Forex Trading

FX week in review: Saxo Bank pursues sale, FirstByt launch, Trivepro CEO leaves


What steps is Saxo Bank taking in pursuit of a sale of the company, following a failed attempt to go public?

Which former FX and CFDs industry CEO is behind the launch of new white label and broker solutions provider FirstByt?

Which executive moves were reported this past week involving Trivepro, FXCM, ATFX, Exinity, GCEX, and others?

Some of the most read and commented-on FX/CFD industry news stories to appear over the past seven days on FNG included:


Saxo Bank hiring investment bankers to explore sale. Copenhagen based Retail FX and CFDs broker Saxo Bank has invited investment banks to pitch for a role in helping to sell the company. It is expected that a sale process will begin later this year, depending on overall market (and company) conditions. The discussions at this stage range between pursuing an outright sale of the company, to the sale of a minority stake in Saxo Bank with a later avenue to provide liquidity to the company’s existing shareholders.

Exclusive: Former Admirals CEO Victor Gherbovet launches white label solutions provider FirstByt. FNG Exclusive… FNG has learned that Victor Gherbovet has launched a new SaaS solutions platform company serving both Brokerages and Exchanges, called FirstByt (website firstbyt.com). The newly launched company provides end-to-end solutions, ranging from white label options to legal support, multi-asset liquidity, technology, payments, compliance assistance, and marketing services. Victor Gherbovet worked at Estonia based Retail FX and CFDs broker Admirals for 13 years from 2008-2021, ending his tenure at Admirals as co-CEO.

Prop firm Stocknet Institute integrates SiRiX to bring advanced trading solutions to its traders. Prop trading firm Stocknet Institute has announced its latest partnership with trading solutions provider Leverate. This collaboration is aimed at enriching the trading experience of Stocknet Institute’s traders by integrating Leverate’s cutting-edge trading platform, SiRiX, into its platform. The incorporation of SiRiX into Stocknet Institute’s trading programs will offer traders an unparalleled opportunity to engage with a top-notch platform that enhances learning and trading strategies.

CFI launches Options trading on its multi-asset platform. Leading online trading provider CFI has announced the launch of Options trading on its Multi-Asset platform, providing investors with expanded opportunities and additional advanced trading features. With this addition, CFI clients can now access a wide range of options on U.S. securities, allowing traders to diversify their trading strategies further and optimize their investment portfolios with leading global stocks.

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

Siju Daniel

❑ ATFX hires FXCM exec Siju Daniel as Chief Commercial Officer.

Exclusive: Trivepro CEO Adam Dougall resigns.

❑ Options appoints James Hardcastle as VP Head of Sales, APAC.

Katina Messinis leaves Exinity for UAE Sales Director role at GCEX.

Exclusive: Exinity compliance head Simon Henry departs.

❑ ASIC names Greg Yanco as Interim CEO, replacing Warren Day.




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