LeapRate Exclusive… LeapRate has learned via regulatory filings that payments services company Paysafe Group Plc (LON:PAYS) has spent more than £8 million buying back its own shares in the open market during the first three weeks of its £100 million share buyback program announced late last year. Paysafe shares traded down by as much as 38%…
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Bats Global Markets, Inc. (Bats:BATS) announced the successful launch of the Bats Auction Mechanism (BAM), providing price improvement opportunities for customer orders. The company began rollout of the new functionality on the EDGX Options Exchange on January 4th and completed it, with no disruption to customers, on January 10th. The company’s two U.S. options exchanges,…
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In a prosecution brought by the Financial Conduct Authority (FCA) Manjeet Mohal, a former employee of Logica Plc, has today been sentenced to 10 months imprisonment suspended for two years in respect of two counts of insider dealing. He was also ordered to undertake 180 hours of community work. Reshim Birk, a neighbour of Mr…
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LeapRate Exclusive... It looks like a number of heavy hitters are betting on a comeback in the share price of CFD broker Plus500 Ltd (LON:PLUS). Plus500 shares, and those of other leading UK online brokers including IG Group Holdings plc (LON:IGG) and CMC Markets Plc (LON:CMCX), were hit hard last month following new proposed rules unveiled…
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Pershing Securities Australia Pty Ltd has paid a penalty of $40,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP), ASIC just announced. In December 2015, a market-making client of Pershing with direct market access through their AOP system had entered orders into the trading platform of ASX in…
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Breaking Forex News... It looks like the currency markets are in for another volatile week. Following weekend comments attributed to British Prime Minister Theresa May - that in a speech later this week she will apparently outline a Hard Brexit plan - the British Pound began the week down nearly 2% in early Monday trading…
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With executives and traders returning from the year-end holidays, it was a very busy week of Forex Industry News at LeapRate. And once again, we were pleased to bring LeapRate readers the key exclusive stories - EZTrader raising $3 million, XTB firing its CEO, UK financial institutions giving up on EU license passorting in favor…
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The U.S. Securities and Exchange Commission has announced that market making firm Citadel Securities LLC has agreed to pay $22.6 million to settle charges that its business unit handling retail customer orders from other brokerage firms made misleading statements to them about the way it priced trades. The SEC’s order finds that Citadel Execution Services…
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LeapRate Exclusive... LeapRate has learned that Viral Tolat, former CTO of FX technology products provider Integral Development Corporation and now CTO of rival EBS BrokerTec, a unit of NEX Group PLC (LON:NXG) (formerly known as ICAP plc), is facing a jury trial for misappropriation of source code taken from Integral to EBS, as well as breach…
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The U.S. Securities and Exchange Commission today announced that the Morgan Stanley Smith Barney unit of global investment bank Morgan Stanley (NYSE:MS) has agreed to pay a $13 million penalty to settle charges that it overbilled investment advisory clients due to coding and other billing system errors. The firm also violated the custody rule pertaining…
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