LeapRate has learned via filings made to the London Stock Exchange that global investment bank Morgan Stanley (NYSE:MS) has sold down its stake in FCA regulated retail forex and CFD broker Plus500 Ltd (LON:PLUS) to below 3%. Morgan Stanley had been the second or third largest outside shareholder in Plus500 at just under 7%, after UK investment manager…
Read moreForex industry news at LeapRate this past week saw extraneous factors causing changes in the Retail Forex sector once again. There was our exclusive report on details of Saxo Bank's plans cut leverage and increase margin requirements for clients due to the upcoming Brexit vote. LeapRate broke the story of Singapore-based Phillip Capital, which has been…
Read moreFollowing our earlier coverage that Cyprus financial regulator CySEC had instructed all regulated companies on the island to investigate any links to Mossack Fonseca, CySEC has now announced that following its review it believes that 63 regulated entities had and/or have a business relationship with Mossack Fonseca and/or with persons included in the Panama Papers. CySEC has collected data from…
Read moreThe following is a guest post courtesy of Jon Hodgson, Global Account Director at mobile apps acceleration solutions provider Neumob. Jon works closely with large finance and FTSE100 organisations and has nearly a decade's worth of enterprise sales experience across EMEA, the US and Asia. Prior to joining Neumob, Jon was a top European sales rep at Akamai, CDNetworks and 1E. In…
Read moreGMO-Z.com Forex HK Limited, authorised and regulated by the Hong Kong Securities and Futures Commission today announced they will be changing the names of its forex trading applications - both desktop and mobile. The mobile applications ClickTrade and iClickTrade will be consolidated into "Z.com Trader Mobile", while the desktop application WebTrader will be replaced by the name "Z.com Trader…
Read moreThe Stock Exchange of Hong Kong Limited (the Exchange), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEX), has issued a guidance letter (GL) on initial public offering (IPO) vetting and suitability for listing. The Exchange has noted that there have been a number of newly listed issuers' controlling shareholders which either sold,…
Read moreContinuing a down trend we've seen across the Forex trading universe in May, Japanese online brokerage leader GMO Click Securities, a subsidiary of GMO Click Holdings Inc (TYO:7177), has just published its key operating metrics for May 2016, with volumes generally down from April levels. Both OTC and on-exchange trading volumes took a dive in May,…
Read moreContinuing its charge (no pun intended) to grow its business outside of its core online industry base, payments solutions provider SafeCharge International Group Ltd (LON:SCH) has announced that El Al Israel Airlines Ltd. (TLV:ELAL), Israel’s national airline, has selected SafeCharge’s advanced payments system. SafeCharge recently hired Barclaycard's Phil Atherton as its new Chief Risk Officer (CRO), also clearly…
Read moreLeapRate Exclusive... Further to our exclusive coverage of Saxo Bank's plans to curtail leverage provided to clients in FX trading leading up to the June 23 Brexit vote in the UK, LeapRate has learned some more specifics of the leverage restrictions and new margin requirements at Saxo. The leverage restrictions and increased margin requirements are…
Read moreOnline trading services provider Monex Group, Inc. (TYO:8698) has just published its key operating metrics for May 2016, with the broker no longer reporting global Forex volumes following the transfer of OTC FX accounts offered by the FX companies of TradeStation Group to OANDA Corporation and OANDA Australia Pty Ltd in March. Monex’s FX volumes now comprise…
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