Saxo Bank Carved Up
The Financial Supervisory Authority of Denmark has approved the purchase of a majority of multi-asset brokerage Saxo Bank to a couple of foreign entities.
Specifically, Zhejiang Geely Holding Group of China has bought 52 percent of the company and Sampo of Finland has bought 11 percent. Saxo Bank was valued at $1.550 billion for the purposes of the transaction.
Saxo Bank CEO Kim Fournais will retain his 25 percent share.
Exclusive Interview with Head of CySEC: “Crypto Is Not a Regulated Activity.”
Demetra Kalogerou, as head of the Cyprus Security and Exchange Commission, has been contending with the foreign exchange industry and binary options scams for years. Nowadays, CySEC has joined other financial regulators in trying to fit cryptocurrency into its financial rules.
Finance Magnates asked Kalogerou about the repercussions of blockchain technology, her new innovation hub, and why CySEC seems to be lagging behind other jurisdictions in this respect.
Exclusive Interview with Head of Interactive Brokers
Thomas Peterffy, CEO of foreign exchange company Interactive Brokers, removed his company from the Nasdaq stock exchange and moved it to IEX, a relatively new exchange that claims to be fairer and more open than older venues.
Finance Magnates spoke exclusively with Perffy about the move – he explained why he decided to move to a venue which is less well-established and thus has lower volumes.
Skrill to Release Direct to Crypto Withdrawals FeatureGo to article >>
Plus500 Also Being Carved Up
Several companies are taking advantage of the deflating price of foreign exchange company Plus500 by buying large slices of it.
The value of Plus500 has dropped dramatically of late because major shareholders sold their holdings in the company. Specifically, Playtech, a financial technology company, sold its ten percent, and Plus500’s founders sold their eight percent. The drop in value at one point reached 34 percent when compared to a month prior.
Analysis: Problems with EOS
The blockchain adventure that raised more than $4 billion from hopeful investors recently formed a new internal management group made up of a disparate collection of individuals, including one famous R&B singer.
Some have posited that this was the management team’s response to criticism of technical incompetence and potential corruption. What are these criticisms exactly? Read this analysis to find out.
Is ESMA Pushing People Away?
The European Securities and Markets Authority, the EU’s financial regulation authority, recently made the market a much more difficult place for finance companies with a load of new rules.
Because these rules were meant to be up for review after three months, some believed that there was a chance that they would be relaxed. In this analysis, read why that probably won’t be the case, and why the rules could cause customers to look abroad for business.
Finance Magnates Visits Bitmain Office
Bitcoin mining monolith Bitmain opened a branch in Israel earlier this year; this branch runs a mining pool and develops AI algorithms.
Finance Magnates visited the office, in the small town of Ra’anana, and picked the brains of Bitmain VP Gadi Glikberg about Bitcoin Cash, security issues, and ASIC sales. We also asked about the upcoming Bitmain IPO (spoiler: he declined to talk about that).