X Open Hub’s rebranding focuses on its open environment The company behind the open online FX & CFD trading environment X Open Hub, X Financial Solutions has publicized today that as part of its ongoing effort to strengthen its brand recognition and in order to underline the openness of its product it is changing its…
Read moreLeading religious and social figures in the UK push to remove the tax exempt status of spreadbetting After several years of tax exemption the UK Treasury seems to be aiming at that heaven. Lawmakers will look into spread betting after the taxing question was raised by the Archbishop of Canterbury and shadow treasury spokesman Lord…
Read moreIt looks like CySEC’s earlier warning against TraderXP was for the same company The Cypriot regulatory authority CySEC has issued another warning against dealing with a binary options broker called Sycamore Options. Just as in previous cases there was no detailed information in the announcement on CySEC’s website as to whether or not the company…
Read moreOne of the side effects of skyrocketing Bitcoin prices is increasing theft As the end of the month nears Bitcoin is trading near all-time highs of $1000 on the Mt Gox exchange having hit a bit earlier $1073. Discrepancies between the different exchanges are back in place with BitStamp quoting the crypto-currency at $950 with…
Read morePigaga led the team responsible for developing ICAP’s SEF Interdealer broker ICAP has announced yesterday that its appointing Ken Pigaga as Global Chief Operating Officer and he will be reporting directly to Michael Spencer, the Group's CEO. He will be moving to London from New York where he was responsible for the development of ICAP's SEF…
Read moreUnderwriters led by Jefferies exercise 'greenshoe' option Retail forex broker GAIN Capital (NYSE:GCAP) has reported yesterday that it after the increase of its convertible note offering last week, the initial purchasers have exercised their option to purchase additional $10 million of notes. With. Is action the total amount of notes sold aggregates $80 million, whilst the…
Read moreMore than 50 people scammed through a commodity pool in Connecticut The Commodity Futures Trading Association (CFTC) has announced today that it has obtained a court order against Feisal Sharif, operating through his commodity pool First Financial LLC in Branford, Connecticut. The restitution pronounced by the court amounts to $2.2 million plus $900,000 civil monetary…
Read moreFailure to comply with Client Money Rules costs the company almost $1.5 million The Financial Conduct Authority has imposed a fine on SEI Investments Europe for breaching its so called Principle 10. The company has not protected the funds of its investors properly and has breached the standard practice of keeping customers' money in segregated…
Read moreWorld’s largest currency hedge fund, once $14B, ended with just $2M under management and $79M liabilities Few people would have thought that John Taylor's once mighty currency hedge fund would be going out of business so soon after it was established as a leader in the industry. Once a $14 bln dollar giant it ends…
Read moreFormer CEO of UCL resources Christopher Jordinson faces up to 10 years in prison Former CEO of Australian company UCL Resources Christopher Jordinson has admitted that he was participating in an insider trading scheme that involved his nephew and two other people. He tipped them off about an incoming takeover bid from Oman-based Mawarid Mining LLC earlier…
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