Monex Group Inc. (TYO:8698) just reported its quarterly financial results of its wholly-owned subsidiary, Monex, Inc., for the 3Q of the fiscal year ending March 31, 2017 prepared in accordance with the generally accepted accounting principles in Japan. And it doesn't look so good at all. Operating revenue for the 3Q 2016 was ¥22,070 million,…
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U.S. Commodity Futures Trading Commission Acting Chairman J. Christopher Giancarlo announced that General Counsel Jonathan L. Marcus will depart the agency. Mr. Marcus joined the agency in 2011 as Deputy General Counsel for Litigation, and was promoted to General Counsel in 2013. Acting Chairman Giancarlo also announced that Robert A. Schwartz, currently the Deputy General…
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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 firm Hayashi and Partners / Hayashi International Equity Securities. Hayashi and Partners / Hayashi International Equity Securities is not authorised by the FCA but has been targeting…
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This article is written by freelance writer Zak Goldberg. Prior to the Supreme Court ruling on Tuesday, the pound had hit its highest level since December, yet within minutes of the ruling, the pound had tumbled as the markets reacted to the news the government would need to consult with Parliament before Brexit. A defeat in…
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The U.S. Securities and Exchange Commission today announced that the Citigroup Global Markets unit of global banking giant Citigroup Inc (NYSE:C) has agreed to pay $18.3 million to settle charges that it overbilled investment advisory clients and misplaced client contracts. The SEC’s order finds that at least 60,000 advisory clients were overcharged approximately $18 million…
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The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against units of online brokerage firm E*TRADE Financial Corp (NASDAQ:ETFC) - E*TRADE Securities LLC (E*TRADE Securities), an Introducing Broker, and E*TRADE Clearing LLC (E*TRADE Clearing), a Futures Commission Merchant - for non-compliance with applicable record-keeping rules and failure to diligently…
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Bats Global Markets, Inc. (Bats:BATS) welcomed QuantX Funds as a new issuer to the Bats ETF Marketplace with the launch of a suite of risk management focused funds: QuantX Risk Managed Growth ETF (Bats: QXGG) seeks to replicate investment results that generally correspond, before fees and expenses, to the performance of the QuantX Risk Managed…
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The Autorité des Marchés Financiers (AMF) has published a detailed analysis of the activity of market participants engaged in high-frequency trading (HFT) on CAC 40 stocks, with focus on their presence in the order book, how they provide and consume liquidity and how their behaviour changes during periods of intense stress. Over the last few…
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Financial technology provider Broadridge Financial Solutions, Inc. (NYSE:BR) has just announced that the usage of passive investment products, ETFs and index funds, hits all-time highs in 2016, driven by third-party distribution channel sales from broker-dealers (B/D), registered investment advisors (RIAs) and banks. These channels represent almost $10.5 trillion in long-term funds and ETFs tracked by…
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LeapRate has learned that Copenhagen based multi asset broker Saxo Bank issued pink slips yesterday to 50 employees, or about 3% of its global workforce of more than 1,500. About 30 of the layoffs occurred at the company's home office in Denmark. The remainder will be at the company's branch offices including the London office at…
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