The companies, products and regulatory developments shaping the broker industry.
Reading the SFC’s consultation conclusions against its FAQ shows a two-statute perimeter, six-month delayed commencement, and a territorial limitation obscured by generic warnings about unlicensed platforms.
ASIC’s corrected expiry date, two overlapping investor-remediation figures and a new digital-settlement proposal show why brokers must distinguish consultation, current obligations and established customer repayments.
Reconstructing Flow Traders' Q2-to-Q3 accounts locates the income decline in traditional markets and shows how a €20.4m reduction in variable employee costs cushioned higher fixed costs.
Schwab Crypto now lists five tokens at a disclosed 0.75% trade charge; the bank-affiliate product is not FDIC-insured or SIPC-protected.
The $62.5m realised gain equalled 61.9% of 2024 EBITDA. The 2025 report puts adjusted net revenue at $108m, up 1%, while separating the remaining token inventory from cash proceeds.
Bullish’s filed accounts show why gross digital-asset sales cannot be read as ordinary revenue: paired inventory cost leaves a 4.76-basis-point difference before fees and fair-value movements.
WisdomTree’s Q3 disclosure puts fast-growing on-chain assets at approximately $1.27bn versus a $171bn overall business, exposing the distance between a new distribution channel and the core franchise.
Galaxy’s quarter combined a treasury-led earnings result with project debt larger than reported group equity. The figures do not prove distress, but they reveal a material mismatch between current profit sources, capital allocation and future infrastructure obligations.
Broadridge moved from a $45.8m digital-asset gain to a $40.2m loss, an $86m swing larger than the decline in GAAP net earnings. Separately, an $18m postage pass-through supplied about 23% of revenue growth.
Komainu reports completed transfers into and out of a custody environment with FAB, distinct from potential future credit backed by those assets.
The exchange now lets futures users submit two to ten staggered limit orders from one web form; mobile support is scheduled for a later app release.
A newly announced banking agreement is already operational for Capital Vault affiliates in Cyprus and the UAE, covering fiat settlement and client-money services.
The ADGM approval belongs to a specified fund-management subsidiary and must not be confused with a licence for all Animoca group crypto or brokerage activities.
The firm’s 5 November launch and the regulator’s public register show the difference between a digital-asset advisory permission and unrestricted banking or exchange services.
The bank says the custody connection is operational and its institutional financing capabilities are available, while it works toward initial financing transactions.