At the Association for Financial Markets in Europe (AFME)’s Board meeting and EGM held in Brussels on 6 December, Michael Cole-Fontayn was appointed as Independent Chairman with effect from 1 January 2018. Michael Cole-Fontayn is retiring from BNY Mellon (NYSE: BK) this month after a 35-year career with the company, most recently as Executive Vice…
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ASX today announced its intention to replace CHESS using distributed ledger technology (DLT) developed by its technology partner Digital Asset (DA). CHESS (Clearing House Electronic Subregister System) is the system used by ASX to record shareholdings and manage the clearing and settlement of equity transactions in Australia. It was world-leading when introduced in the 1990s,…
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With less than 30 days to go before the upcoming MiFID II legislation comes into force on 3 January 2018, latest research has found that a shocking 39% of UK financial organisations are unaware whether their organisation is compliant or not. A quarter confirmed that they are not yet compliant with recording technology and 29%…
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One of the more interesting traditions in the forex world as we head toward the holiday season and year-end is Saxo Bank’s annual “Outrageous Predictions”. Not meant to be a real look into the crystal ball but rather food for thought, Saxo Bank takes a look at some wacky but still plausible scenarios for traders…
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Derivatives marketplace CME Group (NASDAQ:CME) today declared its annual variable dividend, amounting to $3.50 per share. The dividend is payable January 15, 2018, to shareholders of record on December 28, 2017. When CME Group adopted its annual variable dividend structure in February 2012, the intention was to determine the excess cash available at the end…
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Susan Swart, the International Monetary Fund’s (IMF) Chief Information Officer and Director of its Information Technology Department (ITD), has decided to leave the Fund in early 2018 for personal reasons. Ms. Swart joined the IMF in June 2012, following a distinguished career at the U.S. State Department. Susan brought with her the expertise and international…
Read moreLondon Stock Exchange (LSE) announced that it welcomes Indian Railway Finance Corporation’s (IRFC) first green bond. The ten year dated green bond raised $500 million with an annual yield of 3.835 per cent and listed on London Stock Exchange’s new International Securities Market. The bond was more than three times oversubscribed and received strong international…
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After seeing a fairly slow start to the fall trading season, retail forex broker FXCM has posted fairly strong FX trading volume metrics for November. FXCM volumes were $218 billion in November, up 14% from $192 billion in October. Average customer trading volume per day of $9.9 billion in November was also 14% higher than…
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Close to the launch of bitcoin futures by CME Group and other exciting news, the “people’s currency” is going through the roof. While many thought that Zimbabwe enjoyed a price level of around $14,000 that is not easily attainable in other countries, today Bitcoin gained over $1,200 in just 24 hours. The truth is, based…
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The National Futures Association (NFA) has announced that effective January 1, 2018, the NFA's assessment fee will increase from $0.01 per side to $0.02 per side, for futures and options contracts. The decision to increase the assessment fee was made after a thorough review of all relevant issues by NFA's Board, Executive Committee and Finance Committee.…
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