Also, the FCA released new warnings against unlicensed companies; LCH appointed a new CEO.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
UBS Announces Significant Job Reductions
The Swiss banking giant, UBS has unveiled plans to streamline
its workforce in the wake of its integration with Credit Suisse. UBS' CEO, Sergio Ermotti, announced that the
integration process will lead to the elimination of approximately 1,000 jobs
from Credit Suisse.
According to a report by CNN,
this move accounts for around 8% of the combined staff of the two banks in
Switzerland. The merger resulted in UBS reporting a net profit of USD $29 billion
in the second quarter, largely attributed to the accounting technicality linked
to the acquisition.
FCA's Wholesale Data
Market Study: Update
The Financial Conduct
Authority (FCA) is making significant progress in its wholesale data market study,
with plans to release the report by 1 March 2024. In the latest update, the
FCA has initially decided not to refer any of the three markets under scrutiny
to the Competition and Markets Authority (CMA).
While assessing these
markets, the FCA is reportedly closely examining concerns
related to the dominance of established firms, which could dampen competition.
Additionally, the updated report highlighted certain commercial practices that
might lead to greater complexity and reduced transparency in pricing and
contract terms.
Nomura Releases
Sustainable Corporate Value Report 2023
Nomura Holdings has
released the Nomura Report 2023, a comprehensive integration of its annual
report and citizenship report. This tradition, dating back to 2012, serves as a
platform to furnish clients, shareholders, employees, and shareholders with a
holistic view of Nomura's operations encompassing financial and
non-financial aspects.
Finance Magnates
The report underscores
the management's perspective and highlights instances of Nomura's strategies,
illustrating its commitment to augmenting corporate value in a sustainable manner
by contributing to economic and societal progress.
Bitget and CCData
Targets Institutional Data Services in New Partnership
The crypto derivatives
and copy trading platform, Bitget has entered into a strategic partnership with
CCData, an institutional-grade digital asset data provider. According to
Bitget, this collaboration reflects its commitment to delivering data solutions
for institutional investors.
Gracy Chen, the Managing
Director of Bitget, said: "Our partnership with CCData heralds a
new era of institutional-grade data exposure for our users. This venture
amplifies our platform's capabilities and endows our users with a competitive
edge within the dynamic digital asset landscape."
CQG Has Announced Retirement
of CQG Trader Platform
CQG, a trading
technology solutions provider, has announced that it will retire its CQG Trader
platform later this year. Starting from 1 July, the platform will no longer
accept new users, directing them to use the CQG Desktop instead. The company will
provide further information on the transition for current users.
The move
indicates a strategic shift for CQG, encouraging customers to transition to the CQG
Desktop. While specifics about the retirement process are yet to be disclosed,
it is clear that CQG is aiming to streamline its offerings and focus on more
modern solutions for its customer base.
X Expands Data
Collection Policy
X, formerly
known as Twitter, is updating its privacy policy to include biometric data
collection based on user consent. This move is a part of X's broader strategy
to enhance safety, security, and identification on the platform. However, the
specifics of what constitutes biometric data were not disclosed.
The policy
change comes amid ongoing criticism of social media companies for their data
collection practices. Elon Musk, who purchased Twitter last year, has been
vocal about his goal to authenticate accounts and promote services that apply a
blue checkmark, thereby indicating that the user is more likely to be human and
has paid a subscription fee.
FCA Issues New Warnings against
Unauthorized Firms
The
Financial Conduct Authority (FCA) has released a series of warnings against
companies that are not authorized or registered by the regulatory body. These
warnings were published on 31 August 2023, and target six different companies:
CAPTECINVLTD.COM, FUNDEDSIGNALTRADES, ALPHALUXSE, PINNACLE ASSETS, FX MONSTERS,
and Trade Rescue. The FCA advises the public to be cautious and to find out
more about the risks associated with unauthorized firms.
Liquidnet Becomes Plato
Partnership's First Strategic Partner
Plato
Partnership, a not-for-profit organization that brings efficiencies to
the equity marketplace, has welcomed Liquidnet as its first Strategic Partner.
Liquidnet, known for its technology-driven execution services, will contribute
to Plato's key initiatives that aim to innovate the capital markets.
These
initiatives include the Plato Strategic Initiatives Group, Plato's Market
Innovator (MI3) program, and the Turquoise Plato Expert Group. Each of these initiatives has specific aims, such as improving market structure and identifying
solutions for better trade execution.
Chris
Jackson, the Global Head of Equity Strategy at Liquidnet, expressed enthusiasm
for Plato's work and confirmed Liquidnet's commitment to leveraging technology
for more efficient financial markets.
