GBP/CHF

Fed, Bank of Japan, Bank of Canada Hold Rates; Markets Expect Same from SNB, ECB, BoE Today; Stocks Fall as Brent Crude Surges on Middle East War; Iran Puts Qatari LNG Offline, Trump Threatens Iran's Pars Gas Field; USD/JPY Makes New 1.5-Year High

Two Major Central Bank Meetings, Fed & BoC; Gasoline ETF UGA Rockets to Record High; WTI Crude Oil Falling, <$92.50; Gold < $5,000; Stock Markets Rising

The Australian dollar was fairly unchanged on Thursday as energy prices remained elevated amid the Iran war. The AUD/USD pair was trading at 0.7045, down from the year-to-date high of 0.7182 after the Federal Reserve and Reserve Bank of Australia (RBA) interest rate decisions.

Crypto traders breathed a sigh of relief over the past week, as the sight of rising prices eased concerns about a devastating, long-drawn-out crypto winter, though the threat of further downside remains.

The USD/SGD is around the 1.27675 as of this writing, this as financial institutions are starting to show increasingly more tranquil trading tendencies the past day and a half.

Gold prices stabilised around 4,830 USD per ounce on Thursday following a sixth consecutive decline, marking the longest losing streak since late 2024. The market remains under pressure from the Federal Reserve’s hawkish stance, which currently outweighs geopolitical risks. The Fed held rates unchanged and signalled only one cut this year. Jerome Powell emphasised that […]

Key takeaways Medium-term downtrend confirmed: Gold (XAU/USD) broke below the $4,960 key support (50-day MA) with a sharp sell-off, invalidating the prior rally as a “dead cat bounce” and signalling the start of a multi-week bearish phase. Hawkish Fed driving downside pressure: A less dovish Federal Reserve, reduced rate cut expectations, and rising 10-year US […]

The S&P 500 (SPX) continues to correct the cycle that began from the April 7, 2025 low. The internal subdivision of this correction is unfolding as a double three Elliott Wave structure, which reflects a complex corrective pattern rather than a simple decline. From the January 28, 2026 peak, wave (W) concluded at 6636.04, as […]

Yesterday, Brent crude prices moved sharply higher, with the XBR/USD chart showing breakouts above local resistance levels. Today, the price has climbed above the $110 mark, bringing it close to the multi-year high recorded on 9 March. The bullish sentiment in the oil market is being driven by ongoing military tensions in the Middle East. […]

SNB holds rates but strengthens intervention stance, aiming to cap CHF gains as energy-driven inflation rises only temporarily. The central bank kept its policy rate unchanged at 0.00%, as widely expected, but sharpened its language on foreign exchange intervention amid heightened global uncertainty. The key shift lies in the SNB’s explicit acknowledgment that its “willingness […]

The Swiss National Bank is leaving the SNB policy rate unchanged at 0%. Banks’ sight deposits held at the SNB will be remunerated at the SNB policy rate up to a certain threshold. The discount for sight deposits above this threshold still stands at 0.25 percentage points. Given the conflict in the Middle East, the […]

Daily Pivots: (S1) 211.66; (P) 212.19; (R1) 212.49; More… GBP/JPY’s outlook is unchanged that rebound from 207.20 could have completed with three waves up to 213.28. Below 210.78 will target 209.15 support first. Firm break there will solidify this case and target 207.20 next. On the upside, however, above 213.28 will target a retest on […]

Daily Pivots: (S1) 182.78; (P) 183.30; (R1) 183.65; More… EUR/JPY weakens sharply today but stays in established range. Intraday bias remains neutral at this point. On the downside, below 181.85 will target 180.78 support. Decisive break there will indicate that fall from 186.86 is already correcting whole up rise from 154.77, and solidify the near […]

Daily Pivots: (S1) 0.8627; (P) 0.8640; (R1) 0.8652; More… EUR/GBP is still bounded in sideway trading and intraday bias stays neutral. Further decline is expected as long as 55 D EMA (now at 0.8686) holds. Firm break of 0.8611 will resume the whole fall from 0.8863 to 100% projection of 0.8863 to 0.8611 from 0.8788 […]

Daily Pivots: (S1) 1.6230; (P) 1.6275; (R1) 1.6351; More… EUR/AUD is still bounded in established range above 1.6125 and intraday bias stays neutral. Further decline is expected with 1.6594 resistance intact. Firm break of 1.6125 will resume the fall from 1.8554 to 1.5913 fibonacci level next. Nevertheless, break of 1.6594 will indicate short term bottoming, […]

Daily Pivots: (S1) 0.9055; (P) 0.9080; (R1) 0.9108; More…. EUR/CHF breached 0.9092 support turned resistance but failed to sustain above it. Intraday bias stays neutral first and further decline is still mildly in favor. On the downside, firm break of 0.8979 will resume larger down trend. However, sustained break of 0.9092 will bring stronger rebound […]

Markets Yesterday saw a new escalation in attacks on oil infrastructure in the Middle East with a sharp rise in energy prices that dominated global markets. Iran attacked Qatar’s Ras Laffan gas infrastructure after Israël attacked Iran’s main South Pars gas field. Natural gas and oil prices (Brent $110+ levels) already jumped sharply higher before […]

Daily Pivots: (S1) 1.3699; (P) 1.3719; (R1) 1.3752; More… No change in USD/CAD’s outlook and intraday bias remains neutral. On the upside, firm break of 1.3751 resistance will suggest that stronger rebound is underway, and target 1.3927 resistance first. Meanwhile, break of 1.3524 support will bring resumption of whole down trend from 1.4791. In the […]

Daily Pivots: (S1) 0.6986; (P) 0.7055; (R1) 0.7093; More... Sideway trading continues in AUD/USD and intraday bias remains neutral at this point. With 0.6943 support intact, further rally is still expected. On the upside, firm break of 100% projection of 0.5913 to 0.6706 from 0.6420 at 0.7213 could prompt upside acceleration to 161.8% projection at […]

Daily Pivots: (S1) 1.1488; (P) 1.1518; (R1) 1.1570; More…. Intraday bias in EUR/USD stays neutral and more consolidations could be seen. Further decline is expected as long as 1.1666 resistance holds. Below 1.1408 will resume the fall from 1.2081 to 38.2% retracement of 1.0176 to 1.2081 at 1.1353. Firm break there will target 61.8% projection […]

Daily Pivots: (S1) 1.3215; (P) 1.3295; (R1) 1.3339; More… Intraday bias in GBP/USD stays neutral and more consolidations could be seen above 1.326. But risk will stay on the downside as long as 1.3482 resistance holds. Below 1.3216 will resume the fall from 1.3867 to 1.3008 structural support. Firm break there will carry larger bearish […]

Daily Pivots: (S1) 159.00; (P) 159.46; (R1) 160.36; More… Intraday bias ins back on the upside with breach of 159.74 temporary top. Current rise from 152.25 should target a retest on 161.94 high. Firm break there will confirm larger up trend resumption and target 61.8% projection of 139.87 to 159.44 from 152.25 at 164.34. Nevertheless, […]

UK labor market data showed further signs of cooling in February, with wage growth easing and employment momentum weakening. Payrolled employees rose modestly by 20k on the month to 30.3 million, but were still down -49k compared to a year earlier, highlighting a gradual loss of underlying strength. Wage pressures moderated, with median monthly pay […]

The relief in Oil markets on news that Iraq would resume exports via Turkey didn’t last long. News that another important Iranian official has been killed and Iranian energy facilities attacked turned the market upside down, as Iran threatened the Gulf countries with fierce retaliation, highlighting that their energy facilities have now become ‘a legitimate […]

In focus today Today, we expect the ECB to leave the deposit rate unchanged at 2.00% in line with consensus and market pricing. We expect Lagarde to communicate a full commitment to price stability and readiness to act to upward price pressures but at the same time acknowledge heightened uncertainty and that it is too […]

March 18 Reuters Cryptocurrency exchange Kraken has put its multibilliondollar initial public offering plan on hold, CoinDesk reported on Wednesday, citing two people with knowledge of the matter The company is still weighing an IPO, but is unlikely to move ahead until market conditions improve, according to the report. Reuters could not verify the report, while a Kraken spokesperson declined further comment. The company confidentially filed for a U.S. IPO in November 2025 and was set to go public in the first quarter of 2026. Initially focused on crypto, the company has expanded across asset classes in recent months, including equities, with the rollout of commissionfree trading. Reporting by Pritam Biswas in Bengaluru; Editing by Anil D'Silva and Jonathan Ananda

March 18 Reuters Macy's said it was taking a prudent approach to its outlook, as it forecast a fall in annual revenue and profit, citing macroeconomic and geopolitical risks that could affect consumer spending. Shares of the company were up about 7 in early trading after the department store said it expected a comparatively smaller impact from tariffs in the second half of the year and beat quarterly profit estimates, helped by strong growth at its highmargin Bloomingdale's stores. Guidance assumes the first half of the year will have a larger tariff impact than the second half, with the first quarter having the most meaningful impact, the company said in a statement. The outlook largely reflects rates before recent tariff changes, as prior tariffs are incorporated into existing inventory costs, CFO Tom Edwards said on a post earnings call, signaling a margin hit in the first half of the year. Washington has moved to a uniform 10 tariff following a Supreme Court ruling that struck down broader U.S. levies, but the company, which relies on manufacturing in China, is heavily exposed to import duties. Macy's expects an adjusted profit of 1.90 to 2.10 per share, compared with 2.15 last year and estimates of 2.17, while seeing a 20 to 30 basis point tariff hit to gross margin. It also forecast annual net sales between 21.4 billion and 21.7 billion, down from 21.8 billion in 2025. Analysts were expecting 21.42 billion. CEO Tony Spring, in an interview, told...

