Fazzaco Weekly Digest: Admirals Obtains Kenya License; Brokers Personnel Moves 2022; CMC Invest Moves into ESG Space

Take a look at the latest happenings in this week's news digest from around the forex, fintech and crypto industry. Here are some of the top headlines from this week.

1. Admirals Obtains Kenya License, Further Expanding into Africa​

Admirals Kenya Limited, the Kenyan unit of Estonia based Retail FX and CFDs broker Admirals, has been licensed as a non-dealing online forex trading broker in the East African country by the Kenya's Capital Marekts Authority (CMA).

Admirals has long been eyeing the African market. The new license comes after the company obtained broker license in South Africa in June in 2022.

2. Brokers Personnel Moves 2022: Talents Gathers in MENA, "She-Power" Needs to Be Taken Seriously​

The year 2022 sees remarkable changes across the global forex markets. To meet the needs of the market and fulfill their business goal, brokers have recruited or promoted some outstanding talents to strengthen their leadership teams.

Fazzaco keeps a close eye on developments in the forex markets and the movements of brokers. We analyzed 62 key personnel changes at 42 leading brokers in 2022, with the hope that it will provide some insight into where brokers are possibly headed and and their preference in talent appointments.

3. Stock Trading Platform CMC Invest Moves into ESG Space

Stock trading platform CMC Invest has entered the ESG space, starting to display ESG data for stocks, exchange-traded funds (ETFs) and investment trusts in its mobile investing app.

Launched in October 2022, the platform has equipped with new features to provide ESG information to clients based on their concerns about ethical issues and profits.

4. Listen to the Article: Year-End Review of the Investment Attracting Action Plan in Cyprus

On October 2021, the Council of Ministers of Cyprus approved the "Strategy for Attracting Businesses for Activities or/and Expansion of their Activities in Cyprus".

Now one year has passed, let’s take a look at what the new strategy has brought to Cyprus so far in terms of attracting new businesses.

5. Refinitiv Posts 4.7% Monthly Decrease in FX Trading ADV for November 2022​

Refinitiv, the former Financial and Risk business of Thomson Reuters and one of the world's largest providers of financial markets data and infrastructure, has released its trading data for November 2022, showing that its average daily volumes (ADV) of currency trading reached the lowest this year, apart from September.

The ADV of currency trading came in at $428 billion in November, fell by 4.7% on a monthly basis, slightly higher than the weakest in two years, $413 billionin September.

6. OKX Releases Its Second Proof of Reserves to Meet Investor's Growing Demands

Cryptocurrency exchange OKX has released its second Proof of Reserves (PoR) report, amid growing demands from crypto investors for transparency from cryptocurrency exchanges.

The PoR was published on its official website, showing the company's on-chain and off-chain asset balances, as well as a complete list of wallet addresses.

OKX has also promised to release its monthly report on the 22nd of each month for clients to know about its reserves on a regular basis.

7. CXM Prime Secures FCA License, Names Ashraf Sleiman Agha as CEO​

London-based forex and CFDs broker CXM Prime, part of CXM Group, has been authorized by the UK's Financial Conduct Authority (FCA) to offer brokerage services in the country.

At the same time, the broker also appointed Muinmos ApS's Board Member Ashraf Sleiman Agha as its CEO and Peter Wilson as its Head of Compliance.