LeapRate Exclusive... Further to our report from last week that China regulators are changing their tune when it comes to Retail FX and starting to kick foreign FX brokers out of the country - which seems to have generated a lot of buzz and discussion in the industry - we have a follow-up report indicating that several…
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LeapRate Exclusive... LeapRate has learned via regulatory filings that Retail FX brokerage group Exness has invested an additional £1.5 million (USD $2.1 million) of capital into its FCA regulated UK subsidiary Exness (UK) Limited. As we exclusively reported early last year, CySEC-licensed Exness made an application to the FCA to upgrade its "IFPRU 125K" license in…
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We had reported late last month that Saxo Bank had seen slowing activity and revenues in the second half of 2017 - something we believe every other FX industry blog missed, since the company didn't really break that out in its year-end report. However that seems to have quickly corrected itself in 2018, at least…
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Retail FX broker FXCM continued its strong start to 2018, reporting overall FX trading volumes of $239 billion. That ranks just 4% below January's $250 billion, but given that February had fewer trading days than January (20 versus 22), February's $12.0 billion average daily volume was actually 5% above January. Keeping in mind, that January…
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It isn't just the bank and brokers getting fined. The U.S. Securities and Exchange Commission (SEC) has announced that it charged the New York Stock Exchange and two affiliated exchanges with regulatory failures in connection with multiple episodes, including several disruptive market events. The charges arose from five separate investigations and include the first-ever charged…
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Sydney, Australia based boutique prime broker Invast Global has announced the launch of a London oneZero Hub in Equinix LD4. The new hub will allow retail brokerages to seamlessly connect to the award-winning liquidity of Invast Global. Invast Global currently offers multi-asset liquidity to retail brokers, hedge funds, proprietary trading firms and banks around the…
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The U.S. Commodity Futures Trading Commission (CFTC) has announced that it has filed a civil enforcement action in the U.S. District Court for the Southern District of New York, charging Lon Olen Friedrichsen of Alton, Iowa, with fraud and failing to register with the CFTC as a Commodity Trading Advisor, as required. Friedrichsen, as alleged, also solicited…
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Commodities and Forex broker INTL FCStone Inc (NASDAQ:INTL) has announced that its Dubai-based subsidiary, INTL FCStone Commodities DMCC will serve as the market maker for the Dubai Gold & Commodities Exchange (DGCX) Sharia-compliant Spot Gold contract, which will be available for trading beginning on March 29, 2018. The release of this contract is a first for DGCX, and will…
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UK financial regulator the Financial Conduct Authority (FCA) has announced that it has fined Guillaume Adolph £180,000, and banned him from performing any function in relation to any regulated financial activity. Mr. Adolph formerly worked at Deutsche Bank AG (FRA:DBK) as a short-term interest rate derivatives trader, trading products referenced to CHF (Swiss Franc) and JPY…
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Trading platform developer MetaQuotes has announced that its popular multi-asset platform MetaTrader 5 (MT5) now supports demo access to Asia's oldest stock exchange, the Bombay Stock Exchange, or BSE. MT5 traders can open an account on the MetaQuotes-BSE-Demo server and start receiving quotes of BSE featured securities. Also, traders can apply technical analysis tools and perform back-testing…
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