How much of the $19 million in client funds held at now-closed Australian Retail FX and CFD broker Prospero Markets do liquidators expect to be able to return? And how soon?
Why did the Tokyo Stock Exchange delist shares of INV Inc, operator of institutional FX broker 26 Degrees Global Markets?
What were Capital.com’s trading volumes in 2023 and Q1 2024? What is Capital.com’s most important geo?
What regulatory problem is Robinhood facing – despite posting its best quarter yet in Q1 2024?
Some of the most read and commented on FX/CFD industry news that appeared in the last seven days on FNG include:
Exclusive: Prospero Markets liquidators expect full recovery of $19 million in client funds. Exclusive FNG… FNG has learned that BRI Ferrier, the appointed administrator and liquidator of (former) ASIC-licensed Retail FX and CFDs broker Prospero Markets, has filed an initial client and creditor report stating that its preliminary inquiries indicate that there are sufficient funds to liquidate all customer claims to the Australian based broker.
Exclusive: Operator 26 Degrees INV Inc delisted from Tokyo Stock Exchange. Exclusive FNG… FNG has learned that Japanese exchange operator Japan Exchange Group has decided to delist shares of INV Inc (TYO:7338) from the Tokyo Stock Exchange. INV Inc operates Australia-based, ASIC-licensed services firm 26 Degrees Global Markets, which accounts for around half of its total income. At the time of its delisting, INV Inc had a market capitalization of JPY 7.03 billion, or US$46 million.
Capital.com trade volumes grow 53% in 2023 as MENA focus continues. Retail FX and CFDs broker Capital.com has announced that total client trading volumes will reach more than $1.2 trillion in 2023, or just north of $100 billion per month. The company said this is a 53% increase from a year earlier and marks the first time that client transaction volume has surpassed the $1 trillion mark annually since the company was founded in 2016. We recently reported exclusively that Capital.com is shifting the focus of its activities away from the UK and towards the MENA region.
Robinhood reports Revenue of $618 million in Q1 2024 with a 232% jump in Crypto activity. American neobroker Robinhood Markets, Inc. (NASDAQ:HOOD) saw its shares rise 7% in aftermarket trading on Wednesday after the company reported quite upbeat results for the first quarter of 2024. Robinhood reported record quarterly revenue of $618 million in Q1-2024, 40% increase year on year. However, the results follow news that Robinhood is facing some regulatory issues in its crypto business, with Robinhood Crypto LLC receiving a Wells notice earlier this week.
Top FX industry executive moves reported on FNG this week included:
❑ Exclusive: Taurex appoints Mark Sheng as Commercial Director.
❑ Suzuki Akihiko joins Finalto Asia as head of Japan markets.
❑ Exclusive: Ahmed Gomaa joins Doo Prime as Sales Manager.
❑ DHF Capital hires Erik Boekel as CCO.
❑ Valérie Urbain assumes the role of CEO of Euroclear.
❑ Tajinder Singh was appointed Secretary General of IOSCO, replacing Martin Moloney.