The prediction markets platform Kalshi has recruited Andy Ross, the former head of prime brokerage at Standard Chartered, to lead its institutional business.Ross is set to officially begin the role in late March after a period of gardening leave following his departure from StanChart late last year. The hire comes as Kalshi pushes to move beyond its retail roots and carve out a meaningful position with hedge funds, asset managers, and other large financial institutions.Ross Brings Deep Derivatives PedigreeRoss spent over 25 years in London's financial markets. Before Standard Chartered, where he served as global head of prime brokerage from 2022 until late 2025, he was CEO of CurveGlobal, the interest rate derivatives platform backed by London Stock Exchange Group and a consortium of banks including Goldman Sachs, J.P. Morgan, and Barclays. Prior to that, he spent 16 years at Morgan Stanley, finishing as European head of over-the-counter clearing.Writing on LinkedIn, Ross framed the move as a conviction bet on prediction markets as a superior risk management tool. He pointed to a stark example: "In 2016, Wall Street told clients to short the S&P as a Trump hedge. Trump won. The S&P went up. Ouch. The hedges didn't work." He described Kalshi as having built "a regulated US platform with real liquidity, masses of interesting data, serious ambition, and a rapidly growing institutional client base," adding that he believes prediction markets represent "the single most important disruptive force in financial markets since the development of the eurodollar future."Tradeweb Deal Signals a Broader ShiftThe appointment builds on Kalshi's deal with Tradeweb Markets, announced last week, in which the bond-trading giant made a minority investment in Kalshi and agreed to integrate its prediction market data into Tradeweb's platform, which serves over 3,000 institutional clients globally. Tradeweb CEO Billy Hult said that "prediction markets are increasingly becoming a key part of the trading landscape, and have the potential to become an indicator for institutions to dynamically assess macro risk and allocate capital more effectively."The two companies also plan to build an institutional-focused portal for trading event contracts tied to macroeconomic releases, Federal Reserve decisions, and major policy outcomes - with Tradeweb serving as the front-end interface.Growing Fast, but Not Without FrictionKalshi's institutional ambitions come as the broader prediction markets sector is experiencing explosive growth. The platform processed roughly $23.8 billion in trading volume in 2025, up more than 1,100% year-over-year, according to industry data. Earlier this year, prediction markets hit a record $702 million in daily trading volume, even as state regulators across the US continued challenging the legality of certain event contracts.That regulatory environment remains unsettled. A Massachusetts court ruling earlier this year threatened to block Kalshi's sports contracts, even as the platform set an all-time revenue record of $2.7 million in fees in a single week. Kalshi has also faced lawsuits alongside Robinhood over contracts critics argue resemble sports betting.Institutional Moment "Already Here"Ross isn't the only recent hire signaling Kalshi's direction. Last year, the company brought on a 23-year-old crypto influencer to head its digital asset expansion, reflecting a strategy of building different audience bases in parallel. The Ross appointment, however, targets a very different constituency - one that moves larger sums and demands regulated, auditable infrastructure.Tarek Mansour, Kalshi's co-founder and CEO, has argued that institutional adoption now has the building blocks it needs. As FinanceMagnates.com reported in January, Mansour believes prediction markets could ultimately create a new professional category for traders, not unlike the gig economy jobs created by Uber and Instagram. Meanwhile, industry observers have noted that so-called "pro-tail traders" are already pushing prediction market infrastructure toward execution tools that look increasingly like traditional trading screens, a shift that makes a seasoned derivatives executive like Ross a natural fit for Kalshi's next chapter. This article was written by Damian Chmiel at www.financemagnates.com.

Bitcoin (BTC) price is trading at $68,164 on Thursday, February 26, 2026, extending Wednesday's extraordinary 6% surge, the second-best single session in 10 months, as a confluence of Trump's State of the Union address, a $323 million short squeeze, and $257.7 million in ETF inflows triggered one of the sharpest relief rallies of the year. Despite the fireworks, from a technical perspective very little has changed: Bitcoin remains trapped in the same $60,000-$72,000 consolidation, sitting roughly 50% below its October all-time high of $126,080. How low can Bitcoin go from here? My next bearish target remains at $50,000.Why Bitcoin Surged 6% on Wednesday?Wednesday's 6.04% rally, pushing Bitcoin from $64,074 to $67,947 by midnight UTC, with intraday highs touching $69,192, was the strongest single session since May 2025. Only February 6's extraordinary +12% bounce, which corrected a 14% crash and rebounded from October 2024 lows, was stronger this year.Five distinct catalysts converged to trigger the move.Trump's State of the Union address dominated the narrative, with the president highlighting cooling inflation and record-low mortgage rates, boosting risk appetite across the Nasdaq and S&P 500 simultaneously. The broader crypto market surged 6% to $2.42 trillion in a single session.A $323 million short squeeze was the mechanical engine beneath the rally. As Bitcoin pushed above key levels, leveraged short positions were forcibly liquidated in a feedback loop that amplified the move, with total trading volume hitting $50.58 billion in 24 hours.ETF institutional buying provided structural support rather than just speculation. US spot Bitcoin ETFs posted $257.7 million in inflows on Tuesday, the largest single-day total since early February, snapping weeks of daily redemptions. This "smart money" accumulating near $65,000-$66,000 while the Fear & Greed Index sat in extreme fear represents the kind of divergence that often precedes short-term relief rallies.Viral lawsuit allegations added fuel to the fire. A lawsuit filed against Gain Street on February 24 alleged a recurring "10 AM smash" manipulation pattern that had artificially suppressed prices during North American morning sessions. The exposure of this alleged scheme coincided with that pattern disappearing, contributing to the aggressive buying.Bitcoin fell below its estimated average miner production cost of $66,000 for the first time since late 2022, a zone that "often aligns with late-stage selling and price stabilization" historically, triggering contrarian accumulation. A significant $10.5 billion options expiry on Friday adds another layer of complexity, with potential outcomes hinging on Bitcoin's ability to maintain above $70,000.Bitcoin Technical Analysis: Same Consolidation, Still BearishFrom my technical perspective, Wednesday's 6% surge changes very little about the structural picture.Bitcoin remains trapped in the same consolidation range it has occupied for weeks: lower boundary at $60,000-$62,000, upper boundary extending to $70,000-$72,000. Thursday's $68,164 price sits squarely in the middle of this range, not at support, not at resistance, providing no decisive signal in either direction.The overall picture remains strongly bearish. Bitcoin is stuck at medium-term lows, approximately 50% below the all-time highs it tested back in October. That's not a consolidation before a new rally, that's a 50% retracement that has failed to show meaningful recovery for months.I want to be transparent about how my scenario has evolved. My earliest bearish forecast from November called for a drop to $74,000, that was correct. I then anticipated a bounce from that level back toward the highs, but the expected recovery never materialized as Bitcoin kept falling through $74K, $70K, and ultimately to $62K territory. I adjusted accordingly.My current primary bearish target is $50,000, the August 2024 lows, which represents approximately 30% further downside from current $68,164. In a range scenario, I also reference $50,000-$52,000 as the 2024 lows zone where I would expect more serious accumulation.The only scenario that would change my bearish stance is a sustained return above $76,000, which coincides with April 2025 lows and the 50-day EMA. Until Bitcoin reclaims that level, every rally, including Wednesday's impressive 6% session, is a relief bounce within a downtrend, not a reversal. For the long-term bull case around institutional adoption and Eric Trump's $1 million prediction, we simply need to see that level reclaimed first.The $60,000 Line: Between Relief and CapitulationJames Harris, CEO at Tesseract Group, identifies the critical battleground with precision: "Bitcoin is backtesting the February panic lows in the $60K-$63K range, and that zone matters for both psychological and structural reasons." He notes that "on-chain data suggests there has been meaningful accumulation in this area, with buyers stepping in to absorb selling pressure."The bull scenario, as Harris describes it: "A low-volume retest of these lows followed by a recovery toward the $67K region, which would signal that supply is drying up rather than accelerating." Thursday's bounce to $68,164 technically fits this pattern—but sustaining it is the challenge.The bear scenario is more concerning. Harris warns that "the risk sits just below $60K," where "a decisive break would likely trigger stop-outs, margin calls and liquidation-driven selling into already thin liquidity." He emphasizes that despite leverage declining since earlier in the month, "sentiment remains fragile. In a low-confidence environment like this, it doesn't take much to turn a controlled decline into a cascade, particularly when aggressive dip buyers are scarce."How Low Can Bitcoin Go? Retail Has Left the BuildingPaul Howard, Senior Director at Wincent, offers the most structurally bearish framework, one that goes beyond price levels to diagnose what's fundamentally changed in this cycle."The lack of adherence to traditional technical indicators has been notable," Howard observes. "With prices retracing nearly 50% from the $126K high and key support levels clustered around $60K, the probability of a break below that level now appears higher than a sustained defence of it."His central thesis is sobering: "We are entering a broader period of consolidation, a 'winter chill' phase for digital assets." The reason? "While the underlying ecosystem remains strong and institutional engagement is at an all-time high, the retail capital that historically fuelled prior cycle momentum has rotated into AI and commodities."Howard's ultimate base scenario is more bearish than my own: "A more constructive base may form closer to the $40,000 level rather than from a sustained rebound at $60,000." He adds that "sentiment and positioning could become materially more compelling as we approach the $40,000 region. By that stage, institutional products and capital flows may be better positioned to support a more structured and durable reversal in the market cycle."Bitcoin Price Analysis, FAQHow low can Bitcoin go in 2026?My primary bearish target is $50,000, representing 30% downside from current $68,164. The ultra-bearish range is $50,000-$52,000 (2024 lows zone). James Harris (Tesseract Group) identifies $54,000 as "the next meaningful structural support" if $60,000 breaks, calling that level "the October 2024 correction lows". Paul Howard (Wincent) suggests "a more constructive base may form closer to $40,000 rather than from a sustained rebound at $60,000," citing retail capital rotation into AI and commodities as a structural shift.Is $50,000 Bitcoin realistic?It aligns with multiple analytical frameworks. Paul Howard notes "the probability of a break below $60,000 now appears higher than a sustained defense of it". James Harris warns "a decisive break below $60K would likely trigger stop-outs, margin calls and liquidation-driven selling." Bitcoin ETF total AUM has fallen 30.5% since start of 2026 ($117B to $81.3B), while Fear & Greed Index sits in "extreme fear". Should I buy Bitcoin now?Bitcoin at $68,164 sits in the middle of a $60,000-$72,000 consolidation range, 46% below its $126,080 all-time high. Wednesday's $257.7 million ETF inflow shows institutional accumulation at lower prices, but total ETF AUM is down 30.5% since January. This article was written by Damian Chmiel at www.financemagnates.com.

