ASIC has cancelled the Australian credit licence held by Vontelle Pty Ltd (Vontelle). ASIC found that from around September 2016, Vontelle had not complied with its obligation to maintain the competence to engage in credit activities. In particular, ASIC was concerned that although Mr James David Gibbs was listed as the key person for the…
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An Indian chief executive of a forex trading company in Dubai who swore to double investors' money was arrested for suspected fraud, authorities announced. Sydney Lemos, 36, from Goa was the owner of Exential, a forex trading company in Dubai and was behind the failed Dh50 million ($13.6 million) foreign exchange scheme, the National daily…
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ASX-listed Kalina Power Limited decided to amend the accounting for its subsidiary New Energy Asia Limited (NEA) when it releases its half-year financial report for 31 December 2016. ASIC made inquiries about Kalina's deconsolidation of NEA in its financial report for the year ended 30 June 2015 and the subsequent reconsolidation of NEA in the 30…
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Following his boss Barack Obama out the door, CFTC Chairman Timothy G. Massad has announced that he has tendered his resignation to President Obama as Chairman of the U.S. Commodity Futures Trading Commission (CFTC), effective on January 20, 2017 - not coincidentally the day of President-elect Trump's inauguration. Mr. Massad, age 60, served as the head…
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Multibank FX aggregation service FXSpotStream has reported that volumes on its system were down 21% MoM to $17.6 billion average daily volume in December. In context, however, FxSpotStream's volumes were fairly in line with what we have seen so far from other leading institutional eFX venues such as Hotspot FX and FastMatch. November saw record…
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France's financial regulator the Autorité des Marchés Financiers (AMF) has launched a formal open consultation on its plan to regulate Corporate Finance Advisory services providers. The AMF announced that it is reviewing the opportunity of intervening in the regulation of entities that advise businesses on company mergers and acquisitions (or M&A), business transfers, external growth…
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Tradovate, an online brokerage firm for active, self-directed futures traders, and Order Flow Analytics (OFA), a data visualization company, announced today that Tradovate has integrated OFA’s analytical and algorithmic trading tools into its cloud-based platform. The move enables thousands of current OFA clients to transform their experience with the products, providing new means of access, a higher…
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Based on the order book statistics, turnover from all trading activities at Boerse Stuttgart in 2016 exceeded EUR 80.1 billion. As such the turnover across every asset class at Germany’s floor-trading exchange was around 15% below the previous year’s level. Trading in exchange-traded products (ETPs) and equities nearly reached the record figure set in 2015.…
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The Cyprus Securities and Exchange Commission (CySEC) just informed about the procedures in place regarding the receipt and follow-up of reports of infringement on market abuse (market abuse regulation). For the purposes of this circular and the completion of the Whistleblowing External Disclosure Form, CySEC announced that the following definitions shall apply: CySEC means the…
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As a part of Surveillance measures and based on the extant SEBI framework, the Exchanges transfer various securities for settlement on a Trade-to-Trade basis. The criteria for shifting securities to/from for settlement on trade to trade basis is decided in consultation with SEBI and applied uniformly across the stock exchanges and reviewed periodically. The detailed…
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