Fintech PR
Global Securities Brokerage & Stock Exchange Services Market Size Expected to Reach $1.84 Trillion In 2023
*No Investment Advice Provided*
PALM BEACH, Fla., Nov. 30, 2023 /PRNewswire/ — Stock brokerage is a financial organization on the stock or commodity markets who buys and sells assets in the client’s best interest for which brokerage fee is charged. A stock exchange is a standardized and authorized marketplace where stockbrokers and traders can buy and sell stocks, bonds, and other securities. The services are offered through various modes, such as online and online modes. The various establishments involved are exclusive brokers, banks, investment firms, and other establishments. The securities brokerage and stock exchange services market consist of revenues earned by entities by acting as brokers in selling securities such as equities, bonds, commodities and derivatives. Securities brokerages represent customers in dealing with securities transactions on the trading floor/online platform of stock exchanges. The securities brokerages might sometimes act as a representative for both buyer and seller. This market excludes the advisory and investment activities of the brokerage firms. This market includes transaction charges levied by stock exchanges for trading on its trading floor/online platform to securities brokerages and other fees. It does not include the value of the funds invested in securities. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The rise in the use of AI for faster trade executions is the main driver of the market. A report from The Business Research Company projected that the global securities brokerage and stock exchange services market size grew from $1696.91 Billion in 2022 to $1844.31 Billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The market size of global securities brokerage and stock exchange services market is expected to grow to $2506.41 billion in 2027 at a CAGR of 8.0%. Mentioned in today’s coverage includes: EF Hutton, JPMorgan Chase & Co. (NYSE: JPM), Jefferies Financial Group Inc. (NYSE: JEF), Goldman Sachs (NYSE: GS), Bank of America Corporation (NYSE: BAC), Citigroup Inc. (NYSE: C).
The report added: “Securities brokerage companies are extensively using artificial intelligence for faster trade executions. Artificial intelligence refers to programming machines to enable them to work and react like humans. Most companies are using AI for algorithmic trading in stock brokerage. Algorithmic trading refers to turning a trading idea into an algorithmic trading strategy using an algorithm. The AI-enabled alternative trading system (ATS) helps in improving the speed of trade execution. North America was the largest region in the securities brokerage and stock exchange services market size in 2022. South America was the second largest region in the securities brokerage and stock exchange services.”
EF Hutton Completes Acquisition of Broker-Dealer Benchmark Investments, LLC – EF Hutton, an investment bank headquartered in New York, today announced the closing of the acquisition of its broker-dealer, Benchmark Investments, LLC, a provider of a range of financial services to institutional and retail clients.
The transaction closed on November 9, 2023, significantly expanding EF Hutton’s capabilities and leadership across public and private markets for its growing roster of clients, with all broker-dealer resources and operations to be held under the EF Hutton brand. Benchmark Investments, LLC name has been changed to “EF Hutton LLC.” Additional details of the transaction were not disclosed.
“This transformative acquisition is the next step in our evolution to help our clients’ ambitions prosper through a full spectrum of services,” said Joseph T. Rallo, Chief Executive Officer of EF Hutton. “Looking ahead, we are integrating broker-dealer operations and believe this transaction will enhance our current business lines with the capacity for larger deals and a broader client base, while also providing a platform to expand our business lines in the future. We continue to look for additional opportunities to bolster our services and strengthen our footprint, including the expansion of our retail business through our wealth management division,” concluded Rallo.
David W. Boral, President of EF Hutton, added, “Incorporating broker-dealer functions and services into the firm will bring a higher degree of streamlined operations and efficiency for our clients. This acquisition also provides us with additional independence that gives more control and transparency to the deal process from start to finish. Our improved end-to-end solutions will position clients for long-term success across IPOs, SPAC IPOs, follow-on offerings, secondary offerings, shelf takedowns, M&A, advisory, acquisition financings, pre-IPO financings, and more. We look forward to introducing middle market and emerging growth companies around the world to an expanded EF Hutton.” For more information on EF Hutton, please visit: https://efhutton.com/ef-hutton-news/
Other recent developments in the financial markets of note include:
JPMorgan Chase & Co. (NYSE: JPM) recently kicked off its second annual DEVUP, a firmwide software engineering conference designed for engineers by engineers. Launched in 2022, DEVUP is a one-of-a-kind technology innovation forum convening more than 500 software engineers, data scientists and other technologists from all 23 of the financial services firm’s Global Technology Centers for three days of programming that celebrate engineering excellence.
