March 26, 2014 BY Andrew Saks-McLeod

Santander UK receives £12.4 million penalty from FCA due to investment advice failings

UK division of European financial giant settles early with FCA to avoid fine of almost £17.7 million following FCA inspection which unearthed improper advice on investment products Amid the Financial Conduct Authority (FCA)'s current drive toward strengthening its regulatory stronghold over individuals and companies which offer financial advice to retail clients, the British regulatory authority…

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March 25, 2014 BY Gerald Segal

Perseus First to Offer trans-Atlantic Wireless Access; 33.84ms Milliseconds New York to Frankfurt

Perseus provides many of the world’s fastest market-to-market routes Perseus Telecom has announced that it will offer trans-Atlantic Wireless Access; 33.84ms Milliseconds New York to Frankfurt. The service is accessible from NY4 to Frankfurt FR2 data centres with the performance on the link at 67.68ms RTD currently, reducing to 67.39ms RTD in July 2014 with…

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March 25, 2014 BY Gerald Segal

Australian CFD broker FP Markets connects to LMAX liquidity

Australian broker FP Markets beefs up FX execution with LMAX In an effort to boost its FX offering to clients FP Markets (FPM) out of Australia has partnered with LMAX Exchange. Matthew Murphie, Managing Director of FP Markets commented in the press release: “We are thrilled to have teamed up with LMAX Exchange as their…

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March 25, 2014 BY Andrew Saks-McLeod

Guest Editorial: Strategy and Product over Pretty Ads

FX marketing professional Bart Burggraaf of MediaGroup London explains why product and strategy matters more than pretty advertisements I am willing to concede that product and strategy can flow from a great creative idea and that in the past many major advertising successes came from a Creative who found the golden nugget in an otherwise distinctly un-shiny…

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March 25, 2014 BY Gerald Segal

Singapore surging to take on more offshore RMB

Hong Kong became the first offshore yuan trading hub in 2004, followed by London in 2011 According to the latest SWIFT RMB Tracker (February 2014), the top offshore RMB hub remains London (excluding Hong Kong and Mainland China). Singapore is right behind London in weight and rank and is gaining volume. Singapore yuan clearing volume…

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March 25, 2014 BY Andrew Saks-McLeod

INTL FCStone combines its two UK businesses

INTL FCstone Ltd and INTL Global Currencies Ltd are to be placed as one business, based in London INTL FCStone has today announced that it has received authorization from the UK's Financial Conduct Authority to consolidate the entire operations of its two British subsidiaries, which are INTL FCStone Ltd and INTL Global Currencies Ltd, both…

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March 25, 2014 BY Andrew Saks-McLeod

MT4-compatible FX trade management software launched by STIG Trader

London-based STIG Trader aims to mitigate burden of manual trading with launch of MT4-based trade management software Innovation is most certainly the key to not only growth but also survival in today's highly contested FX software business. The very nature of the FX industry itself dictates that reliance on ever-evolving technology is paramount to engage new…

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March 25, 2014 BY Andrew Saks-McLeod

LeapRate Fraud Watch: ETF fund operator blew client funds on flamboyant lifestyle

CFTC issues $2.1 million financial penalty to Mitchell Huffman of Charlotte, NC, in addition to criminal sentencing two years prior The U.S. Commodity Futures Trading Commission (CFTC) announced yesterday that it has obtained a federal court supplemental Consent Order requiring CFTC Defendant Mitchell Brian Huffman, of Charlotte, North Carolina, to pay a $2.1 million civil…

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