Deriv appears to be seeking a banking licence from the regulator in St Vincent and the Grenadines. According to the regulatory registry, the contracts for differences (CFD) broker established a separate entity on the island in June 2023, and its banking licence is currently “pending approval.”Deriv’s Big Plans in SVGNotably, Deriv already has another registered unit in SVG through which it can onboard CFD traders.The SVG regulator does not issue any explicit brokerage licence; rather, it allows firms to offer leveraged trading only with incorporation. However, the island’s regulator asked locally operated forex and CFD brokers to verify their overseas registrations. This made an external brokerage licence mandatory for any broker operating with SVG as its base.FinanceMagnates.com reached out to Deriv to learn about its plans regarding the banking licence, but did not receive any response as of press time.A Regulated ExpansionDeriv, which has its roots in 1999 when it operated under a different brand, is a heavily licensed broker with regulatory authorisations in Malta, Malaysia’s Labuan, Vanuatu, the British Virgin Islands, Mauritius, and the Cayman Islands.It also obtained a full brokerage (Cat 1) licence from the regulator in Dubai and started onboarding traders under that licence last year.The broker also opened its second Cyprus office in late 2024. Based in Nicosia, the new site functions as a technology development centre, where teams focus on artificial intelligence, data analytics, and software development.Last year, Deriv’s founder, Jean-Yves Sireau, stepped down from the role of co-CEO, putting Rakshit Choudhary in the top role. The leadership change appears to have been well planned, as Choudhary was elevated to the co-CEO role in early 2024.Sireau, however, remains Deriv's majority shareholder.Like many other major brokers, Deriv is broadening its offerings. In 2023, it launched its institutional arm, Deriv Prime, which provides liquidity to other industry participants. In 2022, the firm introduced its white label service under the Deriv X brand. This article was written by Arnab Shome at www.financemagnates.com.

CME Group's Globex electronic trading platform went dark for gold, copper and natural gas futures on Wednesday afternoon, the second significant breakdown on the exchange's commodity markets within the last few months, and this time it happened on one of the most sensitive days in the trading calendar.CME's Global Command Center flagged the problem at 12:11 p.m. Central Time. Four minutes later, the exchange confirmed a full trading halt across metals and natural gas futures and options. Natural gas markets came back online at 12:50 p.m., about 50 minutes after they were switched off, with options following 35 minutes into the halt. Metals took considerably longer, with gold and copper contracts on Globex not reopening until around 1:45 p.m.Bad Timing on Contract Expiry DayThe disruption landed at a particularly sensitive moment. Wednesday was the expiry date for the March natural gas futures contract - the day when traders traditionally roll positions over into the next month. Despite the confusion, gas prices still managed to push higher, ultimately settling up 1.9% at $2.969 per million British thermal units. Whether the halt itself contributed to that move remains unclear.CME said all standard day orders and good-till-date orders placed for Wednesday were wiped out entirely. Good-till-canceled orders that had already been acknowledged were left in place. The cancellations added operational headaches on top of an already volatile session.Trading on the competing Intercontinental Exchange was unaffected throughout.Silver Tests $91 Amid the ChaosSilver added its own layer of intrigue to Wednesday's session. Prices climbed to their highest levels in three weeks during the day, briefly testing just above $91 per ounce intraday, a level that carries significant technical weight as the upper boundary of February's consolidation range. By the close, however, the metal pulled back to finish the day below $90, failing to confirm the breakout. On Thursday, silver drifted slightly lower again, continuing to trade beneath that key resistance zone.Whether the Globex outage played any role in those price swings is hard to say with certainty. What is clear is that the halt disrupted normal price discovery in metals markets at precisely the moment silver was making its most technically significant move of the month. As detailed analysis on FinanceMagnates.com shows, the $90-$91 zone is the gate that determines whether silver's recovery from February's brutal selloff gains real momentum. A daily close above it would open the path toward $100 and beyond, while failure to hold it keeps the metal range-bound.Confidence Erosion Sets InThe reaction from market participants was pointed. Nicky Shiels, head of metals strategy at MKS PAMP SA, commented for Bloomberg the glitch "erases confidence over liquidity and price discovery at a time when the market has been contending with a market dysfunctioning given the wild price swings."CME's stock felt the impact too, falling about 4% on the day. The exchange is currently riding record trading volumes: its natural gas complex hit an all-time single-day record of more than 2.5 million contracts on January 20, up 15% from the previous peak set in November 2018. Metals volumes have also surged this year as gold and silver prices rocketed to new highs, driven in part by tariff-related safe-haven buying.That volume boom has made the reliability question harder to ignore. The exchange earlier this year overhauled how it calculates margins for precious metals, switching from fixed-dollar amounts to a percentage-based system as prices surged to records. Despite the margin change, metals volumes at CME jumped 18%, with micro silver futures hitting a new daily record of 715,111 contracts.A Familiar ProblemThis was not a one-off. In late January, the New York Mercantile Exchange - owned by CME - imposed an unusual two-minute trading halt during the market close for natural gas, skewing the settlement price and leaving traders dealing with unusually high volatility caused by a wave of cold weather thoroughly confused. And just this month, CME reported delays in publishing metals settlement prices.The problems go back further still. In November, CME was forced to suspend futures and options trading entirely for several hours after a cooling failure at a CyrusOne data center knocked out systems across foreign exchange, bonds, equities and commodities. That outage left brokers flying blind and forced firms onto internal pricing models. This article was written by Damian Chmiel at www.financemagnates.com.

