FCA Report Finds £27m Lost to Crypto, Forex Scams

The UK’s Financial Conduct Authority (FCA), in conjunction with Action Fraud, has issued a report showing that last fiscal year £27 million was lost to crypto and forex investment scams. The report from the FCA and Action Fraud, a national reporting centre for fraud and cyber crime, found that the number of scams reported nearly […]

Argentex Reports Record Revenue, Profit Growth

Argentex, which provides FX services to corporate and private clients across EMEA, reported revenue and profit growth over the last 12 months, ending March 31st. It’s revenue over this period was £21.9 million, and the operating profit was £11.5 million. In a release issued today the firm says that this revenue, which represents a 66% […]

Trading Technologies Launches Connectivity to CoinFLEX

Trading Technologies (TT) is now offering connectivity to CoinFLEX, a cryptocurrency exchange for physically delivered futures, for traders outside the US. CoinFLEX, formerly CoinfloorEX, is incorporated in the Seychelles and is focused on the Asian retail trader market as well as the market for commercial hedging, including mining firms, OTC trading desks and global proprietary trading […]

Foulger joins Tokkyo FX

Mark Foulger has joined the market making firm, Tokkyo FX, as its new head of sales. “My focus, as the head of sales is looking at expanding the Tokkyo FX distribution network,” Foulger tells Profit & Loss. “Tokkyo started out as a buy side prop trading desk. It had a heavily data driven approach to […]

OpenFin appoints Dinsdale as Europe CTO

OpenFin, which offers and operating system (OS) for financial services, has hired Tim Dinsdale as its European CTO. In this role Dinsdale will be responsible for leading the firm’s technology efforts across the region, expanding OpenFin’s London-based development team and driving its desktop services initiatives globally. He is also set to lead the development and […]

P&L Talk Series with BNY Mellon’s John Arabadjis

John Arabadjis, head of markets macro strategy product and analytics at BNY Mellon, talks to Profit & Loss about the challenges associated with mining different data sources to produce new insights for investors. Profit & Loss: You were recently hired by BNY Mellon in the newly created role of head of markets macro strategy product […]

Seed CX Extends Trading Hours

Seed CX’s digital asset exchange (SXCM) is now open 22 hours a day, five days a week. The firm plans to move to 23/7 trading in the near futures, and says that the goal of SCXM’s extended hours is to “provide global traders with greater flexibility for trading”, giving market participants the ability to buy […]

CFH Clearing Launches Single Stock CFDs

CFH Clearing is now offering trading in single stock CFDs for retail brokers and high net worth individuals. CFH Clearing, TradeTech Group’s liquidity provider and prime-of-prime, will allow the single stock CFDs to be traded via all existing trading platforms and distribution channels, including MT4, MT5 and FIX API. The CFDs can also be fully […]

Koine Acquires Hireabl to Improve On-Boarding

Koine, which offers custody and settlement of digital assets, has acquired hireabl, a fintech company for automated client on-boarding. In a release issued today Koine says that it plans to make a number of strategic acquisitions of early stage tech-based, IP owners in order to fast-track the integrated end-to-end services that its clients are demanding. […]

Five on Friday: What Happened in Markets This Week

Lizzy Birmingham provides a brief roundup of the major FX moves this week, and the drivers behind each. 1) GBP Plummets Amid Uncertainty The British pound has hit a four month low. The continued drop in value has been caused by opposing parties failing to create Brexit deal and the looming resignation of Prime Minister […]