Trading on personal accounts is getting quite unpopular, can it be stopped? According to an FT article that was just published yesterday we have a new nuance to the FX fix manipulation. Major banks including Deutsche Bank, Royal Bank of Scotland and UBS are vigilantly reviewing internal rules on their employees trading on personal accounts…
Read moreTransaction numbers rising briskly by 20% The CLS settlement service has seen January FX volumes rebounding almost 9% from December 2013 with the average daily value of matched trading instructions submitted during last month coming out at $5.3 trillion which is up by 8.6% from 2013’s last month data totaling $4.87 trillion. That compares with…
Read moreMt Gox's withdrawal problems cause some confusion as to the true current value of Bitcoin. LeapRate has learned that several of the leading forex brokers offering leveraged Bitcoin (BTCUSD) trading are switching away from using the Mt Gox Bitcoin exchange as their Bitcoin price reference source. The first change has been made by Ireland-based forex…
Read morePrices soaring since the company has issued a press release detailing a solution to recent problems It has taken Mt Gox a bit more than 6 hours to complete their fix implementation of a workaround to the “transaction malleability” issue, but we have a winner now and those might be the customers at the exchange.…
Read moreDecember's total US forex client assets of $600 million down 6% for the year. (Over-) regulation continues to take its toll in the US retail FX business. The CFTC's just-released December data shows continued erosion of assets held by US retail FX traders at their brokers. This wasn't a case of clients migrating from one…
Read moreUK Chancellor George Osborne has finally clarified the UK Treasury’s position It took the UK Treasury long enough to openly come out with a statement that a vast majority of market participants was already widely expecting. Last week the Chancellor of the Exchequer George Osborne has finally clarified the position of the current government. What’s…
Read moreHis company SureInvestment stripped over 300 clients of more than £21 million The FCA has reported that it successfully concluded the prosecution of Benjamin Wilson – a fraudster that has managed to deceive more than 300 investors into entrusting his company SureInvestment £21.8 million. Justice is heavy – the scammer will serve seven years in…
Read moreNot all EU country regulators agree on what a ‘derivative’ is for EMIR reporting purposes The EU regulator of financial derivatives ESMA has sent a letter to the European Commission on Friday asking for clarification of the derivatives definition under the EMIR (European Market Infrastructure Regulation). According to the press release, the lack of EU…
Read moreJenkins ran a Ponzi scheme through his company Harbor Light Asset Management allegedly trading S&P 500 Futures According to a press release by the CFTC the list of fraudsters that have been heavily fined for violating US laws has grown with one more name in it. The latest addition is Michael Anthony Jenkins and his…
Read moreMt Gox announces maintenance, price almost drops to $300 Panicky behavior of Bitcoin investors is wreaking havoc across the market, especially at Mt Gox. According to current data provided by Bitcoincharts.com price divergence between Mt Gox and BitStamp is close to 85%. For every Bitcoin you are holding at Mt Gox you could get (assuming…
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