FCA issues ‘Dear Broker CEO’ letter outlining problems with onboarding CFD trading clients LeapRate

February 02, 2016 BY Maria Nikolova

FCA issues 'Dear Broker CEO' letter outlining problems with onboarding CFD trading clients

The UK Financial Conduct Authority (FCA) has issued a 'Dear Broker CEO' letter specifying problematic areas regarding onboarding of clients by UK CFD brokers. The letter, signed by Megan Butler, Executive Director of Supervision Investment, Wholesale & Specialists Division, is published after an FCA review of the procedures for taking on new clients in a…

February 02, 2016 BY Maria Nikolova

KVB Kunlun issues positive profit alert for 2015 thanks to higher trading volumes

Hong Kong Forex broker KVB Kunlun Financial Group Ltd (HKG:8077) today issued a positive profit alert for the full year to December 31, 2015, on the back of increased trading activity. In today's announcement, the Board forecasts that broker will register “a significant increase in profit attributable to equity holders of the Company for the…

February 02, 2016 BY Maria Nikolova

Bank of Russia cancels qualification certificates of notorious Kim Karapetyan

The Bank of Russia finally made a move to cancel the qualification certificates of Kim Karapetyan, the notorious chief executive of BlackField Capital, once an algo trading company based in Moscow. The Russian “Megaregulator” announced today that Mr Karapetyan is no longer qualified as “a financial market specialist in broker, dealer and securities management activities”. The…

February 02, 2016 BY Maria Nikolova

Saxo Payments adds six new currencies to the Banking Circle offering

Saxo Payments, the global transactions services provider which is part of Saxo Bank, today announces the expansion of the reach of the Saxo Payments Banking Circle through the addition of six new currencies. In response to customer demand, Banking Circle transfers can now be carried out in United Arab Emirates Dirham (AED), Hong Kong Dollar…

February 02, 2016 BY Maria Nikolova

ICAP's EBS Treasury to help UK local authorities in lending and borrowing

EBS BrokerTec, the electronic Forex and fixed income business of ICAP plc (LON:IAP), announces today that EBS Treasury (known previously as MyTreasury), the liquidity management platform for the corporate treasury community, has been chosen by the UK Municipal Bonds Agency (MBA) to offer electronic inter-authority lending and borrowing in the UK. The platform will support…

February 02, 2016 BY Maria Nikolova

CySEC puts on hold its scheme for accelerated authorization of investment firms

The Cyprus Securities and Exchange Commission (CySEC) today announced that, at its meeting held on January 25, 2016, it decided to temporarily suspend the ‘fast track’ examination scheme that was launched to help investment firms get their Cypriot authorization faster. The Commission said it reached the decision to put the program on hold due to the…

February 02, 2016 BY LeapRate Staff

Playtech looking at OpenBet acquisition after being spurned by Plus500 and AvaTrade

After failing to acquire retail forex brokers Plus500 Ltd (LON:PLUS) and AvaTrade late last year in deals which would have totaled more than $800 million, online gaming and forex giant Playtech PLC (LON:PTEC) is apparently returning its M&A appetite to its core business of online gaming platforms and the possible acquisition of rival OpenBet. Owned by…

February 02, 2016 BY Maria Nikolova

Technician teams up with Tradable to bolster Forex trading, analysis experience

Technician App has integrated with Tradable, enabling a new level of top-quality Forex trading and analysis experience. Technician app users are now able to trade from the chart. Technician, powered by ChartIQ, was first launched in July last year as a personal trading and analysis tool for mobile, tablet, and desktop devices. The free app provides…

February 02, 2016 BY Maria Nikolova

Paddy Power, Betfair announce merger completion

Following the court approval of the proposed merger of online betting operators Paddy Power plc and Betfair Group plc, the deal was today completed. As a result, there is a new combined entity named Paddy Power Betfair plc, operating from https://www.paddypowerbetfair.com. Trading in the Betfair Shares on the London Stock Exchange's market for listed securities and…

February 02, 2016 BY Maria Nikolova

EXNESS registers Forex volumes of $197.3B in January 2016, up 9.6% MoM

Retail Forex broker EXNESS, being a true proponent of transparency, keeps publishing details about its monthly performance. The company has just reported a set of rather solid metrics for January 2016, with both FX volumes and new account numbers increasing in the first month of the new year. EXNESS reported monthly Forex volumes of $197.3…