Fazzaco Weekly Digest: IC Markets CFO Leaves for Zara FX; Exness' Trading Volumes Hit Record High for August; X Snatches Payment Licenses
Over the past week, financial services firms such as Exness, Interactive Brokers, Saxo Bank, Eurex, Tradeweb, Cboe Global Markets, and many others have released updates regarding their trading data for August 2023.
Meanwhile, the high frequency of senior executive turnover at financial companies, including IC Markets, oneZero, OnePro, ZenFinex, BDSwiss, INFINOX Global, Finalto and CMC Markets, has garnered significant industry attention.
Additionally, trading companies such as SquaredFinancial are actively seeking to recruit talented individuals to support their global expansion efforts.
The series of actions following Elon Musk's name change on Twitter to "X" is particularly eye-catching, gradually revealing his ambitions...
Here are the related details, as well as some of the most read forex, crypto, and fintech news pieces and articles from Fazzaco over the past week.
1. IC Markets CFO Yiannis Argyrou Leaves for Zara FX
Fazzaco learned that the seasoned Chief Financial Officer (CFO), Yiannis Argyrou has joined Zara FX, a multi-asset retail broker, from IC Markets.
"Yiannis brings a wealth of experience and expertise to our team, and we're excited to have him on board," Zara FX shared on LinkedIn.
2. Coinbase Creates New Crypto Lending Service Aimed at US Institutional Clients
The leading crypto exchange Coinbase has created a new crypto lending service in the U.S. for institutional clients, helping fill the void left by the blowups of firms like Genesis and BlockFi.
The platform was quietly revealed in a U.S. Securities and Exchange Commission filing on September 1, which showed $57 million had already been raised for the program.
Founder and CEO of SquaredFinancial Group Philippe Ghanem, a 20-year veteran in the financial industry, has issued an inspiring call for talents to join his leading company, highlighting the vital role of talents in driving the success of any firm.
As the Group is embarking on an exciting phase of expansion in the four corners of the world, the call for talent takes centre stage. Philippe Ghanem firmly believes that people are the cornerstone of any successful enterprise, catalysing growth and steering innovation. The current team, comprised of industry experts and professionals, has laid the groundwork for a revolutionary path, and now the company seeks to bolster this remarkable foundation with more forward-thinking minds.
4. Exness' Trading Volumes and Active Clients Hit New High in August!
Exness, the global leader in multi-asset trading, has continued its strong momentum in the month of August 2023, with its client trading volumes surpassing the prior record in July 2023.
The trading volumes on the platform for this period came in at $4.521 trillion, a remarkable increase of 36 percent from $3.91 trillion in the previous month.
In a recent Fazzaco report, following Elon Musk's rebranding of Twitter as "X," the company swiftly secured money transmission licenses across seven U.S. states within just a month. Elon Musk, the world's wealthiest individual, who made a staggering $43 billion investment to acquire Twitter, openly hinted at his aspiration to mold "X" into something reminiscent of PayPal during a recent gathering (it's noteworthy that PayPal's precursor was "X.com," an online financial services and email payment company founded by Musk in 1999). Yet, Musk's vision for the transformation of "X" appears to transcend the mere addition of payment functionality.
As September's golden autumn descended upon Cyprus, the climate transformed into a picturesque paradise. Yesterday, beneath the gentle caress of the Mediterranean breeze along the Limassol coastline, the AMARA Grand Hotel swung its doors open with exuberance, extending a warm welcome to luminaries from the global financial sphere, all gathered for the 2023 TradingLive Trading Influencers Awards Autumn Ceremony.
This grand event continued the resplendence of May's Trading Influencers Awards Ceremony, held in Malaysia, rekindling the focus on the financial arena. It delved deep into investment opportunities, unearthed exceptional trading influencers, and lauded industry leaders, providing a seamless blend of online and offline elements for those dedicated to the realm of financial investment.
7. FXCM Pro Announces Liquidity Bridging Partnership with Tools for Brokers
FXCM Pro, the institutional arm of FXCM, a leading international provider of online foreign exchange trading, CFD trading and related services has announced a liquidity bridging partnership with Tools for Brokers (TFB), an international technology provider for retail brokers, prop trading companies, and hedge funds.
FXCM Pro will be streaming its institutional liquidity directly to TFB clients, enabling them to connect pricing and trading to their MT4 and MT5 platforms using TFB's FIX API server. With this new partnership, FXCM Pro's clients will benefit from having an additional option when selecting a technology/bridge provider.
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