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.

Another week of January 2017 is already behind us and for those of you who are concerned they might have missed anything from the fintech and Forex industry developments, FinanceFeeds provides you with a brief recap of what we see as the top five industry news from the past week.

OANDA names new CEO

On Wednesday – January 11, 2017, OANDA Global Corporation’s Board of Directors announced the appointment of Vatsa Narasimha, ex-CFO of OANDA, as its CEO. Mr. Narasimha replaces Ed Eger who will remain at OANDA to support Mr. Narasimha during a transition period.

Before joining OANDA in 2013, Mr. Narasimha was a Principal of The Boston Consulting Group (BCG). While at BCG, he led a number of financial institutions through growth strategies, corporate development and a multitude of operational transformations.

Hello Markets tackles data security breach

In an exclusive article published on Thursday, FinanceFeeds reported of a massive data security problem at Hello Markets. Hello Group’s CRM data was publicly available and displayed the entire databases of affiliates by just copy-pasting a URL. FinanceFeeds tested this extensively and brought the matter to Hello Group, which has confirmed that it has resolved the issue completely.

Deutsche Börse’s 360T welcomes Jack Linker

Jack Linker joins 360T, Deutsche Börse Group’s powerhouse for FX, as Head of Bank and Hedge Fund Sales for the Americas. Mr Linker will be based in New York and will report to Matt O’Hara, CEO 360T Americas.

Before joining 360T, Jack Linker, who has extensive experience in the FX industry, worked at Thomson Reuters, New York, where he was the Head of FX liquidity Sales & Management for the Americas.

Banc de Binary has its CIF license renounced

The Cyprus Securities and Exchange Commission has announced that, on January 9, 2017, Banc De Binary Ltd renounced its Cyprus Investment Firm (CIF) authorization. The license of what was one of the biggest binary options providers lapses from January 15, 2017.

AMF gets tougher on online trading ads

The French financial markets’ regulator has posted a communique, detailing its interpretation of the Sapin II law, which prohibits all sorts of advertising (and partnerships that lead to advertising) of high-risk financial products. AMF says the list of such products includes CFDs, currency contracts and binary options.

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US and South Korea seek extradition of Luna founder Do Kwon

Both US and South Korean officials are seeking to extradite Terraform Labs CEO Do Kwon, just hours after he was arrested in Montenegro.

Retail FX

Pepperstone UK doubles profit, client assets in 2022

The London-based entity of Australian FX broker Pepperstone has reported its financials for the fiscal year ending June 30, 2022. The group had outperformed the last year’s flat performance, having doubled revenues and boosted the broker’s bottom line and shareholders’ fortunes.

Institutional FX

CLS FX volume rises to just shy of $2 trillion in February

Foreign exchange settlement provider, CLS Group saw strong volumes in February 2023 as the banking crisis continues to weigh on a world economy that’s yet to fully recover from the Russia-Ukraine war’s shocks.

Digital Assets

Binance restores trading after 2-hour outage

Binance suffered a breakdown on its trading engine that lasted for about two hours, but the premier cryptocurrency exchange finally managed to restore normal operations at around 14:00 UTC.

Digital Assets

Tether earns $700 million in Q1, taking excess reserves to $1.6 billion

Tether chief technology officer Paolo Ardoino said the world’s largest stablecoin issuer expects to earn more than $700 million in the January-Mach quarter, which will be added to the reserve backing its stablecoin (USDT).

Digital Assets

Narwhal Finance Secures $1M in Seed Funding Led by Animoca Ventures

Narwhal Finance received strong support from Animoca Ventures and angel investors in a $1 million seed funding round, reinforcing the company’s vision of providing an accessible platform to all.


SteelEye tries ChatGPT for market surveillance

This capability can be used as a starting point for initiating a surveillance investigation and to standardize workflow processes to boost the throughput and consistency of cases. It is also useful when analyzing communications in foreign languages, as the system returns the above insights in English regardless of the languages being used.

Industry News

SEC charges ex-Morgan Stanley advisor of NBA players after $13m fraud

Darryl Matthew Cohen was arrested this week and is facing three different federal counts of fraud, which could amount to 20 years in prison if convicted, besides the SEC complaint. 

Industry News

AWS FinTech Africa Accelerator launched, applications until April 27, 2023

Founders will be offered tech resources, expert guidance, and a global network of industry leaders, technologists, entrepreneurs, investors, associations, and partners, in order to build their fintech products.