News Nuggets | 27 July: DXtrade Teams Up with Acuity; Firm of Tickmill’s CEO Invests €3.5M

BidX Markets Wants to ‘Revolutionize’ Spread Betting with New Platform

BidX Markets, a London-based multi-asset liquidity solutions provider, has launched a spread betting platform targeted at professional traders in the UK. The platform will “revolutionize” the traders’ spread betting experience, the firms said in a statement released yesterday (Wednesday).

BidX further noted that the new platform offers access to a broad range of markets including forex, shares, indices and bullion. These markets can be accessed on the web, through a mobile application and also on MetaTrader 4, the company mentioned.

“Traders can diversify their portfolios and seize opportunities across global markets with this new product that allows access to multi-asset institutional liquidity derived from Tier1 banks, regional banks, ECNs and professional trading venues,” BidX explained.

FCA Extends Transaction Tag Exemption to Securities, Commodity Derivatives

The UK Financial Conduct Authority (FCA) on a temporary basis will no longer enforce compliance with its rules that require trading venues and investment firms to identify securities financing, commodity derivatives and over-the-counter trades in their transaction reports. The British watchdog, in the meantime, will also no longer punish the firms for failing to include the waiver indicator in their transaction reports. Firms used the waiver indicator to state whether a transaction has been waived from the reporting requirements.

The FCA announced the temporary measures today (Thursday). The regulator introduced a similar provisional policy for short-selling activities in January last year as part of temporary measures for the firms.

The measures serve as a placeholder while the watchdog studies policy options for a new transaction reporting regime under the European Union’s Markets in Financial Instruments Regulation (MiFIR).

FinVolution’s Subsidiary Partners with Seabank Indonesia

The Fintech company, FinVolution announced today (Thursday) that its Indonesian-based financial app, AdaKami, has partnered with PT Bank Seabank Indonesia, a digital lender targeting consumers and small businesses.

In the partnership, SeaBank will extend IDR 300 billion (USD $20 million) to AdaKami to enhance the platform’s API services in direct transactions. Additionally, the collaboration will enable AdaKami to facilitate instant transactions and support fintech solutions for customers.

KuCoin Reveals 40% of Young Japanese Investors Hold Crypto

KuCoin, a cryptocurrency exchange, has released a new report about the adoption of cryptocurrencies in Japan, revealing that 3.8 million Japanese adults aged between 18 and 60 have invested in digital assets.

Additionally, the report, dubbed ‘Into The Cryptoverse’, revealed that about 40% of the young Japanese crypto investors hold more than JPY ¥10,000 (equivalent to USD $70). Besides that, almost half of the young Japanese crypto investors trade multiple times per week.

Hong Kong’s Securities Regulator Licenses Depositories of Public Funds

Hong Kong’s Securities and Futures Commission (SFC) has started accepting license applications from the depositories of public funds. This new development is expected to bring the depositories under the direct supervision of the SFC.

In the regulator’s statement released today (Thursday), the depositories operating in Hong Kong are expected to submit their applications through SFC’s platform before November.

DXtrade Leverages Acuity's AI for Trading

Devexperts, the developer of DXtrade platforms, has teamed up with Acuity, a leader in AI-driven market insights. This collaboration brings innovative visual trading tools to DXtrade brokers, allowing their clients to identify potential investment opportunities.

Acuity’s advanced Natural Language Processing technology streamlines unstructured news into structured data, facilitating real-time detection of market patterns. As a result, DXtrade brokers can help clients discern granular opinions, spot market trends, and analyze disparate data sets.

Acuity’s AI scrutinizes a wide range of market insights, generating trading ideas and assessing market volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term by processing news sentiment and volume.

AgenaTrader and TradersYard Secure €3.5 Million Funding

Vienna-based Galaxy Ventures GmbH, the holding company behind AgenaTrader and TradersYard, has secured an investment of €3.5 million from Andromeda Capital Partners Suisse AG, a private equity firm. This investment signifies a crucial milestone for both AgenaTrader and TradersYard as they begin a transformative journey to redefine trading through advanced trading platforms and a cooperative social trading network.