US regulator has renewed warnings over improper trading in prediction markets after two enforcement cases exposed how individuals misused privileged information while trading on KalshiEX. The Commodity Futures Trading Commission’s Enforcement Division issued an official advisory reminding traders and designated contract markets (DCMs) that insider conduct and fraud remain subject to full federal oversight.Political Candidate Traded on Own CampaignOne of the highlighted cases involved a political candidate who traded contracts tied to the outcome of his own election campaign. The trades reportedly surfaced last year through social media videos showing the candidate placing bets on KalshiEX.According to the watchdog, Kalshi’s compliance team contacted the individual the same day, and he admitted knowing the trading violated exchange rules. The platform imposed a $2,246.36 sanction, including disgorgement of profits and a five-year suspension from access.A second case also from last year involved an individual who traded prediction contracts linked to a YouTube channel while employed as an editor for that same channel. Investigators determined the trader likely used advance knowledge of upcoming videos for personal gain.Related: Coinbase Asks Courts to Bar States From Regulating Prediction MarketsKalshi imposed a $20,397.58 fine and suspended the trader for two years, citing violations tied to the misuse of material nonpublic information. The regulator has described the activity as similar to insider trading, falling under the same legal prohibitions on misappropriation of confidential data obtained through a position of trust.CFTC Reiterates Oversight PowersWhile Kalshi handled these cases internally, the CFTC underlined that it retains full authority to prosecute illegal trading on any registered exchange. The advisory specifically referenced statutes covering insider trading, prearranged trades, wash sales, disruptive trading, and broader fraud and manipulation offenses.The commission also reminded exchanges of their duty to maintain robust surveillance and enforcement programs, as required by the Commodity Exchange Act’s core principles.Read more: Prediction Markets Boom Draws CZ-Owned Trust Wallet, Joining MetaMask and Polymarket IntegrationCFTC Chair Michael Selig recently escalated a jurisdictional clash over prediction markets, directing the agency to intervene in ongoing court disputes and asserting that the US derivatives regulator, rather than state authorities, oversees event contracts.I have some big news to announce… pic.twitter.com/3OBNTaOnIL— Mike Selig (@ChairmanSelig) February 17, 2026In a video posted on X, he said the CFTC has filed an amicus brief to defend what he described as its “exclusive jurisdiction” over prediction markets, which he likened to derivatives markets.Selig warned that state entities challenging the CFTC’s authority over event contracts “will see” the agency “in court,” describing their actions as an “onslaught of state-led litigation.” He said the wave of enforcement activity has targeted platforms including Coinbase, Crypto.com, Kalshi and Polymarket. This article was written by Jared Kirui at www.financemagnates.com.

Match-Trade Technologies has integrated TeamForce Technologies’ customer relationship management (CRM) system into its Match-Trader platform, expanding its tools for brokers and proprietary trading firms.New Integration Expands Broker ToolsThe update allows brokers to manage the entire client workflow from one system, covering registration, affiliate tracking, and communication. TeamForce’s system is designed to simplify operations and improve coordination within trading firms.Match-Trade said efficiency remains a key focus as it continues to widen its ecosystem through technology collaborations. The new partnership adds another layer to its platform, supporting firms that want to connect trading and client management in a single environment.TeamForce Technologies develops software for brokers and trading firms, with a modular ecosystem built around its CRM, client zone, mobile and web trading platforms, and communication tools. Its CRM connects with third-party providers such as liquidity providers, trading platforms, payment solutions, and e-KYC services, and includes functions for risk management and AI-driven automation.Read more: Prop Firms Get Full MetaTrader 5 Support as Match-Trader Expands Platform FeaturesSimilarly, Match-Trader expanded its technology stack through a partnership with TradeCore to deliver a combined trading and CRM solution for forex brokers. The integration connects Match-Trader’s trading infrastructure with TradeCore’s client management and onboarding tools, enabling brokers to oversee trader activity, handle transactions, and manage client data from a single environment.Integrated Tools for Broker OperationsIt also strengthened its cooperation with Centroid Solutions by connecting the Match-Trader platform with Centroid’s risk management technology. The partnership added the Centroid Risk module to an earlier integration with Centroid Bridge, extending analytics and risk tools to brokers and proprietary trading firms using Match-Trader.Match-Trader has grown strongly in recent years. The company reported in August 2025 that the number of server clients using the Match-Trader platform had risen by 290 percent since January 2024. The platform was initially launched in 2015 for institutional clients and was extended to retail brokers around 2019–2020. The platform was also quick to move into the proprietary trading segment by licensing the Match-Trader platform to prop firms. Over time, a range of brands, from established proprietary trading firms to smaller startups, have adopted the platform as part of their technology stack. Amid this growth, there has also been a recent leadership change. Meanwhile, Alexis Droussiotis announced last week that he is leaving his role as Head of the Match-Trader Platform at Match-Trade Technologies, a position he held for more than two and a half years. This article was written by Jared Kirui at www.financemagnates.com.

IG Group Holdings is set to enter the FTSE 100 benchmark, according to indicative changes published by FTSE Russell ahead of the March 2026 quarterly review.FTSE Russell said the preliminary changes are based on market data as of 20 February 2026. The formal review will use closing prices on 3 March. Confirmed changes are scheduled for announcement after market close on 4 March.If confirmed, IG Group would move from the FTSE 250 into the FTSE 100 as part of the quarterly rebalance. Funds and ETFs tracking the blue-chip index would adjust portfolios to include the stock. Vehicles benchmarked to the FTSE 250 would remove it. Such reviews typically lead to trading activity around the effective date as passive investors realign holdings.FTSE 100 ChangesOn the indicative list, IG Group Holdings and Tritax Big Box REIT are set for promotion to the FTSE 100. easyJet and Rightmove are listed for removal from the index. Stocks entering the FTSE 100 often see short-term liquidity gains, while deletions can face temporary selling pressure.FTSE 250 RebalancingThe review shows CVS Group, easyJet, Rightmove, and The Schiehallion Fund as potential additions to the FTSE 250. IG Group Holdings, NCC Group, Pinewood Technologies Group, and Tritax Big Box REIT are listed for removal from the mid-cap index.FTSE Russell conducts quarterly reviews of UK indexes in March, June, September, and December. Constituents are determined primarily by market capitalisation, with automatic promotion and demotion rules designed to reduce subjectivity. Operational Changes Across Multiple Business UnitsAlongside these developments in its index standing, IG Group has been restructuring its operations in other regions. The broker has closed its South Africa office, following its exit from commercial operations in the country nine months earlier. The firm offered local customers the option to transfer accounts to other offshore entities. The South Africa office functioned primarily as a marketing hub, and its closure is part of broader operational adjustments. IG also relinquished its local ODP licence, now required for offering contracts for difference. The broker cited operational efficiency as the reason for the closure. Interestingly, IG has exited several other operations and investments in the recent past, including Spectrum Markets, Brightpool, Raydius, BadTrader, and Small Exchange.The firm continues to operate in other markets, including the UK, Germany, Australia, Bermuda, and the United States through its subsidiary tastyfx, while exploring opportunities in crypto trading. This article was written by Tareq Sikder at www.financemagnates.com.