WASHINGTON, March 18 Reuters New orders for U.S. factory goods edged up in January as weakness in transportation equipment partially offset gains elsewhere, government data showed on Wednesday. Factory orders rose 0.1 after an upwardly revised 0.4 drop in December, the Commerce Department's Census Bureau said. The gain was in line with economists' expectations. Orders were previously reported to have declined 0.7 in December. Orders increased 3.5 yearonyear in January. The Census Bureau is still catching up on data releases following delays caused by last year's government shutdown. Manufacturing, which accounts for 10.1 of the economy, has been hammered by President Donald Trump's sweeping tariffs, and factories face more cost pressures from the U.S.Israeli war with Iran, which has sent oil prices surging by more than 40. Trump has defended the tariffs, which have been struck down by the U.S. Supreme Court, as necessary to protect domestic manufacturing, though about 100,000 factory jobs have been lost since January 2025. Manufacturing could get a lift from increased oil and gas well drilling because of the higher prices, but economists said the investment boost would probably be insufficient to offset the drag from more expensive energy goods and could also take a while to filter through to the economy. Factory goods orders were in January supported by increases in machinery and primary metals as well as demand for computers and electronic products, likely...

FRANKFURT, March 18 Reuters Financial markets are underpricing geopolitical risks, increasing the potential for sudden selloffs, European Central Bank supervisor Claudia Buch said on Wednesday, as she warned against easing bank regulations. The U.S. has been loosening bank rules for the past year, putting pressure on regulators elsewhere as their lenders could face an uneven playing field if they did not follow suit. These guardrails need to be maintained as geopolitical tensions rise, Buch said in the ECB's annual supervision report. Fragmentation or any weakening of standards could undermine banks ability to withstand adverse developments. Bank shares have sold off since the start of the U.S. and Israeli war on Iran but market moves have been orderly, much like over the past year when tariffs and wars raised uncertainty. Lenders are properly capitalised and have all the necessary buffers, but risks remain high, Buch argued. This uncertainty is not adequately reflected in marketbased indicators of financial stress, which could lead to an abrupt repricing of risk, she said. She argued that shocks could materialise unexpectedly and spread quickly given geopolitical tensions, stretched valuations in some market segments, growing interconnections with nonbank financial firms and the risk of sudden shifts in market sentiment. The ECB has made strengthening lenders' resilience to geopolitical risks a key priority for this year and will stress test the largest...

Producer price index increases 0.7 in February Services account for more than half of the rise in PPI Food, energy prices rebound sharply WASHINGTON, March 18 Reuters U.S. producer prices increased by the most in seven months in February, driven by higher costs for services and a range of goods, and could accelerate further as the war in the Middle East boosts oil prices and the tariff passthrough persists. The strongerthanexpected Producer Price Index report from the Labor Department on Wednesday also suggested that a key inflation measure tracked by the Federal Reserve for monetary policy posted a third straight month of solid gains in February. The U.S.Israeli war with Iran, which started at the end of February, has sent oil prices surging more than 40. Economists expected the war's inflationary impact to show up in the March consumer and producer price reports next month. The U.S. central bank is expected to hold interest rates steady at the end of a twoday policy meeting later on Wednesday. Fed officials will submit new economic projections, which economists expect to show upgrades to inflation estimates. Financial markets are expecting only one rate cut this year. The upshot is there is nothing in the price data that suggests the Fed would be in a position to cut again soon even if oil prices suddenly dropped back, said Thomas Ryan, North America economist at Capital Economics. The Producer Price Index for final demand surged 0.7 last month, the most...

March 18 Reuters General Mills reaffirmed its annual sales and profit forecast on Wednesday after slashing it last month, as pressure on consumer spending and stiff competition muted demand for the Cheerios maker's pantry staples and snacks. Broad inflationary pressure and added uncertainty from the Iran war is also squeezing consumer spending, dragging sales of packaged food makers, who are already facing the brunt of change in dietary preferences toward healthier foods, accelerated by the fast adoption of GLP1 weightloss drugs. Last month, General Mills' forecast cut sparked a selloff across consumer goods companies. Last week, peer Campbell's also cut its annual forecasts. Minneapolisbased General Mills said last month it was facing stiffer competition in proteincentric breakfast products as consumers shift toward higherprotein options, prompting it to roll out new proteinfocused products expected to account for about 25 of annual net sales. We started the year expecting that our investments, divestitures, and unfavorable timing comparisons would drive declines in our sales and earnings results through our first three quarters... And that's what we've seen play out, CEO Jeff Harmening said. As we move to the fourth quarter, we expect to deliver a step up in organic sales trends and return to earnings growth. Shares of the company, which stuck to its annual targets of adjusted profit declining 16 to 20 and organic sales to fall 1.5 to 2, were down 1 in...

Oil exports resume Wednesday amid security, economic challenges US crude stocks rose last week, sources cite API data Brent futures above 100 as no sign of war deescalation LONDON, March 18 Reuters Brent crude prices rose more than 4 on Wednesday after Iran's Revolutionary Guards threatened several energy facilities across Saudi Arabia, UAE, and Qatar in retaliation for an attack on its energy sites, heightening the risk of further disruptions to energy supplies in the region. With no signs of deescalation in the Iran conflict, benchmark Brent futures prices have settled above 100 per barrel for the past four sessions. Brent futures were up 4.53, or 4.4, at 107.95 a barrel by 1321 GMT on Wednesday, having risen to as high as 108.60 earlier in the session. U.S. West Texas Intermediate crude gained 1.91, or 2, to 98.12. The attacks on Iran's South Pars field were boosting oil and gas prices, and any further escalations of attacks to energy infrastructure would continue to raise prices, SEB analyst Ole Hvalbye said. Iran's Fars news agency said on Wednesday some tanks and gas facilities in the country's Asaluyeh refinery had been hit. IRAQI EXPORTS RESUME VIA PIPELINE In Iraq, North Oil Company sources said exports had resumed via pipeline after Baghdad and the Kurdistan Regional Government agreed on Tuesday to restart flows. Two oil officials said last week Iraq was seeking to pump at least 100,000 bpd through the port. Despite this development,...

Saudi used to export 6 million bpd via Strait of Hormuz Aramco using chemicals to speed up pipeline flows, sources say Aramco says Yanbu can export up to 5 million bpd China is buying the largest share of Yanbu flows OSLO, March 18 Reuters Saudi Arabia's crude oil loadings at its Yanbu port on the Red Sea are set to surge to a record 3.8 million barrels per day bpd in March, shipping data showed on Wednesday, after the U.S.Israeli war on Iran effectively shut exports via the Strait of Hormuz. The kingdom, the world's largest oil exporter, can pump up to 7 million bpd to Yanbu through its EastWest pipeline, allowing it to avoid sharper production cuts that neighbours Iraq, Kuwait and the United Arab Emirates have been forced to make due to limited alternative export routes. Of that capacity, around 5 million bpd could be available for exports, with the rest supplying local refineries, Saudi state energy company Aramco said on March 10. Around 70 tankers are expected to load at Yanbu this month, including about 40 still on their way, according to LSEG shipping data. Most are bound for Asia, with China accounting for the largest share at around 2.2 million bpd. The first tanker departed Yanbu for Asia on March 10. Average loadings at Yanbu rose to 2.6 million bpd so far in March, up from 1.4 million bpd in February and 1.3 million bpd in January, the data showed. SPEEDING UP PIPELINE FLOWS Aramco is using a frictionreducing chemical, known as dragreducing...

MUNICH, Germany, March 18 Reuters Insurer Talanx signalled on Wednesday it plans to cut its stake in Amprion after sources told Reuters last month that major owners of Germany's secondbiggest electricity grid were considering selling their stakes to new investors. We need to reevaluate our stake in Amprion, said Chief Financial Officer Jan Wicke, adding Talanx intended to participate in capital hikes where needed but that it must adjust stakes to the size of its own investment portfolio. Funding needs for energy networks across Europe are growing and Amprion plans to invest more than 36 billion euros 42 billion in expanding its grid infrastructure by 2029 and needs regular capital increases backed by its owners to do so. Some members of M31, a consortium of investors that owns 74.9 of Amprion, are exploring options, including shifting holdings to coshareholders as well as divesting stakes, sources had told Reuters last month. M31 shareholders include physicians' retirement fund AEBG, and insurers Talanx, Versicherungskammer Bayern, and Swiss Life, as well as Meag, the asset manager of the reinsurer Munich Re. 1 0.8660 euros Reporting by Alexander Huebner Writing by Madeline Chambers Editing by Ludwig Burger

Proposal part of broader EU competitiveness drive EU sees 300,000 EU Inc firms in 10 years EU Inc allows online registration within 48 hours for 100 Approval needed from EU governments, European Parliament BRUSSELS, March 18 Reuters The European Commission proposed on Wednesday allowing firms to set up in as little as 48 hours and operate according to a single set of rules across the 27nation EU in a bid to narrow the gap with the United States in innovative startups. The proposal is part of a broader EU drive to improve the 27nation bloc's competitiveness and avoid losing ground to the United States, where many European startups move to grow on a larger, unified market governed by a single corporate law. While the EU proposal to operate under a single set of EU rules is available to any European businesses, it is mainly aimed at new companies with innovative technologies to help them scale up. The EU executive has said the European Union created more startups per year than the US from 20182023, but at the beginning of 2025, the EU had 110 unicorns companies with a market value of 1 billion compared with 687 for the US and 162 for China. EU ENTITY LIKE DELAWARE LLC The new EU Inc proposal, is designed to create a new EUwide corporate entity, like a Delaware LCC in the United States, giving firms full access to the EU single market and avoiding the patchwork of 27 national corporate laws and more than 60 different forms that make creating a company run into...

