Also, the crackdown of Malaysia and Hong Kong regulators.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
TradeZero USA Acquires Koonce Securities
TradeZero USA, a
subsidiary of TradeZero Holding Corp., has completed its acquisition of Koonce
Securities LLC. This acquisition enables Koonce Securities to provide clearing
services for TradeZero's group of brokers, the company announced today (Monday).
Daniel Pipitone, the CEO
of TradeZero Holding Group, said: "The acquisition of
Koonce will eventually allow TradeZero broker-dealers to receive dedicated
treatment and service from our in-house clearing team, resulting in a better
client experience for TradeZero's clients."
Perfios Secures $200M from Kedaara Capital
An Indian fintech startup, Perfios has secured an investment
of $229 million from Kedaara Capital. This funding includes both primary
fundraising and secondary sale components, although the company has not
disclosed its valuation.
Headquartered in
Bengaluru, Perfios leverages data to assist banking and financial institutions
in making informed decisions, including assessing creditworthiness and income
analysis. According to the company's announcement, the funds raised will be
directed towards expanding its presence in North America and Europe.
Gainn Fintech Unveils
Financial Services Platform
The Mumbai-based Gainn
Fintech has introduced a financial services platform to enhance users' trading
services. The platform's solution provides traders with real-time market
insights, comprehensive analysis, and a wider array of resources for traders.
According to the
company's statement, the key features of Gainn Fintech Financial Services
Platform include AI-powered insights for data-driven decisions, a diverse range
of tradable assets for portfolio diversification, and enhanced cybersecurity
measures.
Yeekatee Secures CHF 550K Funding
A Swiss fintech firm, Yeekatee has obtained CHF 550,000 in
funding from Five T Fintech and existing investor, Ronald
Strassler. This investment followed the recent unveiling of a mobile app, which
allows users to monitor all their assets, by the company.
Alexander Christen, the
CEO and Co-Founder of Five T Fintech, explained that Yeekatee's mission is to
redefine wealth aggregation and social investing. He highlighted the platform's
booking engine that provides investors with depth and accuracy of portfolio
data.
CySEC Informs on Russian
'Forced Transfers'
The Cyprus
Securities and Exchange Commission (CySEC) has issued a circular regarding new
Russian Federation Federal Laws that affect the transfer of Russian securities.
The laws allow for the transfer of securities from non-Russian custodians to
Russian custodians under certain conditions.
CySEC has
requested regulated entities to provide information on customers who have
proceeded with these 'Forced Transfers.' The deadline for this information is 25
September 2023.
Spain's CNMV Issues New
Warnings
The
National Securities Market Commission (CNMV) in Spain has issued warnings
against several entities for operating without proper authorization. These
entities include Proinvest, NinjaTrader, Equitiz, and others.
According
to the CNMV, these institutions are not registered and, therefore, are not
authorized to provide investment services. The warning serves as a cautionary
note to potential investors and market participants to steer clear of these
entities.
Source: CNMV
Progmat Boosts Japan's Digital Asset Market
Major
financial institutions in Japan, including Mitsubishi UFJ Trust and Banking
Corporation and Mizuho Trust & Banking Co., Ltd., have allied themselves to establish Progmat, Inc.
This new
company aims to develop a digital asset issuance and management platform.
The Digital Asset Co-Creation Consortium (DCC), managed by Progmat, Inc., has
214 member companies. The alliance aims to improve market convenience and
enhance the competitiveness of the digital asset market in Japan.
Charlie Walker Appointed LSE's Deputy CEO
The London
Stock Exchange Group (LSEG) has announced the appointment of Charlie Walker as
the deputy CEO of its main exchange. Walker will report to Julia Hoggett, the
CEO of the London Stock Exchange plc.
The
appointment comes amid ongoing reforms aimed at making the market more
appealing to investors and companies looking to list.
UBS Cuts Asia Wealth
Management Jobs
UBS Chief Executive Sergio Ermotti
Reuters
UBS Group
is planning to cut jobs in its wealth management sector in Asia, following its
acquisition of Credit Suisse. The cuts are a response to the reduced client
activity and China's slowing economy.
The bank
plans to eliminate several hundred roles, primarily those acquired through its absorption of Credit
Suisse, in Hong Kong and Singapore. However, the majority of private bankers in
Australia and India will be retained
Directa SIM Joins Spectrum Markets
Italian retail broker, Directa SIM has become the latest member of IG-owned Spectrum Markets, a pan-European trading venue for securitized derivatives. It will be a direct member of Spectrum Markets, meaning it can use proprietary technology to act as its own settlement agent.