iFOREX Financial Trading Holdings Ltd began trading on the London Stock Exchange’s Main Market on Wednesday, with its shares up 6% at 207 pence. The British Virgin Islands-based broker is listed under the ticker IFRX.iFOREX Starts Trading on Main MarketThe listing completes a process that iFOREX first launched in May last year before it paused the transaction to address compliance issues raised by authorities in the British Virgin Islands.The company has now secured admission for its entire issued share capital, almost 22.2 million ordinary shares, which are now freely tradable in London. With the current share price, the broker's market value in the tens of millions of pounds on the group as it joins the Main Market.Founded in 1996, iFOREX operates a proprietary online and mobile trading platform that offers contracts for difference on more than 870 instruments, including currencies, commodities, indices, stocks, cryptocurrencies and ETFs. The company supports the platform with its own technology suite, which covers customer relationship management, risk monitoring, payments and marketing tools.Resuming London Listing After Compliance HaltFor the year ended 31 December 2024, iFOREX reported trading income of 50.1 million US dollars, adjusted EBITDA of 9.7 million dollars and adjusted profit before tax of 7.6 million dollars. Since 2014, it has distributed more than 262 million dollars to shareholders.Chief Executive Officer Itai Sadeh said the London listing marks an important step for the group. He noted that admission to the Main Market and the demand for the initial public offering reflect the company’s foundation and its growth potential.iFOREX first moved towards a London listing in May 2025 but had to halt the process for several months after regulators in the British Virgin Islands opened a compliance inspection into the company’s affairs, according to prior reporting by Finance Magnates. The review focused on the firm’s adherence to local regulatory requirements and needed to be resolved before the IPO could proceed. As a result, the flotation remained on hold for about seven months while iFOREX addressed the issues raised and worked with the authorities to close out the inspection. This article was written by Jared Kirui at www.financemagnates.com.

MarketAxess has appointed William Quan as its new Chief Technology Officer. He will oversee the trading platform’s global technology operations and lead efforts to expand the use of AI, data analytics, and platform modernization across the platform’s electronic trading business.Focus on Technology and AI IntegrationIn his new role, Quan will report to Dean Berry, Chief Operating Officer of MarketAxess, and serve on the company’s Executive Committee. His responsibilities include developing systems and embedding artificial intelligence into the firm’s products and workflows.“William brings deep technical expertise and a strong execution mindset that will help us accelerate platform modernization and more deeply embed AI and advanced analytics across our products,” Berry said.Read more: Zarvista Capital Markets Appoints Mohammed El Alaoui Essosse as CEOQuan has more than 20 years of experience leading technology and digital transformation across financial and platform businesses. He previously served as CTO at Fleete Group, a Macquarie Asset Management portfolio company, where he oversaw the creation of an AI-enabled SaaS platform. Earlier in his career, he held leadership roles at Amazon Web Services, J.P. Morgan, and Deutsche Bank, focusing on electronic trading and digital platform innovation.Institutional Demand and Rising VolumesEarly this year, Tradeweb Markets and MarketAxess saw record trading activity in January as institutional trading picked up across rates and credit. Tradeweb handled total trading volume of 65.5 trillion dollars for the month, with average daily volume of 3.1 trillion dollars, up 26.2% from a year earlier.On the other hand, MarketAxess reported record average daily volume of 18.6 billion dollars in total credit, a 28% increase from January 2025, while its rates business grew 19%, pushing total platform average daily volume to 47.7 billion dollars, up 23% year-over-year.Credit markets drove much of the growth for both platforms. MarketAxess’ emerging markets credit activity was especially strong, with average daily volume rising 50% to a record 5.5 billion dollars, almost 30% above its previous monthly peak. This article was written by Jared Kirui at www.financemagnates.com.

The Financial Conduct Authority has chosen four companies to trial stablecoin services under proposed regulations. The initiative is part of the FCA’s Regulatory Sandbox, which allows firms to test products in real-world conditions with safeguards.The sandbox follows the FCA’s broader work on crypto regulation. Last month, it opened a consultation on final rules for cryptoasset firms, with responses accepted until 12 March 2026.FCA Begins Testing Stablecoin Issuance ProgramThe FCA received 20 applications and selected Monee Financial Technologies, ReStabilise, Revolut, and VVTX. Testing will focus on stablecoin issuance. The proposals cover different use cases, including payments, wholesale settlement, and crypto trading.Matthew Long, director of payments and digital assets at the FCA, said the regulator is “supporting UK stablecoin issuers to ensure they can be trusted for payments, settlement and trading,” adding that the work will “benefit consumers and financial transactions” and contribute to the FCA’s strategy and the Government’s National Payments Vision.Stablecoin Testing Part of Regulatory ReviewFirms in the sandbox will receive feedback from FCA specialists. The findings will inform the UK’s stablecoin rules, expected to be finalised later in 2026. Testing is scheduled to begin in the first quarter of 2026.The FCA described the sandbox as part of a broader effort to enable innovation in UK financial services. It complements initiatives such as the Digital Securities Sandbox.Sandbox Firms Must Obtain Full AuthorisationAll firms in the sandbox will need to be authorised under the new crypto regime once it launches in October 2027. The application gateway opens in September 2026.The FCA has previously consulted on multiple aspects of crypto regulation, including stablecoin issuance, cryptoasset custody, prudential rules, conduct of business, and market abuse. The consultations are now largely complete, and policy statements are expected this summer. This article was written by Tareq Sikder at www.financemagnates.com.

The European Securities and Markets Authority has published its Final Report on draft Regulatory Technical Standards for clearing thresholds under EMIR 3. The report follows amendments introduced by EMIR 3 and sets out a revised framework for counterparties active in over-the-counter derivatives markets.Financial Firms Calculate Cleared, Uncleared PositionsThe main change is a new calculation methodology focusing on uncleared OTC derivatives. ESMA said the approach is intended to “better recognise the benefits of central clearing while maintaining coverage of systemic risk.”Under the revised rules, non-financial counterparties must calculate positions based only on uncleared OTC derivatives at entity level, excluding hedging transactions. Financial counterparties must calculate two sets of positions. One covers uncleared OTC derivatives at group level, excluding funds. The second aggregates cleared and uncleared OTC derivatives and acts as a backstop.Uncleared Thresholds Increased Across Key AssetsESMA updated its data analysis covering August 2024 to July 2025 to calibrate the new thresholds. The regulator said this was intended to ensure the revised levels capture a similar population of counterparties as under the previous regime.Aggregate thresholds for financial counterparties remain unchanged and apply only to asset classes subject to the clearing obligation. The threshold for interest rate derivatives is €3 billion, while the threshold for credit derivatives remains at €1 billion.For uncleared thresholds, which apply to both financial and non-financial counterparties, some values were increased compared with ESMA’s April 2025 Consultation Paper. Interest rate derivatives are set at €2.2 billion, up from €1.8 billion. Credit derivatives are €0.8 billion, up from €0.7 billion. Equity derivatives are €0.7 billion. Foreign exchange derivatives are €3 billion. Commodity and emission allowance derivatives are €4 billion, up from €3 billion. ESMA said the adjustments reflect market conditions, inflation and other relevant factors.Commodity Class Renamed for Broader ScopeESMA decided not to introduce separate thresholds for sub-classes such as energy or agriculture, nor for ESG-linked commodities or crypto-derivatives. The fifth asset class was renamed “commodity and emission allowance derivatives” to reflect a broader scope.During the consultation, some respondents asked whether virtual power purchase agreements qualify as hedging. ESMA said changes to the hedging exemption would require amendments to the Level 1 Regulation and “cannot be addressed in these RTS.”Counterparties Apply Calculations at Annual DateThe report also introduces a flexible review mechanism for clearing thresholds. Reviews will not be automatic. ESMA will monitor indicators at least once a year, including price volatility, the proportion of cleared versus uncleared transactions, the share of entities that clear, inflation, global financial conditions and geopolitical uncertainty.Counterparties will be able to apply the new calculation methodology at their usual annual calculation date after the RTS enters into force, typically in June. If a counterparty’s status does not change under the new framework, it will not need to re-notify ESMA or national authorities.Credit Institutions Dominate Notional Above ThresholdsFollowing input from the European Systemic Risk Board, ESMA analysed non-bank financial intermediaries. The data show credit institutions account for 86% of notional traded above the thresholds. ESMA said it is premature to introduce specific thresholds for non-bank financial intermediaries but will continue monitoring developments.Under EMIR, entities exceeding one or more clearing thresholds are subject to additional requirements, including the clearing obligation. This article was written by Tareq Sikder at www.financemagnates.com.