FTSE 100 up 0.3, FTSE 250 gains 1 Oil slide helps risk appetite even as Middle East tensions persist British borrowing costs fall for third consecutive day Diploma hits record high after raising fiscal guidance March 18 Reuters London shares extended gains on Wednesday, as oil prices retreated and offered some relief to rattled global markets, while investors awaited the U.S. Federal Reserve rate decision later in the day. The Middle East war, in its third week, showed no signs of easing as Israel and Iran intensified attacks following the killing of Tehrans security chief. Oil, however, fell after Iraq resumed exports through the Ceyhan pipeline. UK's bluechip FTSE 100 was up 0.3 by 1044 GMT, rising for the third consecutive day, while the midcap FTSE 250 rose 1. Aerospace and defence jumped 2 and financials added 1.9, leading the days gains. The energy sector fell 0.6 from Tuesday's record high. Ithaca Energy dropped 5.2 after the oil and gas producer swung to an annual net loss. Meanwhile, markets expect the Fed to keep rates unchanged. Investors will closely parse the Fed's outlook for any signals on future monetary policy direction. At home, British government borrowing costs fell to their lowest in a week, though they remain higher than before the conflict amid worries about inflation and uncertainty over further Bank of England rate cuts. Most economists polled by Reuters abandoned their calls for a March 19 BoE rate cut and now expect a...

INR has declined over 1.5 since Iran war began Elevated oil prices raise risks for India's economy RBI interventions have slowed INR fall traders Analysts see fall to 95 if Iran war drags on MUMBAI, March 18 Reuters The Indian rupee fell to a record low on Wednesday, extending a rough patch as the raging conflict in the Middle East kept oil prices elevated, sparking capital outflows and raising macroeconomic risks for Asia's thirdlargest economy. The rupee closed at 92.63 per dollar, eclipsing its previous lifetime low of 92.4750 hit last week. The currency has declined more than 1.5 since the Iran war began amid nearly 8 billion of foreign portfolio outflows from local stocks. Frequent interventions by the central bank, including on Wednesday, have been curbing the fall in the rupee, traders said. Brent crude has climbed about 40 since the Middle East war broke out and a sustained rise could widen India's current account deficit and fuel inflation, leaving the rupee more exposed than many of its peers. India imports over 80 of its energy needs and the conflict threatens to curb remittances from the diaspora and hurt exports to the region. With oil around 100 per barrel, the pressure on the rupee will likely continue until tensions ease, Dhiraj Nim, an economist and FX strategist at ANZ, said. The RBI will be able to defend against speculation, but insofar as high oil prices will weaken the balance of payments, the RBI may not be adamant to hold the...

Oil price drop boosts investor sentiment despite Middle East tensions STOXX 600 gains for third consecutive session Diploma hits record high after raising fiscal guidance March 18 Reuters European shares climbed on Wednesday, extending their rebound, as easing crude prices lifted investor sentiment, with markets now turning their attention to the U.S. Federal Reserve's upcoming interestrate decision. The panEuropean STOXX 600 rose 0.5 to 605.69 points by 1015 GMT, marking its third straight session of gains its longest winning streak in a month. Global markets found some breathing room as oil prices fell after their recent surge, even as tensions in the Middle East deepened following the killing of Tehran's security chief and escalating hostilities between Israel and Iran. European equities have been under pressure lately, reflecting the region's heavy reliance on imported energy and its acute sensitivity to swings in crude prices. The benchmark has lost 4.4 over the past three weeks. Though the conflict showed little sign of easing, the retreat in oil offered investors a measure of relief, underlining just how critical stable energy prices are for Europe. The bloc, a major importer of Middle Eastern oil, remains especially vulnerable to price spikes, as they can quickly feed into inflation and weigh on growth. Financial stocks gave the benchmark its biggest lift on Wednesday, rising 2. Travel and leisure stocks, including airlines, advanced for a third...

LOS ANGELES, March 18 Reuters Josh D'Amaro officially assumes his new role as Disney's chief executive officer at Wednesday's annual shareholder meeting, taking the helm of the entertainment colossus at a time of profound change. The executive's stewardship of the company's lucrative theme parks business, which represents 57 of last year's profit of 17.5 billion, helped elevate D'Amaro to the corner office. Investors are eager for D'Amaro to lay out his strategy for guiding Disney through the artificial intelligence era, when tech giants threaten to rewrite the economics of media, and for managing possible disruptions to the company's tourism business caused by conflict in the Middle East and surging oil prices. D'Amaro also inherits a television business in decline, box office fatigue for major entertainment brands like Marvel and Star Wars, and a fractured entertainment landscape where Disney must compete with YouTube and TikTok for viewers' time and attention. He also will have to dispel memories of another former parks chief promoted to Disney CEO, Bob Chapek, whose brief, failed tenure resulted in the return of the company's longtime leader, Bob Iger, in November 2022. Although both D'Amaro and Chapek rose from the parks division, Disney's board paired D'Amaro with veteran television executive Dana Walden, who was elevated to president and chief content officer. TD Cowen analyst Doug Creutz wrote that Walden's proven creative...

WASHINGTON, March 18 Reuters A U.S. plan to help control global oil prices with a swap of millions of barrels of oil from the Strategic Petroleum Reserve depends on energy companies returning oil back to the facility with high premiums in the form of additional barrels, which some traders said could deter participation. The exchange is part of a wider agreement by countries in the International Energy Agency to release 400 million barrels of crude from reserves in an effort to tame prices that have risen during the U.S.Israeli war with Iran. Global oil prices closed above 103 per barrel on Tuesday as the Strait of Hormuz remained mostly shut to oil, gas and fertilizer transit. Here are details of the SPR exchange HOW MUCH OIL IS IN THE FIRST EXCHANGE? The Department of Energy took bids from energy companies until late Tuesday for initial swaps totaling up to 86 million barrels of oil, the results of which are expected to be published in coming days. The U.S. said last week exchanges from the SPR would eventually total 172 million barrels and oil companies would return about 200 million barrels including the premium. HOW MUCH IS THE INTEREST? The structure of the swap was unusual in that it required companies to pay back anywhere from 18 to 22 interest, or premium, in the form of oil. Bidders may offer to pay back even more oil in hopes of winning contracts. The high interest rate came amid pressure to keep the reserve, which currently holds 415 million barrels or...

Redchip IPOs set to face lengthy delays as domicile rules change Foreign interest in Chinese firms expected to take a hit Regulators want to boost oversight of how redchip firms use listing proceeds, sources say HONG KONG, March 18 Reuters Beijing's tightened scrutiny of plans by Chinese companies incorporated outside mainland China to list in Hong Kong could have a significant impact on the city's rich IPO pipeline at least in the shortterm, bankers and lawyers said. Sources have said authorities have told some socalled redchip companies that they should change their domicile back to China before going public. Such firms are registered abroad, mainly in tax havens, but hold assets and businesses in China via equity ownership. The China Securities Regulatory Commission confirmed that some redchip companies have recently received guidance to unwind their structure. That means some IPOs could be delayed by at least six months as redchip companies scramble to change their domicile, bankers and other experts said, adding that some might even have to abandon their IPO plans as changing the legal structure of the company could be costprohibitive. OVERSEAS INVESTORS MAY BE DISCOURAGED Foreign interest in Chinese firms could also take a hit. For foreign investors, the dismantling of redchip structures could reduce flexibility regarding equity stakes and future divestment, said Kenny How, a councillor at the Hong Kong Securities Futures Professional Association....

Oil price surge raises economic risks for India INR hit record low of 92.4750 last week SGD, CNY among Asia FX seen faring better than INR MUMBAI, March 18 Reuters Dark clouds over the rupee's outlook are prompting banks to pitch crosscurrency trades targeting its underperformance against certain Asian peers, highlighting how the Iran warsparked oil surge may create uneven outcomes. Barclays Bank is recommending positioning for rupee weakness against the Chinese yuan, while HSBC is backing the Singapore dollar. India is among the economies most sensitive to rising oil prices. Brent crude is up nearly 40 since the conflict in the Middle East began, threatening India's external balances and weighing on its inflationgrowth balance. The rupee is down about 1.5 since the war began, hitting a record low of 92.4750 versus the U.S. dollar last week. In that time, the yuan has slipped 0.2 and the Singapore dollar dipped 0.8. The escalation in the Middle East will likely exacerbate the divergent external picture for India and China, with the former facing relatively more pain, Mitul Kotecha, head of Barclays' FX EM macro strategy Asia, said in a note. Barclays pointed to China's resilient exports and large buffers against the oil shock. China is estimated to have strategic and commercial crude reserves of around 1.2 billion barrels. Barclays' economists expect it to log a record trade surplus above 1.3 trillion this year. The yuan has rallied nearly 15...

March 18 Reuters Microsoft is considering legal action against its partner OpenAI and Amazon over a 50 billion deal that could violate its exclusive cloud agreement with the ChatGPT maker, the Financial Times reported on Wednesday. Last month, Amazon and OpenAI signed several agreements, including one that makes Amazon Web Services AWS the exclusive thirdparty cloud provider for Frontier, OpenAI's enterprise platform for building and running AI agents. The dispute centers on whether OpenAI can offer Frontier via AWS without violating the Microsoft partnership, which requires the startup's models to be accessed through the WindowsOS maker's Azure cloud platform, the FT report said, citing sources. Reuters could not immediately verify the report. Microsoft, Amazon and OpenAI did not immediately respond to Reuters' requests for comment. FT said Microsoft executives believed the approach was not feasible and would violate the spirit, if not the letter, of their agreement, and added that the companies were in talks to resolve the dispute without litigation ahead of Frontier's launch. We know our contract, a person familiar with Microsofts position told the newspaper. We will sue them if they breach it. If Amazon and OpenAI want to take a bet on the creativity of their contractual lawyers, I would back us, not them. Microsoft was one of OpenAI's earliest investors, infusing 1 billion in the firm in 2019 and 10 billion at the beginning of 2023. In September...

