CME Europe has just informed members that it will be extending its FX Liquidity Creation Program (LCP) commencing on December 1st. The renewal is a success for the program which was first announced back in May as first reported by LeapRate. It should be noted that existing participants in the FX Market Making program are not eligible to…
Read more
KCG Holdings, Inc. (NYSE: KCG) has announced it has completed the move of its headquarters to 300 Vesey Street in downtown Manhattan. The new headquarters houses over 600 KCG employees and features a state-of-the-art trading floor as well as flexible collaboration spaces to promote teamwork throughout the office. Daniel Coleman, Chief Executive Officer of KCG,…
Read more
The National Futures Association (NFA) this week has submitted to the Commodity Futures Trading Commission (CFTC) new Forex data transaction disclosure rules which were unanimously approved by NFA board members and of which reps from the five USA based retail Forex Dealer Members (FDMs) indicated that they had no objection to providing. The proposed compliance rule…
Read more
Company offers enhanced institutional and retail clearing services following Sterne Agee acquisition INTL FCStone Inc. (NASDAQ: INTL) has announced that the Correspondent Clearing Division of its wholly owned subsidiary, INTL FCStone Financial Inc., has unveiled clearing and custody services for middle-market firms following its parent company's acquisition of Sterne, Agee & Leach, Inc. in August…
Read more
Most of the technological advances people see in the online trading sector occur in the Trading Platform. However, since it has always been Affiliates which have driven growth in the online trading sector, especially as the industry expands into new markets such as the Far East and Latin America, the technology empowering Affiliates has kept pace…
Read more
Deutsche Börse is launching five net return indices thus adding a new calculation version to its DAX family. Deutsche Börse's selection indices were previously calculated as performance and price indices, now, the DAX Net Return (ISIN DE000A1A4D00), DAX Net Return USD (ISIN DE000A1A4D18), MDAX Net Return (ISIN DE000A0Z3ND6), SDAX Net Return (ISIN DE000A0Z3NE4) and TecDAX…
Read more
In August 2016, Mastercard launched its newest risk management system. Mastercard Dashboard is a highly functional anti-fraud technology, dedicated to providing acquirers insights into their merchant clients’ fraudulent statistics. The Mastercard Dashboard is engineered specifically to expand acquirer possibilities, aggregating insights from across the Mastercard global network to provide a detailed overview of merchant transactions.…
Read more
Global Prime Partners (GPP) has just appointed Mike Ward to head new business development. Ward arrives from Nomura where he was co-head of EMEA equities. Prior to this he was head of equity sales, EMEA at Bank of America Merrill Lynch. Ward brings with him a wealth of experience across Global Markets product lines and…
Read more
The Market Misconduct Tribunal (MMT) has today fined AcrossAsia Limited (AcrossAsia) $600,000, its former chairman Mr Albert Saychuan Cheok $800,000, and chief executive officer Mr Vicente Binalhay Ang $600,000 after finding they had failed to disclose inside information to the public as soon as reasonably practicable as required under the Securities and Futures Ordinance (SFO).…
Read more
LeapRate Exclusive... Confirming LeapRate's earlier exclusive story that Cyprus financial regulator CySEC was preparing to ban the use of deposit bonuses (and other retention bonus schemes) for retail traders, CySEC today issued a circular to all CIF regulated brokers on the island clarifying their position. In the circular (full text below), CySEC states: CIFs must…
Read more