Directa has over 61,000 active accounts with combined customer assets of about €3.5 billion.
Spectrum Markets CEO, Nicky Maan
“Spectrum’s philosophy has always been about finding a better way to do things for retail investors, and this is an ethos that we really share with Directa, so they are a very natural partner for us, and we’re delighted to have such a respected and pioneering retail broker joining the venue,” said Nicky Maan, the CEO at Spectrum Markets.
AsiaNext Gains Singapore License
AsiaNext, an institution-focused digital asset exchange, has received a Recognised Market Operator (RMO) license from the Monetary Authority of Singapore (MAS). The platform also holds an in-principle approval for a Capital Markets Services (CMS) license.
With the new license, AsiaNext can operate as an organized market for securities and collective investment schemes.
Chong Kok Kee, the CEO at AsiaNext
“Since our inception, the team has worked tirelessly to construct an institutional-grade exchange based on stringent compliance and risk management standards that govern our entire organization as well as the multi-asset classes that will be traded on our venue,” said Chong Kok Kee, the CEO at AsiaNext.
Malaysia’s SC Continues Crackdown
Malaysia’s Securities Commission (SC) has added two more potential clones of legitimate financial services platforms to its Investors Alert list. The names are United Global Malaysia and Bill Morrisons Sdn Bhd.
The fresh listing came days after the Southeast Asian regulator flagged five platforms for suspicious activities within its jurisdictions.
HK Revokes Axial Capital Management Limited’s Licence
The Securities and Futures Commission (SFC) has found Axial Capital Management Limited (Axial) in violation of repeated compliance violations and thus revoked its license. The regulator also suspended the license of Axial’s responsible officer (RO), Eugene Chung, for five years.
According to the SFC, the company did not maintain the mandatory required liquid capital of $100,000 for a consecutive period of 19 months, from 28 March 2019 to 16 October 2020. Although the company was aware of the lapse, it informed the regulator about it after 18 months.
“The SFC is of the view that Axial’s conduct was not only in breach of the SFO, the FRR, and the Code of Conduct, but also amounted to flouting the FRR regime. Under the circumstances, the conduct of Axial fell far short of the standards expected of licensed intermediaries,” the SFC’s announcement stated.
Goldman Sachs Joins Eurex
Goldman Sachs has become a new member of the lifted FX Futures business of Eurex, a European owned by the Deutsche Börse Group. Goldman Sachs has joined as a trading and clearing member and also a liquidity provider for off-book transactions.
“We are delighted to see Goldman Sachs offering their global client base access to our listed FX derivatives suite,” said Jens Quiram, the Global Head of FIC Derivatives & Repo Sales at Eurex. “Goldman Sachs’ engagement both as clearing member and liquidity provider will enable even more clients to benefit from listed FX liquidity at Eurex.”
Joseph Nehorai, the Global Co-Head of Futures at Goldman Sachs, said: “With block trades and EFPs, we can offer access to OTC liquidity while transacting in a listed instrument. Increasing funding and capital costs evolving in FX markets are leading to a growing appetite to move towards listed FX derivatives. This enables the buy-side community to enjoy the advantages of OTC trading and centrally cleared derivatives.”
TradeZero USA Acquires Koonce Securities
TradeZero USA, a
subsidiary of TradeZero Holding Corp., has completed its acquisition of Koonce
Securities LLC. This acquisition enables Koonce Securities to provide clearing
services for TradeZero's group of brokers, the company announced today (Monday).
Daniel Pipitone, the CEO
of TradeZero Holding Group, said: "The acquisition of
Koonce will eventually allow TradeZero broker-dealers to receive dedicated
treatment and service from our in-house clearing team, resulting in a better
client experience for TradeZero's clients."
Perfios Secures $200M from Kedaara Capital
An Indian fintech startup, Perfios has secured an investment
of $229 million from Kedaara Capital. This funding includes both primary
fundraising and secondary sale components, although the company has not
disclosed its valuation.
Headquartered in
Bengaluru, Perfios leverages data to assist banking and financial institutions
in making informed decisions, including assessing creditworthiness and income
analysis. According to the company's announcement, the funds raised will be
directed towards expanding its presence in North America and Europe.
Gainn Fintech Unveils
Financial Services Platform
The Mumbai-based Gainn
Fintech has introduced a financial services platform to enhance users' trading
services. The platform's solution provides traders with real-time market
insights, comprehensive analysis, and a wider array of resources for traders.
