BidX Markets has changed its name to Multi Asset Solutions, effective February 28, 2024。The London-based liquidity solutions provider has officially changed its name to Multi Asset Solutions Limited, according to a filing with the UK government.。

BidX Markets offers customized liquidity, connectivity and distribution services for brokers, asset managers and funds。The company serves a wide range of clients in the financial markets, including professional traders and well-known brokers.。

From the BidX market to multi-asset solutions

Last year, BidX Markets launched a review of uninvested cash balances up to 5.1% interest rate discount, with the highest interest rates in USD and GBP。This offer allows customers to earn interest by allocating idle funds to interest-earning accounts。Finance Magnates has contacted BidX Markets for comment and will update this article upon receiving feedback。

According to Finance Magnates, the company's CEO Simon Blackledge highlighted the opportunity for customers to optimize their cash resources and seize market opportunities.。

The timing of BidX's announcement has raised questions about the regulatory impact, particularly in light of warnings from the UK's Financial Conduct Authority (FCA) about the practice of "double withdrawals."。

Regulatory impact

The FCA has directed investment platforms to address practices such as retaining interest on cash balances and charging extra fees, highlighting a regulatory review of the UK financial sector.。

As a London-based company regulated by the FCA, BidX Markets responded promptly to these regulations to ensure compliance and transparency with its products.。Focus on foreign exchange Foreign exchange or foreign exchange is the act of converting one country's currency into another..Read this terminology, CFD trading and spread trading services, BidX aims to expand its market share and provide value to institutional and professional clients.。

Recently, the company appointed Liam Bonfield as its new chief financial officer.。In his new role, Bonfield will oversee financial planning, reporting and analysis at BidX Markets.。Previously, he served as chief financial officer of Valutrades.。

Meanwhile, BidX Markets reports revenue growth of 253% in FY2023。The company's annual revenue during this period reached an impressive £1,046,768.。BidX Markets reported pre-tax profit of £35,566, a marked improvement from the previous year。