Komainu Adds Gate.io; New Features on Fortex’s XForce

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BJ McAndrews Joins Academy Securities as Managing
Director, Head of Securitized Product Sales

Academy Securities, a certified Disabled Veteran
Business Enterprise and Minority Business Enterprise, has welcomed BJ McAndrews
as Managing Director and Head of Securitized Product Sales.

With 18 years of experience at Wells Fargo
Securities, McAndrews brings extensive knowledge in structured product sales
and trading. He is set to strengthen Academy Securities’ growing securitized
product platform, leveraging his expertise and deep client relationships.

Academy Securities is a prominent disabled
veteran-owned investment bank known for its commitment to mission-driven
initiatives and dedication to providing meaningful careers to veterans.

RoboForex’s Journey with MetaTrader 5
Sponsored VPS

Robo Forex Ltd has announced that it has been
providing its clients with MetaTrader 5 Sponsored VPS for over three years. Sponsored
VPS is a cost-effective option for the broker, as it is offered to actively
trading clients who meet predefined conditions, such as depositing a minimum of
USD 500 into their verified accounts, the company explained.

Sami Otman, RoboForex’s CBO, said: “We’ve been
providing sponsored hosting to our clients since July 2020. Looking back after
three years, we can say that it was a strategically correct decision. Our
primary goal was to attract new clients, and the success we’ve achieved, in
part, is attributable to the launch of the Sponsored VPS. Consequently,
RoboForex will continue to offer sponsored hosting as part of its ongoing
service to traders.”

Goldman Sachs’ Q3 Profit Declines Due to Fintech
Sale and Real Estate Bets

Reuters

In the third quarter, Goldman Sachs reported a
decline in profit, primarily attributed to a loss on its GreenSky fintech
business and investments in real estate. The Wall Street giant reported a net
profit of $2.06 billion, or $5.47 per share, for the three months ending on
Sept. 30, down from $3.07 billion, or $8.25 per share, in the previous year.

Goldman’s venture into consumer banking proved
costly, resulting in a loss of $3 billion over three years. The bank
incurred a loss of $506 million on GreenSky, in addition to a $1.4 billion
hit linked to the business in the second quarter.

FCA Warns against Admiral Markets Clone Firm

The
Financial Conduct Authority (FCA) has issued a warning about a clone firm
impersonating Admiral Markets, a legitimate FCA-authorized firm. The clone, known
as AdmiralsFX, has been contacting people and offering financial services
without authorization. The FCA has urged the public to avoid dealing with this
clone firm, as it does not offer the protections provided by the Financial
Ombudsman Service or the Financial Services Compensation Scheme.

The clone
firm has been using multiple email addresses and websites to scam people,
mixing these details with the genuine information of Admiral Markets to appear
credible.

Bank of America’s Q3 2023
Financial Results

Bank of
America (BofA) has released its financial results for the third quarter of 2023,
showing a 10% increase in net income to $7.8 billion. Revenue increased by 3%
to $25.2 billion, driven by higher interest rates and loan growth.

The bank
also saw a rise in noninterest income and a provision for credit losses of $1.2
billion. Bank of America’s CEO, Brian Moynihan, stated that the company
generated strong earnings despite a slowing economy and was able to continue
investments in people and technology.

Marqeta Partners with
Scalapay for BNPL Services in Europe

Marqeta, a
global modern card issuing platform, has partnered with Scalapay,
Southern Europe’s leading Buy Now, Pay Later (BNPL) provider. The partnership
aims to create a more seamless payment experience for both merchants and
consumers.

According
to Marqeta’s fall 2022 survey, 35% of respondents now use BNPL services more
than credit cards. The partnership will leverage Marqeta’s Just-in-Time Funding
feature to create and fund virtual cards for approved Scalapay consumers instantly.

Stax Payments Acquires
APPS to Expand Payment Processing Capabilities

Stax
Payments, a leading payment technology provider, has acquired Atlantic-Pacific
Processing Systems (APPS) to create an end-to-end payment processing platform.
The acquisition will expand Stax’s technology stack, offering flexible and
customizable options for payment processing.

The new
platform, to be called Stax Processing, will serve as the foundational layer
for fintech offerings and is expected to debut in Q4 2023. Members of the APPS
leadership team will join Stax, with APPS CEO Abe Maghaguian becoming Chief
Payments Officer at Stax.

Komainu Connect Adds Gate.io

Komainu, a regulated digital asset custody provider, has added Gate.io, a major digital asset exchange, to its Komainu Connect collateral management platform.

Launched in April, Komainu Connect enhances security by allowing clients to store assets safely while trading on Gate.io, eliminating the need to transfer assets for a safer and more independent investment experience for Gate.io’s institutional clients.

Darren Jordan, Head of Sales at Komainu

“We are delighted to add another leading exchange to our growing collateral management ecosystem,” said Darren Jordan, the Head of Sales at Komainu. “With the addition of Gate.io and a healthy pipeline of participants, we will continue to provide a vibrant and evolving offering for our clients.”

