Who has made a $6 billion takeover bid for British online broker Hargreaves Lansdown?
Why did Australian regulator ASIC effectively shut down TMGM Retail FX and CFD broker operations, stopping TMGM (at least temporarily) from onboarding new clients or executing new client trades?
What is unique about the new institutional ECN, MEX Exchange?
What new B2B partnerships were signed this week in FX & CFDs?
Some of the most read and commented on FX/CFD industry news that appeared in the last seven days on FNG include:
Shares in Hargreaves Lansdown are up 14% after its $6 billion takeover bid was rejected. Shares in British online brokerage Hargreaves Lansdown plc (LON:HL) traded up more than 14% on Thursday after private equity suitors CVC Capital, Nordic Capital and the Abu Dhabi Investment Authority (ADIA) disclosed a takeover bid for Hargreaves ). ) via the Platinum Ivy module. Although the takeover bid was summarily rejected by Hargreaves’ board, it appears that traders and shareholders are expecting some kind of takeover battle for Hargreaves above the initial offer price.
ASIC issues orders to protect retail investors from acquiring CFDs or FX from TMGM provider Trademax. The Australian Securities and Investments Commission (ASIC) has issued two interim stop orders preventing Trademax Australia Limited from opening trading accounts or trading contracts for difference (CFDs) or margin FX contracts to retail investors. ASIC acted following concerns that Trademax had failed to take reasonable steps that might result in its conduct being consistent in the distribution of retail products with two target market definitions (TMDs).
MultiBank launches MEX Exchange as the first global ECN based on BRICS/GCC. Leading online brokerage MultiBank Group has announced the launch of a ground-breaking Institutional Investor Electronic Communications Network (ECN) called MEX Exchange. Headquartered in Dubai, MultiBank said MEX Exchange is the world’s first global Institutional Investor Electronic Communications Network (ECN) based in BRICS and GCC countries, including Prime Brokerage facilities and other related infrastructure that is set to redefine the financial landscape.
FX & CFD industry B2B partnerships launched last week include:
Top FX industry executive moves reported on FNG this week included:
❑ Exclusive: Former head of Saxo Bank Markets, Claus Nielsen, appointed Chairman of neobroker Pluto.
❑ CobaltFX Names Stephen Nelson COO, Daniel Evans CPO.
❑ NinjaTrader Adds Ryan Pitylak, Aditya Nishandar, John O’Neil, Michael Krafft to Executive Team.
❑ Bitget appoints Gracy Chen as CEO.
❑ Exclusive: Euroclear’s Taskize sees sales chief Alan Samuel leave.