Oil exports resumed on Wednesday amid security and economic challenges US crude stocks rose last week sources cite API data Brent futures remain above 100 per barrrel as no signs of Iran war deescalation BEIJINGSINGAPORE, March 18 Reuters Oil prices fell on Wednesday after crude exports resumed from Iraq's Kirkuk fields to Turkey's Ceyhan port via pipeline, providing modest relief to global markets concerned about supplies from the Middle East. But with no signs of a deescalation of the Iran conflict, which has left oil exports from the Middle East largely halted, Brent futures prices have settled above 100 per barrel for the prior four consecutive sessions. After rising more than 3 on Tuesday, Brent futures retreated 1.51, or 1.46, to 101.91 a barrel by 0731 GMT on Wednesday. U.S. West Texas Intermediate crude dropped 2.75, or 2.86, to 93.46. North Oil Company sources said crude exports had resumed via pipeline, after Baghdad and the Kurdistan Regional Government KRG agreed on Tuesday to restart flows. Two oil officials said last week that Iraq was seeking to pump at least 100,000 barrels per day of crude through the port. The news provided some relief to the market. Any additional volume finding its way back to the market is valuable under the current situation, so prices moved down to reflect that, said LSEG senior analyst Anh Pham. But we are still in a 100 per barrel oil environment, and the crisis around the Strait of Hormuz shows no sign of stopping...

Iran rejects deescalation as Israel kills Iranian security chief Fed expected to hold rates steady Oil prices remain above 100 a barrel March 18 Reuters Gold prices held steady on Wednesday as investors stayed on the sidelines, assessing the economic impact of the Middle East conflict ahead of the U.S. Federal Reserve's policy decision. Spot gold edged up 0.1 at 5,008.58 per ounce as of 0629 GMT. U.S. gold futures for April delivery rose 0.1 to 5,012.60. Gold's trajectory will largely depend on the Fed's forwardlooking guidance ... Will the Fed still be looking for one interest rate cut this year or will they start to actually pencil in no cut at all due to this very fluid situation in the Middle East, said Kelvin Wong, a senior market analyst at OANDA. The Fed is widely expected to hold rates steady for a second consecutive meeting later in the day. Meanwhile, central banks in the UK, the euro zone, Japan, Canada, Switzerland, and Sweden meet this week in their first decisions since the start of the Iran war. Oil prices stayed above 100 a barrel, as Iranian attacks on the UAE deepened fears over the global supply outlook. We may see these oil prices coming down gently, but with that geopolitical risk premium still intact, then that could see some bargain hunting for gold, said Wong. The Strait of Hormuz, a conduit for a fifth of the world's oil shipments, remains largely shut, with Iran threatening to attack tankers linked to the U.S. and Israel....

Dollar index falls for third session amid easing oil prices Central banks set to hold interest rates amid MidEast conflict Japan PM set to discuss investment, tariffs with Trump TOKYO, March 18 Reuters The U.S. dollar lost ground on Wednesday as easing crude oil prices allowed for a glimmer of risk appetite ahead of a slate of central bank policy meetings. The currency weakened against the yen which pulled back from levels where traders had braced for Japanese intervention, ahead of a meeting in Washington between U.S. President Donald Trump and Japanese Prime Minister Sanae Takaichi. It also reversed course against the euro during the day, with the single currency edging up for a third session ahead of the start of a twoday meeting at the European Central Bank. Still, the safehaven greenback has gained overall since the U.S. and Israel attacked Iran almost three weeks ago. While the war has seen oil become more expensive, prices fell more than 2 a barrel after Iraqi and Kurdish authorities agreed to resume oil exports via Turkey's Ceyhan port from Wednesday. With the rise in crude oil prices appearing to pause for the moment, it's not as though conditions have improved dramatically, but for now, markets across the board seem to be recovering somewhat, said Hirofumi Suzuki, chief foreign exchange strategist at Sumitomo Mitsui Banking Corp. In the case of USDJPY, you could say it has moved a bit in the direction of yen strength. The dollar index , which...

Brent crude futures fall 2.2 to 101.09 a barrel Japan's Nikkei up 2.6, Nasdaq futures edge 0.5 higher Fed dot plot may indicate whether a rate cut this year remains SYDNEY, March 18 Reuters Asian shares rallied on Wednesday as oil prices paused gains, with markets turning to the U.S. Federal Reserve meeting to see how policymakers will balance growth and inflation risk amid conflict in the Middle East. Israel intensified its offensive by killing Iran's security chief, while Iran renewed strikes on oil facilities in the United Arab Emirates. A senior Iranian official said the new supreme leader rejected deescalation offers conveyed by intermediaries, signalling no quick end to a war that has unleashed a global oil shock. Oil prices took a breather on Wednesday after the Iraqi government and Kurdish authorities reached a deal to resume oil exports via Turkey's Ceyhan port, though the Strait of Hormuz remained largely closed. Brent crude futures dropped 2.2 to 101.09 a barrel while U.S. West Texas Intermediate crude fell 3.3 to 93.05. That proved to be a comfort for equity investors, with MSCI's broadest index of AsiaPacific shares outside Japan up 1.6 as South Korea surged more than 4. Japan's Nikkei also rallied 2.6. Chinese bluechips bucked the trend with a decline of 0.5. Natasha Kaneva, head of global commodities research at JPMorgan, said apparent stability in Brent and WTI reflects a temporary buffer created by regional inventory overhang, benchmark...

Fed expected to keep rates unchanged Financials rebound from prior losses Delta and American raise revenue guidance SP 500 0.25, Nasdaq 0.47, Dow 0.10 Reuters Wall Street ended higher on Tuesday, with gains in Delta Air Lines and other travel stocks, while the Federal Reserve began its twoday policy meeting amid investors' worries about high oil prices and the Middle East conflict. Shares of airlines and travel companies rebounded from losses in recent weeks related to the U.S. and Israeli attack on Iran and surging energy prices. Delta rallied more than 6 and American Airlines Group gained 3.5 after both companies raised their revenue guidance for the current quarter. United Airlines rose 3.2. Norwegian Cruise Line Holdings climbed over 2 and Expedia Group jumped more than 4. FED POLICYMAKERS WEIGH INFLATION CONCERNS Concerns of prolonged supply disruptions due to the closure of the Strait of Hormuz shipping route have kept crude prices near 100 a barrel. Worries about high oil prices will be in sharp focus as Fed policymakers weigh inflation concerns against signs of a weakening jobs market. The central bank started its twoday monetary policy meeting on Tuesday and traders expect the Fed to keep borrowing costs unchanged in its decision on Wednesday. Rate futures suggest expectations of one 25basispoint cut toward the end of the year, according to LSEGcompiled data, down from around two before the war. The place where we could get in trouble with this is...

Fed faces inflation, growth dilemma amid Iran conflict US gasoline prices up more than 25 since war began Fed policymakers' projections could lean towards stagflation WASHINGTON, March 18 Reuters Federal Reserve officials, convening in a wartime setting that began less than three weeks ago, are expected to hold interest rates steady on Wednesday, but more significantly to outline in a new policy statement and projections how they feel President Donald Trump's decision to launch an openended conflict with Iran has recast the outlook for the U.S. economy, inflation and monetary policy. There are no sure bets, and without a clear stopping point to the U.S.Israeli bombing campaign, economists say the domestic and global impacts hinge on how long the war continues, on the structure of whatever Iranian government emerges at the end of it, and whether oil prices rise further beyond 100 a barrel or recede soon to their prewar levels below 80. The average price of gasoline in the U.S. was 3.79 per gallon as of Tuesday, more than 25 higher than before the war, according to data from motorist advocacy group AAA. A variety of other prices could rise in turn Airlines have begun warning of rising travel costs as the price of jet fuel surges, and a White House official said the U.S. was seeking other sources of agricultural fertilizers. As consumers cope with higher oilrelated prices, they may cancel purchases or try to scale back spending altogether, while U.S. trading...

Amazon, USPS have been negotiating new contract for over a year Amazon says USPS walked away; USPS says it is still negotiating USPS faces cash crunch; needs auction to raise funds USPS auction adds uncertainty, Amazon says WASHINGTON, Reuters Amazon.com plans to sharply cut the number of packages it sends through the U.S. Postal Service after failing to agree business terms, a person briefed on the matter told Reuters. The ecommerce major, widely considered the Postal Service's biggest customer, has been reducing postal shipments and aims to cut them by at least twothirds by September when its contract ends, the person said. The Wall Street Journal reported the plan earlier on Tuesday. U.S. Postmaster General David Steiner told Reuters on the sidelines of a congressional hearing on Tuesday that USPS is still negotiating with Amazon. I couldn't tell you where that's going to end, Steiner said, declining to comment on the size of any reduction, citing a confidentiality agreement. Steiner said at a U.S. House hearing on Tuesday that USPS could be out of cash within 12 months, or as early as October if it makes required retirement payments. Amazon and USPS have been in talks for more than a year about extending their relationship. However, Amazon package volume has begun to come down with full reduction likely by fall, the person said, declining to be identified as the information was private. USPS in January began taking proposals for access to its...

MUMBAI, March 17 Reuters The Indian rupee was hemmed in a tight band on Tuesday as corporate dollar demand and worries over the hit from elevated energy prices were blunted by staterun banks' dollar sales, most likely on behalf of the central bank. The rupee closed at 92.37 per dollar, barely changed on day and hovering close to its alltime low of 92.4750 hit last week. Iran launched fresh attacks on the United Arab Emirates on Tuesday with conflict in the Middle East in its third week, unnerving investors worldwide and stoking worries over how it could reshape growthinflation dynamics. Brent crude rose over 3 to 103.58 a barrel after several U.S. allies rebuffed U.S. President Donald Trump's call to send warships to escort tankers through the Strait of Hormuz, a vital artery for a fifth of global energy shipments. Worries over how the conflict could impact India have reflected in rupee options trading activity with data showing that dollarrupee call volumes are outpacing puts, indicating the market is positioning for further weakness in the currency. Given the rise in oil prices, we expect the buying of USD by importers to increase, contributing to further pressure on the rupee, analysts at Barclays said in a note. In addition to elevated dollar bids from importers, traders say exporters are reticent to hedge their future receivables as they expect the rupee to continue weakening. In the nearterm, the currency's outlook is entirely dependent on oil and the...

