Also new director at Velocity Trade; Nordea buying Danske Bank's Norwegian business.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Binance Exits the Dutch
Market
Binance,
the world's leading cryptocurrency exchange, has instructed its Dutch users to
withdraw their crypto assets from the platform by 17 August, according to a report
from the news agency ANP.
The
company, which had been operating without regulatory permission, declared in June
its intentions to leave the Dutch market due to its failure to register.
Binance had been fined earlier in the year by the Dutch Central Bank for its
unauthorized operations within the country.
Nasdaq Reports Q2 2023
Results
Nasdaq,
Inc. announced strong financial results for Q2 2023, noting an increase of 4%
in net revenues compared to the same period last year. The company's Solutions
businesses saw a rise of 6% in revenue, with Anti-Financial Crime revenue
notably jumping 19%.
Despite a decrease
of 13% in GAAP diluted earnings per share, non-GAAP diluted earnings per share
increased 3%. The firm returned $109 million to shareholders in dividends
during the quarter.
Source: Nasdaq
Yonesy Núñez Appointed
CISO at DTCC
Yonesy
Núñez has been appointed as the new Managing Director and Chief Information
Security Officer (CISO) at The Depository Trust & Clearing Corporation
(DTCC). Núñez will be leading Information Security and Technology Risk
Management as DTCC pushes forward with its technology modernization efforts.
Prior to
joining DTCC, Núñez served as CISO at Jack Henry & Associates and held key
positions at Wells Fargo, Citi, and Price Waterhouse Coopers.
ESMA Analyses Cross-Border
Investment Activity
The
European Securities and Markets Authority (ESMA) and national competent
authorities completed an analysis of cross-border investment services in 2022.
The findings highlighted that approximately 380 firms provided cross-border
services to retail clients, with 59% being investment firms.
Cyprus
emerged as the primary location for firms providing these services, followed by
Luxembourg and Germany.
OKX Wallet Enables BTC and
BRC-20 Staking
OKX, a Web3
tech firm, announced that its multi-chain wallet now permits users to stake
Bitcoin (BTC) and BRC-20 tokens. This move follows the launch of the BRC20-S
protocol, allowing users to earn BRC20-S tokens by staking their Bitcoin or
BRC-20 tokens.
The
protocol also enables DeFi developers to establish staking pools on OKX Wallet,
aiding user engagement and community-building efforts.
Rakuten Securities Launches ChatGPT-Based AI Assistant
Rakuten Securities, a major Japanese broker, has launched an Artificial Intelligence chat service, called Investment AI Assistant, developed using the core model of OpenAI's ChatGPT. It aims to support beginner investors with their decisions.
The AI chat service has been launched as a beta version until the end of September with a cap on the maximum number of users. It will operate on a first-come, first-served basis and terminate the service as soon as the daily limits are reached.
Velocity Trade Onboards New Director
Velocity Trade, a global broker-dealer, has strengthened its management by onboarding Will Robbins as a Director. Based in Sydney, he has already assumed the role.
Will Robbins, Director at Velocity Trade
Robbins joined Velocity Trade from IS Prime Limited, where he was the Head of Asia for more than six years. He was a Senior Institutional Sales at Itiviti (then Ullink). Other companies he worked at include Investec, Argonaut, Renaissance Capital, and Aon.
Argo Blockchain Raises £5.134 Million
Argo Blockchain, a cryptocurrency mining company, raised £5.134 (about $7.5 million) from institutional investors with the latest private share placement. A total of 51,340,000 new Ordinary Shares have been placed with institutional investors by Tennyson Securities at a pre-decided price of 10 pence per share. It separately raised about £616,000 from a share placement to retail investors.
"The Placing Price of 10 pence represents a discount of approximately 14 percent to the 30 trading day VWAP of the Company's existing ordinary shares for the period ended on 18 July 2023, and a discount of 25.92 percent to the closing mid-price of the Company's ordinary shares on 18 July 2023," the filing with the London Stock Exchange noted.
The proceeds will be used to reduce the company's debts.
