Two air traffic controllers and a commodity trader set up and execute a nice little forex fraud. The CFTC announced more than two years ago in June 2011 that it is filing charges against Louis J. Giddens, Anthony W. Dutton and Michael Gomez for setting up and executing a forex trading scheme. They have accepted…
Read moreCFTC making exceptions, at least temporarily, for foreign regulated entities seeking SEF status. One of the kinks in the CFTC's implementation of the Dodd Frank Act's requirement for SEF licensing is that the SEF rules (e.g. regarding disclosure, open order book...) contravene the rules of other jurisdictions. To help iron out these 'kinks', the CFTC…
Read moreGlobal financial regulators get another bank on board to help them assess the London foreign exchange fix fairness. Barclays (NYSE:BCS) -- the UK's third biggest bank by market cap -- is the next shoe to drop in financial regulators' efforts to mitigate potential risks of currency rates rigging. In its third quarter interim management statement Barclays…
Read moreFirst four apps developed by Ariel for Tradable include World of FX, Personal Currency Exposure, Order Templater and Trade Notebook. Financial trading software provider Ariel Communications has signed an agreement with Tradable to develop a range of new forex trading apps for the Tradable trading platform. As part of the agreement, Ariel has been appointed…
Read moreInvestor protection improved with centrally cleared CFD launched in partnership with Commerzbank, ING and Citi. Cantor Fitzgerald Europe and LCH.Clearnet have announced today they are launching the first European centrally cleared over the counter CFD trading mechanism. A big step towards a more liquid market and better balancing of risks especially for customers who are…
Read morePartners of consulting firm Shift Forex have been offering M&A advisory services to Forex companies via Berkshire Capital. Continuing the trend of key industry news around IPOs and M&A is a LeapRate exclusive that sheds more light on the recent story around Pepperstone's potential IPO or sale. As we wrote earlier, Pepperstone disclosed to the WSJ their…
Read moreLibor misconduct fines keep on pouring a full year after the scandal has shaken the financial industry. The Dutch bank Rabobank has settled for $475 mln with the US's CFTC, £105 million will be paid to the UK's FCA, whilst the rest of the billion dollar hit to the bank's balance sheet will be paid…
Read morePlus500 market value now tops £375 million ($600 million). CFD broker Plus500 has seen its shares (LON:PLUS) continue to climb steadily since Plus500 announced Q3 results earlier this month, and on Tuesday (October 29) set an important milestone. Plus500 shares rose 7% on Tuesday, crossing the £2 barrier for the first time, to close at…
Read moreBoth banks are launching internal investigations to facilitate cooperation with regulatory bodies. Swiss banking heavyweight UBS and foreign exchange markets giant Deutsche bank have reported separately in their quarterly earnings reports on Tuesday, that the banks have received inquiries from their regulators regarding the way they conduct foreign exchange transactions. Regulators across the globe, starting…
Read moreTRI did, however, surpass 100,000 Eikon desktops installed early in Q4. Information provider Thomson Reuters (NYSE:TRI) reported mixed Q3 results this morning, which saw its earnings beat estimates but its revenues disappoint somewhat. One of the reasons given for the lighter revenues was lower trade volumes in foreign exchange and fixed income markets. Thomson Reuters…
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