Capital.com
has announced the appointment of John Austin as Chief Strategy Officer. Austin,
an industry veteran with over two decades of experience in derivatives trading
and brokerage, will steer the company’s strategic direction, fostering
innovation and growth from his London base.
James Austin
“I look
forward to supporting Capital.com’s ambitions to diversify and grow its
clientbase, expand into new markets and cement its market-leading position,” Austin
commented.
His notable
background includes senior roles at IG Group, strategic development at Nadex
and Spectrum, and a recent stint as the Chief Strategy Officer at LMAX Group. His portfolio covers a period in investment banking with Barclays Capital and advisory
involvement with fintech startup Coinrule.
Austin, an alumnus of Cambridge University and London
Business School, will play a pivotal role in Capital.com’s continued
growth, as highlighted by the platform’s significant trading volume increase in
November 2023.
Robinhood Expands 24/7
Trading with over 200 Symbols
Robinhood
has expanded its 24-Hour Market, now offering over 200 stocks and ETFs for
round-the-clock trading. Initiated in May as the sole US retail brokerage
providing 24/5 trading, the platform’s recent addition of 135 new stocks and
ETFs marks a significant growth in its offerings.
This
expansion, also available in the UK, caters to the dynamic nature of
market-moving news, allowing customers to respond in real-time. The Robinhood
24-Hour Market reflects the company’s commitment to adapting to customer needs
and enhancing portfolio management flexibility.
BitMEX and PowerTrade Form
Strategic Partnership
BitMEX, a
leading crypto derivatives exchange, has forged a strategic partnership with
PowerTrade, an innovative crypto options platform. This collaboration is set to
enrich BitMEX’s product portfolio and bolster its standing as a pioneer in the
crypto trading realm.
Stephan
Lutz, the CEO of BitMEX, emphasizes the partnership’s alignment with their goal
to offer lucrative opportunities on a secure platform.
CAPEX.com Introduces ETFs
in UAE and KSA Markets
CAPEX.com,
a global online trading platform , has expanded its investment portfolio in the
Middle East with the introduction of ETFs tailored for the United Arab Emirates
and Saudi Arabia. This strategic initiative underscores the platform’s
commitment to providing region-specific investment opportunities.
The newly
launched ETFs, including the iShares MSCI UAE and Saudi Arabia ETFs, offer
investors an efficient way to access a broad range of local stocks, ensuring a
diversified investment approach.
FCA Issues Warning against
Christmas Loan Fee Fraud
The
Financial Conduct Authority (FCA) is alerting the public of the heightened risk
of loan fee fraud during Christmas. With research showing significant financial
pressure on UK households, especially parents, the FCA noted that many may be
vulnerable to fraudsters offering loans for Christmas expenses.
Almost half
of UK adults feel compelled to spend beyond their means, and over a quarter of
parents with young children are considering borrowing money for Christmas. The
FCA’s campaign includes a three-step checklist to help consumers avoid falling
victim to loan fee fraud, which typically results in significant financial
loss.
BMLL Completes China
Equity Data Offering
BMLL, a provider
of historical Level 3 data and analytics, announced the completion of its China
data offering, integrating data from Shanghai, Shenzhen, and Hong Kong
exchanges. This marks a significant step in BMLL’s APAC equities and ETF data
coverage expansion.
With the
inclusion of data from exchanges like CBOE Japan, Japannext, Singapore
Exchange, and others in the APAC region, BMLL is positioned to significantly
aid both buy-side and sell-side firms in improving trading decisions.
AAT Upholds ASIC’s Ban on
Financial Adviser
The
Administrative Appeals Tribunal (AAT) has upheld the Australian Securities and
Investments Commission’s (ASIC) decision to ban Victorian financial adviser
Pamela Anderson from providing financial services for two years.
The ban
follows ASIC’s findings that Anderson failed to act in her clients’ best
interests, prioritized her own interests, provided non-compliant advice, and
advised clients to invest in a high-risk fund operated by an entity related to
her former licensee. The AAT’s decision underscores the advisor’s independent
obligations and the significant impact of her misconduct toward clients.
