News Nuggets | 3 October: GMG Introduces MT5; IBKR Reports Lower DARTs in September

Interactive Brokers Reports Lower DARTs

Interactive Brokers Group, a global electronic broker, released its monthly performance metrics for September 2023. The report showed a decline in Daily Average Revenue Trades (DARTs) of 8% compared to the previous year and 7% from the prior month.

However, client equity stood at $369.8 billion, marking a year-over-year increase of 29% but a decrease of 2% from the previous month. The company also reported gains in client margin loan balances and client accounts, among other financial metrics.

Global Markets Group Introduces MetaTrader 5

UK-based regulated broker Global Markets Group has launched the MetaTrader 5 trading platform for its clients. The new platform offers a range of advanced features, including improved speeds, upgraded charting, and advanced trading tools. The company believes that the shift to MetaTrader 5 will cater to the growing interest in multi-asset trading and offer a more powerful trading experience.

"Our clients have the opportunity to trade various financial instruments based on a wide variety of assets covering 71 currency pairs, 6 commodities/metals, as well as 11 major indices, including FTSE 100, S&P 500, Dow Jones 30 and DAX 30. We offer Raw Trading Accounts with some of the lowest possible spreads available, such as an average EUR/USD spread of 0.1 pips with only a small commission of USD3.50 per lot payable per side," Global Markets Group representatives commented.

Swati Saxena Joins ADSS as SRM

The FC/CFDs industry veteran with over 15 years of experience, Swati Saxena, informed this week that she had joined ADSS as the Senior Relationship Manager (SRM). Previously, Saxena worked for almost three years for INFINOX Global in the Institutional Sales and Business Development Department.

In the past, Saxena was associated with CFI, Windsor Brokers, Hantec Markets, X Open Hub. Her first known position was at BGC Partners where she spent more than five years.

"I’m happy to share that I’m starting a new position as Senior Relationship Manager at ADSS," ADSS' new SRM commented.

UOB Joins LCH's SwapClear and ForexClear

United Overseas Bank (UOB) has become a direct clearing member of LCH SwapClear and ForexClear, marking a significant milestone for LCH in the Asia Pacific region. UOB is the first bank in Southeast Asia to join ForexClear and the first member globally to join both clearing services simultaneously. The membership is expected to provide UOB with various financial and operational efficiencies.

"We are delighted to welcome UOB as a member of our SwapClear and ForexClear services, which is testament to the vibrant banking landscape in APAC and more specifically, Singapore. APAC is a key strategic market and growth driver for LCH, and we are committed to enabling our members to benefit from economies of scale, along with margin, capital, and operational efficiencies that our services deliver," Isabelle Girolami, the CEO of LCH Ltd, said.

big xyt Unveils Real-Time Analytics Service

big xyt, a smart data and analytics solutions provider, has launched a real-time data analytics service. Developed in collaboration with one of the world's largest asset managers, the service processes billions of messages daily and offers a variety of use cases for the trading and investment industry. The analytics service aims to provide accurate and reliable market share and volume calculations intra-day.

"We have established a strong reputation with leading buy-side firms as the 'Golden Source' for European securities data. We are delighted to be able to take our proven data analytics expertise to the next level to meet growing industry demand for consolidated, normalised and real-time data analytics on European markets liquidity, particularly with respect to off-book volumes," Robin Mess, the CEO and Co-Founder at big xyt, said.

Sygnum Singapore Receives Major Payment Institution License

Sygnum Singapore, a subsidiary of Switzerland-based cryptocurrency bank Sygnum, has received a Major Payment Institution license from the Monetary Authority of Singapore. The license will allow the company to offer crypto brokerage services to accredited investors and institutions in Singapore.

APRA and ASIC Implement Financial Accountability Regime

The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) have introduced the Financial Accountability Regime (FAR).

The FAR aims to strengthen the responsibility and accountability framework for entities in the banking, insurance, and superannuation industries.

"We believe the regime will increase transparency and accountability in financial firms and help embed a culture of accountability for misconduct at an individual level – accountable individuals will need to understand and closely engage with their obligations under the FAR," Sarah Court, the Deputy Chair at ASIC, commented.

TradingView Advanced Charts Integrated into CoinDesk

CoinDesk has integrated TradingView Advanced Charts into its interface, providing users with real-time quotes and dynamic software for market analysis. The integration aims to offer traders more in-depth financial research tools and prepare them for crypto market movements.

"We believe that integrating TradingView tools into the CoinDesk interface will help traders make more informed decisions and navigate crypto markets more confidently and precisely," TradingView commented.

Goldman Sachs Appoints New Head for Australia and New Zealand ECM

Goldman Sachs has named Aaron Lamshed as the new head of equity capital markets advisory for Australia and New Zealand. The appointment comes as the bank's existing ECM Chief, Ian Taylor, steps aside to take on a corporate role.

The change is part of a series of shifts in the bank's upper management in the region.