What steps is Saxo Bank taking to pursue a sale of the company, following a failed attempt to go public?
Which former FX and CFD industry CEO is behind the launch of new white label solutions provider and broker FirstByt?
What executive moves were reported last week involving Trivepro, FXCM, ATFX, Exinity, GCEX and others?
Some of the most read and commented on FX/CFD industry news that appeared in the last seven days on FNG include:
Saxo Bank is hiring investment bankers to explore the sale. Copenhagen-based Retail FX and CFDs broker Saxo Bank has invited investment banks to play a role in helping to sell the company. The sale process is expected to begin later this year, depending on overall market (and company) conditions. Discussions at this stage range from pursuing an outright sale of the company to selling a minority stake to Saxo Bank with a subsequent route to providing liquidity to the company’s existing shareholders.
Exclusive: Former Admirals CEO Victor Gherbovet launches white label solutions provider FirstByt. Exclusive FNG… FNG has learned that Victor Gherbovet has launched a new SaaS solutions platform company serving both brokerages and exchanges called FirstByt (website firstbyt.com). The start-up provides end-to-end solutions, ranging from white label options to legal support, multi-asset liquidity, technology, payments, compliance assistance and marketing services. Victor Gherbovet worked at Estonia-based retail FX and CFDs company Admirals for 13 years from 2008 to 2021, ending his tenure at Admirals as co-managing director.
Prop Stocknet Institute integrates SiRiX to offer advanced trading solutions to its traders. Brands firm Stocknet Institute has announced its latest partnership with trading solutions provider Leverate. This partnership aims to enrich the trading experience of Stocknet Institute traders by integrating Leverate’s innovative trading platform, SiRiX, into its platform. The integration of SiRiX into Stocknet Institute’s trading programs will provide traders with an unparalleled opportunity to engage with a leading platform that enhances learning and trading strategies.
CFI launches Options trading on its multi-asset platform. Leading electronic trading provider CFI has announced the launch of Options trading on its Multi-Asset platform, providing investors with expanded opportunities and additional advanced trading capabilities. With this addition, CFI clients can now access a wide range of options in US securities, allowing investors to further diversify their trading strategies and optimize their investment portfolios with leading global stocks.
Top FX industry executive moves reported on FNG this week included:
❑ ATFX hires FXCM executive Siju Daniel as Chief Commercial Officer.
❑ Exclusive: Trivepro CEO Adam Dougall resigns.
❑ Options appoints James Hardcastle as Vice President Head of Sales, APAC.
❑ Katina Messinis leaves Exinity for the position of UAE Sales Director at GCEX.
❑ Exclusive: Exinity head of compliance Simon Henry departs.
❑ ASIC appoints Greg Yanco as Interim CEO, replacing Warren Day.