GPW Reports Rising Investor Activity
The Warsaw Stock Exchange GPW has released
its investor activity report for June, disclosing a 52% increase in the
total equities turnover to PLN 27 billion. The group’s electronic order book turnover increased 40% year-over-year to PLN 24.9 billion in the period.
Additionally, the
report disclosed that the turnover for the ETFs, Electricity, and natural gas
increased by 40%, 2%, and 30%, respectively. Similarly, the derivatives
turnover volume jumped by 15% year-over-year to 1,814,500 contracts.
As of the end of
June, GPW Group‘s market capitalization of 372 domestic companies listed on the main market was PLN 663 billion (EUR 149.2 billion), the exchange said.
Google to Use
Public Information to Train AI
Google has updated
its privacy policy to allow for the use of publicly available information to
train its Artificial Intelligence (AI) products and services. The update was published
on the company’s website under the ‘publicly accessible sources’ section.
“We may
collect publicly available information or from other public sources to help
train Google’s AI models and build products and features like Google Translate,
Bard, and Cloud AI capabilities,” the company wrote.
Shadi Salloum Appointed as
XS.com’s MENA Director
Global
fintech provider XS.com has announced the appointment of industry veteran Shadi
Salloum as the new Regional Director for the Middle East and North Africa
(MENA).
Salloum’s
main role will involve leading the growing team and overseeing the smooth
operation of the firm’s MENA operations.
“I am
filled with anticipation as I prepare to embark on a new venture with XS.com, a
dynamic and forward-thinking brokerage,” Shadi Salloum, the Regional Director
(MENA) at XS.com, commented on his new venture,
“As the new
Regional Director for the MENA region, I am enthusiastic about contributing my
knowledge and experience to propel the company’s achievements in the field of
online trading.”
Tradoverse Adopts
TraderEvolution’s Solution
Trading
software provider TraderEvolution Global has revealed that it has provided its
trading solution to Tradoverse, a proprietary trading company. The platform
offers traders various options without any commissions and additional costs.
“At Tradoverse, we are proud to leverage TE
state-of-the-art technology to redefine the trading experience. Our platform
combines real-time market data, direct market access, and advanced trading
front end and back-ends functionalities powered by Trader Evolution,” Diego
Fernandez, the Chief Executive Officer of Tradoverse, commented.
Fernandez
further emphasized that the platform offers a user-friendly interface and
robust security measures. According to the CEO, Tradoverse is committed to
pushing the boundaries of retail trading conditions, ensuring that users have
the tools they need to succeed in the dynamic world of finance.
New Zealand’s FMA Issues
Warnings
The
Financial Markets Authority (FMA) New Zealand has issued a warning about Stake
Funds, an investment company that has been found to operate without proper
registration. The company is misleading investors by using the authentic
details of a legitimate firm, Mercado Limited. Stake Funds has also been
accused of unjustly withholding investor funds and demanding additional money
before allowing withdrawals.
Capital
Gold Investment is another company under the spotlight for false claims about
being a registered New Zealand company. The firm has been discovered to use a company’s NZ Business Number (NZBN) removed from the New Zealand Companies
Register. In addition, it is suspected of exhibiting fake banking and insurance
certificates, withholding client funds, and operating without financial
services registration as required by law.
Penalties for Select AFSL
Entities
Australia’s
Federal Court has imposed a combined penalty of $13.6 million on Select AFSL,
BlueInc Services, and Insurance Marketing Services for engaging in unethical
conduct and contravening financial services laws.
According to ASIC, the court
also charged Russell Howden, the companies’ sole director, with a $100,000 fine
and a five-year ban from corporate management due to directorial duty breaches.
SEC Tightens Crypto
Trading Regulations
The
Securities and Exchange Commission (SEC) has decided to enforce stricter rules
on cryptocurrency trading, aiming to bolster investor protection.
From 31
July, digital asset operators are required to include risk disclosures in their
ads and are barred from offering services or supporting deposit-taking and
lending.
Winklevoss’s $1.5B Offer
in Genesis Debt Talks
Cameron
Winklevoss, the Co-Founder of Gemini crypto exchange, has proposed a ‘final
offer’ of $1.5 billion in the debt restructuring discussions over the bankrupt
digital asset firm Genesis.
Earn Update: An Open Letter to @BarrySilbert pic.twitter.com/ErsYpcEjQD
— Cameron Winklevoss (@cameron) July 4, 2023
Winklevoss
has criticized Digital Currency Group (DCG), the owner of Genesis, for its
failure to devise a satisfactory plan to repay Genesis creditors and its missed
payment of $630 million.
Egyptian Brokerage Firms
Eye Gulf Markets
Egyptian
brokerage firms are setting their sights on Arab Gulf markets following the
latter’s trading boom and steady increase in offerings.
Gulf Cooperation Council markets accounted for
21% of global subscriptions in 2022, compared to only 2% in 2021. There has
also been a significant increase in the market value in the best-performing
market in the region, the Abu Dhabi Securities Exchange.
Eurowag Acquires More
Stake in JITpay
W.A.G
payment solutions, better known as Eurowag, has chosen to exercise its call
option to acquire an additional 18.01% stake in JITpay, a Germany-based payment
service provider.
Eurowag
began its strategic partnership with JITpay in September 2022, when it
initially acquired a 9.99% stake.
This article was written by Finance Magnates Staff at www.financemagnates.com.
