September 07, 2016 BY Valentina Kirilova

ING Bank to compensate Living Super customers due to potentially misleading costs and fees statements

ING Bank (Australia) Limited, the promoter and investment manager of the ING Direct Superannuation Fund (Living Super), will compensate around 24,500 members approximately $5.38 million following ASIC concerns that statements made in its promotional material about the fees paid in connection with its Living Super product were potentially misleading. In particular, ASIC was concerned that…

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September 07, 2016 BY Valentina Kirilova

Morgan Stanley pays $123,750 in infringement notice penalty

Morgan Stanley Australia Securities Limited has paid a penalty of $123,750 to comply with an infringement notice given to it by the Markets Disciplinary Panel (MDP). The MDP had reasonable grounds to believe that Morgan Stanley contravened subsection 798H(1) of the Corporations Act by reason of contravening a number of account reconciliation rules in Part…

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September 06, 2016 BY Mike Fox

FXPA welcomes Jump Trading as Governing Council Member of Forex trade group

The Foreign Exchange Professionals Association (FXPA) today announced the addition of Jump Trading as the newest Governing Council Member of the FX trade group. Jump Trading combines sophisticated quantitative research, best-in-class technology, and an entrepreneurial culture to create a leading global, quantitative-based trading firm. Jump has more than 500 employees across offices in Chicago, New York,…

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September 06, 2016 BY Mike Fox

BM&FBOVESPA becomes first exchange to join R3 distributed ledger consortium

São Paulo based financial exchange BM&FBOVESPA announced today it will be collaborating with over 60 of the world’s largest financial institutions to develop ground-breaking commercial applications for the financial services industry that leverage the appropriate elements of distributed and shared ledger technology. This initiative is part of the company’s strategy of supporting transformative projects that…

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September 06, 2016 BY Mike Fox

Virtual currencies unlikely to crowd out fiat currencies, according to new research

The SWIFT Institute has published a new research paper analysing whether Bitcoin will crowd out fiat currencies in the global community. The paper, entitled “Virtual currencies: Media of exchange or speculative assets?”, looks at the dynamic relationship between virtual currencies, such as Bitcoin, and fiat currencies, and evaluates any immediate risks that virtual currencies pose…

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September 06, 2016 BY Mike Fox

Match-Trade releases new MT4 White Label Manager Application

Match-Trade Technologies LLC, a Forex brokerage technology company headquartered in Irvine, California, is pleased to announce the launch of MT4 WL Manager application. This application is a broker specific business solution, which allows all White Label (WL) forex brokers to configure the most important business parameters of MT4 Servers in real-time. Match-Trade MT4 WL Manager…

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September 06, 2016 BY Mike Fox

Exness announces FCA license and launches plans to expand in Europe

Leading forex broker Exness is pleased to announce that its UK entity, Exness Europe Limited, has received regulatory approval from the Financial Conduct Authority (FCA), under Register number 730729. With its newly acquired FCA license, Exness, an international broker whose main client base is currently in Asia, the Middle East, and Africa, is set on…

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September 06, 2016 BY Mike Fox

ICAP EBS August volumes down 17.5% MoM to $68.4 billion ADV

Continuing the slow month of August FX volumes trend we have seen from a number of both retail and institutional eFX platforms, interdealer broker ICAP plc (LON:IAP) has reported that Forex volumes at its EBS subsidiary were down 17.5% MoM from July’s $83 billion to average $68.4 billion per day in August. This now marks the…

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