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HF Markets’ Alex Stefanidis Discusses FMAS:24 and the Potential in Africa

HF Markets’ Alex Stefanidis Discusses FMAS:24 and the Potential in Africa

The Finance Magnates Africa Summit (FMAS:24) will be here in less than two weeks. Ahead of the event, FM spoke with Alex Stefanidis, Senior Business Development Executive at HF Markets. In this full length interview he gives his take on the upcoming event as well as the current playing field in Africa and HF Markets’ prospects in the region.

Are you excited for FMAS:24 and how do you feel your company can directly benefit from attending an event such as this in Africa

As a Representative of HFM in South Africa, I am incredibly excited for FMAS:24. This event presents a unique opportunity for our company to connect with industry leaders, traders, and partners in the African market.

We believe that attending an event of this caliber allows us to showcase our commitment to empowering traders, offering innovative solutions, and providing unparalleled support to our clients. By participating in FMAS:24, we aim to strengthen our presence in Africa, forge new partnerships, and explore growth opportunities in the region.

FMAS is returning to Sandton City for its second year. What are you hoping to see or get out of this year’s event?

FMAS returning to Sandton City for its second year is a testament to the success and significance of this event. This year, we are eager to build upon the momentum of our participation in FMAS:23 and further solidify our position as a leading broker in the African market.

We anticipate engaging with a diverse range of participants, attending insightful sessions, and fostering meaningful connections that drive mutual success. We look forward to leveraging the platform provided by FMAS:24 to showcase our latest offerings, share industry insights, and demonstrate our commitment to excellence in the financial services sector.

Many brokers and brands have made the move to Africa amid the continent’s hype, size, and overall potential. Does this perspective align with your company’s goals in 2024 or beyond and is this excitement warranted?

At HFM, we recognise the immense potential and growth opportunities that the African market presents. As part of our long-term strategy, expanding our presence in Africa aligns perfectly with our company’s goals for 2024 and beyond. We are committed to serving the needs of traders across the continent by offering cutting-edge technology, comprehensive education, and personalised support.

The excitement surrounding Africa’s growth trajectory is indeed warranted, and we are enthusiastic about contributing to and benefiting from this dynamic market landscape.

FMAS:24 will be drawing the biggest brands as well as regional and local providers across multiple industries. How does your company plan to stand out in the crowd this year?

To stand out in the crowd at FMAS:24, HFM plans to leverage our unique strengths and value propositions. We differentiate ourselves through our unwavering commitment to exceptional customer service, comprehensive education, and our client-centric approach.

Our goal is to showcase our innovative trading tools, highlight our dedication to empowering traders to have a profitable trading journey, and demonstrate our ability to deliver results. Through engaging presentations, interactive demonstrations, and personalised interactions, we aim to leave a lasting impression and solidify our position as a trusted partner in the financial services industry. In addition, we have a few very special surprises, gifts and business opportunities to participants of FMAS:24 that will visit us on our booth (booth 28)!

The retail industry continues to see sweeping changes, necessitating different strategies to chart a course forward. Given this uncertainty, how is your company built to navigate any industry headwinds in 2024 or what techniques do you feel are the most important looking ahead?

The retail industry is indeed experiencing significant changes, and adaptability is key to navigating these challenges. At HFM, we are well-equipped to navigate industry headwinds by staying agile, responsive, and focused on meeting the evolving needs of our clients. We continuously invest in technology, research, and talent to stay ahead of the curve and anticipate market trends.

Additionally, we prioritise transparency, integrity, and compliance in all our operations, ensuring that we maintain trust and credibility with our clients. Looking ahead, we believe that a combination of innovation, adaptability, and client-centricity will be crucial in charting a successful course forward in 2024 and beyond.

This article was written by Finance Magnates Staff at www.financemagnates.com.

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ICYMI – Morgan Stanley expect three Fed rate cuts this year! Starting in September.

ICYMI – Morgan Stanley expect three Fed rate cuts this year! Starting in September.

Morgan Stanley say they “remain bullish on our call for three 25bp rate cuts this year”. Remain bullish? OK then.

They expect the first Federal Open Market Committee (FOMC) cut in September. MS’ previous forecast was for July.

MS say the reason for the delay in the first cut is:

  • given the lack of progress in recent months it will take a bit longer for the FOMC to gain confidence to take the first step

Wow … again.

MS is expecting rate cuts from the Fed to come tumbling in at the final three meetings of the year. Merry Christmas.

This article was written by Eamonn Sheridan at www.forexlive.com.

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A mixed close for US stock indices today

A mixed close for US stock indices today

The major US stock indices are closing with mixed results. The Nasdaq index close modestly lower, the Dow and the S&P closed with modest gains on the day.

A summary of the closing levels shows:

  • Dow Industrial Average average rose 31.99 points or 0.08% at 38884.27
  • S&P index rose 6.8 points or 0.13% have 5187.71
  • NASDAQ index fell -16.69 points or -0.10% at 16332.56

The small-cap Russell 2000 gain 3.97 points for 0.19% at 2064.64.

  • Nvidia shares fell -$15.86 or -1.72% to $905.54 as investors reacted to potential competition from Apple in chip-making.
  • Apple shares edged higher by $0.69 or 0.38% at $182.40
  • Meta Platforms shares rose $2.56 or 0.55% at 468.24
  • Alphabet shares rose $3.15 or 1.87% at $171.25
  • Tesla shares fell $-6.95 or -3.76% at $177.81.