Asia spot LNG prices double while coal up around 14 Wardriven LNG shock seen destroying Asian gas demand Bangladesh, Philippines, Thailand ramp up coal output LNG infrastructure investments at risk in South Asia SINGAPOREKARACHI, March 17 Reuters Asian utilities are boosting coalfired power generation to cut costs and safeguard energy supply, industry officials say, as the U.S.Israeli war on Iran chokes liquefied natural gas LNG shipments and soaring prices threaten to suppress LNG demand. Asia spot LNG prices have doubled to threeyear highs in the second major supply shock in four years, as shipping through the Strait of Hormuz has all but stopped and No.2 global exporter Qatar has halted shipments. In South Asia, Bangladesh is increasing coal power generation and coalfired power imports in March, daily government data shows. Pakistan, meanwhile, aims to further boost power generated from domestic sources after solar additions helped it avoid a repeat of the LNG supply volatility behind widespread outages following Russia's 2022 Ukraine invasion, Power Minister Awais Leghari said. With reduction in LNG generation, plants running on locally mined coal will be able to produce more during offpeak hours, Leghari told Reuters. In Southeast Asia, the Philippines is ramping up coalfired power and slashing LNGfired output, while Vietnam's EVN told Reuters last week it is negotiating coal supply and Thailand is boosting generation from its largest coal plant to...

March 17 Reuters Citigroup cut its 12month forecast for bitcoin and ethereum, citing slow U.S. legislative progress that narrows the window for regulatory catalysts expected to boost ETFdriven demand and broader institutional adoption. Progress on U.S. crypto marketstructure legislation has stalled in the Senate, with the Clarity Act's chances of passage declining over disagreements on stablecoin rules and a shrinking window for approval in 2026. The Wall Street brokerage lowered its 12month bitcoin price forecast to 112,000 from 143,000 and its ethereum estimate to 3,175 from 4,304. Regulatory catalysts will drive further adoption and flows but the window of opportunity for U.S. legislation this year is narrowing, Citi strategist Alex Saunders said in a note on Monday. Citi said that under a recessionary macro backdrop, bitcoin could drop to 58,000 and ether to 1,198, while its bull case, driven by stronger endinvestor demand, puts bitcoin as high as 165,000 and ether at 4,488. Bitcoin last traded around 74,298.11 and ether around 2345.51, as of 0750 GMT on Tuesday. ETH will be especially sensitive to user activity metrics, which have been weak recently, but stablecoin and tokenization trends may increase interest and usage, Citi added. Chances for passing a crypto bill would shrink further if Democrats gain seats in the U.S. Congress in November midterm elections, since Democratic lawmakers are more divided on overhauling federal rules to accommodate...

Let Your Leadership Be Heard: Why Executive Interviews Matter in Financial Services Your CEO probably knows the industry better than anyone. Your founder may have real market insight.Your senior team may have years of experience, strong views, and a clear sense of where the industry is heading. But here is the real question: Is the market hearing them? In financial services, knowledge alone is not enough.Your leadership needs to be visible. It needs to be heard. It needs to help shape how your brand is seen by clients, partners, and the wider market. That is where executive interviews can make a real difference. More Than Visibility An executive interview is not just another piece of content. It gives your leadership team the chance to speak directly to the market in a way that feels human, credible, and focused. It puts your people at the centre of the story and helps your audience connect your brand with real experience and clear thinking. When your CEO, founder, or senior executive appears in a well-produced interview, your brand becomes more than just another company name. It becomes: a voice people listen to a name people remember a brand people trust This is not only about getting seen.It is about building presence. Why Leadership Content Works People do business with brands they trust. And trust often starts with the people behind the brand. A strong executive interview helps your audience understand what your company stands for, how your leadership thinks, and why your business matters in the market. It gives your brand context and helps turn attention into credibility. For firms in online trading, fintech, payments, and crypto, this matters even more. These are competitive markets, and many companies offer similar products or services. What often sets one brand apart is not just what it sells, but how clearly it communicates its value and expertise. That is why leadership-led content works so well. Put Your Expertise in Front of the Right Audience Finance Magnates reaches the people who move this industry, including C-level leaders, brokers, product teams, data professionals, and compliance voices. Finance Magnates is trusted by 200+ top financial brands. This means your executive interview is not appearing in isolation. It sits within a trusted media brand that already speaks to the right audience. That matters. Because when your leadership is featured in the right place, the message carries more weight. A Stronger Way to Build Authority Executive interviews help brands do more than fill a content slot. They help companies: show real expertise through the voice of their leadership build trust with clients, partners, and prospects strengthen brand perception stand out in a crowded market create a useful content asset that can also be shared across sales, email, and social channels An interview can keep working long after it is published. It can support campaigns, sales outreach, brand building, and event follow-up. It can also give your team a strong piece of content (check out a Thought Leadership article constructed from a Finance Magnates Executive interview) that shows not only what your company does, but how it thinks. ➡️ Are you building a Multi-Channel Marketing Strategy for Fintech Brands? Make sure Video Executive Interviews are included. Let the Market Hear What Your Team Has to Say If your leadership team has something worth saying, an executive interview is one of the clearest ways to make sure it gets heard. Finance Magnates Executive Interviews help turn expertise into visibility, and visibility into trust. Because in this market, being good at what you do is important. But being heard is what helps people remember you. Book Your Executive Interview Put your leadership in front of the right audience.Share your insight. Strengthen your brand. Build authority where it matters. Book your Executive Interview with Finance Magnates today at the next Finance Magnates Summit or iFX EXPO in 2026 This article was written by Dora Christofi at www.financemagnates.com.

Gold-i announced today (Thursday) that it has enhanced its crypto liquidity offering for institutional clients by integrating the Crypto.com Exchange into its MatrixNET liquidity management and distribution platform. Gold-i Efforts to Boost Crypto Liquidity The latest addition to the liquidity pool follows a continued effort by Gold-i to enhance the offering under MatrixNET. “Crypto.com is one of the world’s largest and most secure cryptocurrency platforms,” said Tom Higgins, CEO and Founder of Gold-i . “We are delighted to be expanding our offering to enable Gold-i’s MatrixNET clients to connect seamlessly to Crypto.com’s liquidity pool, gaining access to an even greater choice of high-quality crypto liquidity.” According to CoinMarketCap data, Crypto.com handled $2.1 billion in spot crypto trading volume over the past 24 hours and almost $1.3 billion in derivatives volume. Following this latest integration, Gold-i clients can connect to the Crypto.com Exchange via a single FIX API connection to MatrixNET, simplifying onboarding and reducing operational complexity. However, the company’s announcement highlighted that Gold-i clients in “selected jurisdictions” (not specified by name) will have access to the Crypto.com Exchange’s liquidity infrastructure. [#highlighted-links#] The Demand for Crypto Liquidity Is Rising Gold-i is known for its liquidity offerings and is actively enhancing its services. The firm recently combined three products: Matrix2, a liquidity management platform; Crypto Switch™, its institutional digital asset solution; and MatrixNET, a liquidity distribution platform. This consolidation has resulted in MatrixNET evolving into a unified platform for liquidity management and distribution. The company has recently been focusing on enhancing its offerings. FinanceMagnates.com earlier reported that Gold-i added Hyperliquid to its MatrixNET liquidity management platform, making it the first decentralised finance exchange in the liquidity pool. MatrixNET is already connected to more than 80 liquidity providers and 35 crypto exchanges, according to Gold-i, with recent additions covering multiple asset classes. In February 2025, the firm added Edgewater Markets to the platform, extending access to precious metals, FX, and NDFs. In mid-2024, it integrated Cypator to expand cryptocurrency liquidity options for retail brokers. This article was written by Arnab Shome at www.financemagnates.com.

UP Fintech Holding Limited (NASDAQ: TIGR ), the Singapore-based operator of Tiger Brokers, posted full-year 2025 revenue of $612.1 million, a 56.3% increase from $391.5 million in 2024, according to the company's unaudited earnings report released today (Thursday). Non-GAAP net income attributable to shareholders reached $186.5 million for the year, up 164.7% from $70.5 million the prior year. The results cap a year of strong top-line growth for the online broker, but the quarterly picture tells a more nuanced story. Fourth-quarter revenue came in at $175.6 million, up 41.5% year-over-year but essentially unchanged from the third quarter's $175.2 million, suggesting the revenue acceleration that defined the first three quarters plateaued in the final stretch. Q4 Profit Slips From Record High Q4 GAAP net income came in at $45.2 million, up 61.3% year-over-year, but down roughly 16% from the $53.8 million recorded in Q3 2025, when the company had reported what was then its best quarter on record across both revenue and profit . On a non-GAAP basis, Q4 net income came to $48.9 million, compared with $57 million in Q3. The company did not provide a specific explanation for the sequential profit decline in its earnings statement. “Both of our financial and operating performance have achieved significant growth in the full year of 2025,” Wu Tianhua, Chairman and CEO of UP Fintech , commented on the results. “We are pleased to see significant breakthroughs in both our annual and quarterly topline and bottom line compared to 2024.” Total client assets stood at $60.8 billion at the end of December, down slightly from $61.0 billion at the close of September, with the modest dip likely reflecting market-driven asset valuation changes during the quarter. Year-over-year, client assets were up 45.7% from $41.7 billion at year-end 2024. Margin financing and securities lending balances also eased from $5.7 billion at the end of Q3 to $5.4 billion at year-end, though they remained 21.5% above December 2024 levels, the company reported. Hong Kong Growth Leads Regional Expansion The most pronounced growth came from Hong Kong, where the company said full-year trading volume expanded 840.9% year-over-year, and Q4 trading volume rose 1,305% year-over-year. Average net asset inflows per new funded client in Hong Kong reached $43,000 in the quarter, while client assets in the city more than tripled year-over-year, according to the company. Virtual asset trading was also active, with crypto order volume growing 228% year-over-year in Q4 and 60.9% quarter-over-quarter. Singapore, where UP Fintech is headquartered, delivered what the company described as its eighth consecutive quarter of growth in trading orders and trading accounts. Full-year net profit in Singapore rose 96% year-over-year, with client assets up 50% year-over-year in Q4, the company said. UP Fintech entered Singapore's securities market in 2021 and has since built a meaningful retail footprint in the city-state. Client assets in Australia and New Zealand more than doubled year-over-year, the company added. IPO Business Drives Corporate Revenue Spike The company's other revenue segment, covering investment banking, ESOP, and corporate services, rose 220.6% year-over-year to $30.8 million in Q4. The company said it completed 20 Hong Kong IPOs during the quarter, including autonomous driving firm Pony.ai, described internally as the largest global autonomous driving IPO of 2025, and HashKey Group, which the company said was the sole digital asset IPO in Hong Kong that year. Full-year Hong Kong IPO margin financing subscription reached HK$1.2 trillion, the company said, crossing the HK$1 trillion mark for the first time. UP Fintech's growing role in the city's IPO pipeline reflects broader momentum in Hong Kong's listing market, a theme that also drove strong Q3 results for the broker . On the ESOP side, the company added 135 new clients for the full year, bringing its total corporate client base to 748. Annual ESOP net profit rose more than 400% year-over-year, the firm said. Scale Gap With Futu Remains Wide While UP Fintech's results reflect consistent expansion, the company operates at a considerably different scale than its nearest comparable, Futu Holdings. Futu reported full-year 2025 revenue of HK$22.85 billion (approximately $2.94 billion), an increase of 68.1% year-over-year, with net income more than doubling to HK$11.3 billion. Futu's funded account base stood at 3.37 million at year-end 2025, compared to UP Fintech's 1.25 million. Tiger Brokers had first crossed the one-million funded-client milestone in 2024 . UP Fintech added 29,700 funded accounts in Q4, its lowest quarterly addition since Q1 2025, and below the 40,000 added in Q2 2025 and 31,500 in Q3. The company has set a target of 150,000 new funded clients for 2026, in line with what it guided for 2025, and said it will prioritize user quality over volume in the coming year. This article was written by Damian Chmiel at www.financemagnates.com.

