Last week, on September 5, 2017, the securities industry successfully implemented a shortened settlement cycle for most securities transactions, pursuant to amendments to Rule 15c6-1 that the Securities and Exchange Commission (SEC) adopted earlier this year. The move to a two business day standard settlement cycle – or T+2 – was the product of extensive preparation…
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The following article was written by Natallia Hunik, Global Head of Sales at Advanced Markets and Fortex, Inc. Best execution policy under MiFID adopts a multi-faceted approach that addresses, amongst other things, quality of execution, trading conditions extended to clients and the counterparty selection process. It also provides directions and guidelines on how best execution can…
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Canada's financial industry stands to benefit from shortened securities settlement cycle CDS Clearing and Depository Services Inc. (CDS), Canada's national securities depository, clearing and settlement hub, announced the successful transition to a two day securities settlement period, or T+2, from the previous three day period, or T+3. Thursday, September 7, 2017 marked both the final…
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France's market regulator the Autorité des marchés financiers (AMF) has warned the public against the activities of “Naftoil” company and its director Mr Raphael Comté proposing investments services without being authorized to do so. This company is not authorized by the AMF to provide investment services. The AMF reminded investors and individuals responsible for marketing…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm Financial Point. Fraudsters are using the details of firms, authorised by the FCA, to try to convince people that they work for a genuine, authorised firm. Fraudsters are using or giving out the following details as part of their tactics to…
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First buy-side client to utilise the Lending CCP’s Specific Lender License Eurex Clearing, Europe’s clearing house and part of Deutsche Börse Group, has announced that PGGM, the cooperative Dutch pension fund service provider offering institutional clients asset management, pension fund management, policy advice and management support, is the first buy-side client to become a direct…
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LeapRate Exclusive... LeapRate has learned that former ThinkMarkets Australia General Manager Athol Nourse has gone live with his new Retail FX broker, called Champion FX (at champion-fx.com). Champion FX is being launched as a 50-50 joint venture between Mr. Nourse and Binary.com, a licensed binary options platform with its base in Malta and back office…
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Consumers to abandon cash by 2020 More than half (54 per cent) of consumers expect to abandon using cash for shopping in the next two years, according to new research conducted by payments services company Paysafe Group Plc (LON:PAYS). The report, called Lost in Transaction, uncovered the rapid move towards a cash-free economy with nearly…
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Belize financial regulator IFSC has issued a Warning Notice regarding a company called Real Markets Live. According to the regulator, an entity calling itself “Real Markets Ltd” aka RealMarketsLive, with its business address at Schweigaards Gate 5, 0185 Oslo, Norway, operating under domain name, http://realmarketslive.com is falsely and fraudulently purporting to be licensed by the…
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TradingScreen, Inc. (TS) an industry provider of multi-asset electronic trading solutions recently launched BidFX, an Execution Management System (EMS) designed for the $5 trillion daily FX market. The platform matches the proven SaaS based technology from TradeSmart with the ability to connect to all liquidity provided by Banks, nonbanks, and ECNs. "In response to client feedback and…
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