FX week in review: Executive moves (TradingView, INFINOX, BDSwiss, Markets.com, Forex.com…), prop trading, IG results, PSG sponsor

Senior level executive moves continued to dominate FX and CFD industry news headlines this past week, with a variety of brokers and B2B suppliers to the sector positioning to execute on business plans in 2024.

Who is TradingView’s new CEO?

Which former LCG CEO has moved to INFINOX?

Which institutional FX firm just raised $30 million in fresh capital?

Which Retail FX and CFDs broker became the Official Online Trading Partner of French football club PSG?

There’s also news about yet another Retail FX broker launching an (offshore) prop trading offering, broker results, and lots more.

Some of the most read and commented-on FX/CFD industry news stories to appear over the past seven days on FNG included:

OANDA launches Labs Trader program. OANDA Global Corporation has announced the launch of OANDA Labs Trader, a trading program centred around profit sharing. OANDA Labs Trader is available to residents of countries serviced by OANDA’s Global Markets division, a firm authorised and regulated by the Financial Services Commission of the British Virgin Islands. The program is designed to give talented private investors and self-directed traders the unique opportunity to become signal providers, on a profit-sharing basis, to OANDA’s proprietary trading business.

Integral Development gets $30M investment from Vistara. Institutional FX tech provider Integral Development Corp has raised $30 million in growth financing from Vistara Growth, a provider of flexible growth capital to software and technology-enabled services companies. Proceeds from the growth financing will help expand Integral’s go-to-market teams and further the company’s product roadmap.

IG Group registers drop in revenues in H1 FY24 amid softer market conditions. Electronic trading major IG Group Holdings plc (LON:IGG) today announced its results for the six months ended 30 November 2023 (“H1 FY24”). Total revenue was £472.6 million in H1 FY24, down 9% on H1 FY23. OTC derivatives total revenue was £352.6 million, down 17% reflecting softer market conditions in the period, and lower levels of client activity. Exchange traded derivatives total revenue was £99.7 million, up 19% on the prior period. This includes tastytrade total revenue of £94.3 million, up 21%, benefitting from both increased interest rates and higher cash balances, offset by a reduction in net trading revenues, down 5%.

Swissquote launches securities lending. Swiss leader in online banking Swissquote offers its clients a new opportunity for additional income: They can lend their investment assets to reputable financial institutions for a monthly income while continuing to receive dividends and retaining the right to sell their securities at any time. Individual stocks and ETFs (exchange traded funds) are among the most attractive investment instruments, promising long-term value growth and returning profit participation in the form of dividends or other payments. By temporarily lending them out, clients can generate an additional income.

CFI sponsors Paris Saint-Germain as Official Online Trading Partner. Leading MENA online trading provider CFI Financial Group has announced a strategic partnership with world-renowned football club Paris Saint-Germain (PSG), to run until June 2026. CFI becomes the Official Online Trading Partner of Paris Saint-Germain. For three seasons, CFI will enjoy unique visibility with the support of Paris Saint-Germain.

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

Jana Zdravecka

❑ INFINOX hires former LCG CEO Jana Zdravecka as Managing Director.

Exclusive: Oleg Mukhanov named CEO of TradingView as Denis Globa departs.

Exclusive: Ex SquaredFinancial back office head Evi Teliopoulou joins BDSwiss.

❑ Markets.com names Elena Christodoulou as Head of Europe.

Exclusive: 26 Degrees / BDSwiss alum Georgio Nikolaou named VP Sales and Partnerships at Klarpay.

❑ Saxo Bank names John Carmichael its Chief Risk and Compliance Officer.

Exclusive: Stocktwits names India head Shiv Sharma as President.

Exclusive: William Klippel rejoins Forex.com to head Partnerships and Alliances.