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London-Based BidX Markets Rebrands as Multi Asset Solutions

BidX Markets has rebranded as 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 the
documents filed with the UK government.

BidX Markets offers tailored access to liquidity, connectivity, and distribution services for brokers, asset managers,
and funds. The company caters to a broad range of clients in the financial
markets, including professional traders and established brokers.

From BidX Markets to Multi Asset Solutions

Last year, BidX Markets unveiled an offer of up to
5.1% interest on uninvested cash balances, with the highest rates for USD and
GBP. This offer allows clients to earn interest by allocating idle funds into interest-bearing accounts.

The firm's CEO, Simon Blackledge, emphasized the
opportunity for clients to optimize their cash resources and seize market
opportunities, Finance Magnates reported.

The timing of BidX's announcement raised questions
about regulatory influence, especially in light of the UK's Financial Conduct
Authority (FCA) warning against "double dipping" practices.

Regulatory Implications

The FCA has directed investment platforms to address
contentious practices like retaining interest on cash balances and charging
additional fees, underscores regulatory scrutiny in the financial sector.

As a London-headquartered firm regulated by the FCA,
BidX Markets swiftly responded to regulatory dynamics, ensuring compliance and
transparency in its offerings. With a focus on forex, CFDs trading, and spread
betting services, BidX continues to expand its market presence and deliver
value to institutional and professional clients.

Recently, BidX Markets named Liam Bonfield as its
new Chief Finance Officer. In his new role, Bonfield will oversee the financial
planning, reporting, and analysis for BidX Markets. Bonfield, previously the
CFO at Valutrades, brings extensive financial expertise to BidX Markets.

BidX Markets reported a growth of 253% in revenue for the fiscal year 2023. The company's annual revenue reached an impressive £1,046,768 during this period. The company reported a pre-tax profit of £35,566, marking a significant improvement from the previous year.



This article was written by Jared Kirui at www.financemagnates.com.