News Nuggets | 17 July: LSEG's FX Head of Sales Departs; CNMV Warns against Illegal Firms

Clearsky Network Eyes Expansion in Cyprus; Opens New Office

Clearsky Network, a company specializing in the financial markets, payments, and blockchain technology, has opened a new office in Limassol, Cyprus. The company announced the step last week, saying it plans to strengthen its presence in the region.

Amir Peled, Clearsky Network’s Chief Financial Officer (CFO), will be relocating to Limassol to manage the new office, the company said in a statement. Some of the services offered at the new location are company formations and corporate services.

"This new office under my management gives us the opportunity to better assist clients in all aspects of their business and be more hands-on with localized support," said Peled.

Alchemy Pay Launches Micropayment Crypto Purchasing

Alchemy Pay has announced a new service that enables users to purchase as low as a dollar's worth of cryptocurrency. The new service is part of the plans by the fiat-cryptocurrency payment platform to remove barriers to purchasing digital assets.

The service is reportedly supported by several crypto networks, including USDT, USDC, ERC20, and TRC20, the company said in a statement today (Monday).

Based in Singapore, Alchemy Pay was founded in 2017. The platform links cryptocurrencies to fiat currencies and claims to support users in more than 170 countries.

Joshua Cater Joins Bloomberg

Experienced FX professional, Joshua Cater, announced today (Monday) that after nearly five years, he is leaving the London Stock Exchange Group (LSEG) and joining Bloomberg's eFX Sales, Electronic Trading FXGO division.

“I’m happy to share that I’m starting a new position as eFX Sales - Electronic Trading FXGO at Bloomberg!,” Cater commented on his social media.

Previously, he has worked at State Street, Western Union Business Solutions, and City Index, where he held various roles including FX Dealer and Sales Lead in the FX divisions.

CNVM Issues New Warnings

The National Securities Market Commission (CNMV) has issued warnings against several entities, including BRAGA CAPITAL FX LLC, ORIONNXT LTD, SSJTCF, ENCOUNTER FINANCE LTD, and FCF MARKETS.

These institutions are not registered in the CNMV's corresponding registry and are, therefore, not authorized to provide investment services. The warning serves as a reminder for investors to exercise caution and verify the credibility of financial entities before investing.

Webull Expands to ASX Equities

Webull, the US-based brokerage app, has made its first significant stride into the Australian market by launching ASX equities Equities Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Equities can be characterized as stocks or shares in a company that investors can buy or sell. When you buy a stock, you are in essence buying an equity, becoming a partial owner of shares in a specific company or fund.However, equities do not pay a fixed interest rate, and as such are not considered guaranteed income. As such, equity markets are often associated with risk.When a company issues bonds, it’s taking loans from buyers. When a company offers shares, on the other hand, it’s selling pa Read this Term on its platform and being admitted as an ASX participant. Webull aims to become a serious local competitor.

The platform will now feature over 2,000 ASX-listed stocks, ETFs, and hybrid securities, alongside its existing 15,000+ US stocks and options. This offers Australian traders more diverse investment options.

Beware of Wilby Securities' Fake Shares

New Zealand residents are cautioned against engaging with Wilby Securities, an unregistered company offering pre-IPO shares, notably in ChatGPT. Wilby Securities is not licensed to provide financial services within New Zealand and has been implicated in potentially fraudulent activities.

The Financial Markets Authority (FMA) advises exercising caution when dealing with this entity, emphasizing the importance of thorough due diligence in investment decisions.

Broadridge International Appoints New President

Broadridge Financial Solutions has announced the appointment of Mike Sleightholme as the President of Broadridge International. Based in London, Sleightholme will oversee customer support and the company's growing technology and data solutions portfolio throughout the EMEA and Asia Pacific region.

His responsibilities will include solutions supporting capital markets trade lifecycle, global governance and communications, and asset management, underscoring Broadridge's commitment to leading innovation in fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term.

"I'm excited to lead Broadridge's global business and to grow our client relationships and footprint globally," Sleightholme commented. "Buy- and sell-side firms across Europe and Asia face their own unique set of technology and regulatory challenges, and I am eager to work with our talented team to provide clients with innovative technology solutions paired with local market expertise to transform their businesses and drive growth."

Typhoon Signal No. 8 Delays HKEX Trading

The Hong Kong Exchanges and Clearing Limited (HKEX) has delayed its securities and derivatives market trading due to Typhoon Signal No. 8. If the signal remains in effect or any extreme conditions persist, the morning trading sessions across all markets will be cancelled.

However, trading will resume approximately two hours later if conditions improve by noon. This decision demonstrates HKEX's commitment to the safety and well-being of its traders and staff.

BaFin Extends Anti-Money Laundering Measures on N26 Bank

Despite some progress, N26 Bank AG continues to face challenges in its anti-money laundering and terrorist financing systems. In response, the Financial Supervisory Authority (BaFin) has extended and specified certain measures against the institution.

These include growth restrictions for new customers and a mandate for a special representative to oversee the implementation of the ordered measures. This development signifies BaFin's ongoing commitment to ensuring financial institutions' compliance with legal obligations