The agenda features wide-ranging discussions on cutting-edge research, interactive workshops, and hands-on experiences led by more than 150 speakers. Participants have the unique opportunity to showcase and learn skills, build connections with peers, and discuss new ways to implement emerging technologies at massive scale and speed at one of the world’s large financial institutions.
“In today’s dynamic technology landscape, the role of the software engineer – and the technologist more broadly – is undergoing a transformative shift. DEVUP is an opportunity to recognize JPMorgan Chase’s top software engineers, provide experiences for them to build their skills, and foster a sense of community – all with the aim of empowering them to continue driving innovation across our firm,” said Lori Beer, Global Chief Information Officer, JPMorgan Chase. “Already a beloved tradition among JPMorgan Chase’s technologists in its second year, DEVUP brings together our software engineers from across the world to explore opportunities for innovation and impact, and champion the broader firm’s technology-forward mindset.”
Bank of America Corporation (NYSE: BAC) Chair and Chief Executive Officer Brian Moynihan will participate in the Goldman Sachs 2023 US Financial Services Conference on Tuesday, December 5, at 9:20 a.m. ET. A live webcast of this event will be accessible through the Bank of America Investor Relations website at https://investor.bankofamerica.com.
Citigroup Inc. (NYSE: C) – Citibank is launching its first football promotional campaign in Singapore, giving its customers a once-in-a-lifetime opportunity to attend the prestigious UEFA Champions League Final live in London.
The global bank is the first in Singapore to partner Mastercard for the 2023/24 UEFA Champions League, responding to the passion points of its clients and the intense popularity of football in the region.
Regina Lim, Citibank Singapore Head of Credit Cards and Personal Loans, said: “Customers want a win-win relationship with a bank that understands and empowers them to pursue their passion. Given the immense following football has in Singapore, this campaign exemplifies our commitment to be the bank that gets our customers ahead and delivers exceptional value for them.
Jefferies Financial Group Inc. (NYSE: JEF) Richard Handler, CEO, and Brian Friedman, President recently released a statement regarding the firm’s Q3 Financial highlights.
“Our third quarter net revenues of $1.18 billion reflect an improving market environment. We are increasingly optimistic that we have come off the bottom of the cycle and that momentum in investment banking will continue.
“Investment Banking generated $645 million of net revenues, an increase of 28% from last quarter due to modestly improved mergers and acquisitions activity and a more receptive leveraged finance and new issue market, as the green shoots we mentioned last quarter have multiplied.”
“Our strategy during down cycles has always been to play offense by investing in our future. This is the main theme for us in 2023, made possible by our strong capital base and solid global brand and platform. The dislocation and changes in strategy among some of our competitors created distinct opportunity this year. As we will discuss during our upcoming Investor Day on October 16, 2023, we are adding outstanding new Managing Directors to our Investment Banking effort across the globe. We started 2023 with 299 Managing Directors in Investment Banking and expect to begin 2024 with over 360 total Managing Directors, an increase of 20%. The 360 Managing Directors would be up 70% from the 212 Investment Banking Managing Directors that wore the Jefferies’ jersey at the beginning of 2020.”
Goldman Sachs (NYSE: GS) recently recognized CEO of 6sense, Jason Zintak, as one of the Most Exceptional Entrepreneurs of 2023 at its Builders and Innovators Summit in Healdsburg, California. Goldman Sachs selected Zintak from multiple industries honored at the two-day event. Since Zintak joined 6sense in 2017, the company has grown astronomically by every measure: employee, customer, net revenue retention, and revenue growth. With a reputation for making smart moves, prioritizing people, and creating a culture of innovation, Zintak leads the company towards its mission to revolutionize the way B2B organizations create, manage and convert pipeline to revenue.
