Thomson Reuters changes FX matching trading rules to encourage ‘acceptable trading behaviors’ LeapRate

Gerald Segal

LeapRate Analyst

March 25, 2014 BY Gerald Segal

Thomson Reuters changes FX matching trading rules to encourage ‘acceptable trading behaviors’

Leading Forex ECN wants to combat FX market manipulation, such as price ‘flashing’ We learned today in a press release that Thomson Reuters Matching, the leading anonymous electronic matching service for the FX market is proposing changes to it's Matching Rule Book. The changes will apply to both Thomson Reuters institutional FX platforms, FXall and…

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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 Gerald Segal

The ACI, FX market's main industry umbrella group, will officially appoint President

Official announcement will be made later this week at the ACI's annual meeting in Berlin ACI – The Financial Markets Association, the Forex market's main industry umbrella group, will officially appoint former State Street executive Marshall Bailey as its first full-time president later this week according to Reuters. The article states: "The move has been in…

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March 24, 2014 BY Gerald Segal

LeapRate Forex Fraud Watch – Patrick Cole and GSM, Inc. to Pay over $2.2 Million in Sanctions

Ohio Federal Court Rules against Defendants in Connection with Foreign Currency Ponzi Scheme The U.S. Commodity Futures Trading Commission (CFTC) announced on Friday March 21, 2014 that Judge David D. Dowd Jr. of the U.S. District Court for the Northern District of Ohio granted summary judgment and issued a Memorandum Opinion, a Judgment Entry, and a…

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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 Gerald Segal

SEF Update: Activity in FX continues to lag behind other asset classes

Bloomberg sees record interest rate and CDS volumes, but FX still very slow Financial giant Bloomberg has released some numbers and given us a glimpse into how their SEF entity is faring. And while volumes in interest rate swaps and credit default swaps (CDSs) seem to be picking up nicely, FX is lagging well behind…

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March 24, 2014 BY Gerald Segal

TRADOLOGIC is now offering full EMIR solution to partners

Full EMIR solution is now available to binary options brands using the TRADOLOGIC platform Binary options platform provider TRADOLOGIC, in a late Friday press release stated that they now offer fully compliant EMIR reporting solutions for binary option contracts under European Union law. This is welcome news to fully transparent and regulated EU FX brokers…

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March 21, 2014 BY Gerald Segal

CySEC warns against OptionSmarter and FrontierForex

Both companies show that they're based in Cyprus; Frontier even claims to be authorized by CySEC. Cyprus financial regulator CySEC has continued its crusade against unregulated forex and binary brokers which operate unlicensed out of the country, or (more likely) which appear to be based in Cyprus. The latest two? Retail forex broker site FrontierForex…

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March 20, 2014 BY Gerald Segal

Plus500 shares set another all-time high, valuation now above $1.1 billion

Plus500 shares soar 5.4% on Wednesday following release of its Annual Report. Plus500's secret sauce? It has now been a couple of days since investors got their hands on Plus500's 2013 Annual Report, and it seems like they like what they see. With no 'new' news out, Plus500's shares (LON:PLUS) went on another tear on…

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