Four-hour briefing
Fintech Briefing —
What changed in fintech over the last 4 hours
Top Stories
- Proprietary Trading Sees M&A, New Broker Offerings, and Profit Concentration
Dubai-based Global Solutions purchased MyForexFunds' brand assets, while CMC Markets introduced CMC Funded as a simulated prop trading programme distinct from its regulated brokerage. Additionally, data from iSAM Securities' Radar network showed the top 1% of winning retail clients generated 66.5% of total client profits.
- Distinct Demographics Reshape Consumer Financial and Spending Priorities
Elder millennials lead in hobby-related spending, while high-earning HENRYs are frequently allocating funds toward collectibles. For financial providers and merchants, assessing customer priorities provides more relevant insights than standard age brackets.
- Jay Clayton Expected to Be Appointed AI Czar
Reports indicate that Donald Trump is expected to appoint Jay Clayton as the new AI czar.
Sources
Finance Magnates, PYMNTS, Cointelegraph