“To be recognized for entrepreneurship by Goldman Sachs is an incredible honor,” said Jason Zintak, 6sense CEO. “This recognition reflects the strength and passion of our team and our commitment to a growth mindset which fosters ongoing learning, curiosity and innovation. Our collective entrepreneurial spirit at 6sense started with our founders and leaders and continues today across the organization as a defining element of our success in delivering real value to our customers.”
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Fintech PR
President Emmerson Mnangagwa met this week with Zambia’s former Vice President and Special Envoy Enoch Kavindele to discuss SADC’s candidate for the AfDB
President Mnangagwa, who is SADC Chairperson, reaffirmed his own country’s and SADC’s enthusiastic support for Zambian candidate Sam Maimbo
LUSAKA, Zambia, Dec. 20, 2024 /PRNewswire/ — Special Envoy Kavindele released the following statement following the meeting:
“I am elated to witness the growing success and momentum of Sam Maimbo’s candidacy to become the next President of the African Development Bank. I am filled with gratitude to our friends across both SADC and COMESA for their continued support and good wishes.
Sam has garnered such wide consensus due to his being uniquely qualified to deliver the transformative change and empowerment our continent needs. Sam’s 30 years in development work is defined by driving outcomes, improving processes, and investing in people. The AfDB needs a hands-on leader who is laser focused on delivering results and who is unafraid of making tough decisions in order to best serve our continent. Sam is that leader. Sam has the track record and experience to drastically enhance the pace, scale, and impact of the Bank’s work in service of the people and governments of Africa.
Our region has a proud history of supporting fellow Southern Africans. For example, we all recall Lusaka’s role in hosting the African National Congress’ headquarters during the dark days of Apartheid oppression.
It therefore gives me no pleasure to observe my South African brothers, who have themselves leant on Zambia’s steadfast friendship over many decades, fail to rally behind both SADC and COMESA’s chosen candidate for the AfDB. Africa’s urgent economic development challenges demand transformational leadership at the AfDB, it is all of our responsibility to put forward the best candidate for the job. This is not the time or place for a government to act with narrow self-interest, we all must act in the continent’s and AfDB’s best interest.
I thank Sam Maimbo for his lifelong service to our entire continent, and I am eager to witness his enormous impact as President of the AfDB.”
LONDON, Dec. 20, 2024 /PRNewswire/ — Heimdal Security shares a practical holiday cybersecurity checklist, offering expert insights to help businesses safeguard against cyber threats this festive season.
With reduced staffing, remote work setups, and a surge in online shopping creating heightened vulnerabilities, this guide offers actionable tips to enhance business security.
Going beyond basic advice, the checklist also highlights the most common holiday scams and features videos showcasing real-life examples of Christmas-themed cyber scams and effective prevention strategies.
Key Tips to Protect Businesses This Holiday Season:
- Strengthen endpoints: Ensure devices are updated with antivirus and endpoint protection software; consider Endpoint Detection and Response (EDR) and application whitelisting.
- Prepare for phishing spikes: Train staff to identify suspicious emails, enforce robust email filters, and establish protocols for reporting unusual activity.
- Secure remote access: Mandate VPN usage, monitor unusual logins, and deactivate inactive accounts temporarily.
- Segment and shield networks: Isolate sensitive areas, deploy DNS security and advanced firewalls, and maintain full visibility over network traffic.
- Apply timely patches: Regularly update all systems and test patches in a controlled environment to minimize disruptions.
- Mitigate supply chain risks: Assess vendors thoroughly and limit their access to essential systems.
- Have a response plan ready: Tailor incident protocols for the holidays, create an on-call rotation for the IT team, and enable rapid action against suspicious activity.
“ Cybercriminals thrive on holiday distractions, but with proactive measures like phishing training, secure endpoints, and network segmentation, businesses can stay ahead of potential threats,” said Alex Panait, System Administrator at Heimdal Security.