Instinet Fined for
Compliance Failures in Crossing System
Instinet
Australia Pty Ltd has paid a penalty of $670,500 for failing to comply with
market integrity rules. The infringement notice issued by the Markets
Disciplinary Panel (MDP) highlighted Instinet’s shortcomings in providing
meaningful price improvement for off-market client transactions, disclosing
necessary information about its crossing system, and accurately reporting
regulatory data.
The
violations primarily concerned the incorrect referencing of the National Best
Bid and Offer in its BLX crossing system, affecting numerous trades. The MDP
criticized Instinet’s negligent approach to compliance, emphasizing the need
for ongoing system reviews and updates to protect client interests.
GSTechnologies Acquires
Majority Stake in Semnet Pte Ltd
GSTechnologies
Ltd, a fintech company, announced the acquisition of a stake of 66.67% in Semnet
Pte Ltd, a Singapore-based cybersecurity firm, for a total of US$1.8 million.
This acquisition is pivotal for GST as it strengthens its GS Money and B2B
Neobanking operations.
Semnet’s
cybersecurity expertise is deemed crucial for GST’s growing global Neobank
ecosystem and will support client onboarding and operational activities,
including the provision of white-label software solutions. Semnet will continue
catering to its existing client base, adding a profitable revenue stream for
GST.
SFC Warns of Suspected
Virtual Asset-Related Frauds
The
Securities and Futures Commission (SFC) has issued a warning about suspected
virtual asset-related frauds involving HongKongDAO and BitCuped. The SFC
suspects HongKongDAO of disseminating misleading information about its services
and falsely claiming regulatory compliance. Similarly, BitCuped has been
flagged for falsely associating itself with prominent individuals.
The SFC’s
actions, including blocking website access and issuing cease and desist
letters, reflect its commitment to protecting investors from potential fraud
in the virtual asset space.
Capital.com
has announced the appointment of John Austin as Chief Strategy Officer. Austin,
an industry veteran with over two decades of experience in derivatives trading
and brokerage, will steer the company’s strategic direction, fostering
innovation and growth from his London base.
James Austin
“I look
forward to supporting Capital.com’s ambitions to diversify and grow its
clientbase, expand into new markets and cement its market-leading position,” Austin
commented.
His notable
background includes senior roles at IG Group, strategic development at Nadex
and Spectrum, and a recent stint as the Chief Strategy Officer at LMAX Group. His portfolio covers a period in investment banking with Barclays Capital and advisory
involvement with fintech startup Coinrule.
Austin, an alumnus of Cambridge University and London
Business School, will play a pivotal role in Capital.com’s continued
growth, as highlighted by the platform’s significant trading volume increase in
November 2023.
Robinhood Expands 24/7
Trading with over 200 Symbols
Robinhood
has expanded its 24-Hour Market, now offering over 200 stocks and ETFs for
round-the-clock trading. Initiated in May as the sole US retail brokerage
providing 24/5 trading, the platform’s recent addition of 135 new stocks and
ETFs marks a significant growth in its offerings.
This
expansion, also available in the UK, caters to the dynamic nature of
market-moving news, allowing customers to respond in real-time. The Robinhood
24-Hour Market reflects the company’s commitment to adapting to customer needs
and enhancing portfolio management flexibility.
BitMEX and PowerTrade Form
Strategic Partnership
BitMEX, a
leading crypto derivatives exchange, has forged a strategic partnership with
PowerTrade, an innovative crypto options platform. This collaboration is set to
enrich BitMEX’s product portfolio and bolster its standing as a pioneer in the
crypto trading realm.
Stephan
Lutz, the CEO of BitMEX, emphasizes the partnership’s alignment with their goal
to offer lucrative opportunities on a secure platform.
