IFC and Demica to unlock $9.8 billion for distributors in emerging markets LeapRate

Paxos teams up with bitcoin payment service BitPay

October 01, 2018 BY Valentina Kirilova

IFC and Demica to unlock $9.8 billion for distributors in emerging markets

IFC, a member of the World Bank Group, and Demica, a capital financial technology firm, have announced a new partnership that will help unlock as much as $9.8 billion in annual financing for suppliers and distributors in emerging markets—particularly small and medium enterprises. In addition, IFC participated in Demica’s $25 million second round financing that…

October 01, 2018 BY Valentina Kirilova

Boerse Stuttgart records September turnover of €4.9 billion

Based on the order book statistics, Boerse Stuttgart generated turnover of around EUR 4.9 billion in September 2018. Securitised derivatives made up the largest share of the turnover. The trading volume in this asset class was more than EUR 2.3 billion. Leverage products generated over EUR 1.4 billion. Thereof around 437 million was attributable to…

October 01, 2018 BY Valentina Kirilova

Deutsche Börse cash market turnover 20% higher YoY in Q3

The trading volumes on the cash markets of Deutsche Börse amounted to €1.29 trillion at the end of the third quarter, an increase of 20% compared to the same period last year. In 2017, turnover on the trading venues Xetra, Börse Frankfurt and Tradegate Exchange stood at €1.08 trillion at the end of September. On…

October 01, 2018 BY Valentina Kirilova

All managed discretionary account providers now required to be licensed

All managed discretionary account (MDA) providers must now have an Australian financial services (AFS) license, with an MDA-specific ‘dealing by issue’ licence authorisation, Australian regulator ASIC announced earlier today. From today, MDA providers who do not have the required AFS license authorisations must cease providing MDAs until they have obtained those authorisations. An MDA is…

October 01, 2018 BY Valentina Kirilova

CFTC charges interdealer broker TFS-ICAP with fraud

The Commodity Futures Trading Commission (CFTC) has announced that it has charged interdealer broker TFS-ICAP LLC and TFS-ICAP Ltd. (TFS-ICAP) with fraud and supervision failures. In a Complaint filed in the U.S. District Court for the Southern District of New York, the CFTC alleges that, from approximately 2008 through 2015, brokers at TFS-ICAP offices in…

October 01, 2018 BY Valentina Kirilova

Credit Suisse to pay $10 million to settle SEC charges

The Securities and Exchange Commission (SEC) has announced that Credit Suisse Securities (USA) LLC has agreed to settle charges brought by the SEC and the Office of the New York Attorney General regarding material misrepresentations and omissions made in connection with its now-closed Retail Execution Services (RES) business’ handling of certain customer orders. The settlements…

BIS announces key appointments in Singapore and Switzerland

October 01, 2018 BY Valentina Kirilova

Blockchain executives join Blockparty’s Board of Advisors

Blockparty, a blockchain-powered live events ticketing platform, has announced the appointment of three prominent executives in the blockchain space to its Board of Advisors. Following the public launch of Blockparty earlier the summer, Brian Kelly, CEO of BKCM LLC, Alex Waters, Advisor to Elm Labs, and Marshall Hayner, CEO and Founder of Metal Payments, will…

October 01, 2018 BY Valentina Kirilova

Musk to step down as Tesla’s Chairman, agrees to pay $40 million in penalties

The Securities and Exchange Commission (SEC) has announced that Elon Musk, CEO and Chairman of Silicon Valley-based Tesla, Inc. (NASDAQ:TSLA), has agreed to settle the securities fraud charge brought by the SEC against him last week. The SEC has also charged Tesla with failing to have required disclosure controls and procedures relating to Musk’s tweets,…

October 01, 2018 BY LeapRate Staff

Cboe FX (Hotspot) September 2018 forex trading volumes up 3% to $35.8B ADV

Rebounding somewhat from the normal summer trading volumes slowdown, data from institutional Forex ECN Cboe FX Markets – formerly known as Hotspot FX – indicates that the company saw a modest 3% increase in average daily volumes during September, $35.8 billion versus $34.9 billion the previous month. Volumes remained however well below where they were during the…

October 01, 2018 BY LeapRate Staff

FastMatch has slowest month of 2018 with September FX trading volumes at $18.6B ADV

Following the normal summer slowdown in trading seen at a number of leading institutional FX platforms, Forex ECN FastMatch has reported that September 2018 FX trading volumes were down even further, coming in at $18.6 billion ADV. That is 4% below August's $19.5 billion, and also represents the lowest average-daily-volume figure of any month in 2018 for…