News Nuggets | 7 September: Fortex Adds CBCX Markets; New eToro UK Finance Head

<p>Malaysia's SC Introduces
Fractional Share Trading</p><p>The
Securities Commission Malaysia (SC) has revised its guidelines to allow
stockbroking companies to offer fractional share trading on Bursa <a href="https://www.financemagnates.com/tag/malaysia/" target="_blank" rel="follow">Malaysia</a>.
This initiative aims to make share trading more accessible and affordable for
retail investors, especially younger ones. The revised guidelines outline
the need for stockbroking companies to have adequate systems and policies in
place to ensure fair treatment of customers and to maintain market integrity.</p><p>"In
addition, the introduction of fractional share trading would allow retail
investors to diversify their portfolio whilst creating a more inclusive
capital market for all Malaysians," Dr. Awang Adek Hussin, the Chairman of SC,
commented.</p><p>BME Gains Regulatory
Approval for Crypto Derivatives</p><p><a href="https://www.financemagnates.com/tag/bme/" target="_blank" rel="follow">BME
Clearing</a>, a Spanish central counterparty, has received regulatory approval from
the Comisión Nacional del Mercado de Valores (CNMV) to clear Bitcoin and
Ethereum futures. This approval allows BME Clearing to introduce a new segment
called Digital Asset Derivatives, which aims to enhance digital asset futures'
trading, clearing, and cash settlement. </p><p>"This
milestone reflects our dedication to empowering institutions, clients and
investors with innovative solutions, contributing to the continued growth of
the digital asset ecosystem, and ensuring a secure and efficient trading
experience for all our valued customers," José Manuel Ortiz, the Head
Clearing and Repo Operations at SIX, commented.</p><p>Thurgauer Kantonalbank
Partners with Clearstream</p><p>Switzerland-based
Thurgauer Kantonalbank has chosen <a href="https://www.financemagnates.com/tag/clearstream/" target="_blank" rel="follow">Clearstream </a>to manage its fund distribution
support activities. The bank will use Clearstream's Fund Centre platform to
streamline distribution support and commission management. </p><p>This
partnership will enable Thurgauer Kantonalbank to benefit from reduced internal
costs and optimized payment processes. Clearstream's platform also helps in
compliance with regulatory challenges like MiFID II, offering a scalable
solution for the bank's fund distribution needs.</p><p>ASIC Updates Financial
Resource Requirements for Licensees</p><p>The
Australian Securities and Investments Commission (<a href="https://www.financemagnates.com/tag/asic/" target="_blank" rel="follow">ASIC</a>) has released new
legislative instruments that update the financial resource requirements for
various categories of Australian financial services licensees. </p><p>These instruments were made after consulting the industry and are set to expire in October 2028. They cover financial requirements for responsible entities,
custodial service providers, and investor-directed portfolio service operators.</p><p>Cboe Global Markets
Reports Record Trading Volume for August 2023</p><p><a href="https://www.financemagnates.com/tag/cboe/" target="_blank" rel="follow">Cboe Global
Markets</a> has reported its trading volume statistics for August 2023, revealing
record-breaking numbers. The total volume across Cboe's four options exchanges
exceeded 341.1 million contracts, marking the highest month on record. </p><p>Additionally,
trading in S&amp;P 500 Index (SPX) options set multiple new volume records,
including a new monthly average daily volume (ADV) record of 3.0 million
contracts.</p><p>Fortex Adds CBCX Markets to XAggregator and XForce
</p><p><a href="https://www.financemagnates.com/tag/fortex-technologies/">Fortex</a> has enhanced the offerings of its two trading platforms, XAggregator and XForce, with the addition of CBCX Markets, a multi-asset liquidity provider for forex, precious metals, and CFD commodities and indexes.
</p><p>"This partnership strengthens our commitment to offering unparalleled trading resources to our clients. CBCX Markets's impressive track record and diverse asset offerings align perfectly with our pursuit of excellence," said Aris Christoforou, the Head of Marketing and Regional Operations at Fortex.</p><p>TradingView Adds Bitbns Crypto Data
</p><p><a href="https://www.financemagnates.com/tag/tradingview/">TradingView</a> has broadened its offerings around crypto markets by adding data from the Indian cryptocurrency exchange, Bitbns. The exchange has a user base of 4 million and is a popular crypto trading venue in the country.
</p><p>"Don't forget that Bitbns is one of many, and our platform reliably connects to hundreds of data feeds, with direct access to 1,357,880 instruments from all over the world," TradingView stated.</p><p>FairXchange Onboards New Chief R&amp;D Officer
</p><p><a href="https://www.financemagnates.com/executives/moves/fairxchange-hires-martin-bradford-in-new-coo-role/">FairXchange</a>, a part of United Fintech, has onboarded Will Holt as the company's new Chief Research and Development Officer. He previously worked at Goldman Sachs and Tudor Investment Corporation.
</p><p>"His deep knowledge of market microstructure combined with his impressive track record in the hedge fund industry make him the ideal person to take our research programme forward," said Guy Hopkins, the Founder of FairXchange. "We have a number of very exciting new products in the pipeline, building on the strong technical foundation we have put in place over the past five years, so Will joins us at the perfect time to further increase our momentum."
</p><p>eToro Gets UK Head of Finance
</p><p>Simon Cole has joined the UK offices of <a href="https://www.financemagnates.com/tag/etoro/">eToro</a> as the new Head of Finance. According to his LinkedIn profile, he is based in London and already assumed the role.
</p><p>Cole brings more than two decades of experience to the role. Most recently, he was the Chief Financial Officer at Finveo UK for more than a year. He was also a Finance Director at Phoenix GSB Group. He brings extensive experience from the brokerage as he worked with ADSS and CMC Markets for a number of years.
</p><p>Simply Business Taps Ex-GAIN Capital Executive as US CEO
</p><p>Samantha Roady, a well-known FX industry executive, has become the new US Chief Executive of Simply Business, an online business insurance brokerage. She was previously the Chief Operating at MoneyLion.
</p><p>Earlier, she spent years at GAIN Capital, which was acquired by StoneX. There, she held roles like Chief Marketing Officer and Chief Commercial Officer. She was additionally a part of GAIN Capital's board and was the President of the retail side of the business.</p><p>Malaysian Regulator Warns against 5 Platforms
</p><p>The Securities Commission Malaysia (SC) has expanded its Investor Alert List, adding seven new unauthorized platforms to its index. The names are Cikgu Kripto / Six Digit Club, TXN Bot, 24 Forex Market, ALC Software Solution, and Global Stock Trading.
</p><p>The latest addition came only a couple of days after the Malaysian regulator <a href="https://www.financemagnates.com/forex/news-nuggets-5-september-hantec-markets-executive-warning-of-malaysia-regulator/">flagged the clone </a>of a legitimate firm.
</p><p>"Please take note that this list is not exhaustive and only serves as a guide to investors prior to making any investment decisions," the regulator stated.</p>

This article was written by Finance Magnates Staff at www.financemagnates.com.