Copenhagen based Saxo Bank's new ownership group is moving rapidly to reshape the company, with the latest move being a just-announced sale of one of its major units for USD $60 million, alongside a new partnership with the buyer. Saxo Bank announced this morning the sale of subsidiary Saxo Privatbank, a fully licensed retail bank with…
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It certainly looks as if January 2018 is going to be a month to remember for leading institutional and retail FX trading venues. Following our initial trading volume reports for institutional eFX platforms which included record results at GTX, Cboe FX (Hotspot) and FXSpotStream, we begin our coverage of the Retail FX sector with FCA…
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Ms Lorraine Bullock of Croydon, Victoria has pleaded guilty to dishonestly using her position as a director to fraudulently remove company property, ASIC announced earlier. Ms Bullock, a former director of Twently12 Pty Ltd operated a liquor store in Healesville, Victoria. An ASIC investigation found that soon after the appointment of the liquidator to the…
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Your Weekly Trading Review by UFX.com – Sunday, February 4th, 2018 Here are some of this past week’s leading economic news and events that affected the financial markets: JPMorgan, Bank of America Corp., and Citigroup Ban Bitcoin Three of the leading U.S. financial intuitions are deciding to prohibit the purchase of cryptocurrencies on their financial cards. JPMorgan…
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In Forex Industry News this past week… How much did LMAX management pay Paddy Power Betfair PLC (LON:PPB) to buy out the latter's 31% stake in LMAX. And, where did they get the money from? Which FX brokers were awarded financial services licenses in Jordan? Which investors put HK$200 million into Hong Kong based Retail FX…
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Bitcoin is plunging right now. The price of the digital currency went under $7,500 today, according to major exchanges like Coinbase. Bitcoin was hitting $20,000 in December, 2017. Many are wondering what is going on and for how long. Does the price volatility and plunge of Bitcoin mean the end for the cryptocurrency? With all of…
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Many people think about the famous movie, The Wolf of Wall Street, with Leonardo Dicaprio, but the real "Wolf" has now spoken about Bitcoin and his prediction on the future of the digital currency. Jordan Belfort, who was a successful stockbroker on Wall Street once, before going to jail for market manipulation and fraudulent activities, believes…
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UK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against the company Cordell Groves. Cordell Groves is not authorised by the FCA but has been targeting people in the UK and is also carrying on regulated activities which…
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Integrated Asset Management Corp. (TSE:IAM) announced the closing on January 30, 2018 of a $8,000,000 senior loan to Blackstone Industrial Services. The capital raised by Blackstone Industrial Services will be used to acquire Nuovo Parts, a specialty Italian parts reseller in North America. Blackstone Industrial Services is a Canadian-based equipment service firm focused on critical…
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Singapore Exchange (SGX) announced that it has welcomed the listing of Kakao Corp. Global Depository Receipt (GDR) by introduction on its Mainboard. The shares underlying Kakao Corp. GDR are listed on the Korea Stock Exchange. Kakao Corp., with an estimated market capitalisation of US$8.8 billion, is a leading mobile lifestyle platform company in South Korea.…
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