Which crypto exchange operator paid $1.5 billion to acquire retail futures trading provider NinjaTrader?
How is neobroker Robinhood breaking into the Sports Betting market?
How did record results look like at each of Swissquote, and Tiger Brokers?
Which executive moves were seen at Axi, Spotware, Trading 212, EC Markets, Finalto, and Saxo Bank, among others?
Some of the most read and commented-on FX/CFD industry news stories to appear over the past seven days on FNG included:
Top FX and CFDs industry news stories this week
NinjaTrader confirms $1.5B acquisition by Kraken. Further to our report from earlier today that crypto exchange operator Kraken was in late-stage talks to acquire retail futures trading provider NinjaTrader, NinjaTrader confirmed that indeed an agreement had been reached, which will see NinjaTrader sold for $1.5 billion. The NinjaTrader acquisition makes Kraken a leader in the US futures market for both traditional and crypto trading, and accelerates its multi-asset-class ambitions – which include plans for equities trading and payments.
Capital.com’s Viktor Prokopenya offloads crypto business Currency.com to CXNEST. VP Capital Ltd., the investment arm of Capital.com controlling shareholder and London based entrepreneur Viktor Prokopenya, has announced that it has completed the sale of crypto exchange Currency.com to a group of investors represented by CXNEST Ltd, marking the end of an 18-month transaction process.
Robinhood plows ahead with Sports Betting, adding Event Contracts to its app. US neobroker Robinhood (NASDAQ:HOOD) has announced that its Robinhood Derivatives, LLC (RHD) unit has added a “prediction markets” hub directly within the Robinhood App, giving customers the opportunity to trade on the outcomes of some of the world’s biggest events. At launch, the hub will allow customers to trade contracts for what the upper bound of the target fed funds rate will be in May, as well as the upcoming men’s and women’s “March Madness” College Basketball Tournaments.
Swissquote targeting CHF 500M profit following record 2024 results. Leading Switzerland based online banking and trading provider Swissquote (SWX:SQN) has published its financial results for 2024, with the company seeing record Revenue and Net Profit figures for both the full year, as well as for the second half of the year, entering 2025 with strong momentum. Client trading volumes averaged $118 billion monthly at Swissquote during the second half of 2024, up slightly from $116 billion in 1H-2024.
Tiger Brokers operator UP Fintech sees record Revenues topping $100M in Q4-2024. UP Fintech Holding Limited (NASDAQ:TIGR), which operates the online brokerage brand Tiger Brokers, has announced its financial results for the fourth quarter of 2024 showing record quarterly Revenues but lower Net Profit for the company. Trading volumes at Tiger Brokers came in at a record $198.0 billion in Q4, or $66 billion monthly.
Top FX industry executive moves this week
❑ Exclusive: Axi hires PrimeXBT / Tickmill alum Pavlina Charalampous for Sponsorship marketing.
❑ Exclusive: Spotware CPO Denis Kiselev departs.
❑ Exclusive: Trading 212 Chairman Andrew Bole steps down.
❑ Exclusive: Dubai CFDs broker Stonefort hires Ahtesham Amin Syed as Head of Sales.
❑ Exclusive: BDSwiss alum Elena Yiangou joins Finera as Head of Marketing.
❑ Exclusive: EC Markets hires Equiti alum Gleb Kaplan as Head of Technology UK.
❑ Exclusive: Finalto R&D head Mikkel Kallerup Olsen departs.
❑ Exclusive: Deriv Prime lead Debbie Georgiou departs.
❑ TrioMarkets MENA CEO Natasha Kassar moves to YaMarkets.
❑ Exclusive: Saxo UK director Michael Ridley resigns.