Swissquote expects to close 2026 with net revenue of CHF 760 million and pre-tax profit of CHF 385 million. It has also revised its 2028 net revenue target from CHF 900 million to CHF 950 million; however, the pre-tax profit margin has been reduced from 55 per cent to 53 per cent. It is still expected to bring in CHF 500 million in pre-tax profit by 2028 . A Strong Year and a Bullish Outlook The guidance came as the Swiss broker ended 2025 with net revenue of CHF 723.3 million and a pre-tax profit of CHF 420.2 million . The numbers increased by 9.4 per cent and 21.6 per cent, respectively. Revenue last year was boosted by an increase in trading activity. This drove a 17.5 per cent increase in net fee and commission income to CHF 209.4 million and a 52.6 per cent increase in net trading income to CHF 119.5 million. Although the CHF saw a notable interest rate cut, net interest income remained stable at CHF 217.6 million, a 3 per cent decline, supported by higher loan and deposit volumes. Due to low FX volatility, the broker’s net eForex income decreased by 3.8 per cent; however, client activity shifted to precious metals such as gold, which saw a strong one-sided rally last year. Crypto trading volume at the broker also declined by 12.1 per cent. However, net income from crypto assets remained almost unchanged at CHF 85.7 million. Meanwhile, Swissquote added more than 100,000 accounts last year, bringing its total to 1.2 million. Client assets on the platform also increased by 16.3 per cent to CHF 88.7 billion. It also attracted CHF 8.5 billion in new funds, of which roughly 40 per cent came from Europe. Investments for Growth Last year, Swissquote also took full control of Yuh, a digital finance platform. It previously held a 50 per cent stake and acquired the remaining share from PostFinance , paying CHF 89.8 million in cash and treasury shares. The upward revision in revenue and profit came due to the impact of Yuh’s performance on Swissquote’s overall results. For 2025, Yuh reported a profit for the second consecutive year, 399,201 accounts, and CHF 3.7 billion in client assets. The broker also increased its spending on technology and AI, as well as strengthening its existing international presence. “While this acceleration is expected to weigh on the pre-tax profit margin in the short term, the Group expects the resulting benefits to become increasingly visible from H2 2026 onwards,” the broker noted. “Swissquote remains committed to disciplined cost growth over time, with total expense increases expected to remain below the growth rate of customer numbers and client assets. Without these strategic investments, the increase in total expenses in 2025 would have been lower.” This article was written by Arnab Shome at www.financemagnates.com.

The Cyprus Diaspora Forum is proud to announce a strategic collaboration with REALTYon, creating a powerful platform designed to attract high-net-worth international investors to Cyprus and connect them with premium real estate opportunities. The partnership is particularly strategic as both the Cyprus Diaspora Forum and the REALTYon exhibition will take place during the same week in May 2026, creating a unique opportunity to bring together global diaspora leaders, international investors, and leading real estate developers in Cyprus at the same time. Through this collaboration, both organisations will activate their international networks to identify and engage qualified VIP investors who are actively seeking property and investment opportunities in Cyprus. Selected investors will be invited to participate in the exclusive REALTYon VIP Buyer Programme , where they will gain access to carefully curated one-to-one meetings with leading developers and sponsors during the REALTYon exhibition on 7–8 May 2026. “The initiative is designed to facilitate high-value connections by arranging pre-scheduled meetings between serious investors and Cyprus’ most prominent real estate stakeholders,” Elena Christopher, REALTYon’s Director, Hosted Meetings & Strategic Engagement – Events, said. As part of this collaboration, the partners aim to facilitate pre-qualified VIP investor meetings onsite at REALTYon. “Leveraging the Cyprus Diaspora Forum’s influential global diaspora network and REALTYon’s specialised real estate platform, this partnership creates a strategic gateway for international capital to engage directly with the Cyprus property market,” Paul Lambis, Founder and CEO of the Cyprus Diaspora Forum, said. “Through targeted outreach to its global diaspora investor network, the Cyprus Diaspora Forum will introduce qualified investors to the REALTYon VIP Buyer Programme. Interested investors will then be guided through a structured qualification process to ensure their investment interests are matched with the most relevant real estate projects and developers participating in REALTYon,” Lambis added. “The REALTYon team will coordinate the investor matchmaking process, facilitating curated one-to-one meetings that allow investors to explore a wide range of opportunities within the Cyprus real estate market,” Christopher explained. By aligning two major international platforms taking place at the same time in Cyprus, this collaboration is expected to significantly strengthen investor engagement and position Cyprus as a dynamic hub for real estate investment, international business, and diaspora connectivity. The Cyprus Diaspora Forum and REALTYon look forward to welcoming global investors, developers, and industry leaders to a unique environment where strategic connections, investment opportunities, and meaningful partnerships can flourish. View this post on Instagram A post shared by REALTYon Expo (@realtyonexpo.cy) This article was written by Finance Magnates Staff at www.financemagnates.com.

SBI VC Trade, the digital asset arm of SBI Holdings, is launching a USDC lending product, bringing regulated access to dollar-pegged crypto returns in the domestic market. It allows retail investors in Japan to earn yields by lending stablecoins through a licensed platform. To celebrate the rollout, SBI VC said it will offer an annualized yield of 10% for a 12-week term during the initial phase. The company plans to maintain an annual rate of around 5% going forward—still well above most U.S. dollar time deposit rates, which typically range between 0.01% and 4%. High Initial Yield to Mark Launch Under the new program, users can lend Circle’s USD Coin (USDC) directly to the platform, with each offering capped at 5,000 USDC. Interest earnings will be treated as miscellaneous income for tax purposes, allowing small-scale participants to remain tax-exempt if their total annual miscellaneous income stays under ¥200,000. SBI clarified that the service constitutes a loan, not a deposit, meaning participants face direct counterparty risk rather than enjoying bank-style asset segregation. Join the inaugural Finance Magnates Singapore Summit 2026 , which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC. The company also reserves the right to re-lend the borrowed USDC as part of its regular operations. Funds cannot be withdrawn during the fixed 12-week term, limiting quick access in response to market changes. SBI VC Trade’s move highlights the rapid evolution of Japan’s regulatory stance on stablecoins. The company began handling USDC in March 2025 after becoming the only licensed platform in the country authorized to distribute and trade stablecoins to the public. A Milestone in Japan’s Stablecoin Evolution In partnership with Circle, SBI has been advancing local stablecoin infrastructure. Their joint venture, established in August 2025, aims to promote USDC adoption and explore its use in digital finance. SBI VC Trade’s new USDC lending product comes as SBI Holdings accelerates its push into regulated digital assets and tokenized markets. The launch adds a yield-bearing stablecoin service on top of SBI’s existing USDC spot support and comes through a licensed domestic platform that targets retail demand for dollar-linked returns. In parallel, SBI and Startale have begun building out“Strium,” a blockchain infrastructure for trading tokenized securities and real-world assets in Asia. That project, along with their digital yen stablecoin initiative, shows SBI trying to stitch together stablecoins, tokenized assets and 24/7 settlement into a single architecture that can serve both retail and institutional clients. SBI has also moved on the international front with an investment in U.S. prime broker Clear Street and plans for a joint venture in Japan. That deal aims to connect SBI’s domestic securities and derivatives flow with modern prime brokerage infrastructure in the U.S., giving the group more flexibility around cross-border trading and financing. This article was written by Jared Kirui at www.financemagnates.com.

