While there was certainly a lot of other news as well involving results, acquisitions, liquidity, trading volumes and platforms, this past week’s FX industry news was dominated by quite a number of executive moves, as the second quarter of 2022 drew to a close.

Who is the latest executive to leave ADSS, and join a rival UAE based broker?

Who is the latest departure from BDSwiss?

Which Amazon executive did OvalX (formerly ETX Capital) hire?

Answers to these questions, and a whole lot more, appeared first or exclusively this past week at FNG. Some of the most read and commented-on FX industry news stories to appear over the past seven days on FNG included:

Finalto launches Analytics Platform for its liquidity clients. Leading B2B multi-asset liquidity and clearing broker Finalto has announced that it has created a new analytics platform, to ensure that its liquidity clients get the best possible pricing. Volatility in the past few months has impacted some liquidity markets, but this new platform will ensure that Finalto’s liquidity clients are able to quickly identify trends with their liquidity flow in order to make adjustments. These adjustments, says the Head of Liquidity at Finalto, Andy Biggs, allow the company to offer better, more sustainable pricing.

FTX exploring acquisition of Robinhood. Shares of online, app-based brokerage Robinhood (NASDAQ:HOOD) soared by about 14% late Monday, after a report was released on Bloomberg that crypto exchange FTX was exploring an acquisition of the company. FTX, whose CEO Sam Bankman-Fried spent in the $650 million range to acquire a 7.6% stake in Robinhood which was revealed in regulatory filings last month, has looked at expanding out of the crypto-only niche for a while.

Forex TB reaches €270,000 settlement with CySEC. The Cyprus Securities and Exchange Commission (CySEC) today announced a EUR 270,000 settlement with Cyprus investment firm Forex TB Ltd. Forex TB operates the following approved domains: www.forextb.com and www.patronfx.com. The settlement concerns possible violations of the Investment Services and Activities and Regulated Markets Law of 2017 (“the Law”) the Directive DI144-2014-14 of the Cyprus Securities and Exchange Commission for the Prudential Supervision of Investment Services Firms (“the DI144-2014-14”).

Exclusive: Raj Sitlani on IS Prime’s growth as a liquidity provider. FNG Exclusive Interview… Alongside the amazing growth of activity at Retail FX and CFD brokers in the past two years, has been a parallel rise in prominence of a number of liquidity providers to brokers and professional traders, with IS Prime at the center of it all. We sit down with Raj Sitlani, who talks to FNG about IS Prime’s growth as a liquidity provider – and also about the ongoing litigation between IS Prime and ThinkMarkets.

Top FX industry executive moves reported at FNG this week included:

Elena Giardino

Exclusive: Equiti Group hires ADSS VP Sales Kinan Hassino.

Exclusive: OvalX hires Amazon exec Elena Giardino as Marketing PM.

Exclusive: BDSwiss’ Head of Bus Dev Costa Joannides departs.

Exclusive: MultiBank hires Ruslan Abuzant as Head of IT.

❑ Andrea Remyn Stone steps down from role as LSEG Group Head, Data & Analytics.


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