In case you missed it
FinanceFeeds takes a look at the top five industry news stories of the week, allowing you to catch up in case you missed anything.
January is drawing closer to its end but the flood of interesting news is incessant at FinanceFeeds, with the last week full of new developments. In case you are concerned you might have missed anything from the fintech and Forex industry, FinanceFeeds provides you with a summary of our top five articles from the past week.
On Monday, Saxo Bank announced a new collaboration with Autochartist offering an integration of Autochartist’s tools into SaxoTraderGO. FinanceFeeds spoke to Kim Cramer Larsson, Product Manager & Technical Analyst at Saxo Bank, and Ilan Azbel, CEO of Autochartist, to provide its readers with details about the integration and the new capabilities available to traders using Saxo’s multi-asset proprietary trading platform.
After informing its affiliates of its intentions to no longer promote binary/digital 100 products, IG Group clarified its plans regarding binary options in an official announcement on Tuesday. Whereas the Sprints will not be available to new clients, they will still be available to current clients, the company said. The official position of the electronic trading giant concerning new regulations stays unchanged. IG notes that as it “continues to shift its strategic balance towards sophisticated trading and investing, Sprints no longer fits with the future direction of the business.”
IS Prime Risk Services Inc, the risk management unit of IS Prime, acquires the assets of North American risk management service providers for brokers Think Liquidity. On Wednesday, FinanceFeeds spoke to Raj Sitlani, Managing Partner at ISPrime in London, in order to explore the rationale behind the deal.
EUROPOL, the European Union’s federal law enforcement agency, joins the fight against binary options fraudsters. The agency has issued its perspective on how to deal with fraudulent binary options firms. Given that EUROPOL has powers to go back through the entire records of each brand and prosecute those involved, including binary options sales people, its efforts to stop this type of scam are set to be more effective than the blacklists and warnings published by national regulators.
In an insightful interview, Paul Orford, Head of Institutional Sales at AMB Prime, argues that the Forex industry is ready for Artificial Intelligence solutions on the tech front, although some challenges are present as to the legal structures in place. Regarding the perspective of human workforce being replaced by bots, Mr Orford reminds us that the destruction of the Spinning Jenny also damaged the employment prospects of workers within their industry.
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