Colmex Pro has decided to restrict the onboarding of new retail contracts for difference (CFD) clients, FinanceMagnates.com has learned. No More CFDs The Cyprus-regulated broker highlighted that its decision to exit the CFD market was “part of its longer-term transition towards investment products and market access solutions.” It is going to focus on products such as equities, ETFs, and other exchange-traded instruments. “CFDs have been a significant part of the online trading industry for many years,” said Nicos Vasiliou, Chief Executive Officer of Colmex Pro. “At the same time, we believe there is growing importance in building around products that are more transparent in nature and better suited to long-term investor participation.” Vasiliou took over t he broker’s executive control in late 2024 . Interestingly, he has a compliance background and spent over three years of his career at the Cyprus Securities and Exchange Commission (CySEC), which regulates CFD brokers on the Mediterranean island. Join the inaugural Finance Magnates Singapore Summit 2026 , which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC. The company also believes that future growth in financial services will increasingly come from firms able to provide straightforward market access through products with less structural complexity and clearer alignment with investor interests. “[Our] decision reflects what we believe,” Vasiliou added. “Our focus is increasingly on exchange-traded products and on building a platform model grounded in transparency, sustainability, and long-term client value.” This article was written by Arnab Shome at www.financemagnates.com.

Crypto exchange Kraken has paused its plan to go public. According to sources cited by Coindesk, the exchange is blaming unfavorable market conditions four months after it filed confidentially with the U.S. Securities and Exchange Commission (SEC). Kraken’s parent company, Payward, submitted a draft S‑1 registration last November for an initial public offering of its common stock. The filing came a day after the company raised $800 million at a $20 billion valuation, including $200 million from Citadel Securities. IPO Plans on Hold A Kraken representative acknowledged the confidential SEC filing but did not provide further details. According to people with knowledge of the situation, the company intends to revisit its IPO plans once market conditions become more favorable. The move follows a sharp downturn in crypto markets since Bitcoin hit a record high in October . Lower asset prices and weaker trading volumes have weighed on valuations, making firms more cautious about public listings. At the time of publication, Bitcoin traded around $71,375 dollars with a market capitalization of about 1.43 trillion dollars, according to CoinMarketCap data. Over the previous 24 hours, BTC has dropped 3%, with a modest 1% gain in the weekly chart. This is low compared to more than $120K posted around October last year. Join the inaugural Finance Magnates Singapore Summit 2026 , which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC. Last year, however, crypto firms saw a surge in IPO activity. Crypto firms including Circle, Bullish, and Gemini raised a combined $14.6 billion in 2025, according to Cointribune. Related: Kraken’s 2025 Revenue Soared to $2.2 Billion as It Prepares for an IPO Several crypto firms and exchanges are currently preparing for potential public listings, including Kraken, Consensys, Gemini, OKX, FalconX, Ledger, Chainalysis and tZero. Tokenization specialist Securitize is moving toward a Nasdaq debut via a SPAC deal valued at about 1.25 billion dollars. Crypto IPO Pipeline Grows BitGo became the first major crypto listing of 2026 when it raised about 213 million dollars in a U.S. IPO in January at 18 dollars per share, implying a valuation of roughly 2 billion dollars for the digital asset custodian. The shares initially traded higher but later fell below the offer price, leaving the stock down by around 40–45% from its IPO level in the weeks after listing, according to market data reported by mainstream financial outlets. Meanwhile, Kraken has been expanding through acquisitions, including the purchase of NinjaTrader , a Cyprus MiFID-licensed broker, tokenization platform Backed Finance , and most recently token management firm Magna. The exchange also rolled out tokenized equity perpetual futures for non U.S. clients via its xStocks offering. This article was written by Jared Kirui at www.financemagnates.com.

An approach to regulation that balances clear guidelines with a willingness to innovate has positioned Singapore at the forefront of developments in asset tokenisation. MAS Initiatives and Early Projects Speaking at the Singapore FinTech Festival 2025 last November, Chia Der Jiun, managing director of the Monetary Authority of Singapore (MAS), noted that the regulator started its journey with asset-backed tokens with the launch of Project Guardian in 2022, since when money market funds have been tokenised and bonds have been issued natively and settled on chain. Join the inaugural Finance Magnates Singapore Summit 2026 , which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC. A few weeks later, Lim Tuang Lee, MAS assistant managing director (capital markets), told the Futures Industry Association Asia Derivatives Conference that interest in tokenisation arrangements among market participants was growing steadily. To facilitate this growth, MAS has launched the settlement equivalent of Project Guardian to support industry trials with tokenised bank liabilities and regulated stablecoins for settlement, and established an operational shared ledger infrastructure that enables financial institutions to test the settlement of tokenised financial assets using wholesale CBDC. Ecosystem Strengths and Market Infrastructure Singapore’s dense concentration of global asset managers, banks, and wealth platforms makes it possible to test tokenisation across the full value chain, including issuance, distribution, servicing, and settlement, observes Justin Christopher, head of Asia at Calastone. “Crucially, Singapore understands tokenisation isn’t about experimenting with technology; it’s about building efficient, cross-border market infrastructure,” he says. “This pragmatic mindset has kept the focus on real outcomes.” The ecosystem works because policymakers, banks, asset managers, and fintechs sit at the same table and move from whitepaper to pilot quickly. There is also deep capital markets expertise, which means tokenisation is approached as market infrastructure reform rather than crypto speculation. That is the view of Alvin Chia, head of digital assets innovation Asia Pacific for Northern Trust, who agrees that Singapore understands that interoperability and cross-border use cases rather than domestic scale alone will define success. Regulatory Support and Collaboration Singapore’s leadership in asset tokenisation reflects a deliberate push to modernise capital markets infrastructure, agrees Huan Kiat, fintech director at PhillipCapital. “The MAS has created space for experimentation while maintaining strong regulatory guardrails, which has given market participants confidence to test real-world use cases,” he adds. “At the same time, Singapore’s ecosystem of banks, asset managers, and fintech firms has been willing to collaborate on pilots involving real assets and real capital.” Efficiency and Adoption Tokenisation exists to improve market infrastructure rather than chase temperamental price swings, as the ecosystem is compact and decision-makers are accessible. “Because of this, pilot programmes can move into production relatively quickly and adoption across the board becomes easier,” suggests Chetan Karkhanis, SVP, digital asset partnership development at Franklin Templeton. The high level of crypto asset activity across Asia has translated into a deeper institutional comfort with blockchain‑based products among investors, founders, and financial firms, adds Duncan Trenholme, managing director, TP ICAP Fusion Digital Assets. “At the same time, Singapore’s position as a global financial hub gives it the kind of ecosystem where new market plumbing can be tested at scale rather than in isolation,” he says. Varied Adoption Across Asset Classes The broad scope of applications and fragmentation of models/systems means that the pace of adoption for tokenisation differs for each financial asset, notes Hubert Grignon Dumoulin, digital assets senior expert at CACEIS. “The biggest and most obvious use case is stablecoins (tokenisation of fiat money), followed by intra-day repo operations with issuance of non-native securities tokens representing custody positions of government bonds and short-term papers,” he says. Scaling Challenges and Interoperability According to Danny Chong, co-chair of the Digital Assets Association Singapore, the path to scaling tokenisation rests on overcoming the adoption gap, specifically the challenge of achieving interoperability across networks and harmonising global regulatory standards. “The focus must shift toward democratising access through frameworks that reduce operational complexity, ensuring that the next wave of financial innovation delivers efficiency and liquidity for both institutional and retail participants,” he says. The biggest constraint is not technology—it is aligning legal finality, accounting treatment, and regulatory clarity across jurisdictions so institutions can commit balance sheets at scale, says Chia. Liquidity is another hurdle, because tokenised assets must plug into existing distribution and collateral frameworks rather than operate in isolated pools. Operationally, firms need robust custody, lifecycle servicing, and risk controls that mirror traditional markets. Ankur Kanwar, head of transaction banking & cash management, Singapore and ASEAN, and global head of cash structured solutions development, Standard Chartered, agrees that the challenges are less about the availability of the technology and more about institutional and structural factors. “Variations in regulatory frameworks, the high friction across settlement infrastructures, and limited adoption of digital trade solutions and standards can all affect the scalability of tokenisation,” he says. “As tokenisation scales, cybersecurity risks and operational resilience will also become increasingly important considerations, and the long-term risks need to be carefully managed.” Market Awareness and Education Client adoption, demand, and uptake by traditional incumbents are not fully there yet, and education and awareness are also not fully at scale, as cryptocurrencies, virtual native assets, and tokenised products are all lumped into one definition, in some cases preventing meaningful mass adoption and understanding, reckons Karkhanis. Risk Management in Tokenised Markets As more lifecycle logic, margining, and settlement migrate into smart contracts reliant on external data feeds, the system also inherits new points of failure, warns Trenholme. “Traditional markets are slow, but latency often functions as a circuit breaker,” he explains. “In tokenised markets, an inaccurate oracle print or flawed contract can propagate instantly—so building resilience through standards, safeguards, and fail‑safe architecture is as important as improving efficiency.” Interoperability is another constraint. Markets will ultimately require ‘write once, run anywhere’ infrastructure so assets can move seamlessly across public and permissioned networks. Christopher notes that tokenised assets must plug seamlessly into custody, administration, compliance, and reporting frameworks, and that institutions will not compromise on governance, auditability, or investor protection. “Without established connectivity between issuers and distributors, tokenised products remain niche,” he adds. “Real adoption requires infrastructure allowing assets to move safely and efficiently across established and digital-native venues.” Kiat cautions that scaling tokenisation remains complex, and while the underlying technology can enhance settlement efficiency and programmability, adoption depends on more than just technical capability. “Interoperability across platforms, liquidity depth, custody arrangements, and cross-border regulatory alignment all need to evolve in parallel,” he concludes. “Secondary market readiness will also be critical, as tokenised assets require reliable distribution channels and consistent two-way liquidity for investors to enter and exit with confidence.” This article was written by Paul Golden at www.financemagnates.com.

