June 16, 2016 BY LeapRate Staff

FCA charges five people in £3 million boiler room investment fraud

Following an investigation by UK financial regulator the Financial Conduct Authority (FCA), five people have been charged with operating a boiler room scam. The five people charged are: Michael Nascimento (DOB: 28/06/1977) Hugh Edwards (DOB: 13/07/1982) Stuart Rea (DOB: 12/02/1968) Ryan Parker (previously known as Ryan Sell DOB 26/11/1992), and Jeannine Lewis (DOB: 15/09/1967). All…

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June 16, 2016 BY LeapRate Staff

FXSpotStream reports volumes off 11% MoM in May to $16.1 billion ADV

Multibank FX aggregation service FXSpotStream has reported that May volumes on its system averaged $16.1 billion (single count) daily, 10.7% below April's $18.0 billion but 26% more than last year May. FXSpotStream’s best-ever month was this past February, at $21 billion ADV. FXSpotStream is a wholly owned subsidiary of LiquidityMatch LLC (which is ultimately a bank owned…

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June 16, 2016 BY LeapRate Staff

CySEC warns on linking Broker pay to volumes, deposits or client P&L

Cyprus financial regulator CySEC has issued a directive regarding remuneration policies and practices at CIF licensed companies, which include the many regulated retail forex and binary options brokers on the island. While not directing an outright ban on such practices, CySEC stated that certain types of remuneration seem to create a conflict of interest with clients,…

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June 16, 2016 BY LeapRate Staff

Ashraf Ebid joins Asia-focused FCA regulated broker Global Market Index as CEO - LeapRate Exclusive

LeapRate Exclusive... LeapRate has learned that longtime Forex industry executive Ashraf Ebid has joined FCA regulated retail forex broker Global Market Index Limited (or GMI) as its new CEO. GMI was co-founded by Chinese entrepreneur Jeff Chao, who is the firm’s current President. GMI started its brokerage services in 2009 with a heavy focus on the Asia…

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June 16, 2016 BY LeapRate Staff

Hantec Markets' Richard Perry puts Brexit in perspective for traders

Brexit, Brexit, Brexit.... As next Thursday's vote gets closer and the outcome of the UK referendum still seems uncertain, it has been impossible to avoid the topic of Brexit in virtually every form of media. On this morning's FT.com home page alone you can read Blue-chips threaten Leave camp over logos, or Next steps after Brexit, How would…

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June 16, 2016 BY LeapRate Staff

Tradair uses ELK data visualization tools to reduce issue diagnostic times

eFX trading technology solutions provider TradAir has announced that it has cut 'issue diagnostic' times by around 90%, following implementation of open-source monitoring and diagnostic tools. The tools combine open-source projects Logstash and Kibana, with data visualization tools from ELK – ‘Elasticsearch’, which together enable seamless integration of platform, network and system log-data, that can be searched, analyzed…

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June 16, 2016 BY LeapRate Staff

Marex Spectron hires Matthew France from Morgan Stanley as Head of Institutional Sales Asia Metals

Global commodities broker Marex Spectron has continued to build its presence in Asia with the appointment of Matthew France (pictured at left) as Head of Institutional Sales, Metals, in Asia. Matthew France joins Marex Spectron from Morgan Stanley (YSE:MS) where he was an Executive Director managing the firm’s Asian Metals business. Reporting into the Global Head…

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June 15, 2016 BY LeapRate Staff

Forex platform partnership: X Open Hub liquidity integrated into PFSOFT’s Protrader brokerage solution

Big news in the Forex platform provider world... Forex broker technology providers X Open Hub, part of the X Trade Brokers Dom Maklerski SA (WSE:XTB) group which operates FCA regulated brokerage XTB.com, and PFSOFT have announced a partnership whereby X Open Hub's liquidity and market data will be integrated into PFSOFT’s Protrader brokerage solution. X Open Hub had…

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June 15, 2016 BY LeapRate Staff

Taiwan ETF explosion: ETFs now account for 10% of TWSE turnover

The Taiwan Stock Exchange announced today that since the Taiwan Financial Supervisory Commission (FSC) adjusted regulations to allow the listing of more diverse exchange-traded products in 2014, Taiwan’s ETF market has grown rapidly and now accounts for 10% of total turnover on the TWSE, compared to only 1.9% in 2014. As of the end of May 2016, more than USD $7.64…

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