A new analysis by FMintel, drawing on data from more than 50 retail brokers worldwide, finds that retail CFD trading now accounts for roughly 14% of daily global FX turnover, a figure that was barely 2.7% just five years ago. The research, published on the newly launched FMIntel data portal, introduces a new framework for measuring retail's growing weight in a market long defined by institutional players.A Market Quietly TransformedThe backdrop is the Bank for International Settlements' latest Triennial Survey, published in October 2025, which put daily over-the-counter FX turnover at $9.6 trillion in April 2025, up 28% from $7.5 trillion in 2022. That growth reflected the usual institutional drivers: dollar volatility, widening interest-rate differentials, and a pickup in emerging-market currencies.Retail CFD volumes grew at a dramatically different pace. Over the same five-year window, the segment expanded roughly 442%, by more than fifteen times the institutional rate. Finance Magnates Intelligence has branded the new tracking framework the Retail Intensity Ratio, or RIR, defined as retail daily CFD turnover expressed as a percentage of BIS-reported global FX volume. In Q4 2020, that ratio sat at 2.7%. By Q4 2025, it had reached 14.1%.The growth wasn't steady. From 2020 through late 2023, the RIR climbed gradually from 2.7% to around 4.5%. Then volume took off, sharply. The acceleration coincided with an unprecedented surge in gold and metals trading that reshaped the retail brokerage product mix almost entirely. By Q4 2025, metals accounted for 74% of all retail CFD activity, up from roughly 42% five years earlier. Currency pairs, once the core of the industry, now represent just 14% of total volume.From Rounding Error to Market ForceThe numbers translate into something concrete: retail CFD traders are now collectively moving more volume each day than many mid-sized institutional participants. Five brokers crossed the $1 trillion monthly volume threshold in Q4 2025 alone, a milestone that only three firms had reached in the prior quarter.The most striking element of the FMIntel analysis is what the numbers point to ahead. At the growth trajectory observed over the past five years, retail CFD trading could approach the structural weight that retail traders hold in US equity markets within the next few years. You can access the full data here.The implications reach beyond retail brokers. Prime brokers, liquidity providers, and exchange operators are already responding. CME Group launched a Dubai hub last October, citing a 16% jump in regional derivatives activity, a move that coincided with a broader migration of CFD brokers toward the UAE. Regulators are also paying closer attention: ESMA finalized new derivative reporting rules in Q4 2025, while the UK's Financial Conduct Authority rolled out enhanced consumer protection tools in response to a sharp rise in investment fraud cases.The full analysis, including the complete RIR time series, forward projections through 2028, and a regional breakdown of where retail volume is growing fastest, is available on the FMIntel portal. Registration is free. This article was written by Damian Chmiel at www.financemagnates.com.

ETHDenver 2026 felt different. Smaller booths, fewer flashy activations, less free merch, and somehow, better. The crypto tourists have left the building. What remained was a conference stripped back to its essentials: builders, infrastructure teams, and serious capital allocators who weren't there to chase hype. For those of us on the ground, that was quietly refreshing.ETHDenver founder John Paller had noted before the event that bear markets tend to concentrate the serious crowd, and that held true. The new venue at the National Western Center gave the event more room to breathe and better flow between spaces.Side events were fewer but more curated; there were 250 events compared to 700 last year: the InnovateDenver event hosted by The Tie stood out as one of the highest-quality gatherings of the week, a smaller room, a senior audience, and the kind of conversations that actually move things forward. The main floor had fewer sponsor booths than in previous years, but the people walking through them were asking real questions.University students were a noticeable presence, many attending for the hackathon. Several approached us with questions about RWAs, tokenized commodities, and whether we'd consider doing workshops or virtual sessions with their programs.Real World Assets was the dominant theme across panels, booths, and side events alike. The focus has shifted from explaining the concept to discussing implementation: tokenized yield products, compliant structures, institutional vaults. There is real appetite in the US market, and the conversations felt more advanced than at previous editions. Uranium.io drew consistent interest throughout the week, from market makers looking for new assets, investors asking about the structure and custody setup, and students curious about the broader commodity tokenization thesis. Questions about our next steps and vision for the commodity market came up repeatedly. The Etherlink booth held its own well, with the split layout between BD and activation keeping different types of conversations in the right lanes.For us, the Tezos Breakfast Club emerged as one of the strongest moves of the conference. Held the morning before the main event kicked off, it set the tone early, brought together key partners and potential leads, and created a warm, high-trust environment before the noise of the conference floor took over. Feedback was strong across the board. It should be a fixture going forward.AI and crypto drew some of the biggest crowds of the event, with the Proof of AI gathering standing out in particular. The DeFi Mullet thesis, using blockchain rails beneath more familiar financial products, came up repeatedly as a practical framework for how on-chain finance actually reaches mainstream users.On the more sobering side, there was an honest thread running through several of the bigger conversations: that the industry has built impressive infrastructure over the past decade and has so far struggled to turn it into products people want to use. ETHDenver founder Paller said as much directly, and Williamson echoed it. That kind of candor at a conference usually dominated by optimism was notable.The quantum panel featuring Hunter Beast, co-author of BIP 360, added a longer-term concern to the mix: Bitcoin's cryptography is not ready for a world where sufficiently powerful quantum computers exist, and estimates of when that becomes a real problem keep getting revised downward. The Ethereum Foundation has already formed a post-quantum security team. It's not an immediate crisis, but it's moving from theoretical to practical faster than most expected.ETHDenver 2026 confirmed a market at an inflection point: fewer tourists, more conviction, and a clear gravitational pull toward real-world utility. The RWA space, and tokenized commodities in particular, are finding serious traction with US-based investors and institutions. The appetite is there. The timing is right, and the Tezos ecosystem is ready to support it.Written based on firsthand observations from Romain Westerlynck, Partnership Adoption Manager at Nomadic Labs, present at ETHDenver 2026. This article was written by FM Contributors at www.financemagnates.com.

Futures prop firm Tradeify has added WealthCharts as an official platform option, reflecting a broader shift towards competition based on technology and risk infrastructure rather than account size or profit splits. Earlier growth in the prop trading industry was driven by aggressive marketing and appealing challenge structures. Over the past decade, the industry expanded to an estimated $10 billion market. More recently, attention has shifted toward platform stability, analytics, and embedded risk controls. An industry analyst summarised the transition by noting that while early-stage competition centred on challenge conditions and payout ratios, the next phase is increasingly defined by platform capabilities and risk management architecture. Technology as a Competitive Factor Firms across the sector now focus on building integrated trading environments. For example, Kraken-owned NinjaTrader has introduced its own prop trading offerings. It has also enhanced risk controls and platform integrations.Platform providers like Match-Trader offer bundled solutions that combine trading interfaces with CRM tools for prop operations.Tradeify’s integration of WealthCharts expands its technology offering. In addition to platforms like Tradovate and NinjaTrader, WealthCharts offers a single interface that combines charting, risk monitoring, and performance analytics.The platform automatically journals trades and captures real-time performance data. Risk alerts notify traders as they approach rule limits. Built-in trade-copier tools let users replicate strategies across accounts. These features, usually handled through separate third-party apps, are now consolidated into the trading workflow. “This partnership raises the bar for prop traders, combining our platform with one of the industry’s top firms to deliver a smoother, more powerful trading experience” said Eric Barden, Chief Commercial Office at WealthCharts. This development demonstrates an industry shift: firms now compete on platform integration, risk control, and operational reliability. As more sophisticated traders enter the space, platform quality is key to a firm's value proposition. This article was written by Tanya Chepkova at www.financemagnates.com.

