Fazzaco Weekly Digest: FactSet Acquires Cabot Investment Technology; Spendesk Raised €100M

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 past week.

1. FactSet Announces Acquisition of Cabot Investment Technology​

FactSet, a US-based financial data and software company, announced that the the company has acquired Cabot Investment Technology Inc., a privately owned technology company headquartered in Boston, Massachusetts.

According to the announcement, FactSet is planning to better support the workflows and decision-making of future and existing institutional asset management and asset owner clients.

This acquisition will enable FactSet clients around the globe to have more ready access to the powerful and unique analytics developed by Cabot over the past fifteen years. This represents an important advancement for the active management industry.

​2. Spendesk Secures €100M to Unlock Spend Management

The all-in-one spend management solution provider Spendesk announced that it has raised €100M in its Series C round for unlocking spend management for all finance teams.

Spendesk's Series Cround was led by global growth equity firm General Atlantic, with further investment from the firm's existing partners, including Index Ventures and Eight Roads Ventures. 

The company's spend management aims to streamline every aspect of spending & managing money at work: expenses, card payments, and invoice processing, but also approval workflows and accounting automation.

3. IG Group CCO Bridget Messer to Step Down

IG Group Holdings plc, a global online trading company providing CFDs and forex, announced that Bridget Messer, Executive Director and the Group's Chief Commercial Officer, had advised the Directors of her intention to step down from her role"for family reasons". 

According to the company's press release, Bridget will continue in her role to support an orderly transition over the coming months and will remain as a director of the Company until the date of the AGM, scheduled for 22 September, but will not stand for re-election.

4. Pepperstone, IronFX, ThinkMarkets and other 4 Companies are Hiring Now

As the COVID-19 pandemic continues to spread, there are stories almost daily about businesses furloughing employees or laying them off completely as demand dries up. 

Well, in FX, CFD and cryptocurrency industry, over a dozen national companies have announced substantial hiring plans. Here's a look at who's hiring and what jobs they're offering.

5. INFINOX to Stop Providing Services to Chinese Residents

INFINOX, a London-based Forex and CFD broker, issued an announcement on its official website, highlighting that as per the plan to exit from mainland China, it is now making some adjustments to its customer services in the region. 

6. ETX Capital Risk Director Speaks on Risks: Opportunities or Threats?

ETX Capital is a fast-growing, dynamic financial spread betting and CFD trading company based in the City of London. It provides investors with unrivalled levels of customer support from friendly, knowledgeable staff, all delivered with the utmost client confidentiality.

Nicolas Gavriel is the Risk Director for ETX Capital. Nicolas started his career in 2012 as an engineer but he soon moved into financial services. After completing his Master in Finance from the LSE he joined an investment bank where he got involved in regulatory capital and investment banking projects. Although he assumed various roles during his career, he specializes in Risk Management and Governance.

7. Swissquote Develops Investment Inspiration Widget to Provide Personalized Recommendation

Fazzaco learned that Swissquote, Switzerland's leading bank in online trading services, has developed a new "Investment Inspiration" widget which is now available on Swissquote's eTrading platform. Based on investors' trading histories, the solution can recommend investors a daily and personalized selection of stocks.

According to Swissquote, the recommendation system can identify investors that have made similar choices to yours and retrieves all the products purchased by those investors to expand your range of investment options in a relevant way. The system can also identifies your trading patterns, namely the characteristics of securities you are likely to buy.