MultiCharts platform no longer available to MB Trading clients after Tradeking deal LeapRate

October 20, 2015 BY Maria Nikolova

MultiCharts platform no longer available to MB Trading clients after Tradeking deal

Developers of online trading platform MultiCharts made an announcement on Monday regarding the availability of the services to clients of US brokerage MB Trading, which agreed to be acquired by Tradeking in August this year. MB Trading clients could use MultiCharts before the deal but after the transfer of Forex accounts from MB Trading to Tradeking, a…

October 20, 2015 BY Maria Nikolova

Forex error leads to Deutsche Bank sending $6bn to hedge fund client

An incident with many zeroes at the London-based Forex desk of Deutsche Bank AG (FRA:DBK) has added to concerns about risk and operational controls at the investment giant. According to a report by the Financial Times, the bank paid whooping $6 billion to a hedge fund client by mistake in June 2015. People familiar with…

October 20, 2015 BY Maria Nikolova

Australia introduces improved protections for client monies held at brokers

The Australian government has published its response to the Financial System Inquiry, outlining steps to bolster protection for client funds held at brokers. The report says that: The Government will develop legislative amendments to improve protections for client monies held in relation to derivatives. These improvements are needed to ensure that investors’ monies are adequately…

October 20, 2015 BY Maria Nikolova

Nodal Clear starts clearing Nodal Exchange contracts

Nodal Exchange, LLC on Monday announced the successful transition of 100% of the positions in Nodal Exchange contracts from the previous clearing house, LCH.Clearnet Limited, to Nodal Clear, LLC. Nodal Clear now functions as the central counterparty for all Nodal Exchange transactions. Twelve clearing members have been involved in the transition, which moved about 340…

October 20, 2015 BY Maria Nikolova

Hong Kong's SFC warns against unauthorized Forex broker CMIS Trader

Hong Kong's Securities and Futures Commission (SFC) has updated its Alert List, which includes the names of investment companies that are not authorized to target Hong Kong investors but have been identified to do so. The latest addition to the Alert List is CMIS Global Limited / CMIS Trader, a company offering a range of…

October 19, 2015 BY Mike Fox

ITG Appoints Frank Troise as CEO and President

Mr. Troise brings extensive experience in electronic trading to ITG. From 2010 until October 2015, Mr. Troise was a managing director at J.P. Morgan, most recently serving as head of J.P. Morgan Execution Services, a global multi-asset electronic execution group within the investment bank. ITG (NYSE:ITG), an independent execution broker and research provider, today announced…

October 19, 2015 BY Mike Fox

South Africa finds problems in FX trading but not by major dealing banks

On October 27th 2014, the South African Reserve Bank (SARB) and the Financial Services Board (FSB) announced the launch of a review of the Forex trading practices among authorized dealers in the South African Forex market which was published today. A Foreign Exchange Review Committee (FXRC) was established, headed by Mr. J Cross, former Senior Deputy…

October 19, 2015 BY Mike Fox

CFTC charges Chicago trader with spoofing and employment of a manipulative device while trading E-Mini S&P 500 and other futures

CFTC seeks civil monetary penalties, trading and registration bans, and permanent injunctions The U.S. Commodity Futures Trading Commission (CFTC) today filed a civil Complaint in the U.S. District Court for the Northern District of Illinois, charging Igor B. Oystacher and his proprietary trading company, 3 Red Trading LLC (3 Red), both of Chicago, Illinois, with…

October 19, 2015 BY LeapRate Staff

Poland looking at plan to mitigate Swiss Franc mortgage losses

It wasn't only retail forex brokers which got hit hard from the January Swiss Franc spike. The removal of an implied floor on the Franc by the Swiss National Bank back on January 15 - which sent the Swiss Franc soaring more than 20%+ against most other currencies - came as a surprise to many in…

October 19, 2015 BY LeapRate Staff

Morgan Stanley weakness in FX trading leads to poor Q3 results

Wall Street investment bank Morgan Stanley (NYSE:MS) reported Q3 results which disappointed investors, sending its shares diving about 6% in pre-market trading Monday. The culprit at Morgan Stanley which most street analysts are pointing to is the company's 17% drop in Trading Revenue during the quarter, with its clients staying away from the bond, currency and commodity markets.…