Finalto, a leading global provider of liquidity and financial technology solutions, has announced the opening of its new MENA office in Dubai in February 2026. This strategic expansion follows the Finalto Group’s acquisition of a Category 5 CMA license, underscoring the company’s long-term commitment to serving clients across the region. The move reflects the rapidly growing demand for professional and institutional trading services throughout the MENA market.Finalto’s marked the occasion with an opening ceremony at its new Barsha Heights office, attended by the heads of the company’s London, Singapore and Australia offices.Conor Canny, CEO of Finalto MENA, explains that Finalto is uniquely positioned to support regional clients through a combination of deep liquidity, bespoke pricing, and market leading proprietary risk and trading technology.“With an established global presence across the UK, Europe, Australia, Singapore, and now Dubai, the firm delivers around-the-clock customer support and seamless access to global markets. This footprint enables Finalto to offer tailored solutions that align with regional trading practices, regulatory frameworks, and the evolving objectives of MENA based institutions,” Canny said.A New Horizon for FinaltoThe MENA region presents significant opportunities, driven by increasing participation from professional and institutional investors, strong demand for precious metals trading, and the rapid adoption of sophisticated, technology driven trading strategies-driven trading strategies.Commenting on the expansion, Finalto UK-EU CEO Paul Groves said the move marks an important milestone for the business:“Finalto’s extensive experience operating across multiple regulated jurisdictions positions us strongly to support clients in this dynamic region. Our focus is on delivering trusted, transparent and scalable solutions that are tailored to local market needs, underpinned by the same high standards of risk management, liquidity provision and technology that define our global offering.”Contact Finalto MENA: sales@finalto.comMedia enquiries: Lara Hussaini (lara.hussaini@finalto.com)About FinaltoFinalto is an innovative prime brokerage that provides bespoke liquidity and fintech solutions. Our award-winning technology and expertise enable us to deliver effective, flexible service to a wide range of institutional clients globally, personalised to suit their needs. We deliver best-in-class pricing, execution and prime broker solutions across multiple assets, including CFDs on Equities, Indices, Commodities, Cryptos and rolling spot FX, Precious and Base Metals, and bespoke products such as NDFs.Service available only to Professional clients and varies per jurisdiction – Trading involves significant risk of loss. This article was written by FM Contributors at www.financemagnates.com.

Silver rose to $90.73 per ounce Wednesday, up 4.16% on the day, its highest print since February 4. The intraday high tagged just below $91, a level the market has not seen in three weeks. At the time of writing, the metal is holding near $90.70, consolidating just above the breakout zone.Silver price surge may be the most technically significant of the year so far. In this article, I examine why silver is surging today, analyze the chart in detail based on my over a decade of experience as an analyst and trader, and present the newest silver price predictions from major institutions and market analysts.Follow me on X for more silver market analysis: @ChmielDkSilver Price Today: Breaking Out of February's RangeTo understand the significance of this move, context matters. Silver plunged from its all-time high of $121.67 on January 29 to lows near $70 in early February - one of the most violent precious metals selloffs in recent history, a crash I covered in detail at the time in Why Silver Price Crashed 33%: Fed Chair, Reuters Panic and Algo Selloff. The entire month of February has since been a slow, grinding recovery - until today. Year-over-year, silver remains up approximately 184%.According to my technical analysis, today's session is delivering the most important signal of the month. As shown on my chart, silver has spent all of February oscillating inside a well-defined consolidation channel with clear boundaries:Upper resistance (now broken): $90 - the ceiling of February's range, aligned with structural price memoryChannel midpoint / key support: $80 - aligning precisely with the December 29 highs and the 50 EMA, which has been moving horizontally throughout the monthChannel floor: $70 - the early February lows, the deepest point of the post-ATH correctionToday's candle is testing a breakout above that upper boundary. A daily or weekly close above $90 is the confirmation signal I am watching. If silver achieves that close, the technical path reopens toward:$100 - the psychological level and first major target$118 - the January 26 session highs, which represent the ultimate resistance before the ATH zone. Note: while silver traded above $118 on January 29, the session closed below that level - meaning $118 continues to act as significant resistance, not just a waypoint$121.67 - the all-time highThe bearish scenario requires watching carefully too. A failure to hold $90 and a return into the consolidation channel would not be catastrophic on its own - but a breakdown below the $70 floor would open a much more serious move toward $55-$59 per ounce, where the November 13 structural peaks and the 200 EMA currently sit. That is the level that would truly challenge the bull market thesis.Why Is Silver Going Up: Tariff War Resumes With Full ForceThe catalyst for Wednesday's move is the same force that has been driving precious metals all month - but with fresh intensity. After the Supreme Court struck down Trump's IEEPA tariff framework last Thursday, markets briefly exhaled. That relief lasted less than 24 hours.Trump responded by imposing 15% global tariffs under Section 122, then threatened additional duties against any country that "plays games" with current trade arrangements. The shifting policy stance has made it impossible for institutional traders to price certainty into any risk-asset position - and when uncertainty spikes, silver and gold are the instinctive beneficiaries."Silver has witnessed dramatic moves in recent days, reflecting the sensitivity of this dual-natured metal - both investment and industrial - to political and monetary shocks at the same time," said Rania Gule, Senior Market Analyst at XS.com.[#highlighted-links#] As she noted about the recent pattern: "What happened does not represent a trend reversal as much as it reflects a rapid repricing of a sudden political shock, followed by the natural behavior of markets that tend to test extremes before stabilizing new positions."The second macro driver is US-Iran tensions. Diplomatic talks are scheduled to resume Thursday, with Trump reiterating his preference for a negotiated resolution while warning of "serious consequences" if no nuclear deal is secured. That combination - open negotiation with a military ultimatum attached - is the precise kind of headline that keeps safe-haven demand elevated without fully releasing it."The sharp rally was not surprising," Gule added. "Trade escalation typically revives investor appetite for hedging assets, particularly in a global environment marked by slowing growth and rising geopolitical polarization."Beyond the immediate catalysts, the structural picture remains firmly in silver's corner:Five consecutive annual supply deficits, with the Silver Institute projecting no resolution in 2026China's new silver export licensing system, implemented January 1, 2026, restricting physical flows from the world's largest silver-producing nationCOMEX registered silver inventories below 100 million ounces for the first time since records began - a level crossed last weekIndustrial demand from solar manufacturing, AI infrastructure buildout, EV production, and defense electronics showing no signs of slowingSilver's Contradictions: The Industrial Hedge DilemmaSilver's dual nature - simultaneously a safe-haven asset and an industrial input - creates a tension that distinguishes it from gold. Gule of XS.com put it plainly: "Silver differs from gold in that it is more sensitive to the economic cycle, given its close link to industrial demand. A trade shock that heightens concerns about supply chains may support prices through safe-haven flows in the short term, while simultaneously raising questions about global industrial activity in the medium term."This contradiction partly explains the swift profit-taking that followed Monday's initial 6% surge to $89, before the market found footing and built higher again. It also explains why silver's intraday volatility continues to dwarf gold's - and why the technical structure I outlined above matters so much. Silver needs to close sessions above key levels, not just tag them intraday.As JPMorgan noted in its February 2026 outlook, silver's 130%+ rise through 2025 was "fueled by industrial demand and uncertainty over tariff regulations" - precisely the same combination driving today's move.Silver Price Prediction 2026: Where Do Analysts See the Price Going?The range of credible forecasts for silver in 2026 is extraordinarily wide - reflecting both genuine analytical disagreement and the unprecedented nature of recent price action."I'm very bullish the metals. My silver target is $180 and gold $6,800 - and I think we could see those targets reached in the second quarter," said macro strategist David Hunter. Rashad Hajiyev goes further, arguing that if the Gold/Silver Ratio continues its compression toward the 2011 low of 30, "$250 silver becomes a mathematical expectation with gold at $7,500." The ratio currently sits near 57-59 - its lowest level since 2011.For broader institutional context on where gold fits into this picture, see my analysis: Gold Price Prediction 2026: How High Can Gold Really Go?Silver's Road Back to $100: Key Milestones to WatchThe recovery from February's brutal lows has been steady but not smooth. After the January 29-30 crash - which I documented in Why Gold Is Falling With Silver Today: The Strongest XAU and XAG Selloff in 13 Years - silver found support near $70 and began rebuilding. The February 13 session produced another sharp 10% decline, covered in Why Is Silver Falling With Gold? Silver Price Crashes 3rd Hardest in 6 Years, before the metal stabilized and began its current recovery. Monday's session - detailed in Why Silver Is Surging With Gold Price and Why Analyst Predicts $400 in 2026 - was the first sign this breakout attempt was building momentum.Today's close is the one that matters most. As shown on my chart, the $90 level is not just resistance - it is the gate. Everything technically interesting happens above it.FAQWhy is silver going up today?Silver is surging Wednesday due to renewed safe-haven demand driven by Trump's 15% global tariff escalation and ongoing US-Iran nuclear tensions, with talks resuming Thursday. The move also reflects a technical breakout above the $90 resistance that has capped February's entire consolidation range, attracting momentum buyers.How high can silver go in 2026?Based on my technical analysis, a sustained close above $90 targets $100, then $118 resistance, and ultimately the $121.67 all-time high. Institutional forecasts range from HSBC's $68 average - already well exceeded - to David Hunter's $180 and Rashad Hajiyev's $250-$400 in a high-conviction bull scenario where the Gold/Silver Ratio compresses to 20-30.What is the silver price prediction for 2026?JPMorgan sees silver averaging $60-$90, underpinned by structural supply deficits and industrial demand. Bank of America's $65 target has already been surpassed. More aggressive analysts target $150-$400, with the structural case built on five consecutive deficit years, China export controls, and COMEX inventory depletion.What could stop silver's rally?A failure to hold $90 on a daily close and a return into the $70-$90 consolidation channel would be the first warning sign. A breakdown below $70 - the February lows - would open a move toward $55-$59, where the November structural peaks and the 200 EMA converge. Macro resolution of the tariff situation or a US-Iran deal could temporarily reduce safe-haven demand and trigger profit-taking. This article was written by Damian Chmiel at www.financemagnates.com.