According to the
company's statement, the key features of Gainn Fintech Financial Services
Platform include AI-powered insights for data-driven decisions, a diverse range
of tradable assets for portfolio diversification, and enhanced cybersecurity
measures.
Yeekatee Secures CHF 550K Funding
A Swiss fintech firm, Yeekatee has obtained CHF 550,000 in
funding from Five T Fintech and existing investor, Ronald
Strassler. This investment followed the recent unveiling of a mobile app, which
allows users to monitor all their assets, by the company.
Alexander Christen, the
CEO and Co-Founder of Five T Fintech, explained that Yeekatee's mission is to
redefine wealth aggregation and social investing. He highlighted the platform's
booking engine that provides investors with depth and accuracy of portfolio
data.
CySEC Informs on Russian
'Forced Transfers'
The Cyprus
Securities and Exchange Commission (CySEC) has issued a circular regarding new
Russian Federation Federal Laws that affect the transfer of Russian securities.
The laws allow for the transfer of securities from non-Russian custodians to
Russian custodians under certain conditions.
CySEC has
requested regulated entities to provide information on customers who have
proceeded with these 'Forced Transfers.' The deadline for this information is 25
September 2023.
Spain's CNMV Issues New
Warnings
The
National Securities Market Commission (CNMV) in Spain has issued warnings
against several entities for operating without proper authorization. These
entities include Proinvest, NinjaTrader, Equitiz, and others.
According
to the CNMV, these institutions are not registered and, therefore, are not
authorized to provide investment services. The warning serves as a cautionary
note to potential investors and market participants to steer clear of these
entities.
Source: CNMV
Progmat Boosts Japan's Digital Asset Market
Major
financial institutions in Japan, including Mitsubishi UFJ Trust and Banking
Corporation and Mizuho Trust & Banking Co., Ltd., have allied themselves to establish Progmat, Inc.
This new
company aims to develop a digital asset issuance and management platform.
The Digital Asset Co-Creation Consortium (DCC), managed by Progmat, Inc., has
214 member companies. The alliance aims to improve market convenience and
enhance the competitiveness of the digital asset market in Japan.
Charlie Walker Appointed LSE's Deputy CEO
The London
Stock Exchange Group (LSEG) has announced the appointment of Charlie Walker as
the deputy CEO of its main exchange. Walker will report to Julia Hoggett, the
CEO of the London Stock Exchange plc.
The
appointment comes amid ongoing reforms aimed at making the market more
appealing to investors and companies looking to list.
UBS Cuts Asia Wealth
Management Jobs
UBS Chief Executive Sergio Ermotti
Reuters
UBS Group
is planning to cut jobs in its wealth management sector in Asia, following its
acquisition of Credit Suisse. The cuts are a response to the reduced client
activity and China's slowing economy.
The bank
plans to eliminate several hundred roles, primarily those acquired through its absorption of Credit
Suisse, in Hong Kong and Singapore. However, the majority of private bankers in
Australia and India will be retained
Directa SIM Joins Spectrum Markets
Italian retail broker, Directa SIM has become the latest member of IG-owned Spectrum Markets, a pan-European trading venue for securitized derivatives. It will be a direct member of Spectrum Markets, meaning it can use proprietary technology to act as its own settlement agent.
Directa has over 61,000 active accounts with combined customer assets of about €3.5 billion.
Spectrum Markets CEO, Nicky Maan
“Spectrum’s philosophy has always been about finding a better way to do things for retail investors, and this is an ethos that we really share with Directa, so they are a very natural partner for us, and we’re delighted to have such a respected and pioneering retail broker joining the venue,” said Nicky Maan, the CEO at Spectrum Markets.
AsiaNext Gains Singapore License
AsiaNext, an institution-focused digital asset exchange, has received a Recognised Market Operator (RMO) license from the Monetary Authority of Singapore (MAS). The platform also holds an in-principle approval for a Capital Markets Services (CMS) license.
With the new license, AsiaNext can operate as an organized market for securities and collective investment schemes.
Chong Kok Kee, the CEO at AsiaNext
“Since our inception, the team has worked tirelessly to construct an institutional-grade exchange based on stringent compliance and risk management standards that govern our entire organization as well as the multi-asset classes that will be traded on our venue,” said Chong Kok Kee, the CEO at AsiaNext.
Malaysia’s SC Continues Crackdown
Malaysia’s Securities Commission (SC) has added two more potential clones of legitimate financial services platforms to its Investors Alert list. The names are United Global Malaysia and Bill Morrisons Sdn Bhd.