TP24 Raises £345 Million
TP24, which provides revolving business credits to SMEs, announced today (Wednesday) that it had secured £345m in debt funding from UK parties Barclays Bank Plc and M&G Investments. From the total, the startup will utilize £240 million for lending to SMEs in the UK and the Netherlands. The company detailed that Barclays is providing up to £200m in warehouse financing, while M&G is providing up to £40m in mezzanine funding.
"The support from established parties like Barclays and M&G confirms the strength of our innovative product and the talent of our team and gives us the opportunity to grow further," said Niels Turfboer, the Managing Director of TP24 in the UK and the Netherlands.
Danske Bank to Sell a Part of Banking Business
Danske Bank has agreed to sell Norwegian personal customer and private banking business and associated asset management portfolios to Nordea. Announced today (Wednesday), the acquisition is strategic and will strengthen Nordea's market position in Norway.
Frank Vang-Jensen, President and Group CEO of Nordea
"It will add significant scale to our Personal Banking business in Norway and offers value creation opportunities through clear revenue and cost synergies," said Frank Vang-Jensen, the President and Group CEO of Nordea. "Most importantly, this will serve our new customers, who will benefit from our broad financial offering, expertise, and leading digital services."
Binance Exits the Dutch
Market
Binance,
the world's leading cryptocurrency exchange, has instructed its Dutch users to
withdraw their crypto assets from the platform by 17 August, according to a report
from the news agency ANP.
The
company, which had been operating without regulatory permission, declared in June
its intentions to leave the Dutch market due to its failure to register.
Binance had been fined earlier in the year by the Dutch Central Bank for its
unauthorized operations within the country.
Nasdaq Reports Q2 2023
Results
Nasdaq,
Inc. announced strong financial results for Q2 2023, noting an increase of 4%
in net revenues compared to the same period last year. The company's Solutions
businesses saw a rise of 6% in revenue, with Anti-Financial Crime revenue
notably jumping 19%.
Despite a decrease
of 13% in GAAP diluted earnings per share, non-GAAP diluted earnings per share
increased 3%. The firm returned $109 million to shareholders in dividends
during the quarter.
Source: Nasdaq
Yonesy Núñez Appointed
CISO at DTCC
Yonesy
Núñez has been appointed as the new Managing Director and Chief Information
Security Officer (CISO) at The Depository Trust & Clearing Corporation
(DTCC). Núñez will be leading Information Security and Technology Risk
Management as DTCC pushes forward with its technology modernization efforts.
Prior to
joining DTCC, Núñez served as CISO at Jack Henry & Associates and held key
positions at Wells Fargo, Citi, and Price Waterhouse Coopers.
ESMA Analyses Cross-Border
Investment Activity
The
European Securities and Markets Authority (ESMA) and national competent
authorities completed an analysis of cross-border investment services in 2022.
The findings highlighted that approximately 380 firms provided cross-border
services to retail clients, with 59% being investment firms.
Cyprus
emerged as the primary location for firms providing these services, followed by
Luxembourg and Germany.
OKX Wallet Enables BTC and
BRC-20 Staking
OKX, a Web3
tech firm, announced that its multi-chain wallet now permits users to stake
Bitcoin (BTC) and BRC-20 tokens. This move follows the launch of the BRC20-S
protocol, allowing users to earn BRC20-S tokens by staking their Bitcoin or
BRC-20 tokens.
The
protocol also enables DeFi developers to establish staking pools on OKX Wallet,
aiding user engagement and community-building efforts.
Rakuten Securities Launches ChatGPT-Based AI Assistant
Rakuten Securities, a major Japanese broker, has launched an Artificial Intelligence chat service, called Investment AI Assistant, developed using the core model of OpenAI's ChatGPT. It aims to support beginner investors with their decisions.
The AI chat service has been launched as a beta version until the end of September with a cap on the maximum number of users. It will operate on a first-come, first-served basis and terminate the service as soon as the daily limits are reached.
Velocity Trade Onboards New Director
Velocity Trade, a global broker-dealer, has strengthened its management by onboarding Will Robbins as a Director. Based in Sydney, he has already assumed the role.
