Before we get to the top stories of the week, we’re pleased to report that with another month in the books, it was another month of record traffic at FNG in September!
Whether it was Revolut launching a new CFDs trading app, XTB’s founder cashing out to the tune of $135M, an ownership change at HYCM, or a myriad of senior executive moves like TopFX hiring a new CMO, all the big FX & CFDs industry news stories were seen first or exclusively at FNG.
FNG’s search traffic also took another big leap forward in September, as Google and other search facilities continue to reward sites publishing original, exclusive, and non-promotional articles, while punishing the “copy sites” and those who disguise paid-for promotional nonsense as news.
Do you want your brand to be seen by senior level decision-makers, and all those who matter in the industry? Come talk to us!
And now on to this week’s top FX and CFDs industry news…
Where did cTrader developer Spotware CMO Elena Kupriianova move to – just half a year into her tenure at Spotware?
Which eFX provider – also backed by Citibank and HSBC – did ATFX just invest in? What does it mean for ATFX’s own ATFX Connect business?
What led to a 35% drop in profits at Trading 212 in 2023?
Which FX and CFDs industry executive did newly launched, MENA focused online broker Daman Markets just hire as its new COO?
Some of the most read and commented-on FX/CFD industry news stories to appear over the past seven days on FNG included:
Exclusive: Elena Kupriianova joins Kama Capital as CMO. FNG Exclusive… FNG has learned that experienced FX industry marketing executive Elena Kupriianova has left her position as Chief Marketing Officer (CMO) of cTrader platform developer Spotware Systems, to join MENA focused Retail FX and CFDs broker Kama Capital (website kama-capital.com), as its new CMO. Elena Kupriianova had joined Spotware just half a year ago, which included a relocation from Dubai to Cyprus.
ATFX makes strategic investment in Spark Systems. Leading global online trading provider ATFX has announced a new strategic investment in Spark Systems, a next generation, institutional-grade eFX trading platform based in Singapore serving clients in Asia and globally. ATFX is entering into this partnership with Spark Systems via a Series C investment. Spark Systems investors include leading venture capital companies and also global banks including Citibank and HSBC.
Trading 212 Group profits drop 35% in 2023, launches Australia branch. After seeing its Revenues drop by 17% in 2022, things stabilized somewhat at London/Sofia based online broker Trading 212 in 2023, with the company’s Revenue up slightly (by 1%), hitting £116.2 million (USD $152 million) versus £114.9 million the previous year. However a continued ramp-up in expenses – in particular advertising and staff costs – led to a 35% drop in Net Profit at Trading 212, from £34.2 million last year to £22.3 million in 2023.
ANZ becomes first Australian bank as liquidity provider on FXSpotStream. Multibank FX streaming service FXSpotStream has announced that ANZ (ASX:ANZ) has become the first Australian bank to join FXSpotStream LLC, a wholly owned subsidiary of LiquidityMatch LLC, extending the bank’s FX wholesale liquidity. FXSpotStream is a bank owned consortium founded in 2011 and provides fully disclosed, multibank, relationship-based trading services for FX and precious metals instruments.
FD Technologies to sell First Derivative Business to EPAM Systems for £230M. FD Technologies plc (LON:FDP) announces that it has entered into an agreement to sell the Group’s First Derivative Business to EPAM Systems, Inc. for an enterprise value of £230 million. The Divestment is expected to complete in the fourth quarter of 2024, subject to shareholder approval, amongst other things. After customary closing adjustments, transaction and separation costs, net cash proceeds are expected to be approximately £205m.
(Other) top FX industry executive moves reported at FNG this week included:
❑ Exclusive: Daman Markets adds Omar Qaryouti as COO.
❑ Exclusive: GTCFX Cyprus office head Sarah Hall returns to Axi.
❑ Exclusive: Exinity hires Zenus Bank exec John Woods as CSO.
❑ Exclusive: Mizuho hires UBS exec Alex Manakyan as Head of FX Trading Asia.
❑ Samer Alkhaldi joins HFM to head Business Development MENA.
❑ Exclusive: Zenfinex hires ATFX Connect exec Steve Whittet to head Institutional Sales.
❑ Exclusive: 3angleFX hires BDSwiss exec Nita Georgiadou as Head of Back Office.
❑ M4Markets hires Trade Nation exec Josh Fieldhouse as Head of Partnerships.
❑ Regulated crypto exchange One Trading adds Binance alum Marcus Bacchi-Howard as Head of Sales.
