June 03, 2016 BY Mike Fox

China Foreign Exchange Trade System chooses ICAP’s EBS BrokerTec

ICAP plc (LON: IAP), a leading markets operator and provider of post trade risk mitigation and information services, announces today that China Foreign Exchange Trade System (CFETS), China’s official inter-bank market trading platform and infrastructure provider, has chosen ICAP to deliver the underlying technology for fixed income and Forex electronic execution services in mainland China.…

Read more
June 03, 2016 BY Mike Fox

SEC charges NYC Forex trader who lied on track record, hid millions in losses

The Securities and Exchange Commission today charged a New York City-based trader with defrauding investors out of millions of dollars by misrepresenting her investment track record, the profitability of her investments, and her use of investor funds. The SEC alleges that Haena Park and her firm - referred to as "Phaetra" and/or "Argenta" - touted her supposedly…

Read more
June 03, 2016 BY Mike Fox

CFTC fines Bitcoin exchange Bitfinex $75K to for failing to register as FCM

The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Hong Kong-based bitcoin exchange, BFXNA Inc. DBA Bitfinex, for offering illegal off-exchange financed retail commodity transactions in bitcoin and other cryptocurrencies, and for failing to register as a Futures Commission Merchant (FCM) as required by the Commodity Exchange Act…

Read more
June 02, 2016 BY Mike Fox

E-Trade fined by FINRA $900K for best execution and client order information violations

The Financial Industry Regulatory Authority (FINRA) announced today that it has censured and fined E*TRADE Financial Corp (NASDAQ: ETFC) $900,000 for failing to conduct an adequate review of the quality of execution of its customers’ orders and for supervisory deficiencies concerning the protection of customer order information. E*Trade provides online securities investing and trading services for…

Read more
June 02, 2016 BY Mike Fox

Moscow Exchange Forex volumes fall 11% MoM in May

Moscow Exchange (MOEX) announced today trading volumes for May 2016. Total trading volumes on the exchange increased by 33.5% YoY to RUB 58.1 trln. The Derivatives Market and Money Market posted the strongest growth, with volumes increasing 76.1% and 57.9% YoY, respectively. Trading volumes increased by 14.1% YoY on the FX Market, 5.2% YOY on the Equity…

Read more
June 02, 2016 BY Mike Fox

CME Forex volumes creep down 7% MoM, EM sees increase

CME Group Inc (NASDAQ: CME), the world's leading and most diverse derivatives marketplace, today announced that May 2016 overall volume averaged 14.9 million contracts per day, up 6 percent from May 2015. CME Group May 2016 options volume averaged 2.8 million contracts per day, up 10 percent versus May 2015, with electronic options averaging 1.6 million contracts per day,…

Read more
June 02, 2016 BY LeapRate Staff

R3 distributed ledger consortium continues Asia expansion as AIA Group joins

AIA Group Ltd (HKG:1299), the largest independent publicly listed pan-Asian life insurance group with assets of $168 billion, has joined R3, the financial innovation firm partnership. R3 is designing and applying distributed and shared ledger-inspired technologies to global financial markets. We had reported last week that Ping An became the first Chinese institution to join R3. AIA…

Read more
June 02, 2016 BY Mike Fox

Santander launches international payments app using blockchain

British bank Santander UK plc, wholly owned by the Spanish Santander Group (BME: SAN) announced they are the first UK bank to introduce blockchain technology which facilitates international payments, through a new app. It is currently being rolled out as a staff pilot, with the intention to expand the technology at a later date. Once the…

Read more
June 02, 2016 BY LeapRate Staff

CMC Markets added to FTSE 250 Index

FCA 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 more