Will Robbins, Director at Velocity Trade
Robbins joined Velocity Trade from IS Prime Limited, where he was the Head of Asia for more than six years. He was a Senior Institutional Sales at Itiviti (then Ullink). Other companies he worked at include Investec, Argonaut, Renaissance Capital, and Aon.
Argo Blockchain Raises £5.134 Million
Argo Blockchain, a cryptocurrency mining company, raised £5.134 (about $7.5 million) from institutional investors with the latest private share placement. A total of 51,340,000 new Ordinary Shares have been placed with institutional investors by Tennyson Securities at a pre-decided price of 10 pence per share. It separately raised about £616,000 from a share placement to retail investors.
"The Placing Price of 10 pence represents a discount of approximately 14 percent to the 30 trading day VWAP of the Company's existing ordinary shares for the period ended on 18 July 2023, and a discount of 25.92 percent to the closing mid-price of the Company's ordinary shares on 18 July 2023," the filing with the London Stock Exchange noted.
The proceeds will be used to reduce the company's debts.
TP24 Raises £345 Million
TP24, which provides revolving business credits to SMEs, announced today (Wednesday) that it had secured £345m in debt funding from UK parties Barclays Bank Plc and M&G Investments. From the total, the startup will utilize £240 million for lending to SMEs in the UK and the Netherlands. The company detailed that Barclays is providing up to £200m in warehouse financing, while M&G is providing up to £40m in mezzanine funding.
"The support from established parties like Barclays and M&G confirms the strength of our innovative product and the talent of our team and gives us the opportunity to grow further," said Niels Turfboer, the Managing Director of TP24 in the UK and the Netherlands.
Danske Bank to Sell a Part of Banking Business
Danske Bank has agreed to sell Norwegian personal customer and private banking business and associated asset management portfolios to Nordea. Announced today (Wednesday), the acquisition is strategic and will strengthen Nordea's market position in Norway.
Frank Vang-Jensen, President and Group CEO of Nordea
"It will add significant scale to our Personal Banking business in Norway and offers value creation opportunities through clear revenue and cost synergies," said Frank Vang-Jensen, the President and Group CEO of Nordea. "Most importantly, this will serve our new customers, who will benefit from our broad financial offering, expertise, and leading digital services."
SpaceX IPO Reaches Prop Trading as The Trading Pit Markets SPCX Debut Access
Featured Videos
Trading Tales: Stories from The Floor
Trading Tales: Stories from The Floor
Trading Tales: Stories from The Floor
Trading Tales: Stories from The Floor
Join seasoned financial markets professionals as they reflect on life spent in front of tickets, phones, and later screens, and the stories they’ve accumulated on sales and trading floors.
You can count on an unorthodox blend of candid perspectives and off-the-record tales that novices won’t get, and compliance won’t approve.
Attend at your own risk.
What to expect:
A deeper grasp of the evolution that Singapore's FX market has gone through
Practical wisdom on regional market peculiarities and FX careers
Unforgettable anecdotes that bring the Lion City's trading culture to life
Join seasoned financial markets professionals as they reflect on life spent in front of tickets, phones, and later screens, and the stories they’ve accumulated on sales and trading floors.
You can count on an unorthodox blend of candid perspectives and off-the-record tales that novices won’t get, and compliance won’t approve.
Attend at your own risk.
What to expect:
A deeper grasp of the evolution that Singapore's FX market has gone through
Practical wisdom on regional market peculiarities and FX careers
Unforgettable anecdotes that bring the Lion City's trading culture to life
Join seasoned financial markets professionals as they reflect on life spent in front of tickets, phones, and later screens, and the stories they’ve accumulated on sales and trading floors.
You can count on an unorthodox blend of candid perspectives and off-the-record tales that novices won’t get, and compliance won’t approve.
Attend at your own risk.
What to expect:
A deeper grasp of the evolution that Singapore's FX market has gone through
Practical wisdom on regional market peculiarities and FX careers
Unforgettable anecdotes that bring the Lion City's trading culture to life
Join seasoned financial markets professionals as they reflect on life spent in front of tickets, phones, and later screens, and the stories they’ve accumulated on sales and trading floors.
You can count on an unorthodox blend of candid perspectives and off-the-record tales that novices won’t get, and compliance won’t approve.
