Executive moves continued to dominate the FX and CFD industry headlines last week, with various brokers and B2B vendors in the industry laying down business plans in 2024.
Who is the new CEO of TradingView?
Which former CEO of LCG moved to INFINOX?
Which institutional FX firm just raised $30 million in new capital?
Which retail FX and CFD broker has become the Official Online Trading Partner of French football team PSG?
There’s also news about yet another retail FX broker launching an (offshore) trading offering, broker results and more.
Some of the most read and commented FX/CFD industry news that appeared in the last seven days on FNG include:
OANDA launches Trader Labs program. OANDA Global Corporation announced the launch of OANDA Labs Trader, a trading program focused on profit sharing. OANDA Labs Trader is available to residents of countries served by OANDA’s Global Markets division, a company authorized and regulated by the British Virgin Islands Financial Services Commission. The program is designed to give talented private investors and self-directed traders the unique opportunity to become token providers, on a profit-sharing basis, in OANDA’s proprietary trading business.
Integral Development receives $30 million investment from Vistara. Institutional technology provider FX Integral Development Corp has raised $30 million in growth funding from Vistara Growth, a provider of flexible growth capital to software and technology services companies. Proceeds from the growth funding will help expand Integral’s go-to-market teams and further develop the company’s product roadmap.
IG Group reports revenue decline in 1H24 amid softer market conditions. Electronic trading major IG Group Holdings plc (LON:IGG) has today announced its results for the six months ended 30 November 2023 (“H1 2024”). Total revenue was £472.6m in 1H24, down 9% on 1H23. Total OTC derivatives revenue was £352.6m, down 17% reflecting softer market conditions over the period and lower levels of client activity. Total trading derivatives revenue was £99.7m, up 19% on the previous period. This includes tastytrade total revenue of £94.3m, up 21%, benefiting from both higher interest rates and higher cash, offset by a 5% decline in net trading income.
Swissquote launches securities lending. Swissquote offers its clients a new opportunity for additional income: They can lend their investment assets to reliable financial institutions for a monthly income, while they continue to receive dividends and retain the right to sell their securities at any time. Individual stocks and ETFs (exchange-traded funds) are among the most attractive investment vehicles, promising long-term growth in value and rewarding profit sharing in the form of dividends or other payments. With their temporary loans, customers can generate an additional income.
CFI sponsors Paris Saint-Germain as an Official Online Trading Partner. Leading MENA online trading provider CFI Financial Group has announced a strategic partnership with world-renowned football club Paris Saint-Germain (PSG), which will run until June 2026. CFI becomes the Official Online Trading Partner of Paris Saint-Germain . For three seasons, CFI will enjoy unique exposure with the support of Paris Saint-Germain.
Top FX industry executive moves reported on FNG this week included:
❑ INFINOX hires former LCG CEO Jana Zdravecka as CEO.
❑ Exclusive: Oleg Mukhanov appointed CEO of TradingView as Denis Globa steps down.
❑ Exclusive: SquaredFinancial’s former head of back office Evi Teliopoulou joins BDSwiss.
❑ Markets.com names Elena Christodoulou as Head of Europe.
❑ Exclusive: 26 Degrees / BDSwiss alum Georgio Nikolaou appointed Vice President of Sales and Partnerships at Klarpay.
❑ Saxo Bank appoints John Carmichael as its Chief Risk and Compliance Officer.
❑ Exclusive: Stocktwits appoints India chief Shiv Sharma as Chairman.
❑ Exclusive: William Klippel returns to Forex.com to lead Partnerships and Alliances.