Viral reports of IC Markets having a backlog of over 400 client withdrawals have pervaded Chinese cyberspace and FX industry forums as well as entered the domain of rival companies from the West with presence in China. We take a look at what is effectively a storm in a teacup. Literally.
Week in Review
Australia’s FX industry: A precise account from a prominent leader, Christopher Gore, CEO of GO Markets
“My view is that we are at an important time – a squeezing if you like – which may promote consolidation and perhaps even a couple of exits in their various forms” says GO Markets CEO Christopher Gore, as he looks very closely at how the regulatory structure and maintaining the correct methodology is critical to commercial sustainability in retail FX
The SFC considers Xu Tao breached the Code of Conduct and that this breach has called into question his reliability, reputation, and ability to carry out regulated activities competently.
Never mind the deadbeat, bearded Millennial non-doers. The generation that follows is an ideal retail FX target audience
The Millennials may have been a void in the financial markets world, but here is why FX brokerages should look toward a bright future as the generation that follows is staunchly capitalist, and is exactly the right demographic for FX trading
Mr Chambadal gave away a hard drive subject to an Injunction Order issued by the Court – this is used by SmartStream Technologies to accuse him of evidence destruction.
CySec issued permission to some retail firms to add cryptocurrencies to their list of instruments, then stopped issuing it, and now its licensing department does not know who those firms are, and has an island full of firms offering unlicensed cryptocurrency via offshore jurisdictions. Want CySec to tell you who is who? It’ll take them 15 days
Although the Australian regulator stuck to the size of the maximum penalties for the new rules violations, it agreed to make a range of concessions regarding certain deadlines for reporting.
Sergey Shvetsov, who is known for his role in the formulation of Russia’s FX law, promises that there is a ban in store for offering binary options and CFDs to investors lacking the necessary qualification.
Under no circumstances will FX clearing be moved to Europe, despite Eurex’s plan – unveiled today – to give banks part of its revenues, and even make board appointments in what is very much a conflict of interest. We delve deep into why this will never happen and London can hold its head high
Full report: It is not just a case of avoiding being blocked. This is how to structure YOUR company when approaching an all important Chinese client base.
Retail brokers, regulators and the authors of MiFID II: Why not embrace facial recognition for compliance? – Op Ed
He who invents and successfully implements it will gain historic acclaim as he who put a stop to cyber threats in the retail FX industry, as the regulators are very unlikely to do so despite the obvious need. Here is a full investigation and our suggestions
The KYC blockchain is set to reduce the risk of information duplication and the need for manual checks for both banks and customers, while enhancing the quality of the customer information that is stored.
Within the office of Leverate’s new CEO Jacob Polyakov, FinanceFeeds talks about how to empower brokerages in China, What CySec is doing, what not to do when approaching new markets, and how automation, consultancy and the background of professional services is now THE way to operate within the B2B FX sector. Here is a comperehensive and candid view from within
A trader who placed two buy orders at a price 100 times inferior to the average for the securities in question has had his orders annulled by Euronext, with the trader’s complaint rejected by the AMF Ombudsman.
Exclusive: Teddy Sagi continues to strengthen his FX empire as Roger Hambury is made Director of TradeTech
Roger Hambury becomes Director of TradeTech as Playtech continues its aggressive M&A drive in acquiring a cross section of electronic trading companies, software providers and institutional partners
Two Sigma Securities completes acquisition of Interactive Brokers’ US options market-making business
In completing the acquisition, Two Sigma Securities assumes about 1,300 exchange specialist assignments previously operated by Timber Hill, an affiliate of Interactive Brokers.
Swissquote’s customers are about to benefit from a new event format, allowing them to register to visit the bank’s headquarters.
An FCA official attempting to explain to the public that he did not know bogus educators aggressively selling false trading solutions existed would be rather like attempting to believe that he missed his Underground train to work that morning because he couldn’t see the 500 meter long red and white metal objects that appear in the station every 30 seconds.
CX proposes to adopt new chapter VI-12, in line with recent amendments to the Commodity Exchange Act, which prohibit certain disruptive practices, including spoofing.