The fresh listing came days after the Southeast Asian regulator flagged five platforms for suspicious activities within its jurisdictions.
HK Revokes Axial Capital Management Limited’s Licence
The Securities and Futures Commission (SFC) has found Axial Capital Management Limited (Axial) in violation of repeated compliance violations and thus revoked its license. The regulator also suspended the license of Axial’s responsible officer (RO), Eugene Chung, for five years.
According to the SFC, the company did not maintain the mandatory required liquid capital of $100,000 for a consecutive period of 19 months, from 28 March 2019 to 16 October 2020. Although the company was aware of the lapse, it informed the regulator about it after 18 months.
“The SFC is of the view that Axial’s conduct was not only in breach of the SFO, the FRR, and the Code of Conduct, but also amounted to flouting the FRR regime. Under the circumstances, the conduct of Axial fell far short of the standards expected of licensed intermediaries,” the SFC’s announcement stated.
Goldman Sachs Joins Eurex
Goldman Sachs has become a new member of the lifted FX Futures business of Eurex, a European owned by the Deutsche Börse Group. Goldman Sachs has joined as a trading and clearing member and also a liquidity provider for off-book transactions.
“We are delighted to see Goldman Sachs offering their global client base access to our listed FX derivatives suite,” said Jens Quiram, the Global Head of FIC Derivatives & Repo Sales at Eurex. “Goldman Sachs’ engagement both as clearing member and liquidity provider will enable even more clients to benefit from listed FX liquidity at Eurex.”
Joseph Nehorai, the Global Co-Head of Futures at Goldman Sachs, said: “With block trades and EFPs, we can offer access to OTC liquidity while transacting in a listed instrument. Increasing funding and capital costs evolving in FX markets are leading to a growing appetite to move towards listed FX derivatives. This enables the buy-side community to enjoy the advantages of OTC trading and centrally cleared derivatives.”
Cyprus Regulator Proposes Higher CIF Licensing Costs, Plans to Drop Crypto Fee Under MiCA
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
Executive Interview | Dor Eligula | Co-Founder & Chief Business Officer, BridgeWise | FMLS:25
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
In this session, Jonathan Fine form Ultimate Group speaks with Dor Eligula from Bridgewise, a fast-growing AI-powered research and analytics firm supporting brokers and exchanges worldwide.
We start with Dor’s reaction to the Summit and then move to broker growth and the quick wins brokers often overlook. Dor shares where he sees “blue ocean” growth across Asian markets and how local client behaviour shapes demand.
We also discuss the rollout of AI across investment research. Dor gives real examples of how automation and human judgment meet at Bridgewise — including moments when analysts corrected AI output, and times when AI prevented an error.
We close with a practical question: how retail investors can actually use AI without falling into common traps.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Brendan Callan joined us fresh off the Summit’s most anticipated debate: “Is Prop Trading Good for the Industry?” Brendan argued against the motion — and the audience voted him the winner.
In this interview, Brendan explains the reasoning behind his position. He walks through the message he believes many firms avoid: that the current prop trading model is too dependent on fees, too loose on risk, and too confusing for retail audiences.
We discuss why he thinks the model grew fast, why it may run into walls, and what he believes is needed for a cleaner, more responsible version of prop trading.
This is Brendan at his frankest — sharp, grounded, and very clear about what changes are overdue.
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Elina Pedersen on Growth, Stability & Ultra-Low Latency | Executive Interview | Your Bourse
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
Recorded live at FMLS:25 London, this executive interview features Elina Pedersen, in conversation with Finance Magnates, following her company’s win for Best Connectivity 2025.
🔹In this wide-ranging discussion, Elina shares insights on:
🔹What winning a Finance Magnates award means for credibility and reputation
🔹How broker demand for stability and reliability is driving rapid growth
🔹The launch of a new trade server enabling flexible front-end integrations
🔹Why ultra-low latency must be proven with data, not buzzwords
🔹Common mistakes brokers make when scaling globally
🔹Educating the industry through a newly launched Dealers Academy
🔹Where AI fits into trading infrastructure and where it doesn’t
Elina explains why resilient back-end infrastructure, deep client partnerships, and disciplined focus are critical for brokers looking to scale sustainably in today’s competitive market.
🏆 Award Highlight: Best Connectivity 2025
👉 Subscribe to Finance Magnates for more executive interviews, industry insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #BestConnectivity #TradingTechnology #UltraLowLatency #FinTech #Brokerage #ExecutiveInterview
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
