GPW Reports Rising Investor Activity
The Warsaw Stock Exchange GPW has released its investor activity report for June, disclosing an increase of 52% in the total equities turnover to PLN 27 billion. The group's electronic order book turnover increased 40% year-over-year to PLN 24.9 billion in the period.
Additionally, the report disclosed that the turnover for the ETFs, Electricity, and natural gas increased 40%, 2%, and 30%, respectively. Similarly, the derivatives turnover volume jumped 15% year-over-year to 1,814,500 contracts.
As of the end of June, GPW Group's market capitalization of 372 domestic companies listed on the main market was PLN 663 billion (EUR 149.2 billion), the exchange said.
Google to Use Public Information to Train AI
Google has updated its privacy policy to allow for the use of publicly available information to train its Artificial Intelligence (AI) products and services. The update was published on the company's website under the 'publicly accessible sources' section.
"We may collect publicly available information or from other public sources to help train Google's AI models and build products and features like Google Translate, Bard, and Cloud AI capabilities," the company wrote.
Shadi Salloum Appointed as XS.com's MENA Director
The global fintech provider, XS.com has announced the appointment of industry veteran Shadi Salloum as the new Regional Director for the Middle East and North Africa (MENA).
Salloum's main role will involve leading the growing team and overseeing the smooth operation of the firm's MENA operations.
"I am filled with anticipation as I prepare to embark on a new venture with XS.com, a dynamic and forward-thinking brokerage,” Shadi Salloum, the Regional Director (MENA) at XS.com, commented on his new venture.
“As the new Regional Director for the MENA region, I am enthusiastic about contributing my knowledge and experience to propel the company's achievements in the field of online trading.”
Tradoverse Adopts TraderEvolution's Solution
TraderEvolution Global, a trading software provider, has revealed that it has provided its trading solution to Tradoverse, a proprietary trading company. The platform offers traders various options without any commission and additional costs.
“At Tradoverse, we are proud to leverage TE state-of-the-art technology to redefine the trading experience. Our platform combines real-time market data, direct market access, and advanced trading front-end and back-ends functionalities powered by Trader Evolution,” Diego Fernandez, the Chief Executive Officer of Tradoverse, commented.
Fernandez emphasized that the platform offers a user-friendly interface and robust security measures. According to the CEO, Tradoverse is committed to pushing the boundaries of retail trading conditions, ensuring that users have the tools they need to succeed in the dynamic world of finance.
New Zealand’s FMA Issues Warnings
The Financial Markets Authority (FMA) New Zealand has issued a warning about Stake Funds, an investment company that has been found to operate without proper registration. The company is misleading investors by using the authentic details of a legitimate firm, Mercado Limited. Stake Funds has also been accused of unjustly withholding investor funds and demanding additional money before allowing withdrawals.
Capital Gold Investment is another company under the spotlight for false claims about being registered in New Zealand. The firm has been discovered to use a company's NZ Business Number (NZBN) removed from the New Zealand Companies Register. In addition, it is suspected of exhibiting fake banking and insurance certificates, withholding client funds, and operating without financial services registration as required by law.
Penalties for Select AFSL Entities
Australia's Federal Court has imposed a combined penalty of $13.6 million on Select AFSL, BlueInc Services, and Insurance Marketing Services for engaging in unethical conduct and contravening financial services laws.
According to ASIC, the court charged Russell Howden, the company’s sole director, with a $100,000 fine and a five-year ban from corporate management due to directorial duty breaches.
SEC Tightens Crypto Trading Regulations
The Securities and Exchange Commission (SEC) has decided to enforce stricter rules on cryptocurrency trading, aiming to bolster investor protection.
From 31 July, digital asset operators are required to include risk disclosures in their ads and are barred from offering services or supporting deposit-taking and lending.
Winklevoss's $1.5B Offer in Genesis Debt Talks
Cameron Winklevoss, the Co-Founder of Gemini, the crypto exchange, has proposed a ‘final offer’ of $1.5 billion in the debt restructuring discussions over the bankrupt digital asset firm, Genesis.
Earn Update: An Open Letter to @BarrySilbert pic.twitter.com/ErsYpcEjQD
— Cameron Winklevoss (@cameron) July 4, 2023
Winklevoss has criticized Digital Currency Group (DCG), the owner of Genesis, for its failure to devise a satisfactory plan to repay Genesis creditors and its missed payment of $630 million.
Egyptian Brokerage Firms Eye Gulf Markets
Egyptian brokerage firms are setting their sights on Arab Gulf markets following the latter's trading boom and steady increase in offerings.
Gulf Cooperation Council markets accounted for 21% of global subscriptions in 2022, compared to only 2% in 2021. On top of that, there has been a significant increase in the market value in the best-performing market in the region, the Abu Dhabi Securities Exchange.
Eurowag Acquires More Stake in JITpay
W.A.G payment solutions, better known as Eurowag, has chosen to exercise its call option to acquire an additional stake of 18.01% in JITpay, a Germany-based payment service provider.
Eurowag began its strategic partnership with JITpay in September 2022, when it initially acquired 9.99%.
