Cboe
December 22, 2022 BY Steffy Bogdanova

Cboe names Vikesh Patel President of Cboe Clear Europe

Prior to that, Patel was a Chief Operating Officer at LCH, where he focused on strategy, risk management and the development of new products for the clearing organisation's EquityClear and RepoClear businesses. Additionally, Patel has also held global executive roles at Goldman Sachs and Morgan Stanley, focusing on market infrastructure and post-trade strategy. His career…

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December 22, 2022 BY Steffy Bogdanova

Mads Dorf Petersen appointed as Saxo Bank CFO

Having joined the bank in 2009, Mads Dorf Petersen has held various leadership roles within finance including Head of Business Planning and Analysis and Deputy Head of Group Finance. Most recently, he served as Head of Commercial Finance at Saxo. Mads Dorf Petersen, CFO commented: I am excited and proud to take on this role,…

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Monex Europe new hire
December 21, 2022 BY Steffy Bogdanova

Tim Philip joins Monex Europe as Global Operations Director

Philip brings more than two decades of experience to Monex Europe. Most recently, he served as Global Chief Operating Officer at fintech Salary Finance Ltd, where he spent seven years. Moreover, Philip helped found the firm and as COO, he spearheaded team-led developments across the business scaling it up. Additionally, he also worked in senior…

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Japanese Yen
December 21, 2022 BY Steffy Bogdanova

Daily market commentary: The yen remains the centre of attention as markets digest Bank of Japan’s decision

European Shares Benchmarks extended Tuesday’s gains in Europe this morning, alongside US futures, providing investors with a little relief following one of the most bearish week in months for equities. Both French and German indices lead the way on the old continent, driving the STOXX-50 index above the 3,800 pts mark as bull traders managed…

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FMA
December 21, 2022 BY Steffy Bogdanova

FMA sues Tiger Brokers for AML/CFT breaches

Margot Gatland, FMA Head of Enforcement, said: The anti-money laundering and counter financing of terrorism regime is an important pillar to maintaining the integrity of New Zealand’s financial markets, so we take non-compliance seriously. Our case alleges Tiger Brokers failed to appropriately vet customers, respond to activities that should have raised concerns, and maintain records…

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CFTC
December 21, 2022 BY Steffy Bogdanova

CFTC fines CHS Hedging $6.5 million for supervision failures

The CFTC stated that one of CHS Hedging’s customers engaged in speculative trading that sustained millions of dollars in losses in their company account from January 2017 through December 2020. The customer and their company made margin payments of more than $147 million to CHS Hedging over the course of that period. The CFTC found…

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Infinox
December 20, 2022 BY Steffy Bogdanova

Infinox Capital sees a 105% increase in revenue in FY22

According to the official filing, the broker’s pre-tax profit skyrocketed 362% to £1.34 million from £290,719 in the previous year. Infinox recorded net profit of £1.06 million for the year. Тhe client assets under management for the period rose to more than £14.3 million, registering a 65% compared to the previous year’s £8.68 million. The…

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December 20, 2022 BY Steffy Bogdanova

FCA fines TSB £48.65 million operational resilience lapses

TSB’s IT migration plan was ambitious and complex, carrying a high level of risk. The FCA noted that the company failed to organise and control the migration process adequately. Both agencies, the FCA and PRA prioritise operational resilience. Mark Steward, FCA Executive Director of Enforcement and Market Oversight said: The failings in this case were…

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