“Andromeda was founded by Ingmar Mattus, who is also the co-founder of the globally operating trading fintech Tickmill and additionally a major shareholder in the Amsterdam-based investment app Change Group,” the press release stated.

From left to right: Manuel Sonnleithner, the COO AgenaTrader & Co-Founder at TradersYard, Gilbert Kreuzthaler, the Founder & CEO of AgenaTrader and the Co-Founder of TradersYard and Ingmar Mattus, the Founder of Andromeda Capital Partners Suisse AG & the Co-Founder at Tickmill Group.

eToro Introduces Fintech Exposure Portfolio

The Trading and investing platform, eToro has launched Fin-Tech, a new portfolio offering retail investors long-term exposure to companies driving the fintech revolution. The portfolio presents investors with a unique diversification opportunity as it merges the strength of the rapidly expanding tech industry with the stability of traditional financial institutions.

The new portfolio features a handpicked mix of top-performing companies from various fintech verticals, including paytech, insurtech, digital banking, and trading.

Caution against Aquafinance.ltd – an Imposter Website

Aquafinance.ltd has come under the scrutiny of New Zealand's FMA for offering unregistered financial services in New Zealand. It claims to be a registered company in the country, using the Certificate of Incorporation of a legitimate New Zealand company, Maritime Aqua Limited.

Maritime Aqua Limited's director has confirmed no association with Aquafinance.ltd. As a result, potential investors are advised to exercise caution when dealing with Aquafinance.ltd.

DMALINK and COMO Digital Life Forge Strategic Partnership

DMALINK (an ECN for professional Foreign Exchange traders) and COMO Digital Life (a global financial infrastructure provider) have entered into a key strategic partnership. This alliance leverages COMO Digital Life's cross-border payment expertise and DMALINK's FX proficiency to provide a comprehensive solution tailored to fast-growth innovative technology companies.

COMO Digital Life, based in Luxembourg, offers multi-currency IBAN accounts and a variety of services for platforms, corporates, payment service providers, and Fintechs.

Z Holdings Collaborates with OpenAI

Z Holdings Corporation has sealed an enterprise agreement with Open AI L.L.C., allowing the use of all APIs, including GPT-4. This enables LINE Corporation, its subsidiaries, and Yahoo Japan to leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term these APIs to boost operational productivity and service quality.

This service adheres to strict network restrictions and internal authentication to ensure secure usage within each company's internal network environment. This enterprise agreement paves the way for users to employ APIs in various business activities, including drafting, research, text categorization, translation, and idea generation, driving productivity and innovation.

SEC Accuses Investor of Insider Trading

The Securities and Exchange Commission (SEC) has charged an investor, Joseph C. Lewis, with providing illegal tips of material that was nonpublic information to his then-girlfriend, Carolyn W. Carter, and his two private pilots, Patrick J. O’Connor and Bryan L. Waugh. The SEC alleges that the information was used to execute trades, earning profits of over $545,000.

Lewis, who controls a biotechnology investment fund, allegedly breached confidentiality by illegally furnishing these tips to Carter, O’Connor, and Waugh on multiple occasions. This led to significant profits from increases in share price following announcements of capital raising and positive clinical trial results.

ASIC Appoints Morgan Stanley for Shares Sale in TMH

The Australian Securities and Investments Commission (ASIC) has appointed Morgan Stanley Wealth Management Australia Pty Ltd to sell 2,061,343 ordinary shares in The Market Herald Limited (TMH). This move follows a decision by the Takeovers Panel to vested shares in the Commonwealth for sale by ASIC, representing approximately 0.64% of TMH’s issued capital.

The sale process adheres to the ASIC’s orders, including that Morgan Stanley will use the most appropriate sale method to secure the best sale price. The shares must be sold within six months from Morgan Stanley's appointment, and specific individuals and their associates are restricted from acquiring any of the Sale Shares.