Fortex Introduces New Features on XForce

Fortex has updated its XFORCE trading platform with an array of new features, which, according to the technology provider, will further empower traders.

The newly added features are the display of the asking price line and instrumental details, improved language UI, intuitive search for instruments on market watch, quick chart access, extended history search, and broker’s contact email.

“Our primary goal is to provide our clients with the best trading experience possible,” said Aris Christoforou, a spokesperson for Fortex. “These new features and updates in XFORCE are a testament to our dedication to innovation, ensuring that our platform remains at the forefront of the industry.”

Broadridge Financial Solutions Brings NYFIX Fill Matching

Broadridge Financial Solutions (NYSE: BR) unveils NYFIX Fill Matching, a real-time FIX-based reconciliation platform designed for asset managers with high-volume and high-touch orders, unique in its ability to match fills between brokers and asset managers in real-time.

George Rosenberger, Head of NYFIX, Broadridge Trading and Connectivity Solutions

“As the T+1 time compression makes end-of-day processing challenging, Broadridge’s new Fill Matching Solution will rapidly identify trade discrepancies, enabling clients to address and fix these issues before the close of the trading day,” said George Rosenberger, the Head of NYFIX, Broadridge Trading and Connectivity Solutions.

“By reducing this key friction point, Broadridge is continuing to streamline and modernize the front-to-middle office environment for our buy-side clients.”

ZE PowerGroup Integrates Fenics Market Data’s Solutions

Fenics Market Data, a division within BGC Group, announced today (Tuesday) its partnership with ZE PowerGroup. With this, ZE’s clients, through its data management solution, ZEMA, will have access to the full suite of energy and commodities pricing data from Fenics.

“Delivering our unique datasets through a best-in-class data management tool such as ZEMA allows businesses to reduce manual intervention through enhanced data accuracy and consistency,” Rich Winter, the Global Head at Fenics Market Data. “This leads to faster trade execution and risk assessment while improving risk mitigation and reporting capabilities, benefiting all counterparties involved in the trade cycle.”

Goldman Sachs Fined by CME

CME Group has taken disciplinary action against Goldman Sachs, imposing a monetary penalty of $150,000. Although not detailed, the action came in response to a violation of written records of all performance bond calls.

Goldman Sachs agreed to the settlement by paying the fine but neither agreed nor denied the violations. “In accepting this settlement offer, the Committee agreed to waive the fine if no similar violation is found during the next risk-based examination,” CME stated in a notice.

BJ McAndrews Joins Academy Securities as Managing
Director, Head of Securitized Product Sales

Academy Securities, a certified Disabled Veteran
Business Enterprise and Minority Business Enterprise, has welcomed BJ McAndrews
as Managing Director and Head of Securitized Product Sales.

With 18 years of experience at Wells Fargo
Securities, McAndrews brings extensive knowledge in structured product sales
and trading. He is set to strengthen Academy Securities’ growing securitized
product platform, leveraging his expertise and deep client relationships.

Academy Securities is a prominent disabled
veteran-owned investment bank known for its commitment to mission-driven
initiatives and dedication to providing meaningful careers to veterans.

RoboForex’s Journey with MetaTrader 5
Sponsored VPS

Robo Forex Ltd has announced that it has been
providing its clients with MetaTrader 5 Sponsored VPS for over three years. Sponsored
VPS is a cost-effective option for the broker, as it is offered to actively
trading clients who meet predefined conditions, such as depositing a minimum of
USD 500 into their verified accounts, the company explained.

Sami Otman, RoboForex’s CBO, said: “We’ve been
providing sponsored hosting to our clients since July 2020. Looking back after
three years, we can say that it was a strategically correct decision. Our
primary goal was to attract new clients, and the success we’ve achieved, in
part, is attributable to the launch of the Sponsored VPS. Consequently,
RoboForex will continue to offer sponsored hosting as part of its ongoing
service to traders.”

Goldman Sachs’ Q3 Profit Declines Due to Fintech
Sale and Real Estate Bets

Reuters

In the third quarter, Goldman Sachs reported a
decline in profit, primarily attributed to a loss on its GreenSky fintech
business and investments in real estate. The Wall Street giant reported a net
profit of $2.06 billion, or $5.47 per share, for the three months ending on
Sept. 30, down from $3.07 billion, or $8.25 per share, in the previous year.

Goldman’s venture into consumer banking proved
costly, resulting in a loss of $3 billion over three years. The bank
incurred a loss of $506 million on GreenSky, in addition to a $1.4 billion
hit linked to the business in the second quarter.

FCA Warns against Admiral Markets Clone Firm

The
Financial Conduct Authority (FCA) has issued a warning about a clone firm
impersonating Admiral Markets, a legitimate FCA-authorized firm. The clone, known
as AdmiralsFX, has been contacting people and offering financial services
without authorization. The FCA has urged the public to avoid dealing with this
clone firm, as it does not offer the protections provided by the Financial
Ombudsman Service or the Financial Services Compensation Scheme.