Attend at your own risk.
What to expect:
A deeper grasp of the evolution that Singapore's FX market has gone through
Practical wisdom on regional market peculiarities and FX careers
Unforgettable anecdotes that bring the Lion City's trading culture to life
Tokenized assets are all the rage across retail and institutional trading, but adoption might hit unique roadblocks for each.
This session gathers builders and architects practitioners to break down questions of infrastructure, ownership, and settlement that will define the next wave of asset tokenization.
Attendees will walk away with:
Institutional perspective on tokenized assets and what they unlock from bonds to debt
Understanding which paths are available for retail brokers and their compliance and product implications
Insight into where APAC regulators stand on tokenized securities
Tokenized assets are all the rage across retail and institutional trading, but adoption might hit unique roadblocks for each.
This session gathers builders and architects practitioners to break down questions of infrastructure, ownership, and settlement that will define the next wave of asset tokenization.
Attendees will walk away with:
Institutional perspective on tokenized assets and what they unlock from bonds to debt
Understanding which paths are available for retail brokers and their compliance and product implications
Insight into where APAC regulators stand on tokenized securities
Tokenized assets are all the rage across retail and institutional trading, but adoption might hit unique roadblocks for each.
This session gathers builders and architects practitioners to break down questions of infrastructure, ownership, and settlement that will define the next wave of asset tokenization.
Attendees will walk away with:
Institutional perspective on tokenized assets and what they unlock from bonds to debt
Understanding which paths are available for retail brokers and their compliance and product implications
Insight into where APAC regulators stand on tokenized securities
Tokenized assets are all the rage across retail and institutional trading, but adoption might hit unique roadblocks for each.
This session gathers builders and architects practitioners to break down questions of infrastructure, ownership, and settlement that will define the next wave of asset tokenization.
Attendees will walk away with:
Institutional perspective on tokenized assets and what they unlock from bonds to debt
Understanding which paths are available for retail brokers and their compliance and product implications
Insight into where APAC regulators stand on tokenized securities
Tokenized assets are all the rage across retail and institutional trading, but adoption might hit unique roadblocks for each.
This session gathers builders and architects practitioners to break down questions of infrastructure, ownership, and settlement that will define the next wave of asset tokenization.
Attendees will walk away with:
Institutional perspective on tokenized assets and what they unlock from bonds to debt
Understanding which paths are available for retail brokers and their compliance and product implications
Insight into where APAC regulators stand on tokenized securities
Tokenized assets are all the rage across retail and institutional trading, but adoption might hit unique roadblocks for each.
This session gathers builders and architects practitioners to break down questions of infrastructure, ownership, and settlement that will define the next wave of asset tokenization.
Attendees will walk away with:
Institutional perspective on tokenized assets and what they unlock from bonds to debt
Understanding which paths are available for retail brokers and their compliance and product implications
Insight into where APAC regulators stand on tokenized securities
As event contracts are set for ‘super-cycle’ growth in volumes and recognition, retail brokers simply can’t stay behind. But can regulated entities integrate a product that is awfully similar to betting?
Join builders across the ecosystemto gain insight into the industry's current and future stance on prediction markets.
Attendees will walk away with:
Better understanding of how the CME, Plus500, and prediction platforms collaborate
Assessment of 2026’s expected volumes and new ‘event’ areas ripe for contracts
Cross-industry understanding of different strategies by brokers (co-opt, partner, buy)
As event contracts are set for ‘super-cycle’ growth in volumes and recognition, retail brokers simply can’t stay behind. But can regulated entities integrate a product that is awfully similar to betting?
Join builders across the ecosystemto gain insight into the industry's current and future stance on prediction markets.
Attendees will walk away with:
Better understanding of how the CME, Plus500, and prediction platforms collaborate
Assessment of 2026’s expected volumes and new ‘event’ areas ripe for contracts
Cross-industry understanding of different strategies by brokers (co-opt, partner, buy)
As event contracts are set for ‘super-cycle’ growth in volumes and recognition, retail brokers simply can’t stay behind. But can regulated entities integrate a product that is awfully similar to betting?