CAPEX.com Introduces ETFs
in UAE and KSA Markets
CAPEX.com,
a global online trading platform , has expanded its investment portfolio in the
Middle East with the introduction of ETFs tailored for the United Arab Emirates
and Saudi Arabia. This strategic initiative underscores the platform’s
commitment to providing region-specific investment opportunities.
The newly
launched ETFs, including the iShares MSCI UAE and Saudi Arabia ETFs, offer
investors an efficient way to access a broad range of local stocks, ensuring a
diversified investment approach.
FCA Issues Warning against
Christmas Loan Fee Fraud
The
Financial Conduct Authority (FCA) is alerting the public of the heightened risk
of loan fee fraud during Christmas. With research showing significant financial
pressure on UK households, especially parents, the FCA noted that many may be
vulnerable to fraudsters offering loans for Christmas expenses.
Almost half
of UK adults feel compelled to spend beyond their means, and over a quarter of
parents with young children are considering borrowing money for Christmas. The
FCA’s campaign includes a three-step checklist to help consumers avoid falling
victim to loan fee fraud, which typically results in significant financial
loss.
BMLL Completes China
Equity Data Offering
BMLL, a provider
of historical Level 3 data and analytics, announced the completion of its China
data offering, integrating data from Shanghai, Shenzhen, and Hong Kong
exchanges. This marks a significant step in BMLL’s APAC equities and ETF data
coverage expansion.
With the
inclusion of data from exchanges like CBOE Japan, Japannext, Singapore
Exchange, and others in the APAC region, BMLL is positioned to significantly
aid both buy-side and sell-side firms in improving trading decisions.
AAT Upholds ASIC’s Ban on
Financial Adviser
The
Administrative Appeals Tribunal (AAT) has upheld the Australian Securities and
Investments Commission’s (ASIC) decision to ban Victorian financial adviser
Pamela Anderson from providing financial services for two years.
The ban
follows ASIC’s findings that Anderson failed to act in her clients’ best
interests, prioritized her own interests, provided non-compliant advice, and
advised clients to invest in a high-risk fund operated by an entity related to
her former licensee. The AAT’s decision underscores the advisor’s independent
obligations and the significant impact of her misconduct toward clients.
Instinet Fined for
Compliance Failures in Crossing System
Instinet
Australia Pty Ltd has paid a penalty of $670,500 for failing to comply with
market integrity rules. The infringement notice issued by the Markets
Disciplinary Panel (MDP) highlighted Instinet’s shortcomings in providing
meaningful price improvement for off-market client transactions, disclosing
necessary information about its crossing system, and accurately reporting
regulatory data.
The
violations primarily concerned the incorrect referencing of the National Best
Bid and Offer in its BLX crossing system, affecting numerous trades. The MDP
criticized Instinet’s negligent approach to compliance, emphasizing the need
for ongoing system reviews and updates to protect client interests.
GSTechnologies Acquires
Majority Stake in Semnet Pte Ltd
GSTechnologies
Ltd, a fintech company, announced the acquisition of a stake of 66.67% in Semnet
Pte Ltd, a Singapore-based cybersecurity firm, for a total of US$1.8 million.
This acquisition is pivotal for GST as it strengthens its GS Money and B2B
Neobanking operations.
Semnet’s
cybersecurity expertise is deemed crucial for GST’s growing global Neobank
ecosystem and will support client onboarding and operational activities,
including the provision of white-label software solutions. Semnet will continue
catering to its existing client base, adding a profitable revenue stream for
GST.
SFC Warns of Suspected
Virtual Asset-Related Frauds
The
Securities and Futures Commission (SFC) has issued a warning about suspected
virtual asset-related frauds involving HongKongDAO and BitCuped. The SFC
suspects HongKongDAO of disseminating misleading information about its services
and falsely claiming regulatory compliance. Similarly, BitCuped has been
flagged for falsely associating itself with prominent individuals.
The SFC’s
actions, including blocking website access and issuing cease and desist
letters, reflect its commitment to protecting investors from potential fraud
in the virtual asset space.
