September 28, 2016 BY Mike Fox

China Construction Bank appoints SIX for Swiss Renminbi Clearing

China Construction Bank (CCB), China’s second largest commercial bank and the only authorized Renminbi Clearing Bank in Switzerland, announced its plans to work more closely with SIX Securities Services, the Swiss post-trade infrastructure. This cooperation has so far led to CCB and its Zurich Branch working with SIX Securities Services entities: Swiss Interbank Clearing (SIC)…

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September 27, 2016 BY LeapRate Staff

CFTC issues $940,000 fine to trading education provider Advanced Trading Workshop for fraud

The U.S. Commodity Futures Trading Commission today issued an Order filing and simultaneously settling charges against Advanced Trading Workshop, Inc. (ATW) of Jamesville, New York, for fraudulently soliciting clients and prospective clients to purchase access to an online trading room and failing to register with the CFTC as a Commodity Trading Advisor (CTA) as required.…

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September 27, 2016 BY Valentina Kirilova

Thomson Reuters and Clifford Chance team up to deliver OTC derivatives documentation solutions

Business information giant Thomson Reuters Corp (NYSE:TRI) and Clifford Chance law firm have joined forces to help global financial institutions tackle in a timely, efficient and more cost-effective manner their most pressing regulatory obligations relating to margin rules for uncleared over-the-counter (OTC) derivatives. Pressure on both buy-side and sell-side financial institutions is growing as new regulatory…

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September 27, 2016 BY Valentina Kirilova

Fiserv partners with FCTI to drive 8,000 ATM terminals for convenience retailer's U.S. stores

Fiserv, Inc. (NASDAQ: FISV), a provider of financial services technology solutions, has partnered with FCTI Inc., ATM network company, to provide transaction processing for nearly 8,000 ATM terminals at franchise- and corporate-owned 7-Eleven stores across the United States. Through the partnership, Fiserv will provide ATM device driving, transaction authorization, network gateway access and switching and…

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September 27, 2016 BY Valentina Kirilova

Hong Kong SFC adds Lead Capital Partners to its alert list

Hong Kong’s financial regulator the Securities and Futures Commission (SFC) has updated its Alert List, which features the names of businesses that are unlicensed in Hong Kong and are believed to be, or to have been, targeting Hong Kong investors or claim to have an association with Hong Kong. Added to the SFC Alert List…

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September 27, 2016 BY Valentina Kirilova

INTL FCStone's Global Payments Division launches financial information exchange protocol for cross-border payments platform

INTL FCStone Inc. (NASDAQ: INTL) has announced that its London-based subsidiary, INTL FCStone Ltd's Global Payments Division (GPD), launched a financial information exchange (FIX) protocol, which is integrated with its proprietary FXecute global payments platform. The FIX protocol is an electronic communication method for the real-time exchange of information, and its integration with FXecute marks…

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September 27, 2016 BY Valentina Kirilova

Merrill Lynch charged with trading controls failures that led to mini-flash crashes

The Securities and Exchange Commission (SEC) has announced that banking company Merrill Lynch has agreed to pay a $12.5 million penalty for maintaining ineffective trading controls that failed to prevent erroneous orders from being sent to the markets and causing mini-flash crashes. An SEC investigation found that Merrill Lynch caused market disruptions on at least 15 occasions…

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