It has been a tough month for Payday loan providers. After Google decided to ban online ads for Payday lenders, comes news that today the US government is looking to unveil new rules to regulate the industry. Some industry observers believe that the 'new rules', if implemented, could drive the lenders out of business entirely,…
Read moreFCA regulated online broker CMC Markets Plc (LON:CMCX) has announced that it will be included as a constituent of the FTSE 250 Index effective later this month. The inclusion was announced by FTSE Russell yesterday and will take effect from the start of trading on Monday June 20, 2016. This follows CMC Markets' Initial Public Offering with…
Read moreRetail forex broker OANDA has announced that Kazuaki 'Kaz' Takabatake has joined the firm as Managing Director and CEO of its Asia Pacific operations. Takabatake will be based in Singapore. He will be responsible for driving OANDA’s continued growth across the APAC region. He replaces Rajesh Yohannan, who had been APAC head for OANDA also out of Singapore since 2013.…
Read moreLeapRate has learned that the National Futures Association (NFA) has just sent a letter to the Commodity Futures Trading Commission (CFTC), in which if within 10 days no review is requested, the transaction fee is set to increase for each order segment a Forex Dealer Member (FDM) submits to NFA's Forex Transaction Reporting Execution Surveillance…
Read moreCME Group (NASDAQ: CME), the world's leading and most diverse derivatives marketplace, announced that Chicago Mercantile Exchange Inc. (CME) has been formally granted the status of Foreign Clearing Organisation (FCO) by the Prime Minister of Japan on 1 June 2016. With this FCO status, the clearing house division of CME, CME Clearing, is now able to clear non-Yen interest rate swaps on behalf…
Read moreContinuing its crackdown on money laundering issues at brokerage firms, the U.S. Securities and Exchange Commission (SEC) charged a Wall Street-based brokerage firm with failing to sufficiently evaluate or monitor customers’ trading for suspicious activity as required under the federal securities laws. An SEC investigation found that Albert Fried & Company failed to file Suspicious Activity…
Read moreThe U.S. Commodity Futures Trading Commission (CFTC) has announced that its staff will hold a public roundtable meeting, to discuss certain elements of the Commission’s notice of proposed rulemaking regarding Regulation Automated Trading (Regulation AT), including Algo trading. The Regulation AT proposed rules were initially published on December 17, 2015. The CFTC also intends to shortly announce the…
Read moreInteractive Brokers Group, Inc. (NASDAQ GS: IBKR) an automated global electronic broker and market maker, today reported its Electronic Brokerage monthly performance metrics for May. Highlights for the month included: 641 thousand Daily Average Revenue Trades (DARTs), 4% higher than prior year and 3% lower than prior month. Ending client equity of $72.5 billion, 9%…
Read moreCME Group (NASDAQ: CME) today notified traders that effective Sunday, July 10, 2016 for trade date Monday, July 11, 2016, and pending all relevant CFTC regulatory review periods, CME will reduce the price increment of the Canadian Dollar/US Dollar futures contract down to a half tick commencing with the September 2016 contract month and beyond. Specifically,…
Read moreBloomberg is reporting that Goldman Sachs Group Inc (NYSE:GS) has cut dozens of investment banking jobs in the last few weeks, joining securities firms that are adjusting to a slowdown in trading volume and deal activity. Goldman apparently eliminated eliminated dozens of senior positions including Managing Directors, Executive Directors and Vice Presidents across the mergers and debt and…
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