GlobalBlock, part of the GCEX Group, has launched its UK crypto offering. The service provides professional clients with access to crypto trading, portfolio tools and settlement solutions under the UK’s financial promotions regime. GCEX Group acquired GlobalBlock last year to expand the digital prime broker’s reach into wealth management for high-net-worth clients. The acquisition moved GCEX beyond its traditional over-the-counter trading business into managing digital assets for affluent investors. In Wednesday's announcement, the digital prime broker said the latest move would help it combine its regulatory licenses in the UK, Denmark and Dubai with GlobalBlock’s established crypto-focused client base. FCA Approval and Regulatory Scope “Having GlobalBlock's UK financial promotions approved by Archax, alongside our MiCA authorisation, VARA licence and FCA registration for FX and CFDs, reflects the multi-jurisdictional regulatory framework within which different GCEX Group entities operate,” commented Lars Holst, the Founder and CEO of GCEX Group. Keep reading: GCEX Group Buys GlobalBlock to Expand Wealth Management Services Before the acquisition, GlobalBlock, co-founded by David Thomas, had carved out a niche serving wealthy individuals seeking direct crypto exposure. The firm offered AI-driven fund management tools, including its GB10 portfolio tracking the top ten cryptocurrencies by market capitalization, and provided customized trading strategies through its mobile app. Join the inaugural Finance Magnates Singapore Summit 2026 , which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC. Commenting about the move Thomas said: “Backed by GCEX Group’s depth of relationships, liquidity and infrastructure, GlobalBlock can now deliver that proposition at scale, within a framework designed to meet UK financial promotions requirements and supported by GCEX Group’s regulated entities and controls in relevant jurisdictions.” Expansion Under GCEX Integration The FCA-authorized firm Archax Limited approved GlobalBlock’s crypto asset financial promotions, allowing the company to communicate its services to UK audiences. While crypto assets themselves remain unregulated in the UK, this approval ensures GlobalBlock operates within the FCA’s promotion rules. Since the acquisition, GCEX has been expanding its commodities and digital assets shelf with a gold-focused push. It added tokenized gold trading just two months after rolling out gold futures CFDs for institutional and professional clients. The prime brokerage now offers on-chain access to Pax Gold (PAXG) and Tether Gold (XAUt) against USDC, USDT and USD, alongside CFD equivalents that give price exposure to gold without requiring clients to hold the tokens directly. This article was written by Jared Kirui at www.financemagnates.com.

The Financial Conduct Authority has confirmed new rules aimed at improving how firms, including CFD brokers, report operational incidents and issues involving third-party providers. The regulator said the changes are designed to make reporting “clearer, more consistent, and easier for firms to follow.” The updated framework is intended to help authorities respond more quickly to disruptions such as cyber attacks or power outages. It also aims to give CFD brokers and other financial firms greater certainty on what to report and when. Join the inaugural Finance Magnates Singapore Summit 2026 , which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC. The move comes as cyber threats increase in frequency and complexity. The FCA said that in 2025, more than 40% of reported cyber incidents involved third parties. Recent disruptions, including outages affecting services linked to Cloudflare and Amazon Web Services, have highlighted the sector’s reliance on external providers. Single Portal Introduced for Reporting Requirements The FCA said firms have not always reported incidents consistently and industry participants requested clearer guidance. In response, the regulator launched a consultation in December 2024 and refined rules to reduce burden while ensuring key information is received early. Under the new framework, the FCA, the Prudential Regulation Authority, and the Bank of England will operate a single reporting system. Most directly supervised firms can submit short-form reports, with clearer guidance on thresholds, definitions, and responsibilities, and duplicative requirements have been removed for payment service providers and credit rating agencies. Cyber and Third-Party Risks Monitored Mark Francis said “resilience is being tested like never before,” noting “growing cyber threats” and firms’ increasing reliance on third parties. He added the changes give “clearer rules and practical guidance” and help the FCA “spot risks, share insights and strengthen sector-wide resilience.” The regulator said it will use reported data to identify trends and share insights with the industry. Where incidents involve third-party providers, the information will help assess supply chain risks, highlight the most exposed services, and identify potential critical third parties within the UK financial system. Guidance and Implementation Timeline Alongside the rules, the FCA has published finalised guidance on incident and third-party reporting, including examples, thresholds, and form instructions. Firms, including CFD brokers, have 12 months to prepare before the rules take effect on 18 March 2027. This article was written by Tareq Sikder at www.financemagnates.com.

The SEC has clarified its position on how crypto assets should be classified. For brokers, that clarity comes with a new layer of responsibility. SEC Chairman Paul Atkins presented the long-awaited token taxonomy, developed in coordination with the CFTC. The new rules confirm that tokens meeting the definition of investment contracts remain subject to securities regulation, while other categories, such as payment stablecoins, digital commodities, and collectibles, fall outside securities rules. For much of the brokerage industry, this framework defines where brokers can participate without triggering full securities rules . But the guidance also shifts how risk is managed. After more than a decade of uncertainty, this interpretation will provide market participants with a clear understanding of how the SEC treats crypto assets under federal securities laws.This is what regulatory agencies are supposed to do: draw clear lines in clear terms. https://t.co/wij5cA7N2i — Paul Atkins (@SECPaulSAtkins) March 17, 2026 From Legal Uncertainty to Operational Responsibility For years, the main risk for brokers was unpredictability. A token could be listed and later reclassified, exposing firms to enforcement action. That risk has now moved into day-to-day operations. The SEC made clear that a token’s status can change depending on how it is marketed and used. Join the inaugural Finance Magnates Singapore Summit 2026 , which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC. An asset initially treated as a non-security may fall under securities rules if it is presented as part of an investment offering with an expectation of profit. This means classification is no longer fixed. A token’s regulatory status can evolve as its ecosystem develops or as its positioning changes. In practice, this turns classification into a continuous process rather than a one-time listing decision. Brokers will need to monitor how assets are used and be able to explain their classification if regulators question it. Safe Harbor Raises the Stakes The proposed four-year “safe harbor” for crypto startups adds another layer. The idea is to allow projects to launch and raise capital under lighter requirements for a defined period, provided they meet certain conditions. If implemented, this could increase the volume of new token issuance. As Atkins framed it: “Such a safe harbor would provide crypto innovators bespoke pathways to raise capital in the US while providing appropriate investor protections.” For brokers, that means more assets entering the market at an earlier stage, when classification is less settled. Participation in such offerings may also require closer tracking of how projects evolve over time. If a token later meets the definition of a security, earlier assumptions may come under review. A Shift in Where Risk Sits The SEC’s approach gives the market more structure. It also changes where decisions are made. Previously, much of the uncertainty sat with regulators. Now, more of it sits with market participants. Brokers will have to move from reacting to regulatory action toward making and defending classification decisions in real time. The rules are clearer. The margin for error may be narrower. This article was written by Tanya Chepkova at www.financemagnates.com.

Trading 212, an early disruptor of zero-commission trading in the UK and Europe, has secured authorisation from the Financial Conduct Authority (FCA) to offer self-invested personal pensions (SIPPs). The expansion in the trading platforms’ product suite has been some time in the making. According to the Financial Times, the FCA had granted approval in February 2026. Yet, Trading 212 had indicated as early as April 2020 on its community forum that it intended to launch such accounts within a year. The Do-It-Yourself Pension Boom SIPPs, a flexible form of pension that allows individuals to choose and manage their own investments, have become an increasingly popular alternative to traditional, provider-led retirement plans. In the UK alone, industry estimates suggest more than 6.5 million users collectively manage some £650 billion assets in SIPPs by late 2025. Join the inaugural Finance Magnates Singapore Summit 2026 , which will bring together brokers, fintechs, banks, EMIs, wealth managers, and hedge funds across APAC. Competitors have taken note. CMC Markets, for instance, introduced its own offering for the UK market through CMC Invest, its equities platform, in 2024. A similar trend is evident elsewhere in Europe. In Poland, tax-advantaged retirement wrappers such as IKE (Indywidualne Konto Emerytalne) and IKZE (Indywidualne Konto Zabezpieczenia Emerytalnego) have attracted growing interest. XTB, a retail broker, added 63,500 accounts in December 2025 alone , bringing its total to over 820,000 – roughly a third of all securities accounts registered with the country’s central depository. The surge was driven in part by intensified marketing of these retirement products. Trading 212 Is Pushing the Crypto Envelope Trading 212’s expansion into SIPPs also follows a recent brush with the UK regulator . Earlier in 2026, it ran into difficulty after the FCA found it had offered crypto exchange-traded notes (ETNs) without proper authorisation. The company subsequently applied for, and obtained, the necessary permissions. ETNs – debt instruments linked to the performance of underlying assets – were previously barred from inclusion in SIPPs, but the regulator reversed that stance in October 2025. Meanwhile, the trading platform has already moved to expand its crypto footprint. In October 2025, it introduced crypto trading via its Cypriot entity , established the previous year under a CASP licence from the local regulator. For all its geographic spread, though, the UK remains central to the company’s business. In 2024, Trading 212 reported a net profit of £43.7 million on revenues of £194.1million, with its UK operations contributing £150 million. This article was written by Adonis Adoni at www.financemagnates.com.

The UK unemployment rate was unchanged in the latest three-month period, while employment rose and wage growth slowed, according to data released by the Office for National Statistics on Thursday. In the three months to January, the unemployment rate stood at 5.2%, in line with the previous three-month period and slightly below FXStreet-cited market consensus of 5.3%. The employment rate rose by 0.2 percentage point to 75.1%, as employment rose by 84,000 over the three-month period, ahead of expectations for a 52,000 increase. The economic inactivity rate fell by 0.3 percentage point to 20.7%. Average earnings growth showed signs of cooling. Regular pay, excluding bonuses, rose 3.8% year-on-year in the three months to January, slowing from 4.1% previously and below market expectations of 4.0%. Including bonuses, average earnings increased 3.9%, in line with forecasts but down from 4.2% in the prior period. The claimant count increased by 24,700 in February, below expectations for a 25,800 rise but sharply higher than January’s 4,700 increase. The claimant count rate ticked up to 4.4% from 4.3%. By Eva Castanedo, Alliance News reporter Comments and questions to newsroom@alliancenews.com Copyright 2026 Alliance News Ltd. All Rights Reserved.