Reyker Securities gets declared as defaulter on London Stock Exchange

Maria Nikolova

Member firms are advised to ensure that no further settlement of their on Exchange transactions with Reyker takes place.

London Stock Exchange (LSE) has just posted a statement regarding Reyker Securities plc.

The Exchange suspended the membership of Reyker on October 7, 2019 pending clarification of the firm’s position. On October 8, 2019 Mark Ford, Adam Stephens and Henry Shinners of Smith & Williamson were appointed as Joint Special Administrators.

LSE explains that it has subsequently been in communication with the administrators regarding the firm’s outstanding on Exchange trades and the administrators have now confirmed that Reyker is unable to fulfill its obligations in respect of its unsettled Exchange market contracts. Therefore, Reyker was declared a Defaulter on the Exchange at 13:15 on October 23, 2019.

Member firms are advised to ensure that no further settlement of their on Exchange transactions with the Defaulter takes place. This is to ensure that the unsettled transactions, which will be covered by the Exchange’s default procedures, are not separately settled. Euroclear UK and Ireland Limited (the operator of CREST) has suspended settlement of all trades undertaken by Reyker due for settlement through its facilities.

The Exchange has set up a dedicated section on its website to provide interested parties with information on this default.

Any member firm or person who believes that they have an unsettled on Exchange trade with Reyker at the time of their default is requested to provide the Exchange with details of their transaction(s). Notifications of unsettled trades should be made to the Deputy Default Official in accordance with the instructions given, and in the form provided, on the Exchange’s website at:

or

for non member firms and, if possible, within the next 5 business days.

LSE has appointed Liam Smith as the Default Official and Dagmar Banton as Deputy Default Official.

Read this next

Digital Assets

Centralized exchanges are 10 times more popular than DEXs in Western Europe

Western European traders are found to prefer centralized exchanges over decentralized ones as CEX traffic outpaces DEXs by a factor of ten.

Market News

Stock Market Analysis: Is NVDA Losing Its Leadership?

Since the beginning of the week, the S&P 500 Index (US500) has seen a modest increase of about 0.58%, whereas NVDA’s share price has experienced a decline of approximately 3.8%. This recent divergence raises concerns among Nvidia stock investors — could it signify a loss of NVDA’s market leadership?

Industry News

ESG: Australian regulator wins first greenwashing court case against Vanguard

Vanguard admitted that a notable portion of the securities within both the Index and the Fund did not undergo the promised ESG scrutiny.

Fintech, Uncategorized

BitMEX integrates HALO from Solidus Labs for cross-market surveillance

““The recent approval of the Spot Bitcoin ETF has piqued the market’s interest. As a result of price volatility, the trading volumes for crypto derivatives have gone up substantially. HALO, with its advanced technology and crypto-native detection architecture, will enable BitMEX to smoothly and safely scale trade surveillance across its increased trading volumes and provide the necessary safeguards for new product launches.”

Reviews

IUX Broker Review

IUX, recently rebranded from IUX Markets, stands as a multi-asset Forex broker recognized for its regulatory compliance across various jurisdictions.

Industry News

Horizon Software rebrands to Horizon Trading Solutions

“Horizon Trading Solutions has seen accelerated global growth over the past year to meet the rising demand for our trading solutions and built-for-purpose technology offering. The choice to rebrand represents a key part of this development, while maintaining our heritage and history in the industry.”

Market News

USDJPY has surged to levels last witnessed in 2022. Should we consider opening a short position?

The recent resurgence of the US dollar has propelled USD/JPY to new heights, touching levels not seen since 2022. This surge comes against the backdrop of stable short-term yields and ongoing economic data that fails to signal a significant slowdown, prompting questions about the extent of current monetary easing measures.

Digital Assets

DED Trends on Twitter After Memecoin Snapshot Announcement

Polkadot-backed community coin #DED, made it to the trending charts on X, demonstrating community’s engagement and interest behind the memecoin. 

Digital Assets

BlockDAG Presale Nears $10 Million Amid Toncoin’s Momentum, Green Bitcoin’s Presale, and the Rise of Other Top Cryptos

This article will examine three top trending topics: Toncoin’s potential, Green Bitcoin’s innovative presale, and BlockDAG’s sustainable mining approach. These cryptocurrencies take centre stage for their uniqueness and innovation.

<