The clone
firm has been using multiple email addresses and websites to scam people,
mixing these details with the genuine information of Admiral Markets to appear
credible.

Bank of America’s Q3 2023
Financial Results

Bank of
America (BofA) has released its financial results for the third quarter of 2023,
showing a 10% increase in net income to $7.8 billion. Revenue increased by 3%
to $25.2 billion, driven by higher interest rates and loan growth.

The bank
also saw a rise in noninterest income and a provision for credit losses of $1.2
billion. Bank of America’s CEO, Brian Moynihan, stated that the company
generated strong earnings despite a slowing economy and was able to continue
investments in people and technology.

Marqeta Partners with
Scalapay for BNPL Services in Europe

Marqeta, a
global modern card issuing platform, has partnered with Scalapay,
Southern Europe’s leading Buy Now, Pay Later (BNPL) provider. The partnership
aims to create a more seamless payment experience for both merchants and
consumers.

According
to Marqeta’s fall 2022 survey, 35% of respondents now use BNPL services more
than credit cards. The partnership will leverage Marqeta’s Just-in-Time Funding
feature to create and fund virtual cards for approved Scalapay consumers instantly.

Stax Payments Acquires
APPS to Expand Payment Processing Capabilities

Stax
Payments, a leading payment technology provider, has acquired Atlantic-Pacific
Processing Systems (APPS) to create an end-to-end payment processing platform.
The acquisition will expand Stax’s technology stack, offering flexible and
customizable options for payment processing.

The new
platform, to be called Stax Processing, will serve as the foundational layer
for fintech offerings and is expected to debut in Q4 2023. Members of the APPS
leadership team will join Stax, with APPS CEO Abe Maghaguian becoming Chief
Payments Officer at Stax.

Komainu Connect Adds Gate.io

Komainu, a regulated digital asset custody provider, has added Gate.io, a major digital asset exchange, to its Komainu Connect collateral management platform.

Launched in April, Komainu Connect enhances security by allowing clients to store assets safely while trading on Gate.io, eliminating the need to transfer assets for a safer and more independent investment experience for Gate.io’s institutional clients.

Darren Jordan, Head of Sales at Komainu

“We are delighted to add another leading exchange to our growing collateral management ecosystem,” said Darren Jordan, the Head of Sales at Komainu. “With the addition of Gate.io and a healthy pipeline of participants, we will continue to provide a vibrant and evolving offering for our clients.”

Fortex Introduces New Features on XForce

Fortex has updated its XFORCE trading platform with an array of new features, which, according to the technology provider, will further empower traders.

The newly added features are the display of the asking price line and instrumental details, improved language UI, intuitive search for instruments on market watch, quick chart access, extended history search, and broker’s contact email.

“Our primary goal is to provide our clients with the best trading experience possible,” said Aris Christoforou, a spokesperson for Fortex. “These new features and updates in XFORCE are a testament to our dedication to innovation, ensuring that our platform remains at the forefront of the industry.”

Broadridge Financial Solutions Brings NYFIX Fill Matching

Broadridge Financial Solutions (NYSE: BR) unveils NYFIX Fill Matching, a real-time FIX-based reconciliation platform designed for asset managers with high-volume and high-touch orders, unique in its ability to match fills between brokers and asset managers in real-time.

George Rosenberger, Head of NYFIX, Broadridge Trading and Connectivity Solutions

“As the T+1 time compression makes end-of-day processing challenging, Broadridge’s new Fill Matching Solution will rapidly identify trade discrepancies, enabling clients to address and fix these issues before the close of the trading day,” said George Rosenberger, the Head of NYFIX, Broadridge Trading and Connectivity Solutions.

“By reducing this key friction point, Broadridge is continuing to streamline and modernize the front-to-middle office environment for our buy-side clients.”

ZE PowerGroup Integrates Fenics Market Data’s Solutions

Fenics Market Data, a division within BGC Group, announced today (Tuesday) its partnership with ZE PowerGroup. With this, ZE’s clients, through its data management solution, ZEMA, will have access to the full suite of energy and commodities pricing data from Fenics.

“Delivering our unique datasets through a best-in-class data management tool such as ZEMA allows businesses to reduce manual intervention through enhanced data accuracy and consistency,” Rich Winter, the Global Head at Fenics Market Data. “This leads to faster trade execution and risk assessment while improving risk mitigation and reporting capabilities, benefiting all counterparties involved in the trade cycle.”

Goldman Sachs Fined by CME

CME Group has taken disciplinary action against Goldman Sachs, imposing a monetary penalty of $150,000. Although not detailed, the action came in response to a violation of written records of all performance bond calls.

Goldman Sachs agreed to the settlement by paying the fine but neither agreed nor denied the violations. “In accepting this settlement offer, the Committee agreed to waive the fine if no similar violation is found during the next risk-based examination,” CME stated in a notice.



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