Which retail FX and CFD brokerage is merging with the NAGA Group and in the process taking 75% ownership in the combined company?
Why has Australia-based Prospero Markets’ China-focused Retail FX and CFDs ASIC license been suspended?
Who is eToro’s new regional manager for Italy?
Where has CMC Markets APAC Head of Institutional Sales Andrew Wood moved to?
Some of the most read and commented FX/CFD industry news that appeared in the last seven days on FNG include:
Capex.com acquires NAGA Group in reverse merger. Retail FX and CFD brokers NAGA Group and Capex.com have announced a merger between the two groups, which will see Capex.com shareholders become majority owners of the combined company. The combination will take place through a Reverse Merger between publicly traded The NAGA Group AG (ETR:N4G) and privately held Key Way Group Ltd, which manages the Capex.com brand.
Prospero Markets has had its ASIC AFS license suspended. Following us Exclusive FNG report last month that Australian police raided the offices of ASIC-licensed Retail FX and CFDs broker Prospero Markets as part of a wider crackdown on a China-based money laundering ring, Australia’s financial regulator ASIC said that it has now suspended the company’s Australian Financial Services (AFS) Licence. Prospero Markets is an Australian based broker serving mainly Chinese speaking clients in both Australia and the Far East.
iSAM Securities’ new Crypto Margin Facility – a conversation with Sam Johnson. Exclusive FNG interview… This September, London-based prime-of-prime brokerage and liquidity solutions iSAM Securities took a leap into the cryptocurrency world with the launch of its ground-breaking Crypto Margin Facility, which allows clients to deposit digital currencies as margin. Global Head of Business Development at iSAM, Sam Johnson, reveals the motivation behind this addition, his thoughts on the crypto space and how it fits into his vision for the future of iSAM Securities.
Exclusive: Startup Finyard – a conversation with CEO Dmitrij Pruglo. Exclusive FNG interview… Following our exclusive report from last week that Finyard had just launched in Cyprus as a new provider of FX & CFD broker technology platforms – and had added several high-profile executives to its roster, including the former CMO of XM and Trading.com, Rachel Demosthenous, as well as the head of Exness Affiliates Sergey Yarovoy – we thought it would be a good time to meet Finyard founder and CEO Dmitrij Pruglo.
Top FX industry executive moves reported on FNG this week included:
❑ eToro appoints Massimo Citoni as Regional Director for Italy.
❑ CMC APAC Head of Institutional Sales Andrew Wood joins IG Prime.
❑ XS.com hires Fabian Frantz from INFINOX for South Africa BizDev.
❑ IG North America appoints new CFO and CTO.
❑ Plus500 proposes changes to the terms of Anne Grim’s proposed election.