FX week in review: Liquidity.net launch, UEFA Europa sponsor, results from ETX, CMC, Equiti, Admirals

Which Retail FX broker launched a new institutional service under the Liquidity.net brand?

Which Retail FX broker sponsored an entire sports league (UEFA Europa)?

How did results reported by ETX Capital, CMC Markets, Equiti Capital, Admirals, FINSA Europe, and ICM.com pan out?

Which FX industry executive moves involved eToro, Trading 212, Equiti Group, Tradeweb, and Exness?

Answers to these questions and a whole lot more appeared first or exclusively this 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:

ThinkMarkets launches institutional business with Liquidity.net. After celebrating a decade in the market as a retail brokerage, ThinkMarkets has now introduced Liquidity.net, a foray into multi-asset liquidity provision aimed at servicing institutional and professional clients. Liquidity.net is a registered trading name in the UK with the Financial Conduct Authority (FCA) and has established offices in London and Dubai. Integrating a list of top-tier technology vendors into the offering, Liquidiy.net aims to service banks, brokers, hedge funds, and asset managers by leveraging its prime broker relationships.

Swissquote sponsors the UEFA Europa League. Why just sponsor a team, when you can sponsor the whole league? Gland, Switzerland based Retail FX broker Swissquote (SWX:SQN) took sports sponsorships a step ahead, announcing a new deal which will see it become the official sponsor of UEFA Europa League and UEFA Europa Conference League. The two partners have agreed on a comprehensive sponsorship package over a period of several years. Swissquote said that its aim is to increase brand recognition in Europe, and build on the momentum of its dynamic growth in recent years. Swissquote is the first online bank to enter an exclusive partnership with the UEFA. Among other things, the agreement covers perimeter advertising and hospitality at all 282 games of the UEFA Europa League and the newly founded UEFA Europa Conference League seasons

ETX Capital posts 48% revenue rise in 2020, pivoting to neobank strategy. London based FX and CFDs broker Monecor (London) Ltd, which operates the ETX Capital brand, has reported its financial statements for 2020 showing a nice rise in revenues for its new ownership group. However a parallel growth in expenses left the company at basically breakeven for the year. ETX Capital revenues were up 48% in 2020 over 2019, £31.8 million versus £21.3 million. However revenues remain below the £35-41 million range hit in 2014-2016 at ETX. Net profit for 2020 was £428,000, improved from a £2.6 million loss in 2019. Client assets held by ETX Capital nearly doubled in 2020, £188.8 million versus £96.9 million in 2019.

Exclusive: Equiti Capital posts 17% rise in 2020 Revenue to $33.1 million. FNG Exclusive… FNG has learned via regulatory filings that Equiti Capital UK Limited, the FCA regulated institutional/B2B arm of UAE based global FX and CFDs brokerage Equiti Group, continued on its growth path in 2020, posting a healthy 17% increase in Revenue. Revenues for 2020 at Equiti Capital came in at $33.1 million, up 17% from $28.3 million the previous year. Net profit totaled $1.4 million, up from a loss of $1.0 million in 2019. In July 2021 Equiti UK received a USD $10 million capital injection from parent Equiti Group Limited. The company said that the increase in share capital will further strengthen Equiti UK’s balance sheet and support several strategic business expansion initiatives underway.

Admiral Markets reports 29% drop in revenues in 1H 2021 to €17.3M. Global Retail FX and CFDs broker Admiral Markets has released its financial report for the first half of 2021, indicating a much slower six month period than either the first or second half of 2020, as volatility eased in the financial markets. Revenues at parent Admirals Group AS in 1H-2021 was down by 29% as compared to the second half of 2020, and by more than 50% as compared to 1H-2020, coming in at €17.3 million. The company posted an EBITDA loss of €0.7 million, and a net loss of €1.7 million. Admirals saw a total of €429 billion of client trades in the first six months of 2021, translating into monthly trading volumes of $85 billion. That’s down only slightly from $87 billion monthly in 1H-2020.

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

Ahmed Badr

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