China cracks down on underground bank responsible for $64B of illicit FX transactions LeapRate

November 20, 2015 BY Maria Nikolova

China cracks down on underground bank responsible for $64B of illicit FX transactions

Police in east China's Zhejiang Province have broken the country's largest underground bank, which has carried out illegal Forex transactions of RMB 410 billion (US$64 billion), according to a report by Xinhua news agency, referring to sources at the Ministry of Public Security. The crackdown comes as a part of an investigation that started in September…

November 20, 2015 BY LeapRate Staff

Rumors of Tim Cartledge leaving ICAP's EBS BrokerTec after four days are untrue

LeapRate has learned that rumors circulating in London circles that Tim Cartledge has left his new job as Chief of Strategy at ICAP's EBS BrokerTec after only four days are simply untrue. Forex blog FX Week had posted a few hours ago (see at right) an article entitled 'Cartledge exits EBS four days appintment is announced' (editor's…

November 20, 2015 BY Maria Nikolova

Japan's Monex terminates outsourcing contract, replaces backbone brokerage system

Online trading services provider Monex Group, Inc. (TYO:8698) today announced that its Japanese brokerage Monex, Inc., will terminate an outsourcing contract regarding data system operation for the purpose of replacing its backbone brokerage system. The company also noted that certain expenses will be incurred as a result of the decision to terminate the outsourcing contract.…

November 20, 2015 BY Maria Nikolova

GWAZY platform now available in Russian language

GWAZY Ltd, the technology provider behind the GWAZY trading platform, on Thursday announced the addition of one more language – Russian. This way, the investment solution is now available in six languages, with Russian joining English, Chinese, Polish, Arabic, and Farsi. The availability of Polish language was unveiled earlier this month, as GWAZY announced a…

November 20, 2015 BY Maria Nikolova

Interactive Data, GlobalRisk partner to support CFTC’s derivatives supervision

Provider of low-latency technology and market data feed services Interactive Data has partnered with developer of risk management software GlobalRisk to support the derivatives oversight operations of the U.S. Commodity Futures Trading Commission (CFTC). The US regulator has issued a contract to get the additional tools to help it evaluate and monitor the risk exposures…

November 20, 2015 BY Maria Nikolova

ICE prices $2.5B offering of senior notes to fund acquisition of Interactive Data

International network of exchanges and clearing houses Intercontinental Exchange Inc (NYSE:ICE) on Thursday said it priced an underwritten public offering of $2.5 billion in new senior notes, with the proceeds to be used for funding the cash part of the acquisition of Interactive Data Corporation, announced last month. The senior notes comprise $1.25 billion in…

November 20, 2015 BY LeapRate Staff

Retail trader digs $106K hole in short position gone bad - and begs for help on GoFundMe

A lesson for all those trading on margin / with leverage or holding short positions... Joe Campbell, a retail trader with $37,000 and change in his E*Trade online trading account, woke up this morning owing E*Trade more than $106,000. The problem? Well it turns out that Joe kept a short position open on a down-on-its-luck…

November 19, 2015 BY Maria Nikolova

Bank of Russia says ready to postpone deadline for Forex licensing

As the end of the year gets closer so does the deadline for obtaining a Russian Forex dealer license or exit the Russian Forex market. However, the Bank of Russia, the Megaregulator responsible for the oversight of the Forex industry, seems to be warming up to postponing the licensing deadline. Bank of Russia's Deputy Governor…

November 19, 2015 BY LeapRate Staff

R3 names technology team, adds five more banks to its distributed ledger initiative

Financial innovation firm R3 has announced the team that will be in charge of designing and developing distributed ledger technology for the financial industry in partnership with its member banks. The team will be led by Richard Gendal Brown, who previously spent 15 years at IBM and is widely regarded as one of the leading…

November 19, 2015 BY Maria Nikolova

Myfxbook updates mobile application for iOS gadgets

Myfxbook, an expert in market analytics and social trading, on Wednesday released a new version of its mobile app for iOS gadgets – the first update to the solution for several months. The latest version of the app (1.200) offers the following improvements: New Portfolio Section; Bug Fixes; Interface improvements; Support for iOS 9.0. The…