Fiscal 2016 will be IG Group's first year under the stewardship of new CEO Peter Hetherington, and it looks like it will be a good one. Leading UK online broker IG Group Holdings plc (LON:IGG) provided a Trading Update on its 2016 financial results, indicating that the company expects full year 2016 earnings to be slightly ahead of…
Read moreFrance's financial regulators Autorité de Contrôle Prudentiel et de Résolution (ACPR) and Autorité des Marchés Financiers (AMF) have issued a warning to the public against the activities of several websites and entities proposing Forex investments in France without being authorized to do so. The warnings were issued for: www.fxsep.com / SEP GLOBAL LIMITED www.marketct.com www.valtechfx.com…
Read moreCanadian provincial securities regulator British Columbia Securities Commission (BCSC) has issued a warning regarding retail forex broker AvaTrade, adding AvaTrade to its Investment Caution List. The BCSC states that Ava Trade Ltd. claims to be a regulated on-line broker, based in the British Virgin Islands. The BCSC became aware of a recent advertisement placed by Ava Trade…
Read moreTullett Prebon has announced that it become the first firm to successfully send a Swap Execution Facility (SEF) trade for clearing at the Japan Securities Clearing Corporation (JSCC). The trade was executed via tpSEF's hybrid trading platform. Last year, the JSCC obtained an exemption from the Commodity Futures Trading Commission (CFTC) from registration as a…
Read moreFrance financial regulator Autorité des Marchés Financiers (AMF) has announced that it is creating a new FinTech, Innovation and Competitiveness (FIC) division to respond to changes in consumption patterns which have been amplified by technological innovation and the globalization of financial services. The AMF's FIC division will be charged with analyzing innovations taking place in the investment…
Read moreAccording to newly installed London Mayor Sadiq Khan, London is in danger of becoming the world's money laundering capital (if it isn't already) - and it isn't the banks and brokers to blame. In a clear dig at his predecessor and pro-Brexit campaigner Boris Johnson, Mayor Khan stated in an interview on ITV’s Peston on Sunday show…
Read moreAccording to newly installed London Mayor Sadiq Khan, London is in danger of becoming the world's money laundering capital (if it isn't already) - and it isn't the banks and brokers to blame. In a clear dig at his predecessor and pro-Brexit campaigner Boris Johnson, Mayor Khan stated in an interview on ITV’s Peston on Sunday show…
Read moreNumerous news sources including FT.com and Gulf News are reporting that Saudi Arabia's government is investigating several of the country's banks, for creating structured products which allow traders to speculate on the possible end of the currency's US Dollar peg. Several leading international hedge funds, including Bill Ackman's Pershing Square Capital and PointState Capital are reported to…
Read moreForex industry news at LeapRate this past week was dominated by regulatory moves, broker results, and news involving China (some good, some bad). Our most popular guest posts covered the pros and cons of fully integrated forex broker platform solutions, How easy is it to become a Prime of Prime, and Google bans Payday Loan ads –…
Read moreData from Chinese financial regulator State Administration of Foreign Exchange (SAFE) indicates that China's currency exchange market posted turnover of 9.79 trillion yuan (USD $1.5 trillion) in April 2016, down about 9% from 10.71 trillion (USD $1.6 trillion) yuan in March., as reported by Reuters. The amount breaks down between 1.66 trillion yuan in forex transactions between…
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