News Nuggets | 23 March: ZuluTrade's New License; Playtech's Results

FX Broker Orbex Eyes New Traders with Double Profit Campaign

Orbex, a forex and CFDs trading services provider, has launched a limited-time campaign to double the profit of new traders registered its Mauritian subsidiary, Orbex Global Limited. The broker said it was offering 100% profit top up for its new clients’ first ten trades.

Intertrader Hires Capital.com’s Joe Rundle as CEO

Intertrader, a spread betting and CFDs provider, has appointed Joe Rundle, the former Chief of Staff at rival Capital.com, as its Chief Executive Officer. Rundle, who will resume the new role in early April, confirmed his appointment to Finance Magnates on Thursday. Read more here.

FCA Announces Joint Executive Directors for Enforcement and Market Oversight

Financial Conduct Authority, the UK's financial market supervisor, has announced the appointment of joint Executive Directors of Enforcement and Market Oversight. Following the retirement of Mark Steward last October, the role will be assumed by Steve Smart and Therese Chambers. Read more here.

Atlas Chooses Broadridge for Enhanced Impact Investing Solutions

Broadridge Financial Solutions (NYSE:BR), a technology solutions provider for broker-dealers and financial markets participants, has announced a partnership with a hedge fund manager that concentrates entirely on impact investing, Atlas Responsible Investors.

Read the full story here.

FTX Reaches Agreement to Recover over $400 Million in Cash from Modulo Capital

FTX, the bankrupt crypto exchange, has reportedly secured a deal to recover over $400 million in cash from the hedge fund, Modulo Capital. This agreement will allow FTX companies to recover 97% of the funds sent to the hedge fund in 2022, as per court documents filed on Wednesday.

#FTX reaches deal to recover over $400 mln from hedge fund Modulo$FTT

— Pari Passu (@paripassu8) March 22, 2023

cTrader Supplements FP Markets' Trading Platforms Suite

FP Markets, an online financial trading services provider, has expanded its suite of retail trading platforms. The existing software offering from MetaQuotes has been complemented by Spotware Systems' flagship tool, cTrader. Read more here.

90% of Market Participants See Elevated Risk in Moving to T+1 Settlements

Torstone Technology, a provider of post-trade securities and derivatives processing, together with Firebrand Research, a capital markets research provider, has presented a study regarding the challenges and impacts of plants to reduce the settlement cycle in North America and potentially in the UK over the next 24 months.

Read the full story here.

ZuluTrade Launches Operations in Mauritius

ZuluTrade, a social trading platform owned by Finvasia, obtained regulatory approval from the Financial Services Commission (FSC) of Mauritius. The Investment Banking Licence was granted to Finvasia Capital Limited in January 2023 with which ZuluTrade can provide wealth management services.

Read the full story here.

Playtech Generates €1.6B Revenue in 2022

Playtech published its financials for the fiscal year 2022, reporting a 33 percent jump in revenue to €1.6 billion due to strengthened B2B business and the performance of its subsidiary, Snaitech. It reported an adjusted EBITDA of €405.6 million for the fiscal year 2022, which is 20 percent higher (22 percent on a constant currency basis), which is in line with the expectations.

Read the full report here.

TrioMarkets Onboards New MENA CEO

TrioMarkets, an FX/CFDs broker established in 2014, strengthened its presence in the Middle East by onboarding Natasha Kassar as the new MENA Chief Executive. She is based out of the broker's Dubai representative office.

TrioMarkets is a boutique broker that operates within the European Union and globally, with licenses obtained from regulators in Cyprus and Mauritius. It also holds authorization in Dubai for its local representative office.

Read the full report here.

Coinbase Expects SEC's Enforcement Action

The US Securities and Exchange Commission (SEC) sent a Wells notice to the crypto exchange, Coinbase for possible violation of the US securities law with unregistered securities listings. Though the regulator did not provide any details, the Nasdaq-listed crypto firm is expecting enforcement actions against it.

Read the full report here.

eToro Enhances Charting with TradingView Partnership

eToro has added investment charting tools to its social trading platform through its partnership with TradingView, a US-based charting and social network. The broker termed the integration as "a major upgrade for our members."

Read the full report here.