Interactive Brokers has released its financial results for the first quarter ending March 31, 2024, highlighting a positive performance based on earnings and revenue. The company's net revenues experienced 13% growth at $1,203 million on a GAAP basis, driven by a boost in customers' accounts. Key Financial Highlights The online brokerage firm posted diluted EPS of $1.61 for the quarter, with a slightly higher adjusted EPS of $1.64. Compared to the same period last year, the reported EPS represents notable growth from $1.42 (GAAP) and $1.35 (adjusted). This marked a substantial increase from th ..read more

Saxo Bank is reportedly contemplating a possible sale of its business, according to a report by Reuters. This latest development happens after failed merger talks 18 months ago, with sources claiming that the Danish bank is searching for investment bankers to advise on the possible options. Exploring Possible Options Saxo Bank's sale, valued between 1.5 and 2 billion euros, is deemed substantial in the industry. Although the details of the deal remain unclear, sources who spoke to Reuters on condition of anonymity said that the firm is contemplating disposing of either a majority or a minority ..read more

Certo is excited to announce the official launch of its highly anticipated testnet, marking a significant milestone in the development of its groundbreaking p2p lending project. Designed to revolutionize digital transactions by offering unparalleled security, transparency, and stability of funds collateralized by Real-World Assets (RWAs), Certo's testnet is now open for community participation and feedback. Setting New Standards for Digital Currency The testnet phase is crucial for Certo, aiming to rigorously test the network's capabilities, assess its performance under various conditions, and ..read more

The once-siloed world of digital payments regulation is experiencing a jolting realignment. In a surprising display of international cooperation, the US Consumer Financial Protection Bureau (CFPB) and the European Commission have joined forces to tackle the burgeoning fintech industry. Since last July, these financial watchdogs have been conducting a series of hushed meetings, their focus narrowed on the vanguard of financial technology – a realm teeming with "buy now, pay later" (BNPL) schemes, tech giants wielding digital wallets, and the enigmatic rise of artificial intelligence (AI) in fin ..read more

Bim Afolami, the UK's Economic Secretary to the Treasury, dropped a bombshell recently. Not a metaphorical one, mind you – those are for politicians with less interesting pronouncements. No, this was a fintech fragmentation grenade, exploding into a two-pronged attack on the financial sector. On the one hand, a task force dedicated to open finance, championed by the Centre for Finance, Innovation and Technology (CFIT). On the other, a long-awaited set of regulations for the burgeoning world of cryptocurrency. Let's unpack this curious coupling. Open finance, for the uninitiated, is a system wh ..read more

Cryptocurrency exchanges are left with only nine months' worth of Bitcoin supply at current prices with only three days left to Bitcoin halving. According to the latest analysis by Bybit, with just 2 million bitcoins remaining and a daily inflow of $500 million to Bitcoin Spot ETFs, approximately 7,142 bitcoins will exit exchange reserves daily. Bitcoin's Supply Hits Unprecedented Scarcity The much-anticipated halving event, which reduces the supply of Bitcoins by 50%, is expected to make Bitcoin more scarce. Bybit highlighted the rapid rapid depletion of Bitcoin reserves across centralized ex ..read more

Acuity Trading, a provider of market analytics and trading solutions, has announced a strategic partnership with Excent Capital, a global platform specializing in trading solutions. The collaboration will see Excent Capital integrating Acuity Trading's state-of-the-art tools, including AnalysisIQ, Economic Calendar, and NewsIQ, across multiple languages to cater to its diverse clientele. Utilizing Technology for Enhanced Investor Trading Experiences Excent Capital is recognized for its utilizing technology to enhance trading experiences for investors. By incorporating Acuity Trading's advanced ..read more

The highly anticipated beginning of the Finance Magnates Africa Summit (FMAS:24) is almost here! With just one month to go until the biggest event of the year in Sandton City, South Africa, the hype is real. The premium event will take place on May 20-22 at the Sandton Convention Centre, showcasing several new additions from last year’s inaugural launch. This year will look to scale up, with the addition of the new Trader Zone, catering to the event’s sizable pool of retail traders. This hub will feature a robust slate of sessions, panels, workshops and more over two days. This includes one no ..read more

FP Markets has responded to client demand by expanding its commodity offering. This expansion aligns with the company's commitment to providing comprehensive trading solutions. Traders and investors at FP Markets can now capitalize on new opportunities in the commodities sector and diversify their portfolios. Introducing Brent Oil, Cotton, and Sugar Futures CFDs In addition to its existing range of Commodity CFDs, FP Markets clients now have access to trade and invest in Brent Oil, Cotton, and Sugar Futures CFDs. These new offerings are available on cTrader, MetaTrader 4, and MetaTrader 5 Trad ..read more

Celeris, a provider of payment solutions, has announced a strategic technical integration with PXP Financial, a payment service provider recognized for its payment technologies. The partnership aims to enhance payment processing capabilities for businesses globally. Payment Processes and Business Opportunities The collaboration between Celeris and PXP Financial is expected to simplify payment processes, expand business opportunities, improve transaction efficiency, and provide a seamless payment experience for both merchants and consumers. By combining Celeris' payment solutions with PXP Finan ..read more