Equiti
Group has signed on TraderEvolution Global as its trading platform provider,
bringing in new technology that lets the fintech company add asset classes and
speed up trade execution across its international operations.
Equiti Adds
TraderEvolution Engine
The
Dubai-based firm says the arrangement will open up more products for clients
and smooth out back-end operations. TraderEvolution’s system connects to
multiple global exchanges and works with different front-end interfaces,
letting Equiti customize what traders see without rebuilding core
infrastructure.
“This
partnership with TraderEvolution aligns with our ambition to widen the product
range and market access available to our clients,” said Husam Al Kurdi,
who runs Equiti’s Cyprus entity.
TraderEvolution
CEO Roman Nalivayko added brokers are increasingly looking for platforms that
handle multiple asset types without forcing clients into a single interface.
“TraderEvolution’s multi-asset strengths and back-end-first architecture
give brokers unparalleled control and flexibility,” he said.
Revenue Growth Hasn’t
Translated to Profits
The deal
comes as Equiti’s UK subsidiary faces pressure on margins. Equiti Capital UK
Limited saw profit drop 52% to $530,000 in its most recent annual report, even
as revenue ticked up 4% to $32.2 million. Operating expenses jumped 10% to
$31.8 million, with legal fees more than quadrupling and compliance costs
staying elevated under Financial Conduct Authority oversight.
The UK unit
blamed higher spending on quantitative analysis tools and regulatory
requirements. Legal and professional expenses hit $4.1 million, up from
$954,490 the year before.
Equiti paid
a $7 million dividend to shareholders after its most recent fiscal year,
despite the profit decline at its UK arm. The company held $39.4 million in net
assets, up slightly from $38.9 million the prior year.
Management Shuffle
Preceded Platform Deal
Equiti
promoted three executives to its C-suite earlier this year as part of what CEO
Iskandar Najjar described as an effort to stay competitive with larger rivals.
Sartaj Singh moved up to chief technology officer after joining in December
2023 to overhaul trading platforms. Rick Fulton became chief risk and audit
officer, while Sean Hong took over as CFO.
The company
operates under licenses in the UK, UAE and Cyprus, serving retail and
institutional clients across Africa, Asia, Europe and the Middle East. It
competes with firms like IG Group and Plus500 in retail trading while also
targeting professional investors.
TraderEvolution
has been adding integration partners to widen its broker network. The platform
provider announced a tie-up with TradingView earlier last year, letting brokers
offer that charting service’s interface to clients. TradingView says it has more
than 70 million users globally.
This article was written by Damian Chmiel at www.financemagnates.com.
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