FX week in review: 2024 begins with executive moves (Markets.com, IG, The Trading Pit…)


Following what was a very eventful and news-busy December to close out 2023 (NAGA Group and BUX sold, ThinkMarkets cancelling its IPO, IG Group hiring a new CEO…), the first holiday shortened week of 2024 was relatively quiet in the FX and CFDs industry, as both traders and industry executives slowly began to return from vacation mode.

Which leads us to a somewhat abbreviated FX week in review to kick off the new year, although a number of brokers began to hire and reposition executives.

Some of the most read and commented-on FX/CFD industry news stories to appear over the past seven days on FNG included:

Publicly traded FX/CFD brokers see shares flat in 2023, but with (very!) mixed results. As we ring in the new year and look back at 2023, a good barometer of what has been going on overall in the global FX and CFDs brokerage sector is taking a look at the publicly traded brokers, and how their shares have performed. As we describe in more detail in FNG’s Top FX and CFD trading industry news stories of 2023, some brokers are clearly doing better than others, and some are struggling, in what remains a very competitive environment.

Exclusive: ATFX Chairman Joe Li on acquisitions, and Retail FX in 2024. FNG Exclusive Interview… 2023 was a very busy year for M&A activity in the FX and CFDs brokerage sector. And with industry consolidation being one of the key themes of the year in our Top FX and CFD trading industry news stories of 2023, we thought it would be a good time to catch up with Joe Li, Chairman of ATFX Group which was very much involved in much of the action. How does ATFX approach M&A activity? What is Joe’s outlook for the industry in 2024? Here is what he had to say, exclusively at FNG.

Strong FX trading sends Saxo Bank volumes up 2% in December 2023 to $369.5B. Copenhagen based Retail FX and CFDs broker Saxo Bank closed out 2023 on a positive note, posting a 2% month-over-month increase in client trading volumes in December 2023, led by strong core FX trading activity. FX trading volumes for December came in at $134.8 billion at Saxo Bank – its highest level since March. That more than offset slight declines in trading in Saxo Bank’s other asset classes, resulting in an overall 2% rise in activity to $369.5 billion for the month.

TradingView, Devexperts establish DXtrade backend integration. TradingView and Devexperts officially announced the facilitation of a direct trading integration process to deliver enhanced services to mutual broker partners. This collaboration allows Devexperts’ clients to integrate their DXtrade trading backend into the TradingView platform. The process ensures a straightforward integration without the need for additional efforts from the broker’s internal teams to work on the API.

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

Dany Mawas

Dany Mawas joins Markets.com as South Africa CEO.

❑ Exclusive: IG Group names Eren Eraslan as Head of Northern Europe.

❑ Exclusive: LSEG Marketing Director Rohan Shams leaves for ICE.

Stuart Neal assumes role of Boku CEO.

❑ Exclusive: The Trading Pit names Darcy Corbett as Head of Digital Marketing.



This article was originally published by a fxnewsgroup.com . Read the Original article here. .