The Australian Securities Exchange Ltd, (ASX) has announced that the ASX Board has appointed Mr Dominic Stevens as its Managing Director and CEO. He takes up his new role today. Since the resignation of former CEO Mr Elmer Funke Kupper, this appointment has been following a comprehensive selection process undertaken by the ASX Board with…
Read moreEBS BrokerTec, ICAP Plc’s (LON: IAP)’s electronic fixed income and foreign exchange (FX) business, has announced that it has hired senior fixed income professional, Nicole Shumpert from Tradeweb, to bolster its BrokerTec Direct team. BrokerTec Direct is a new service which provides relationship-based, disclosed liquidity to the fixed income market. The service leverages the EBS Direct…
Read moreSingapore Exchange (SGX) iron ore derivative volumes totaled 118.8 mil mt in July, while open interest averaged 186.7 mil mt during the month. The suite of ferrous products has provided market participants with a wide range of trading strategies and risk management solutions. 62% Fe spot iron ore averaged $56.61 per tonne in July, up…
Read moreIn response to decreased trading volume in the US market, online trading services provider Monex Group, Inc. (TYO:8698) has reduced 40 headcounts in April 2016 and more than 60 headcounts on July 27, 2016. The company has also launched the TradeStation trading platform in Japan in March 2016. First-ever functions in Japan have been well received…
Read moreContinuing a trend of what we believe will be volume declines at many of the leading retail and institutional FX platforms this month, the Hotspot FX unit of Bats Global Markets Inc (BATS:BATS) has reported that volumes averaged $26.2 billion per day in July - down 9% from June's $28.8 billion ADV. We'd note in making the comparison,…
Read moreThe Ontario Securities Commission (OSC) has approved a no-contest settlement agreement with Scotia Capital Inc., Scotia Securities Inc. and HollisWealth Advisory Services Inc. (the Scotia Dealers) in relation to a matter that the Scotia Dealers discovered and self-reported to the OSC and that resulted in certain clients paying excess fees. This settlement follows allegations by OSC…
Read moreUK financial regulator Financial Conduct Authority (FCA) has issued its latest warning against an unregulated financial services provider targeting UK consumers. The FCA’s latest warning is against Costello & Rubin LLP firm, operating from website www.candr-lawyers.com. The firm has been providing financial services or products in the UK without FCA’s authorisation. FCA has warned that…
Read moreASIC has announced the appointment of Mr Simon Gray as the new Chairman of the Markets Disciplinary Panel, to serve a two-year term from August 1, 2016. The Markets Disciplinary Panel (MDP) is an independent peer-review forum for disciplinary action against market participants and market operators for alleged breaches of the ASIC market integrity rules. Mr…
Read moreThe Tokyo Financial Exchange (TFX) has published its operating metrics for July 2016 and the Forex volumes keep dropping despite last month’s rise. The trading volume of 3-month Euroyen futures was 167,816, which means -19% MoM or 52.5% YoY change. Its average daily volume for July 2016 was 8,391. The total trading volume of Exchange FX…
Read moreGTX, the institutional FX arm of retail forex broker Gain Capital Holdings Inc (NYSE:GCAP), has reported that July FX volumes decreased by 13% MoM from June levels, coming in at $10.5 billion ADV. In the 'big picture', however, July was still a fairly good month at GTX - remember that June's volumes were up 24% MoM…
Read more