Fazzaco Weekly Digest: CySEC Orders FTX EU to Suspend Operations; Equiti Opens New EU Office; Deriv's New Exec. Appointment

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. CySEC Orders FTX EU Ltd to Suspend Operations to Protect Investors

Cyprus's Securities and Exchange Commission asked FTX EU to suspend its operations on Nov. 9, the regulator said on Friday.

"The Cyprus Securities and Exchange Commission on Wednesday, November 9th, called upon the Cypriot Investment Firm FTX EU Ltd to suspend its operations and to proceed immediately with a number of actions for the protection of the investors," a statement from the Commission said.

2. Equiti Group Opens New European Office in Limassol, Cyprus

One month after obtaining the Cyprus license, Equiti Group, a leading provider of online trading technology and multi-asset financial products, announced on Monday (Nov. 14, 2022) that it has opened a new regulated office in Europe in Limassol, Cyprus.

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To date, Equiti Group has established local offices across the world, including Europe, the UK, the Middle East, the Americas, Africa, and the Asia Pacific regions.

3. Deriv Names Alexandros Patsalides as Head of Institutional Department

Deriv, an online trading platform, has named Alexandros Patsalides as its new Head of Institutional department.

Alexandros, with about 20 years of experience in management, business and IT, joined Deriv from EBO.ai, a virtual agent provider where he worked as Director of Financial Services Division for a year. Prior to that, he served as Sales Manager of EMEIA Region at Tools for Brokers, a leading technology provider for retail brokers operating on MT4/MT5. Previously, he had also held lead roles of business development and sales at different companies, including Fountech.ai, Soffos.ai, prospex and IBM.

4. Vantage Strengthens UK Institutional Business with the Launch of Vantage Connect

Vantage, an ASIC-licensed Forex and CFD broker, has launched its new institutional arm Vantage Connect for UK traders, as part of the company's wider strategic push to expand the institutional side of its business.

The launch of Vantage Connect is a response to the growing demand among hedge funds, family offices, banks, brokers, money managers and asset managers for bespoke trading solutions. The solution is targeted at providing liquidity services to institutions and corporates in the United Kingdom.

5. Eurex Introduces New Futures Referencing €STR

Eurex, one of the world's leading derivatives exchanges, is expanding its strategically important interest rate segment with the launch of Three-Month Euro STR Futures referencing €STR. The launch is an important milestone in both the establishment of the €STR as the new benchmark risk-free rate, and in expanding Eurex's EUR-denominated fixed income product offering.

6. Charbel Saleh Promoted as Head of Operation at Amana Capital

Amana Capital, the MENA's leading online financial trading firm, has promoted Charbel Saleh to Head of Operation.

Charbel has been with Amana Capital for almost 8 years. As seen on his LinkedIn profile, Charbel joined the broker as Customer Support/Operation Associate in 2015, and then hold the position of Customer Service Manager after two promotions. 

7. Tools for Brokers Buys a Match-Trader Server to Expand Its White Label Platforms Offer​

Tools for Brokers, a leading technology provider for retail brokers and hedge funds, expanded its offer of White Label platforms with the Match-Trader (MTR), an award-winning trading platform developed by Match-Trade Technologies.