Copenhagen based multi asset broker Saxo Bank has issued a statement coming out strongly in favour of new FX and CFD brokerage rules proposed by pan-European financial regulator ESMA. At the center of ESMA's proposals - which include a Binary Options ban, required negative balance protection, and a ban on incentive bonus payments to retail…
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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 Axeworth Securities. Axeworth Securities 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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More news coming from the CFTC today, as the Commission announced that it has launched a virtual currency resource Web page, cftc.gov/bitcoin. This dedicated page is a central repository for Commission-produced resources about virtual currency, and is designed to educate and inform the public about these commodities, including the possible risks associated with investing or speculating in…
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The European Securities and Markets Authority (ESMA) has today updated its Questions and Answers (Q&A) regarding data reporting under the Market in Financial Instruments Directive (MiFID II) and Regulation (MiFIR). This document includes updated Q&As on: Unknown date of admission Concept of underlying Non-EU branches of EU Investment firms The purpose of this document is…
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Russia based online broker TeleTrade and Premier League club Burnley FC have announce their partnership, whereby TeleTrade will be designated as the Official Forex Trading Sponsor of Burnley FC. Burnley FC is one of the major success stories of late in English football. The small-market team - Burnley is a town of about 75,000…
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ANZ to buy-back $1.5bn shares as part of capital management plan ANZ Bank New Zealand today announced it has completed the sale of its 20% stake in Shanghai Rural Commercial Bank (SRCB), originally announced in January 2017. As part of the Group’s broader capital management plan, ANZ now intends to buy-back up to $1.5 billion…
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Management of Hong Kong retail forex broker KVB Kunlun Financial Group Ltd (HKG:6877) probably had other ideas when they decided to move the company's share listing from the HKEX's Growth Enterprise Market (or GEM), Hong Kong's version of the LSE's AIM market, to the HKEX Main Board. KVB Kunlun saw its shares tumble by 18%…
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New York based FX brokerage group Gain Capital Holdings Inc (NYSE:GCAP), which operates the UK-centric City Index as well as the global FOREX.com brands, has issued a statement in response to European regulator ESMA's plans to limit leverage on FX and CFD trading to 30x. Similar to the reaction of its London-based competitor IG Group…
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The UK Chancellor of the Exchequer, Philip Hammond, has formally announced the formation of R5-SHCH Connect, a partnership between R5, the London FinTech leading the digital transformation of Emerging Markets Foreign Exchange trading, and the Shanghai Clearing House, the financial market infrastructure, established to clear and settle China’s financial products. During last week's UK-China Economic…
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National Settlement Depository (NSD) and VTB Registrar announced that they will provide Alrosa, Russia’s diamond mining company, with e-voting services at its General Meeting of Shareholders. From 19 December 2017 to 11 January 2018, Alrosa shareholders will be able to use NSD’s e-voting systems and VTB Registrar’s Meeting Portal service. The synergy of the companies’…
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