Najava
This announcement follows FTX’s recent spring investment in IEX, a New York-based stock exchange. It also comes a week after co-founder Sam Bankman-Fried acquired a minority stake in Robinhood, which already allows for both crypto and stock trading through its app. This acquisition made him the third-largest shareholder in Robinhood, sparking speculations of a potential full buyout. Robinhood’s shares, which initially focused on stock trading but saw strong demand for cryptocurrency, have been declining and hit an all-time low last week, approximately 77% below its IPO price from July 2021. This week, Robinhood unveiled plans for a more significant push into the crypto market.
The Trading Mechanism
FTX announced that it would offer its securities trading services via FTX Capital Markets, its broker-dealer, in partnership with Embed Clearing, a “white-label” brokerage service provider. FTX’s entry into stock trading coincides with its pursuit of authorization from the Commodity Futures Trading Commission, a U.S. derivatives regulator. The goal is to introduce automated risk management for leveraged futures trading, replacing tasks traditionally handled by brokers with technology.
Trgovanje bez provizije
Similar to most online brokerage platforms, FTX will allow users to trade without paying commissions. Additionally, there will be no fees for opening brokerage accounts or maintaining minimum balances. FTX clients will also have the option to fund their trading accounts using Circle’s USDC and other stablecoins, provided they are backed by Fiat currencies.
Get FTX
Initially, FTX will route all transactions through Nasdaq, but it will not accept payment for order flow, a controversial practice that involves directing customer trades to high-frequency traders in exchange for payments.
FTX intends to take a different approach from many other stock trading platforms, which typically rely on market data fees. While this approach may seem straightforward, it has drawn scrutiny from the U.S. Securities and Exchange Commission, especially during the meme stock trading frenzy involving GameStop, the well-known video game retailer.
FTX is expected to make further announcements regarding the platform’s launch. Market analysts, investors, and CryptoChipy are closely monitoring how this new initiative will impact FTX’s future. By the end of 2021, FTX had captured 4.5% of the crypto exchange market share, with trading volumes increasing by 500%, marking significant growth and events for the company.
natjecatelji
FTX U.S. joins fintech companies like SoFi, Public, and Block’s Cash App in offering both cryptocurrency and stock trading services. This sets it apart from other major competitors such as Binance and Coinbase, with Binance even ceasing its stock product last year.