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Industry News, Retail FX

South Africa is open for business. As Cyril Ramaphosa steps up, the nation’s longstanding FX prowess can now be unleashed

South Africa’s fine and astute FX market is no longer hampered by capital controls and socialist politics. Now is the time for brokerages to approach its first class Tier 1 banks, its massive and well connected IB network, and continue the path originally formed by pioneering FX brokerages as Cyril Ramaphosa lays down the business friendly future of the Rainbow Nation

Industry News, Institutional FX, Week in Review

BNY Mellon spearheads South Korean FX prime brokerage emergence as international aspirations loom

BNY Mellon may not be among the very top FX prime brokerages in terms of global market share, however its recent foray into South Korea by opening a trading room in Seoul is symbolic of its APAC aspirations. The bank is clearly not just looking to provide Won liquidity to a local market, but instead is using South Korea as an APAC springboard for global FX order flow at Tier 1 level

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Industry News, Retail FX, Week in Review

Cyprus government at odds with CySec: Whilst regulator protects small FX firms, hedge funds are the priority from Nicosia

Now is an opportune time for the island of Cyprus. Whilst CySec’s interest is to keep as many small FX firms in business and has encouraged binary options which has led to the spread of ICOs, the central government is looking toward moving the bucket shops out and moving the hedge funds and family offices in. Here is a great opportunity for the institutional FX sector