Market Misconduct Tribunal fines AcrossAsia Limited, its former chairman and CEO a sum of $2 million LeapRate

November 30, 2016 BY Valentina Kirilova

Market Misconduct Tribunal fines AcrossAsia Limited, its former chairman and CEO a sum of $2 million

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).…

November 30, 2016 BY LeapRate Staff

CySEC instructs retail brokers to halt bonus promotions, cap leverage at 50x

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…

November 30, 2016 BY Valentina Kirilova

Greek broker Eurobank Equities implements Horizon Software for auto trading and market making

Horizon Software, a global technology provider for electronic trading and investment management, has announced today that Eurobank Equities, the brokerage arm of Eurobank, one of the four systemic banks in Greece, has gone live with Horizon Software. Eurobank Equities chose Horizon’s Platform for Automated Trading for click trading, market making and agency trading on the Athens…

November 30, 2016 BY Valentina Kirilova

Saxo Bank launches new combination order ticket for options trading

Global broker Saxo Bank just announced that it is launching a combination order ticket for all clients trading contract options. The combination order ticket will enable clients to deploy multi-legged option strategies by simultaneously placing orders to buy and/or sell different options from the same order ticket. Georgio Stoev, Futures and Listed Options Product Manager,…

Corda Network announces Board of Directors

November 30, 2016 BY Valentina Kirilova

R3 offers global developer community opensource access to Corda distributed ledger platform

Financial innovation company R3 has made its Corda distributed ledger platform open source, granting the global developer community universal access to its source code to encourage collaboration, review and contribution to the platform. Corda was built in close collaboration with over 70 banks and financial institutions and is already by far the biggest collaborative effort…

November 30, 2016 BY Valentina Kirilova

OPEC begins debate on oil cuts

Organization of the Petroleum Exporting Countries (OPEC) meeting began on Wednesday in Vienna. Oil producers will try to agree on a production cut to bolster prices which have plunged by more than half since 2014, with Iran and Iraq resisting pressure from Saudi Arabia to participate fully in any action, as reported by Reuters. On…

November 30, 2016 BY Valentina Kirilova

Japan’s SBI adds smartTrade’s LiquidityFX market making pricing and distribution modules

smartTrade Technologies, a multi-asset electronic trading solutions company, has just announced that SBI Liquidity Market, a Japanese FX infrastructure solution and liquidity provider, complemented its FX platform based on smartTrade's LiquidityFX. SBI Liquidity Market is adding smartTrade’s sophisticated market making solution to the existing implementation of LiquidityFX connectivity, aggregation and order routing in order to…

November 30, 2016 BY LeapRate Staff

Retail Forex broker One Financial Markets receives SFC license, opens Hong Kong office

Retail Forex broker One Financial Markets has announced another step in its global expansion, receiving Securities and Futures Commission (SFC) regulatory status in Hong Kong. One Financial Markets has been granted permission to establish a new flagship office in Hong Kong, which will service all clients based in China and the South-East Asia region. Ashley Clarke,…

November 30, 2016 BY Valentina Kirilova

NFA increases margin requirements on Peso, Yen and NZD Forex futures

In the beginning of November, the NFA has issued a directive to all licensed forex brokers in the country, indicating that they must cut leverage and raise margin requirements on all GBP currency pairs. Now, the National Futures Association has made a similar move with some other foreign currency futures including the Japanese Yen. Notice I-16-27 Immediate attention…

November 30, 2016 BY Valentina Kirilova

OptionsCity launches CityTrader Mobile, Native iOS Futures and Options Trading application

Provider of futures and options trading and analytics solutions OptionsCity Software has just announced a brand new mobile version of its cloud-based futures trading platform, CityTrader. CityTrader Mobile offers the same intuitive functionality as its desktop counterpart, such as futures and options trade execution, custom spread-building and RFQs, with the ease of an on-the-go iPhone…