Join builders across the ecosystemto gain insight into the industry's current and future stance on prediction markets.
Attendees will walk away with:
Better understanding of how the CME, Plus500, and prediction platforms collaborate
Assessment of 2026’s expected volumes and new ‘event’ areas ripe for contracts
Cross-industry understanding of different strategies by brokers (co-opt, partner, buy)
As event contracts are set for ‘super-cycle’ growth in volumes and recognition, retail brokers simply can’t stay behind. But can regulated entities integrate a product that is awfully similar to betting?
Join builders across the ecosystemto gain insight into the industry's current and future stance on prediction markets.
Attendees will walk away with:
Better understanding of how the CME, Plus500, and prediction platforms collaborate
Assessment of 2026’s expected volumes and new ‘event’ areas ripe for contracts
Cross-industry understanding of different strategies by brokers (co-opt, partner, buy)
As event contracts are set for ‘super-cycle’ growth in volumes and recognition, retail brokers simply can’t stay behind. But can regulated entities integrate a product that is awfully similar to betting?
Join builders across the ecosystemto gain insight into the industry's current and future stance on prediction markets.
Attendees will walk away with:
Better understanding of how the CME, Plus500, and prediction platforms collaborate
Assessment of 2026’s expected volumes and new ‘event’ areas ripe for contracts
Cross-industry understanding of different strategies by brokers (co-opt, partner, buy)
As event contracts are set for ‘super-cycle’ growth in volumes and recognition, retail brokers simply can’t stay behind. But can regulated entities integrate a product that is awfully similar to betting?
Join builders across the ecosystemto gain insight into the industry's current and future stance on prediction markets.
Attendees will walk away with:
Better understanding of how the CME, Plus500, and prediction platforms collaborate
Assessment of 2026’s expected volumes and new ‘event’ areas ripe for contracts
Cross-industry understanding of different strategies by brokers (co-opt, partner, buy)
Precious Insights: APAC's Bullion Market amid Record Volatility
Precious Insights: APAC's Bullion Market amid Record Volatility
Precious Insights: APAC's Bullion Market amid Record Volatility
Precious Insights: APAC's Bullion Market amid Record Volatility
Precious Insights: APAC's Bullion Market amid Record Volatility
Precious Insights: APAC's Bullion Market amid Record Volatility
The precious metals rally has challenged how brokers and LPs think about hedging, pricing, and physical delivery. But with regional banks eyeing physical gold retail and bullion brokers across Southeast Asia harnessing new tech, volatility is not only in 'safe havens'.
This session gathers practitioners from across the bullion ecosystem to unpack what the rally means on the ground in APAC.
Attendees will walk away with:
Insight into the physical market dynamics driving retail demand across Southeast Asia, from central bank buying to store-of-value purchases
Understanding of Singapore's distinct role as APAC's bullion gateway, and competition near and far
Perspective on operational challenges unique to APAC: kilogram pricing, local delivery, and bridging CFD and physical bullion infrastructure
The precious metals rally has challenged how brokers and LPs think about hedging, pricing, and physical delivery. But with regional banks eyeing physical gold retail and bullion brokers across Southeast Asia harnessing new tech, volatility is not only in 'safe havens'.
This session gathers practitioners from across the bullion ecosystem to unpack what the rally means on the ground in APAC.
Attendees will walk away with:
Insight into the physical market dynamics driving retail demand across Southeast Asia, from central bank buying to store-of-value purchases
Understanding of Singapore's distinct role as APAC's bullion gateway, and competition near and far
Perspective on operational challenges unique to APAC: kilogram pricing, local delivery, and bridging CFD and physical bullion infrastructure
The precious metals rally has challenged how brokers and LPs think about hedging, pricing, and physical delivery. But with regional banks eyeing physical gold retail and bullion brokers across Southeast Asia harnessing new tech, volatility is not only in 'safe havens'.
This session gathers practitioners from across the bullion ecosystem to unpack what the rally means on the ground in APAC.