Common Holiday Scams That Businesses Should Watch For:
Cybercriminals often tailor their tactics to exploit the festive season. The most common scams include:
- Spear phishing: Emails disguised as holiday bonuses or event invitations that steal credentials or spread malware.
- Malicious holiday E-Cards: Festive greetings that contain links deploying ransomware or spyware.
- Fake E-Commerce sites: Fraudulent websites offering discounts to steal payment information.
- Insider threats: Distracted or disgruntled employees mishandling or exploiting sensitive data.
- Corporate travel scams: Fake booking platforms targeting business travelers.
- Business email compromise (BEC): Fraudulent requests for urgent wire transfers during year-end financial rushes.
For more, read the full article here or watch the video on YouTube to see how these threats unfold and learn actionable prevention strategies.
About Heimdal:
Established in Copenhagen in 2014, Heimdal® empowers CISOs, security teams, and IT administrators to improve their security operations, reduce alert fatigue, and implement proactive measures through a unified command and control platform.
Heimdal’s award-winning cybersecurity solutions span the entire IT estate, addressing challenges from endpoint to network levels, including vulnerability management, privileged access, Zero Trust implementation, and ransomware prevention.
For further press information:
Madalina Popovici
Media Relations Manager
[email protected]
View original content:https://www.prnewswire.co.uk/news-releases/stay-cyber-safe-this-holiday-season-heimdals-checklist-for-business-security-302337465.html
Fintech PR
According to Tickmill survey, 3 in 10 Britons in economic difficulty: Purchasing power down 41% since 2004
The people who have the most problems are women (30%) and are between 35 and 49 years old (39%)
ROME, Dec. 20, 2024 /PRNewswire/ — The purchasing power in the UK has dropped by 41% over the last 20 years. Today, £100,000 left in a bank account since 2004 without being invested would now be worth £59,021.
This figure is one of the findings from a study conducted by Tickmill, an international online trading broker that compared the economic situation in the UK and the European Union through the infographic “Purchasing Power and Cost of Living: UK vs EU”.
The analysis reveals a slight decline of 0.4% in the UK’s purchasing power, which currently stands at £41,573. In contrast, the European Union has seen a modest rise of 0.1%, reaching £40,874.
Why is purchasing power declining in the UK? One key factor is the cost of living. If the UK were still part of the European Union, it would rank as the fifth most expensive country, behind Ireland, Luxembourg, Denmark, and the Netherlands.
Unsurprisingly, 3 in 10 Britons are struggling with the cost of living. Women (3 in 10, compared to 25% of men), those aged between 35 and 49 (4 in 10), households earning less than £15,000 (6 in 10), and single parents (1 in 2) are among the most affected groups.
Among UK nations, Northern Ireland is the hardest hit, with 34% of its population facing financial difficulties, followed by Wales (31%), England (28%), and Scotland (22%). In England, the North East has the highest percentage of people struggling, with 4 in 10 residents affected. Even in London, the high costs impact 1 in 4 adults.
In response to these challenges, Britons are making significant adjustments:
- 53% have cut back or delayed spending on smaller items like eating out, entertainment, subscriptions, clothing, toys, books, etc.;
- 52% have reduced household energy consumption;
- 48% have decreased their grocery spending;
- 41% have scaled back or postponed major expenditures, such as holidays, cars, and weddings;
- 26% are working longer hours, taking on overtime, or pursuing additional jobs to earn extra income.
The British also made changes on the financial side. One in four adults has been forced to dip into their savings or investments to cover daily expenses. Moreover, 44% have stopped saving or investing entirely or have reduced their savings and investments—a 4% increase compared to 2023.
The lack of investment is another critical factor contributing to the decline in purchasing power. It is estimated that 13 million UK residents hold £430 billion in cash deposits but do not invest. The reasons? Seventy-four percent say they cannot compare investment products effectively, and 43% are afraid of losing their money.
A lack of knowledge and fear are preventing many savers from taking advantage of an important opportunity: preserving or increasing their purchasing power in the long term.
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