FX and CFDs industry news was dominated this past week by executive moves, as there were quite a number of senior execs on the move in the online trading sector including a new CEO at CFI Financial Group, new division heads at Revolut EU and STARTRADER LATAM, plus a new home and position for former Spotware Systems Chief Product Officer Denis Kiselev.
Why was Czech based, CySEC licensed CFDs broker Purple Trading fined €150,000?
What is unique with Leverate’s new Challenge Keeper retention engine for Prop Firms?
What else did XM.com founder and controlling shareholder Costas Cleanthous just buy?
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
Purple Trading operator hit with €150K CySEC fine for conflicts of interest, CFDs marketing. Cyprus financial regulator CySEC has announced that a settlement has been reached with the licensed CIF L.F. Investment Ltd, which operates the Purple Trading brokerage brand (at website purple-trading.com) for possible violations of the Investment Services and Activities and Regulated Markets Law of 2017 (‘the Law’) and the Regulation (EU) Νο. 600/2014 (‘the Regulation’).
Leverate unveils Challenge Keeper retention engine for Prop Firms. Leverate, a global fintech leader in white-label trading technology, has announced the introduction of Challenge Keeper, a market-first feature that empowers proprietary trading firms to retain more traders and unlock new monetization opportunities at critical challenge stages. In a market where most traders drop off after narrowly failing challenge conditions, Leverate’s Challenge Keeper changes the game. For the first time, prop firms can give traders a paid second chance, turning near-failures into repeat engagement and new monetization moments.
BPX gets FCA license to operate regulated marketplace for Traditional and Tokenised Securities. The UK exchange market is getting something of a shakeup, with startup exchange operator BPX announcing that it has received authorisation by the Financial Conduct Authority (FCA) to operate as a Multilateral Trading Facility (MTF), Alternative Investment Fund Manager (AIFM), Cryptoasset Exchange and Custodian Wallet Provider. BPX is also the only FCA-authorised trading venue to have passed Gate 1 of the Bank of England and FCA’s Digital Securities Sandbox (DSS).
XM.com’s Costas Cleanthous takes stake in Cyprus newspaper Phileleftheros. Fresh off of his takeover of Cyprus bank Ancoria earlier this year, XM.com founder and controlling shareholder Costas Cleanthous has apparently taken a major stake in another Cypriot institution, becoming an investor in the EU island nation’s oldest and most-widely-read Greek-language newspaper, Phileleftheros.
Bruce Markets secures strategic investment from Apex Fintech Solutions, Robinhood, tastytrade. Bruce Markets LLC today announced a major new strategic investment round led by some of the most prominent names in the financial industry, including Apex Fintech Solutions, Fidelity Investments, Nasdaq Ventures, NH Investment and Securities, PEAK6 Investments, Robinhood, tastytrade, and Webull. Bruce Markets said this funding represents a pivotal step in realizing Bruce ATS’s mission to expand access to U.S. market opportunities through enterprise-grade overnight trading technology.
Top FX industry executive moves this week
❑ CFI appoints Ziad Melhem as Group CEO.
❑ Exclusive: STARTRADER hires Vinícius Danze as LATAM Manager.
❑ Revolut hires Béatrice Cossa-Dumurgier as Western Europe CEO.
❑ Exclusive: RoboMarkets hires ex Spotware CPO Denis Kiselev as Head of Product for StocksTrader.
❑ CMC Markets hires Citi exec Christine Romar as Head of Europe.
❑ Edgewater Markets hires CME / NEX alum Paul Allmark as CTO.
❑ Broadridge hires JP Morgan exec Ken MacHarg as Global Head of Futures and Options Trading.
❑ Exclusive: Natallia Hunik joins blockchain data company Flipside as CRO.