Attendees will walk away with:
Insight into the physical market dynamics driving retail demand across Southeast Asia, from central bank buying to store-of-value purchases
Understanding of Singapore's distinct role as APAC's bullion gateway, and competition near and far
Perspective on operational challenges unique to APAC: kilogram pricing, local delivery, and bridging CFD and physical bullion infrastructure
The precious metals rally has challenged how brokers and LPs think about hedging, pricing, and physical delivery. But with regional banks eyeing physical gold retail and bullion brokers across Southeast Asia harnessing new tech, volatility is not only in 'safe havens'.
This session gathers practitioners from across the bullion ecosystem to unpack what the rally means on the ground in APAC.
Attendees will walk away with:
Insight into the physical market dynamics driving retail demand across Southeast Asia, from central bank buying to store-of-value purchases
Understanding of Singapore's distinct role as APAC's bullion gateway, and competition near and far
Perspective on operational challenges unique to APAC: kilogram pricing, local delivery, and bridging CFD and physical bullion infrastructure
The precious metals rally has challenged how brokers and LPs think about hedging, pricing, and physical delivery. But with regional banks eyeing physical gold retail and bullion brokers across Southeast Asia harnessing new tech, volatility is not only in 'safe havens'.
This session gathers practitioners from across the bullion ecosystem to unpack what the rally means on the ground in APAC.
Attendees will walk away with:
Insight into the physical market dynamics driving retail demand across Southeast Asia, from central bank buying to store-of-value purchases
Understanding of Singapore's distinct role as APAC's bullion gateway, and competition near and far
Perspective on operational challenges unique to APAC: kilogram pricing, local delivery, and bridging CFD and physical bullion infrastructure
The precious metals rally has challenged how brokers and LPs think about hedging, pricing, and physical delivery. But with regional banks eyeing physical gold retail and bullion brokers across Southeast Asia harnessing new tech, volatility is not only in 'safe havens'.
This session gathers practitioners from across the bullion ecosystem to unpack what the rally means on the ground in APAC.
Attendees will walk away with:
Insight into the physical market dynamics driving retail demand across Southeast Asia, from central bank buying to store-of-value purchases
Understanding of Singapore's distinct role as APAC's bullion gateway, and competition near and far
Perspective on operational challenges unique to APAC: kilogram pricing, local delivery, and bridging CFD and physical bullion infrastructure
License to Fill: Market Liquidity amid Global Turmoil
License to Fill: Market Liquidity amid Global Turmoil
License to Fill: Market Liquidity amid Global Turmoil
License to Fill: Market Liquidity amid Global Turmoil
License to Fill: Market Liquidity amid Global Turmoil
License to Fill: Market Liquidity amid Global Turmoil
Asian markets bear unique characteristics, from connectivity to asset preference. The Singapore Summit will connect global executives and local experts across the liquidity chain to discuss volatility fluctuations, diversification vs over-reliance on single assets, and the role of trust and liquidity relationships in an increasingly automated sphere.
Asian markets bear unique characteristics, from connectivity to asset preference. The Singapore Summit will connect global executives and local experts across the liquidity chain to discuss volatility fluctuations, diversification vs over-reliance on single assets, and the role of trust and liquidity relationships in an increasingly automated sphere.
Asian markets bear unique characteristics, from connectivity to asset preference. The Singapore Summit will connect global executives and local experts across the liquidity chain to discuss volatility fluctuations, diversification vs over-reliance on single assets, and the role of trust and liquidity relationships in an increasingly automated sphere.
Asian markets bear unique characteristics, from connectivity to asset preference. The Singapore Summit will connect global executives and local experts across the liquidity chain to discuss volatility fluctuations, diversification vs over-reliance on single assets, and the role of trust and liquidity relationships in an increasingly automated sphere.
Asian markets bear unique characteristics, from connectivity to asset preference. The Singapore Summit will connect global executives and local experts across the liquidity chain to discuss volatility fluctuations, diversification vs over-reliance on single assets, and the role of trust and liquidity relationships in an increasingly automated sphere.
Asian markets bear unique characteristics, from connectivity to asset preference. The Singapore Summit will connect global executives and local experts across the liquidity chain to discuss volatility fluctuations, diversification vs over-reliance on single assets, and the role of trust and liquidity relationships in an increasingly automated sphere.