After the close:

  • Lyft reported earnings of $0.15 better than the $0.03 estimate. Revenues also beat expectations at $1.28 billion versus expected $1.16 billion. Shares are currently up $0.46 or 2.77% at $17.10.
  • Wynn resorts reported EPS of $1.59 versus $1.27 expected. Revenues also beat $1.86 billion versus $1.79 billion expected. Shares of Wynn are trading up $2.33 or 2.40%.
  • Rivian reported earnings-per-share $-1.24 versus expected $-1.17. Revenues came in and $1.2 billion versus $1.18 billion. Shares are trading down $0.18 or -1.76%

This article was written by Greg Michalowski at www.forexlive.com.

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The Age of the Machines: Self-Checkouts Get Schooled in Age Verification

The Age of the Machines: Self-Checkouts Get Schooled in Age Verification

The once futuristic
scene of robots managing our every need might still be confined to science
fiction, but a corner of that vision is quietly unfolding in the utilitarian
world of self-checkout kiosks. Diebold Nixdorf, a tech giant with its fingers
in ATMs and point-of-sale systems, is
piloting a new AI-powered system
that promises to streamline the process of
buying age-restricted items like alcohol at these unmanned stations.

This innovation cuts
through the familiar tedium of self-checkout and having to awkwardly
wave an ID at a harried store employee hovering nearby. Instead, the new
system employs facial recognition technology – or, more accurately, a
sophisticated cousin – to analyze a customer’s face and estimate their age. If
the AI deems you worthy (read: old enough), the purchase sails through.

But before you start
picturing Big Brother scanning your grocery haul, Diebold Nixdorf assures us
this technology treads lightly on privacy concerns. They claim the system
doesn’t employ true facial recognition, which would involve creating a digital
map of your unique facial features. Instead, it uses a “smart-vision”
system that analyzes broad characteristics to make an age guess. Additionally,
the company assures us no customer data is stored – the age estimation happens
in real-time and disappears into the digital ether once complete.

While the efficiency
gains are undeniable, this foray into AI-powered age verification raises a host
of intriguing questions.

The first, and perhaps
most pressing, is one of accuracy. How well can a machine, trained on
who-knows-what dataset of faces, truly discern a 20-year-old from a
25-year-old?

Consider the gremlins
that already plague facial recognition software – its notorious bias against
people of color and certain ethnicities. Could a similar bias creep into this
age-guessing algorithm? A young woman with flawless skin might be mistaken for
a teenager, while a man with a weathered face could be flagged for a second
look by the AI bouncer.

The potential for such
errors, particularly when dealing with a product as age-restricted as alcohol,
is a concern. Imagine the frustration of being denied a bottle of celebratory
champagne because a machine thinks you haven’t reached the legal drinking age.
The convenience factor of self-checkout could quickly turn into a source of
embarrassment and inconvenience.

Then there’s the
question of trust.

While Diebold Nixdorf assures us their system prioritizes
privacy, the very act of surrendering your face to an algorithm for age
verification feels like a new frontier in data collection. Even if the company
claims they aren’t storing the information, the precedent it sets is a slippery
slope. Will this technology pave the way for even more intrusive data gathering
in the future?

This
push towards facial analysis for age verification at self-checkout kiosks
throws biometrics, the science of using unique physical characteristics for
identification, into sharp relief. The potential benefits
of this technology are clear. Faster checkouts, reduced reliance on overworked
store staff, and a smoother shopping experience are all attractive
propositions. But these advantages must be weighed against the potential
pitfalls – the accuracy concerns, the privacy questions, and the slippery slope
of data collection.

So,
while the convenience of a quick scan is undeniable, biometrics raise a host of
philosophical and ethical questions that extend far beyond the self-checkout
aisle.

One of the most concerning
aspects is the potential for a “surveillance creep.” As biometric
technology becomes more sophisticated and readily available, the lines between
identification and constant monitoring blur. Imagine a world where facial
recognition software not only verifies your age at the store but also tracks
your movements throughout the retail space, sending targeted advertising to
your phone based on your purchases and expressions. This level of intrusion
raises serious concerns about personal autonomy and the right to privacy in
public spaces.

Another question mark
hangs over the issue of bias.

Biometric algorithms, like any computer program,
are only as good as the data they’re trained on. If the training data is skewed
or incomplete, the algorithms can inherit these biases. This could lead to
situations where certain demographics are disproportionately flagged for
further verification, creating a discriminatory experience for some.

However, biometrics aren’t
all dystopian visions. When used responsibly and with clear ethical guidelines
in place, biometric technology can offer a layer of security and convenience.
For example, fingerprint scanners on smartphones provide secure access while
eliminating the need to remember complex passwords. The key lies in striking a
balance between technological advancement and the protection of our fundamental
rights.

Conclusion

Diebold Nixdorf’s
age-verification system is just one piece of this larger conversation. As we
move forward with biometrics, it’s crucial to have open discussions about the
trade-offs involved as we must ensure these advancements don’t come at the cost
of our privacy and fair treatment. Only then can we ensure that these powerful
tools serve humanity, not the other way around. The machines might be learning
to read faces, but we, the consumers, need to learn to read the fine print of
this technological evolution.

This article was written by Pedro Ferreira at www.financemagnates.com.

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