Corentine Poilvet-Clédière
Takes the Helm at LCH SA
Corentine Poilvet-Clédière
LCH Group
has announced the appointment of Corentine Poilvet-Clédière as its
European-based clearing house's CEO of LCH SA, effective from 1 October 2023. She
will succeed Christophe Hémon, who has led the company since 2004.
Poilvet-Clédière brings over 15 years of experience in the financial markets,
having previously worked in strategic roles, including Head of RepoClear and
Collateral Management at LCH SA.
She will
report to Daniel Maguire, the CEO of LCH Group and Group Head of Post Trade at LSEG.
Corentine's experience in the financial markets, including her central role in
regulatory strategy at the London Stock Exchange Group (LSEG), makes her a
strong fit for the role.
Sumsub Introduces Free
Compliance Solution
Sumsub, a
global verification platform, is offering a six-month free trial of its Travel
Rule compliance solution for cryptocurrency organizations. This solution is right on time as the UK will enforce a new Crypto Travel Rule legislation to combat money
laundering and terrorism financing. The Financial Action Task Force (FATF)
Recommendation 16 will now extend to virtual assets and Virtual Asset Service
Providers (VASPs), requiring them to exchange and verify identifying
information for all transfers.
US
organizations operating in the UK must now adhere to this expanded legislation.
The new rule mandates compliance for all transactions, regardless of the
amount, although special requirements are in place for transactions exceeding
€1,000.
Goldman Sachs Faces
Scrutiny over Fintech Partnerships
US banking
regulators have raised concerns about Goldman Sachs' risk and compliance
oversight in its partnerships with fintech companies. A division of the bank's
transaction business has halted onboarding riskier fintech clients following a
warning by the Federal Reserve (Fed). The issues cited include insufficient due
diligence and monitoring processes for high-risk non-bank clients.
This
setback adds to the challenges Goldman Sachs is facing in its attempt to expand
into new business areas under the CEO, David Solomon. The Federal Reserve's
criticism highlights the need for stricter compliance measures, especially as
Goldman aims to provide banking infrastructure to fintech startups like Stripe
and Wise.
UBS Announces Significant Job Reductions
The Swiss banking giant, UBS has unveiled plans to streamline
its workforce in the wake of its integration with Credit Suisse. UBS' CEO, Sergio Ermotti, announced that the
integration process will lead to the elimination of approximately 1,000 jobs
from Credit Suisse.
According to a report by CNN,
this move accounts for around 8% of the combined staff of the two banks in
Switzerland. The merger resulted in UBS reporting a net profit of USD $29 billion
in the second quarter, largely attributed to the accounting technicality linked
to the acquisition.
FCA's Wholesale Data
Market Study: Update
The Financial Conduct
Authority (FCA) is making significant progress in its wholesale data market study,
with plans to release the report by 1 March 2024. In the latest update, the
FCA has initially decided not to refer any of the three markets under scrutiny
to the Competition and Markets Authority (CMA).
While assessing these
markets, the FCA is reportedly closely examining concerns
related to the dominance of established firms, which could dampen competition.
Additionally, the updated report highlighted certain commercial practices that
might lead to greater complexity and reduced transparency in pricing and
contract terms.
Nomura Releases
Sustainable Corporate Value Report 2023
Nomura Holdings has
released the Nomura Report 2023, a comprehensive integration of its annual
report and citizenship report. This tradition, dating back to 2012, serves as a
platform to furnish clients, shareholders, employees, and shareholders with a
holistic view of Nomura's operations encompassing financial and
non-financial aspects.
Finance Magnates
The report underscores
the management's perspective and highlights instances of Nomura's strategies,
illustrating its commitment to augmenting corporate value in a sustainable manner
by contributing to economic and societal progress.
Bitget and CCData
Targets Institutional Data Services in New Partnership
The crypto derivatives
and copy trading platform, Bitget has entered into a strategic partnership with
CCData, an institutional-grade digital asset data provider. According to
Bitget, this collaboration reflects its commitment to delivering data solutions
for institutional investors.
Gracy Chen, the Managing
Director of Bitget, said: "Our partnership with CCData heralds a
new era of institutional-grade data exposure for our users. This venture
amplifies our platform's capabilities and endows our users with a competitive
edge within the dynamic digital asset landscape."
CQG Has Announced Retirement
of CQG Trader Platform
CQG, a trading
technology solutions provider, has announced that it will retire its CQG Trader
platform later this year. Starting from 1 July, the platform will no longer
accept new users, directing them to use the CQG Desktop instead. The company will
provide further information on the transition for current users.