Risk management has overtaken every other operational concern among global brokerages heading into 2026, according to a new industry report from technology provider Tools for Brokers (TFB). The timing is notable. Retail trading demand hit record highs in early 2026, surging 25% above the previous peak set during the 2021 pandemic surge, with FMIntel data suggesting monthly CFD volumes could exceed $37 trillion this year. That kind of volume puts every operational weakness under a microscope.Some 34% of respondents named risk management as their primary challenge for the year ahead, placing it comfortably above the second-ranked concern, scaling operations, cited by 26% of firms. Technology stack complexity followed at 15%, with compliance and regulation accounting for 11%.Risk Is No Longer a Back-Office ProblemFor years, risk oversight sat somewhere between a compliance checkbox and a back-office function at many retail brokerages. That appears to be changing fast. Faster execution environments, higher market volatility, and growing client protection requirements are pushing firms to build risk controls directly into their core infrastructure - not bolt them on after the fact.Alexey Kutsenko, CEO at TFB, said the findings track closely with what the company has observed across its own client base."Over the past decade, the brokerage landscape has become materially more complex," he said. "Risk management is no longer a back-office function, but a... priority tied to scalability and long-term resilience. Firms moving ahead are investing in tighter execution, real-time client visibility, AI integration, and greater automation across risk workflows."The report argues that the most resilient brokerages now run risk management as a continuous system - think real-time alerting, predefined thresholds, and automated responses to abnormal trading behavior - rather than relying on periodic manual reviews. The distinction matters. During volatile market conditions, the firms that break first are typically those whose systems fail under pressure, not those with bad products.Scaling Up Without Blowing UpGrowth is creating its own set of problems. One in four brokers surveyed said scaling operations was their biggest challenge, a figure that reflects how rapidly rising transaction volumes are stressing infrastructure built for a smaller, simpler business. The report notes that firms successfully navigating this pressure typically share a few common threads: flexible infrastructure, advanced liquidity aggregation, and automated risk controls. The ability to absorb volume spikes without compromising pricing quality or execution speed is increasingly what separates firms that can expand into new markets from those that get stuck firefighting. The scaling challenge is especially sharp for brokers pushing into regions such as Southeast Asia, Africa, and Latin America, where infrastructure limitations and regulatory fragmentation add layers of complexity that more established markets don't face to the same degree.AI and Liquidity Bridges Lead Tech SpendingWhen brokerages were asked where they planned to invest in technology for 2026, artificial intelligence came out on top at 28%, followed by liquidity bridges at 20%. AI-driven risk management tools, automation, social trading, mobile applications, and big data analytics made up the rest of the top priorities.On the operational side, AI-driven tools are also increasingly being used to support account management, help sales teams prioritize high-risk accounts, and improve the consistency of internal decision-making.Liquidity bridges ranked second in spending intentions. As TFB detailed last November, the push toward consolidated platforms that combine execution, analytics, and risk management in a single environment has been gathering momentum, with major tech providers racing to build what amounts to an all-in-one operating system for brokers. Earlier this month, Alchemy Markets integrated TFB's Trade Processor into its trading infrastructure to automate liquidity management, risk controls, and regulatory reporting simultaneously .Compliance Hardens Into an Operational Function"Regulatory readiness ensures both client trust and operational sustainability,” TFB's COO Vladimir Viuchejskiy, added. “Advanced tech combined with skilled teams mitigates risk and positions firms as market leaders."Regulatory compliance ranked fourth among broker concerns, but the tone in the report around this topic suggests it deserves more attention than the raw percentage implies. Brokerages are under rising pressure from regulators, banking partners, and liquidity providers to demonstrate structured reporting, clear audit trails, and documented risk controls, regardless of whether local regulation formally requires it.The automated reporting angle is gaining traction as a practical fix: last July, TFB partnered with TRAction to let brokers auto-report directly through their trading platform, covering major regulatory frameworks including EMIR, MiFIR, and ASIC rules. Kutsenko noted at the time that "reporting and compliance remain among the most important challenges our clients face.” This article was written by Damian Chmiel at www.financemagnates.com.

TP ICAP is changing how its institutional crypto exchange handles trades, moving to a model that puts the London-based broker in the middle of every transaction, a structure already well-established in its traditional markets operations.The company said this week that Fusion Digital Assets will switch to a so-called matched principal model in March, under which TP ICAP stands as counterparty to both sides of each trade. The change eliminates the need for clients to pre-fund their positions: institutions will be able to trade first and settle afterward, freeing up capital that would otherwise sit idle waiting for a deal to clear.Bringing a Traditional Markets Playbook to CryptoThe matched principal setup is hardly new for TP ICAP. The firm already runs the model across its foreign exchange, rates, and credit markets businesses, processing more than $200 trillion in notional volume through it in 2025. What's different now is that Fusion Digital Assets - launched for spot crypto trading back in May 2023 after the firm secured a UK license the year before - is getting the same treatment.Under the new structure, each trade will be backed by TP ICAP's investment-grade credit rating. Settlement will move off-exchange, with the firm acting as counterparty on the clearing side. Clients will also be free to use whichever digital asset custodian they prefer - a deliberate design choice to avoid locking institutions into a single custody relationship.Simon Forster, managing director and global co-head of digital assets at TP ICAP, said the shift addresses a persistent structural problem in institutional crypto trading. "This proven model is familiar to institutional clients, delivered by a counterparty they trust. It fills a critical gap in the crypto landscape by improving efficiency, reducing risk, and creating a flexible, institution-ready framework for trading."Volume Growth Adds Pressure to ExpandThe timing reflects real momentum on the platform. Fusion Digital Assets crossed $1 billion in monthly notional volume in September last year, with activity concentrated in spot Bitcoin and Ether. That figure gave TP ICAP a concrete data point to justify expanding what the platform offers.Once the matched principal model is in place, the company plans to roll out stablecoins, additional major cryptoassets, new fiat currency pairs, and tokenized real-world assets. Operating hours will also extend from the current 23 hours a day, five days a week, to full 24/5 coverage, with weekend trading possible as demand grows.The platform will also introduce multilateral netting, a mechanism common in traditional markets that allows multiple offsetting positions to settle as a single net obligation rather than as individual trades, cutting both cost and settlement risk.Expansion Accelerates Across TP ICAP's Business LinesThe Fusion overhaul is part of a broader push by TP ICAP across its operations. In January, the firm acquired Vantage Capital Markets to deepen its Asia-Pacific footprint, with Vantage's offices in Hong Kong, Tokyo, and Dubai expected to close into TP ICAP's network in Q2 this year. Earlier this month, the group also brought electronic trading to structured products, building a centralized order book for a corner of the market that had historically relied on phone-based negotiation.The digital assets arm has been a bright spot for the group. TP ICAP's most recent revenue report showed £1.78 billion at the top line, though weakness in the firm's energy and commodities unit has weighed on overall results. Crypto infrastructure, by contrast, has continued to attract institutional attention as more banks and asset managers look for exchange-grade venues that offer the compliance and counterparty standards they're used to in traditional markets.Forster framed the model change as more than just an operational upgrade. "This marks a transformational step in Fusion Digital Asset's development. It reflects our commitment to delivering trusted, efficient market infrastructure for the digital asset ecosystem." This article was written by Damian Chmiel at www.financemagnates.com.

