Quebec court has imposed a fine of CAD 1.54 million (USD 1.12 million) on Alain André Desarzens, an operator of a high-yield investment program. The legal decision comes after an investigation by the Quebec financial markets regulator AMF, which showed that Mr Desarzens was running numerous HYIP promotions online and via emails. He was promising…
Read moreMajor online trading services provider CMC Markets plc, which is getting closer to an initial public offering on the London Stock Exchange, has just provided an update regarding the pricing of the offer. CMC Markets today announces the successful pricing of its IPO, with the Offer price set at 240 pence per ordinary share. This gives…
Read moreThe U.S. Commodity Futures Trading Commission (CFTC) today announced that a federal court in Fort Lauderdale, Florida, issued a Consent Order against Defendant Robert Tripode of Boynton Beach, Florida, in connection with his fraudulent activities as an employee and agent of Forex Monthly Income Fund (FMIF), a commodity pool based in Miami, Florida. The Order…
Read moreUS regulators have once again acted against violations of the Dodd-Frank Act, and the provision against financed precious metals transactions carried on off-exchange, in particular. The U.S. Commodity Futures Trading Commission (CFTC) has just announced that the U.S. District Court for the Southern District of Florida entered a Consent Order of Permanent Injunction against Florida-based…
Read moreCME Group Inc (NASDAQ:CME) the world's leading and most diverse derivatives marketplace, today announced it set a total open interest record of 110.1 million on February 3rd. The new record surpassed the previous open interest record of 108.9 million contracts set on November 13, 2014. "We are seeing a number of geopolitical and macro-economic events impacting our…
Read moreTransferWise announced today it now supports Chinese Yuan (CNY) transfers to Chinese UnionPay card accounts. The service starts off with a fee starting from ¥24 ($3.65). China is currently the most expensive major currency corridor, according to the World Bank, with the average cost of sending $200 (£140) from the UK to China standing at…
Read moreJanuary numbers reflect the increasing use of derivatives to hedge forex volatility particularly in emerging market currencies such as the Indian Rupee and South African Rand. Market participants appreciated the cost effective investment mechanism provided by Indian Rupee Options. Rupee Options volumes grew by 352% in January 2016 vs. January 2015. The Dubai Gold & Commodities…
Read moreThe UK Competition & Markets Authority (CMA) today published an Issues Statement as a part of its review of the anticipated merger between Ladbrokes PLC (LON:LAD) and certain businesses of Gala Coral Group Limited. Several paragraphs of the statement are dedicated to Playtech PLC (LON:PTEC), which provides Ladbrokes and Gala Coral, as well as other…
Read moreRetail Forex broker RoboForex is about to change the trading conditions for Pro-Cent accounts for the MetaTrader 4 (MT4) platform. From February 8, 2016, onwards, the minimum order size for trades from such accounts will rise from its current level of 0.01 lots to 0.1 lots. The broker explains that the change stems from the performance…
Read moreOperator of global exchanges and clearing houses and provider of data and listings services Intercontinental Exchange Inc (NYSE:ICE) has just published its financial report for the full year to December 31, 2015. The company reported total revenues of $4.68 billion for 2015, up 7.6% from the result of $4.35 billion reported in 2014. Net income…
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