The trading world may have continued to grind to a halt (or at least, a “slow”) in the last weeks of summer break, but there were plenty of executive moves in the Retail and Institutional FX world, as brokers positioned themselves for a late year push.

Which executive left CFI to become the new CEO at CySEC licensed app-focused broker Doto?

Who is the second executive in as many months to leave Edgewater Markets, and join ATFX?

Where did Admirals Management Board member Jens Chrzanowski leave to?

Answers to these questions, and a whole lot more, appeared first or exclusively this past week at FNG. Some of the most read and commented-on FX industry news stories to appear over the past seven days on FNG included:

Admirals posts record Revenues (€43M) and Profits (€24M) in 1H 2022. Estonia based Retail FX and CFDs broker Admirals has released its results for the first half of 2022, marking a significant turnaround from a lackluster 2021 at the company. Admirals Group AS, the ultimate parent company operating Admirals, posted Revenues of €43 million and Net Profits of €24 million in the first six months of 2022 – both records for a half-year period for the company. That followed a 2021 year which saw a 43% Revenue decline at Admirals. Indeed, Admirals brought in more revenue in the January-June 2022 period than it did in all of 2021 (€35.7 million).

Institutional matching platform FX HedgePool raises $8M Series A round. FX HedgePool, a startup providing a peer-to-peer matching platform for institutional foreign exchange transactions, has announced that it has raised $8 million in a Series A funding round. The round was led by Information Venture Partners (Information VP), with participation from Fidelity International Strategic Ventures (FISV) and NAventures, National Bank of Canada’s corporate venture capital arm. The company said that the investment will accelerate a multi-product strategy aimed at delivering further efficiencies for its growing network of investment managers and banks.

Institutional FX trading volumes continue summer slowdown, August -6%. In what has been somewhat of a wild year, some normalcy returned to the world of institutional FX trading in July and August 2022, with the sector seeing its typical summer slowdown in trading volumes. Following a very strong first half of the year for the leading FX ECNs, July saw a 5% decline and now August a 6% decline in institutional FX trading volumes. All the eFX firms surveyed by FNG reported a decline in August of between 3% and 10%, averaging as a group 6.4%.

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

❑ CFI COO Demetrios Zamboglou departs for CEO role at startup broker Doto.

❑ Exclusive: Jens Chrzanowski resigns from Admirals, joins XTB.

❑ Exclusive: Eurotrader adds Valutrades exec Rob Collins as Head of Trading.

❑ Exclusive: Eurotrader adds FinTech exec Mikahil Abdul Rahman as Head of Marketing.

❑ Exclusive: ATFX hires Edgewater exec Phil Muldoon as Director Institutional Sales.

❑ LSEG exec Martin Bradford joins FairXchange as COO.

❑ Invast Global hires BNY Mellon exec Cyrus Poon to head Prime Services.

❑ Exclusive: Former StoneX Europe head Nick Spencer-Skeen joins UAE CFDs broker APM Capital.

❑ BidX hires James Roddy as Head of Institutional Sales.

❑ Exclusive: Alla Darwish promoted to Managing Director MENA at ACY Securities.

❑ Exclusive: Eurotrader hires Exinity exec Martin Couper to head Compliance.

❑ Exclusive: Waleed Salah leaves OxSecurities to head MENA sales for AssetsFX.