March 25, 2014 BY Andrew Saks-McLeod

ASIC issues permanent ban on insolvent former authorized representative

Spurious claims by companies and their representatives which offer managed accounts promising high returns are often dubious. ASIC puts an end to Queensland-based rep's career Individuals and less-than-reputable companies which seek to bilk potential investors out of their capital by promoting managed schemes which paint a picture of exponential gains without substantiation have been the…

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March 25, 2014 BY Andrew Saks-McLeod

Breaking News: Dukascopy opens office in Zurich

Swiss FX bank Dukascopy continues its expansion by opening further operations, this time in Switzerland's largest city Switzerland's Dukascopy Bank, a very prominent company within the FX industry, is opening an office in the center of Zurich. After a rapid expansion in the global market with new offices opened in Hong Kong, Kiev and Moscow,…

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March 24, 2014 BY Gerald Segal

Citi shakes up FX trading, merges electronic and voice desks

London based Citi exec Richard Bibbey will become the head of global spot FX trading, a new position at Citi. Citigroup (NYSE:C) is continuing the shakeup in its FX trading operation. Reuters and the Wall Street Journal each claim to have seen an internal Citi memo detailing the changes at Citi, which include the merging of…

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March 24, 2014 BY Andrew Saks-McLeod

Tera Group to quell Bitcoin fears by offering virtual currency NDF

Despite its instability and susceptibility to risk, Bitcoin derivatives may be available as an NDF in the near future The eventful year of high profile events and ever-changing circumstance which surround virtual currency have largely not resulted in FX firms adopting it as a tradable instrument, except for a few pioneering mavericks. Even the volatility…

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March 24, 2014 BY Gerald Segal

ASIC vows to fight forex fraud

Australian regulatory chief voices concern amid global FX rigging probe As we have been covering here at LeapRate, international investigations of price-rigging by banks and currency traders have now reached down under. Amid international pressure from other jurisdictions, Greg Medcraft, chairman of the Australian Securities and Investment Commission (ASIC), told the Financial Times last week:…

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March 24, 2014 BY Gerald Segal

XLMedia upsizes IPO, shares soar on first day of trading

XLMedia has demonstrated that an IB / affiliate business model can be the base for a successful IPO.   Gaming affiliate XLMedia (LON:XLM) has completed its IPO on the London Stock Exchange, and it was an absolute blowout. After raising more money than planned, and at a higher valuation (see table below), XLMedia saw a…

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March 24, 2014 BY Andrew Saks-McLeod

tradable partners with IS Investment to attract Turkish client base

Turkey's largest investment bank, IS Investment, enters exclusive partnership with application-based platform tradable for retail FX clients Application-based trading platform tradable has been selected by Turkish investment bank IS Investment in an exclusive partnership. Instrumental to tradable's innovative approach is its emphasis on applications which are able to be incorporated into the platform, allowing users…

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