ATFX Strengthens Asian Presence with New Hong Kong License
ATFX has secured a Type 3 license from the Hong Kong Securities and Futures Commission (SFC) for its subsidiary, AT Global Financial Services (HK) Limited. This significant regulatory approval enhances ATFX's operational framework and allows the firm to better serve institutional professional investors in Hong Kong and beyond.
Joe Li, Chairman of ATFX, emphasized that obtaining this license underscores the company's commitment to rigorous regulatory compliance and strategic expansion in Asia. "We are thrilled to have been granted the Hong Kong SFC license, which is a significant milestone for ATFX," Li stated. "This license not only strengthens our commitment to the Hong Kong market but also validates our dedication to the highest regulatory standards and our unwavering focus on providing our institutional professional clients with a secure and trusted trading environment. We look forward to further expanding our presence and serving our valued Hong Kong-based clients with the exceptional service they have come to expect from ATFX."
This approval is a key part of ATFX's ambitious growth strategy, aiming to bolster its presence in key financial markets and deliver high-quality service to its clients.
The NGA Group is undergoing significant executive transitions amid its impending acquisition by Capex.com. The latest change is the departure of Sam Chaney, who served as the Chief Commercial Officer (CCO). Chaney, an industry veteran with roles at INFINOX, Hantec Markets, OANDA, and GFT, joined NAGA Group just over a year ago.
Chaney's resignation is part of a strategic pivot for NAGA Group as it navigates the merger process. His time at the company was marked by guiding it through challenging industry dynamics and critical corporate transitions. His departure comes amidst a broader restructuring effort led by Octavian Patrascu, who will become the new CEO of the merged entity post-acquisition.
Announcing his exit on social media, Chaney expressed gratitude for his time at NAGA and praised the company's resilience during the merger with Capex.com. "I've made the bittersweet decision to step down from my role as Chief Commercial Officer at NAGA. This decision marks the beginning of an exciting new chapter in my career. During my time at NAGA, I've had the privilege of working alongside an exceptional team, navigating significant changes, and contributing to the company's growth," he wrote.
Ameer Alhindi has taken on the role of Head of Risk Management at SquaredFinancial, bringing a wealth of experience to the forex and CFD firm's leadership team. With a strong background in risk management, including senior positions at MultiBank Group and StreamsFX, Alhindi is well-equipped to handle complex financial environments.
His appointment highlights SquaredFinancial's dedication to enhancing its risk management capabilities amid changing market conditions. In a recent LinkedIn announcement, Alhindi expressed his excitement about the new role, emphasizing his eagerness to contribute to SquaredFinancial's innovative strategies and dynamic team culture.
This strategic hire aligns with SquaredFinancial's broader goals, including the recent appointment of Francis Lee to strengthen its presence and operations in key Asian markets.
StoneX Group Inc. has announced that its subsidiary, StoneX Financial (Canada) Inc., has been granted Approved Participant status on the Montreal Exchange (TMX), significantly bolstering its financial services network that now spans over 40 derivatives exchanges globally.
StoneX Canada Expands Its Offerings in Montreal
StoneX Canada’s Montreal office, already renowned for its expertise in commodity trading and risk management, will now offer listed fixed income products on the TMX. These services cater to a diverse array of global financial clients, including financial institutions, pension funds, hedge funds, index funds, and family offices.
Sean M. O’Connor, the Founder, CEO, and President of StoneX Group Inc., highlighted the advantages for clients from the US, Canada, and the EU, who can exploit intermarket spread opportunities between the CME and TMX, utilizing StoneX’s robust execution and clearing capabilities in the Canadian markets.
This TMX membership comes on the heels of StoneX’s entry as a member of the Australian Securities Exchange (ASX) in April 2024, further marking its expansion into the APAC region.
“Combined with our recent entrance to the ASX, StoneX’s new status on the Montreal Exchange marks an important step in the company’s global growth strategy,” said Alex Lacroix, Regional Director of StoneX Montreal. “We look forward to leveraging Montreal’s position as a key derivatives hub to help our institutional clients seize new opportunities in the financial markets.”
StoneX Enhances NatWest’s FX Services
In a separate development, StoneX Financial Ltd, another subsidiary of StoneX, has partnered with NatWest Group PLC to enhance NatWest’s international payment capabilities, as reported by Finance Magnates. StoneX Payments will provide NatWest with third-party delivery and FX payment services, enabling cross-border transactions in 10 additional currencies.
The partnership leverages StoneX’s API-driven platform and its network of over 350 correspondent banks to improve foreign exchange rates and payment transparency. NatWest clients will benefit from enhanced payment details and expanded access to previously inaccessible markets.
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