More than three years after the events from January 15, 2015, the joint special administrators of the broker say they will apply to Court to seek closure of the Special Administration.
Week in Review
Connecting retail platforms to Chicago’s exchanges continues to gather pace – Now is the time to go multi asset
Another example of the interest in combining Chicago’s exchanges with retail brokerage emerged today as DEGIRO partners with CME Group to provide education on futures trading to retail customers, meaning another step toward the onboarding of OTC orientated European retail customers.
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
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
Hong Kong regulator fines Interactive Brokers over deficiencies in electronic and algorithmic trading systems
The SFC’s disciplinary action follows two market disruption incidents in 2015 and 2016, revealing deficiencies in Interactive Brokers’ electronic and algorithmic trading systems.
Plus500 states that cryptocurrency CFD trading only accounted for 15% of all revenues, yet user acquisition cost was massively reduced by being able to target cryptocurrency web traffic en masse. Either it’s popular, or it’s not. The proof is in analyzing the figures – so that’s what we have done
In line with policy on trading and investing more generally, the Government has no plans at this time to put an age limit on trading or investing in digital currencies, says Lord Bates.
Effective February 12, 2018, Allen Epstein and Matthew Harford are suspended from engaging in trading activity for 5 and 12 days, respectively.
FinanceFeeds hosts Chicago’s finest: Multi-billion dollar listed derivatives leaders join us in the exchange capital of the world
Connecting your MetaTrader platform to genuine multi-asset product ranges is the means of sustaining a good quality future, and Chicago’s esteemed exchanges are very much interested in onboarding retail business. FinanceFeeds hosted some of the world’s most senior level listed derivatives executives at R29 on West Adams Street to discuss how to bring the retail FX industry toward multi-asset success
Plans for the development of a new mobile trading app push KVB Kunlun to revise agreement with Banclogix.
SEC settles administrative proceedings against Craig Karlis, who, back in 2014, got a prison term for Forex fraud.
Former Saxo Bank exec and FX marketing guru Morten Fillipsen leaves the industry, joins wine marketplace Vivino
After 7 years at Saxo Bank before co-founding Juno Markets alongside former colleague Arthur Le, culminating in his Partnership at MediaGroup Worldwide, Morten Fillipsen, a regular FX industry commentator and well known figure, has left the FX industry altogether for a leadership position at community powered wine marketplace startup Vivino
As Japanese regulators promise tightening of oversight on cryptocurrency exchanges, GMO Coin aims to reassure its clients that necessary safeguards are in place.
The FCA, the British margin advantage and why MT4 brokerages have never been able to list on public exchanges
What has owning your own trading system got to do with new margin regulations by the FCA? We investigate from London, and look at why MetaTrader 4 could be a victim of its own ubiquity.
A hearing for preliminary injunction gets delayed, whereas the current Court orders do not enjoin the ongoing fraud, including the fraudulent solicitations currently on the Internet.
“There is almost no business that takes place over the internet at the moment, and there never has been” – A detailed look at market connectivity
B book firms with no contact with customers and an automated model have more than stirred the attention of regulators with regard to how customers are onboarded automatically, as the correct asset class and trading environment for their risk attitude, as well as the ability to know the client and establish identity – a very important compliance requirement – is very ambiguous. We look at market connectivity and how it all works
CFTC gets closer to obtaining default judgement against Unique Forex, Blackbox Pulse, White Cloud Mountain
A clerk at the New Jersey District Court has approved the entry of default as to the defendants for failure to plead or otherwise defend in a Forex fraud case.
According to top banks, such as JPMorgan, Barclays, Bank of America, Citi and HSBC, the plaintiffs use an overly broad definition of retail FX transactions in their request for documents.