Copenhagen-based multi asset online broker Saxo Bank has announced that it has agreed to sell its Uruguayan subsidiary, Saxo Capital Markets Agente de Valores, to DIF Broker, a long term White Label of Saxo Bank. The transaction has been approved by the relevant regulatory authorities and is expected to close before year end. Saxo Bank has…
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European Parliament head Martin Schulz demanded that the role laid out for MEPs in the Brexit negotiations be beefed up, threatening otherwise to reject any resulting deal, Business Insider just reported. In a letter to EU President Donald Tusk, Schulz criticised draft plans for the process that would relegate the parliament to "a secondary role…
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Yesterday's 25 basis point rate hike by the US Fed was not exactly a surprise, yet the Fed's move clearly wasn't fully baked into the currency markets. Since the rate move the benchmark EURUSD has dropped by nearly 2% from the 1.065 range to below 1.05. It now looks like we may be heading toward…
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ASIC has released a new legislative instrument regarding on-market buy-backs of ASX-listed schemes, replacing the class order due to expire ('sunset') on 1 April 2018. ASIC has replaced Class Order [CO 07/422] with the new legislative instrument ASIC Corporations (ASX-listed Schemes On-market Buy-backs) Instrument 2016/1159. Class Order [CO 07/422] has been repealed by ASIC Corporations…
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Commodities and Forex broker INTL FCStone Inc. (NASDAQ:INTL) just announced its financial results for the fiscal fourth quarter and full fiscal year ended September 30, 2016. Sean M. O'Connor, CEO of INTL FCStone Inc., stated: We achieved continued good results in the fourth quarter, which was boosted by a bargain purchase gain on the Sterne…
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Following an ASIC investigation, Mr Shun Yuen Ken Li (also known as Leo Lee), of Roseville Chase, New South Wales has pleaded guilty in the Downing Centre Local Court on two charges of dishonestly using his position as an employee. Mr Li, 37, is accused of using his position as an employee of the Australia…
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Continuing its string of warnings against unregulated brokers and other scams targeting retail traders in Canada, Canadian securities regulator the British Columbia Securities Commission (BCSC) has added to its Investment Caution List binary broker BinaryOnline at website binaryonline.com, owned and operated by Zola Ltd. According to the BCSC, BinaryOnline claims to be a binary options trading…
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Cyprus regulated brokerage FIBO Group today announced that with the help of the Skrill payment system, the company has implemented an automatic deposit of funds option. Automatic deposit of funds to trading accounts is now available for all FIBO Group clients if the email address in Skrill's system and in the Fibo Group Client Cabinet is…
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Instinet today announced that it successfully integrated U.S. equity research and sales into its cash equities platform, creating a multi-sector boutique research offering. Instinet initially announced its intent to offer U.S. equity research and sales services in June of 2016. Mark Govoni, President of Instinet stated: This strategic move is aligned with a number of…
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The U.S. Commodity Futures Trading Commission (CFTC) today announced that on December 9, 2016, the Honorable Sara L. Ellis of the U.S. District Court for the Northern District of Illinois issued an Opinion and Order (Order) finding that Defendant Yumin Li stole in excess of $300,000 from Li’s former employer by trading the employer’s account…
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