The move
indicates a strategic shift for CQG, encouraging customers to transition to the CQG
Desktop. While specifics about the retirement process are yet to be disclosed,
it is clear that CQG is aiming to streamline its offerings and focus on more
modern solutions for its customer base.
X Expands Data
Collection Policy
X, formerly
known as Twitter, is updating its privacy policy to include biometric data
collection based on user consent. This move is a part of X's broader strategy
to enhance safety, security, and identification on the platform. However, the
specifics of what constitutes biometric data were not disclosed.
The policy
change comes amid ongoing criticism of social media companies for their data
collection practices. Elon Musk, who purchased Twitter last year, has been
vocal about his goal to authenticate accounts and promote services that apply a
blue checkmark, thereby indicating that the user is more likely to be human and
has paid a subscription fee.
FCA Issues New Warnings against
Unauthorized Firms
The
Financial Conduct Authority (FCA) has released a series of warnings against
companies that are not authorized or registered by the regulatory body. These
warnings were published on 31 August 2023, and target six different companies:
CAPTECINVLTD.COM, FUNDEDSIGNALTRADES, ALPHALUXSE, PINNACLE ASSETS, FX MONSTERS,
and Trade Rescue. The FCA advises the public to be cautious and to find out
more about the risks associated with unauthorized firms.
Liquidnet Becomes Plato
Partnership's First Strategic Partner
Plato
Partnership, a not-for-profit organization that brings efficiencies to
the equity marketplace, has welcomed Liquidnet as its first Strategic Partner.
Liquidnet, known for its technology-driven execution services, will contribute
to Plato's key initiatives that aim to innovate the capital markets.
These
initiatives include the Plato Strategic Initiatives Group, Plato's Market
Innovator (MI3) program, and the Turquoise Plato Expert Group. Each of these initiatives has specific aims, such as improving market structure and identifying
solutions for better trade execution.
Chris
Jackson, the Global Head of Equity Strategy at Liquidnet, expressed enthusiasm
for Plato's work and confirmed Liquidnet's commitment to leveraging technology
for more efficient financial markets.
Corentine Poilvet-Clédière
Takes the Helm at LCH SA
Corentine Poilvet-Clédière
LCH Group
has announced the appointment of Corentine Poilvet-Clédière as its
European-based clearing house's CEO of LCH SA, effective from 1 October 2023. She
will succeed Christophe Hémon, who has led the company since 2004.
Poilvet-Clédière brings over 15 years of experience in the financial markets,
having previously worked in strategic roles, including Head of RepoClear and
Collateral Management at LCH SA.
She will
report to Daniel Maguire, the CEO of LCH Group and Group Head of Post Trade at LSEG.
Corentine's experience in the financial markets, including her central role in
regulatory strategy at the London Stock Exchange Group (LSEG), makes her a
strong fit for the role.
Sumsub Introduces Free
Compliance Solution
Sumsub, a
global verification platform, is offering a six-month free trial of its Travel
Rule compliance solution for cryptocurrency organizations. This solution is right on time as the UK will enforce a new Crypto Travel Rule legislation to combat money
laundering and terrorism financing. The Financial Action Task Force (FATF)
Recommendation 16 will now extend to virtual assets and Virtual Asset Service
Providers (VASPs), requiring them to exchange and verify identifying
information for all transfers.
US
organizations operating in the UK must now adhere to this expanded legislation.
The new rule mandates compliance for all transactions, regardless of the
amount, although special requirements are in place for transactions exceeding
€1,000.
Goldman Sachs Faces
Scrutiny over Fintech Partnerships
US banking
regulators have raised concerns about Goldman Sachs' risk and compliance
oversight in its partnerships with fintech companies. A division of the bank's
transaction business has halted onboarding riskier fintech clients following a
warning by the Federal Reserve (Fed). The issues cited include insufficient due
diligence and monitoring processes for high-risk non-bank clients.
This
setback adds to the challenges Goldman Sachs is facing in its attempt to expand
into new business areas under the CEO, David Solomon. The Federal Reserve's
criticism highlights the need for stricter compliance measures, especially as
Goldman aims to provide banking infrastructure to fintech startups like Stripe
and Wise.
Devexperts Powers First US Options Platform for Korean Retail Market
Marketing in 2026 Audiences, Costs, and Smarter AI
Marketing in 2026 Audiences, Costs, and Smarter AI
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Educators, IBs, And Other Regional Growth Drivers
Educators, IBs, And Other Regional Growth Drivers
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
The Leap to Everything App: Are Brokers There Yet?
The Leap to Everything App: Are Brokers There Yet?
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Mind The Gap: Can Retail Investors Save the UK Stock Market?
Mind The Gap: Can Retail Investors Save the UK Stock Market?
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
