Who bought FX trading analytics company FairXchange?
Which longtime Advanced Markets executive resigned, and is leaving the FX industry?
Which senior executives are the latest to leave UK broker Capital Index?
Why did NAGA.com operator NAGA Group AG say that it was terminating relationships with UK clients?
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:
United Fintech acquires trading analytics firm FairXchange. As a first transaction in a multi-stage acquisition towards full ownership, Christian Frahm’s fintech umbrella firm United Fintech has made its third purchase, acquiring a 25% stake in London-based FairXchange for an undisclosed amount in a transaction integrating the Company, its products and employees onto its digital platform. Trading firms use FairXchange’s state-of-the-art analytical tools to facilitate data-driven dialogue with their counterparties, bringing clarity and transparency to execution performance through the provision of independent data.
Exclusive: Natallia Hunik resigns from Advanced Markets. FNG Exclusive… FNG has learned that Natallia Hunik, Global Head of Sales and Chief Revenue Officer of FX direct market access provider Advanced Markets, has resigned from the company. We understand that she is leaving for another opportunity, outside of the FX/online trading sector. Natallia Hunik, one of the better known personalities in the FX industry, had been with Advanced Markets for almost seven years, joining in early 2015. She also served until last year as Global Head of Sales for the group’s liquidity provider technology arm Fortex, which also provides robust MT4 bridge solutions. Prior to joining Advanced Markets / Fortex she was Vice President of Worldwide Sales and Marketing at FX software provider Boston Technologies (later known as Forexware).
Exclusive: COO Heiko Mueller and CCO Marcus Ford leave Capital Index. FNG Exclusive… Looks like there are more management changes afoot at UK financial spreadbetting and CFDs trading firm Capital Index. (And, probably more to come). After we reported exclusively at the beginning of November that Capital Index had promoted Trevor Barwell to CEO, replacing Matthew Wright (who has since moved on to become CEO of Zenfinex), FNG has learned that two of Capital Index’s most senior officers have resigned from the firm – Chief Operating Officer Heiko Mueller, and Chief Compliance Officer Marcus Ford. Both have also resigned from the board of the group’s FCA regulated entity, Capital Index (UK) Limited. Heiko Mueller (pictured above) joined Capital Index in 2018 as Commercial Director, and was promoted to COO earlier this year.
NAGA plans NASDAQ IPO in 2022, terminating UK clients. NAGA is heading to the US. The fast-growing, Hamburg based social trading focused NAGA Group AG which operates Cyprus-based, CySEC licensed NAGA.com, has announced that it is planning an initial public offering (IPO) and an associated listing on the US technology exchange NASDAQ for 2022. NAGA said that its NASDAQ IPO and listing in the US could be completed as early as the second half of 2022, subject to market conditions and other conditions. At the same time, NAGA announced that its direct business relationships in regards to regulated activities with UK-based customers of the companies within the group are to be terminated in the course of December.
Top FX industry executive moves reported at FNG this week included: