Retail forex broker Gain Capital Holdings Inc (NYSE:GCAP) has announced that it has reached a definitive agreement to acquire the US clients of rival FXCM Inc (NASDAQ:FXCM). Gain declined to say how much it was paying for the FXCM US client base. However we believe that very little cash changed hands (more on that below). Gain…
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Now is a great time to see the aftermath of the damage being brought to FXCM in the wake of the ruling in which the US Commodity Futures Trading Commission (CFTC) banned FXCM Inc (NASDAQ:FXCM) from its home US market, as well as a permanent registration ban for CEO Drew Niv. Today the stock is tanking by…
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ChartIQ, the US-based charting and white label platform provider, continues to gain traction in the capital market space with its recent strategic partnership with financial giant, Fidessa Group plc (LON: FDSA). Together, ChartIQ and Fidessa have will bring a front-end interface to the Fidessa institutional trading desktop, available to 85% of the world’s largest financial…
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The Board of the Cyprus Securities and Exchange Commission (CySEC) just informed investors that, at its meeting held on December 19, 2016, decided to impose a total administrative fine of €5.000 on the AIFM Fortified Capital Ltd for the noncompliance with article 29(2) of the Alternative Investment Funds Law. The Company, acting as the external…
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Binary options platform provider and operator TechFinancials Inc (LON:TECH) announced a trading update ahead of its final results for the year ended 31 December 2016. TechFinancials reported that further to its previous guidance to the market on its full year results for 2016, it now expects to exceed market expectations with revenues not less than USD…
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The European Securities and Markets Authority (ESMA) has issued a report on Distributed Ledger Technology (DLT). The report sets out ESMA’s view on DLT, its possible applications, benefits, risks and how it maps to existing EU regulation. ESMA’s position is that regulatory action is premature at this stage, considering that the technology is still at…
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The UK Financial Conduct Authority (FCA) has put out details of the cloned firm PDP / Payday Pixie. 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…
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The Board of the International Organization of Securities Commissions (IOSCO) today published the Second Review of the Implementation of IOSCO's Principles for Financial Benchmarks in respect of the WM/Reuters 4 p.m. Closing Spot Rate. The report found that the administrator had made very significant progress, with most of the recommendations from an earlier review having…
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The Market Misconduct Tribunal (MMT) today found that Mayer Holdings Limited and nine of its current and former senior executives failed to disclose inside information as soon as reasonably practicable as required under the Securities and Futures Ordinance (SFO) following proceedings brought by the Securities and Futures Commission (SFC). The current and former senior executives…
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Continuing the amazing drama in the wake of the ban of retail forex broker FXCM Inc (NASDAQ:FXCM) and its CEO Drew Niv from the US FX market, and the subsequent sale of FXCM's US clients to rival Gain Capital Holdings Inc (NYSE:GCAP), LeapRate has learned that FXCM has made filings with US regulators that it plans to…
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