Russia is preparing a legal framework that would bring digital assets into a structure similar to its traditional financial market. Under the draft proposal, licensed brokers would serve as the mandatory access point for retail crypto trading. This comes as the European Union considers banning crypto activity with Russia. The EU plans focus on cross-border limits, while Russia aims to regulate domestic crypto activity. The Central Bank and the Ministry of Finance drafted the proposal. Officials expect the new structure to be operational by July 2027. At its core, the plan requires retail investors to access digital assets through licensed intermediaries. Brokers would oversee onboarding, investor checks, and compliance, while licensed crypto exchanges and digital custodians would operate within a structure modeled on the traditional securities market. All trading would take place inside this regulated environment and remain subject to existing anti-money laundering and reporting requirements. A Broader Role for Brokers If adopted, the framework expands brokers’ roles in digital assets. They would run trades, oversee investor tests, give risk disclosures, and classify clients. The proposal builds a domestic investment channel and cuts reliance on offshore platforms. Some Russian-origin brands still work internationally. For example, the Alpari brand, now part of Exinity Group, has a platform offering “up or down” binary-style contracts. These contracts would not be covered by the domestic regime. Russia would not allow direct retail access to global crypto platforms. Instead, trading must go through licensed intermediaries. Brokers become the main compliance and distribution layer for retail crypto. This article was written by Tanya Chepkova at www.financemagnates.com.

It’s Payback Time for Asian Stockholders…For years, ASEAN has been framed almost exclusively as a growth story. Favourable demographics, rising consumption and the relocation of manufacturing have positioned Southeast Asia as one of the most dynamic emerging regions in the world.But as the region’s economy matures, a new narrative is taking shape. ASEAN is no longer just about growth; it is increasingly becoming a compelling destination for dividend seekers.That is the view of Miko Huang, Senior Manager, Equity Index Product Management APAC at London Stock Exchange Group, who notes that the FTSE ASEAN Index, which captures the large- and mid-cap companies listed in the five ASEAN markets (Singapore, Malaysia, Indonesia, Thailand and the Philippines), has delivered a 10-year average dividend yield of 3.57%.This exceeds the yields of many major global benchmarks, including the FTSE Asia Pacific ex Japan Australia and New Zealand Index (2.49%), the FTSE USA Index (1.68%), the FTSE Developed Europe Index (3.18%) and the FTSE Emerging Index (2.9%).Over the last five years, the FTSE ASEAN Index has recorded steady growth in cash flow per share, and the region’s average dividend payout ratio during this period also stands out relative to global peers. The forward 12-month dividend yield remains attractive compared with other major markets worldwide, highlighting the region’s appeal for income-oriented investors.As of the end of last year, more than 60% of the large- and mid-cap companies in the FTSE ASEAN Index offered dividend yields above 3%, reflecting a management culture that focuses on shareholder returns.However, Huang cautions that not all dividend strategies are created equal. Traditional dividend approaches often focus on the highest-yielding stocks, which can lead to excessive portfolio concentration and above-average exposure to smaller companies or businesses with weakening fundamentals.“Many dividend indices simply rank stocks by yield and pick the companies at the top of the ranking,” she says. “The problem with that approach is that very high yields are often a warning sign. They can come from smaller or distressed companies where the share price has already fallen sharply, creating what we call a ‘yield trap’. While the yield may appear attractive, it is often unsustainable, as the share price fall is an early indicator of a future dividend cut.”…While Their UK Counterparts Are Frustrated by BuybacksAccording to Computershare’s Q4 2025 UK Dividend Monitor, UK dividends fell 0.9% to £87.5 billion on a headline basis in 2025, while one-off special dividends of £2.9 billion were half the 10-year average.Share buybacks reached a provisional £63.6 billion in 2025, more than double the 2019 level, while dividends have fallen by 13% over the same period. Share buybacks have slowed dividend growth by 3% per annum since 2019 by diverting cash to repurchases rather than distributions.Read more: Plus500 Starts $100 Million Repurchase With $800 Million CashMark Cleland, CEO of Governance Services at Computershare, observes that for 2026 there are relatively few major growth drivers to push dividends higher. Declines in mining payouts are likely to slow further or stop altogether, banks are likely to continue to deliver modest growth, and energy payouts are likely to be flat.Across the wider market, Computershare projects steady, low single-digit growth. Meanwhile, the dampening effect of share buybacks and the strong pound is set to continue (if sterling maintains its current rate), though the exchange rate effect will weaken as the year progresses.“For Q1 2026, Next has already declared a very large payment of £3.60 per share, reflecting both very strong trading and associated cash generation, as well as some land disposals,” says Cleland. “This will ensure the Q1 2026 special dividend total easily exceeds Q1 2025, though we assume for now that the full year will be roughly flat, given the unpredictable nature of this form of payout.”No Time to Be Squeamish About Defence StocksThe phrase “buy when there is blood in the streets, even if the blood is your own” is a contrarian investment maxim frequently attributed to Baron Rothschild, who allegedly made a fortune buying during the panic following the Battle of Waterloo.It means buying assets when market fear is at its highest, others are panic-selling, and prices are falling, even if your own investments are losing value.Sadly, there has been blood in the streets in too many parts of the world recently. In particular, the conflict in Ukraine (and criticism of Europe’s commitment to its armed forces from members of the Trump administration) has focused attention on Europe’s ability to defend its borders.Until relatively recently, investors were reluctant to buy defence stocks in large volumes, partly due to ethical concerns. But inflows rose significantly following Russia’s invasion of its south-west neighbour in 2022 and, after a brief lull, rose again when the US President made it clear that he expected NATO countries to make a more substantial contribution to the defence of the continent.Hargreaves Lansdown’s December 2025 Sustainable Investor Survey recorded a sharp fall in the number of investors who excluded weapons from their allocations. Many European investors have re-evaluated how investing in defence stocks aligns with ESG commitments, leading defence sector-focused funds to reach an all-time high.As reported recently, data from eToro show that defence names listed in Europe moved into focus as a structural allocation rather than a tactical trade for many retail investors last year, with four European defence groups appearing in the platform’s global ‘top risers’ table.The European Commission’s ReArm Europe Plan/Readiness 2030, presented in March 2025, proposes leveraging over €800 billion in defence spending through national fiscal flexibility, a new €150 billion loan instrument (SAFE) for joint procurement, potential redirection of cohesion funds, and expanded European Investment Bank support.Thematic European ETFs have also benefited, with $6.3 billion in positive net flows into global defence last year, accounting for 40% of all new money that moved into this sector in 2025. European defence was the next highest contributor to new flows, representing an additional 30%. This article was written by Paul Golden at www.financemagnates.com.