

On Monday we reported that HollyFX is now ILQ Australia’s Corporate Authorised Representative. James O’Neill, Director at ILQ Australia, commented: “ILQ Australia welcomes our new partners in Holly FX. Holly FX enables clients from a Chinese speaking background, the ability to speak to experts in their own language while also gaining access to ILQ Australia’s state of the art technology.”

While HollyFX were in Sydney they met with the New South Wales Minister for Innovation and Better Regulation, the Hon. Matt Kean MP, in the Premier’s Boardroom. Mr Kean spoke about the importance of fintech and the financial services industry to the NSW economy and wished the partnership success into the future.

Next generation Mirror Trader

On Tuesday Tradency announced the latest version of its Mirror Trader social trading platform based on HTML5.

The first brokerage to launch the next generation of Mirror Trader is Japanese Central Tanshi FX. Tradency’s co-founder and President, Gil Eyal, shared: “CTFX is a natural choice for us to launch our global cutting-edge Mirror Trader campaign. Entering our fifth year of strategic cooperation, we see our long-term partnership strengthen and grow with new services to wider audiences.”

IG Group

On Wednesday IG Group reported that it is expecting a pick up in profits this year. The firm marked an increase in revenues when compared to a year ago for the fourth quarter that ended on May 31st 2017.

This came despite low volatility across the industry. Both measures of volatility that are key drivers to revenue from retail traders – the VIX (a measure of stocks volatility) and the CVIX (a measure of foreign exchange volatility) - hit multi-year lows.

GBE Prime

On Thursday we exclusively reported that GBE Brokers is launching a prime of prime offering. The new unit, GBE Prime, is going to exclusively focus on providing Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term to brokers and white label clients.

The newly appointed Head of GBE Prime, Ben Florian Henke, shared with Finance Magnates: “We have stepped into the institutional market in beginning of 2016. We are growing a lot in this business area and we are already servicing over 35 brokers with our liquidity.”

Plus500

On Friday Plus500 announced a share buyback program worth $10 million. The company will finance the purchases of its own stock via its net cash balances that as of the 31st of May stood at $191 million.

CEO of Plus500, Asaf Elimelech, stated: “We are pleased to announce the start of a share buyback program, which will be funded from our significant cash resources. Together with the substantial dividend Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term due to be paid in July, our cash generative business model is enabling us to provide good shareholder returns despite current regulatory uncertainties.”