In case you missed it

Maria Nikolova

FinanceFeeds presents the top five industry news stories of the week, so that you can catch up in case you missed anything.

One more week of January 2017 is already behind us and in case you are worried you might have missed anything from the fintech and Forex industry developments, FinanceFeeds provides you with a brief summary of our top five articles from the past week.

Shanghai annual FX industry conference

FinanceFeeds’ CEO Andrew Saks-McLeod provided exclusive reports from the Shanghai annual FX industry conference, which took place on January 14-15, 2017, at the prestigious Renaissance Zhongshan Park Hotel in Shanghai. YOCA, in conjunction with FinanceFeeds, hosted the conference, focusing on institutional, retail and prime brokerage, as well as technology provision, for the Chinese FX sector.

FSCS indicates £378m levy for fin firms

On January 16, 2017, the Financial Services Compensation Scheme (FSCS) published its Plan and Budget for 2017/18, announcing that it expects to levy the financial services industry industry £378 million, compared to £401 million in 2016/17. After am increase in claims in the current year, for next year, the FSCS forecasts that the overall number of new claims will drop.

Divisa’s CEO speaks about $100m investment

Mushegh Tovmasyan, CEO, Divisa Capital, spoke to FinanceFeeds after his company secured a $100 million investment. In the interview, Mr Tovmasyan explained: “The larger balance sheet will allow us to increase our access to liquidity via Prime Brokerage & Bilateral relationships and pass it downstream. It will also allow us to increase market penetration due to larger market appeal”.

New York DFS issues license to Coinbase

On January 17, 2017, the The New York State Department of Financial Services (DFS) issued a virtual currency and a money transmitter license to Coinbase. DFS has so far given its nod of approval to five firms for virtual currency charters or licenses. In addition to Coinbase, DFS has awarded licenses to XRP II and Circle Internet Financial, as well as charters to Gemini Trust Company and itBit Trust Company.

Richard Elston from CMC Markets talks prime of prime

In an interview with FinanceFeeds, which encompasses various topics related to the prime-of-prime space, Richard Elston, Head of Institutional, CMC Markets, provides a profound insight into what’s 2017 going to be like for the PB segment. Mr Elston talks about the need to define better the prime of prime space; the importance of pricing transparency for CMC Markets, as well as the potential effects of Donald Trump’ assuming his role as a US president.

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Digital Assets

BlackRock digs further into crypto with metaverse ETF

BlackRock, the world’s largest asset manager with almost $10 trillion in AUM, is set to launch a new metaverse ETF to help investors securely monetize on the booming immersive version of the internet.

Digital Assets

Binance wins license in New Zealand as rival Huobi shutters derivatives

Binance, the world’s largest crypto exchange by traded volume, has obtained licenses to operate in New Zealand, even after rival Huobi shutdown derivatives trading last month due to concerns about regulations.

Retail FX

Hong Kong busts perpetrators of ‘ramp and dump’ scam

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has charged thirteen suspects of market manipulation in a joint operation with the local police.

Institutional FX

TradingView integrates market data from German Tradegate exchange

TradingView announced that it ‎has increased data coverage to allow its users to receive information from ‎and get free access to the intra-day and tick data from Tradegate Exchange.

Retail FX

Spotware Systems introduces Custom Push Notifications for cTrader mobile apps

Spotware Systems, a technology provider for the electronic trading industry, is introducing a new push notification feature to alert mobile users of price swings and market fluctuations through their cTrader app.

Market News

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Sterling dominated the headlines last week, as there were concerns the UK government might struggle to service its debt.

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DBS deploys Nasdaq Trade Surveillance

“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure.”

Industry News

SEC charges Justin Costello and David Ferraro for securities fraud and posing as billionaire veteran

The Securities and Exchange Commission charged Cannabis executive Justin Costello and David Ferraro, an associate of Costello’s, for promoting the stock of several microcap companies on social media without disclosing their own simultaneous stock sales as market prices rose.