The Financial Services Compensation Scheme (FSCS), the UK's statutory compensation scheme for customers of authorised financial services firms, has announced its levy for 2016/17. FSCS, which is well known to former customers of Alpari (UK) Limited and LQD Markets UK, which fell victims of the Swiss franc spike on January 15, 2015, will levy £337 million…
Read moreNew Zealand's Financial Markets Authority (FMA) has earlier today updated its list of unregistered businesses, adding one more FX company to it. The latest addition to the list is Hangsiu Group Limited, operating via www.hangsiugroup.com. The company offers a variety of FX services, including trading on MT4. The FMA is concerned that the website of…
Read moreOnline trading services provider Exness Group today published a “Report of Factual Findings on Exness' funds” conducted by international audit expert Deloitte, reiterating its advocacy of increased transparency in the FX industry. The report has confirmed Exness to have $83.78 million of own funds. Exness is publishing annual funds audit on top of quarterly publications of…
Read moreInternational provider of online trading services Monex Group, Inc. (TYO:8698) has earlier today posted its preliminary metrics for the full year to March 31, 2016, with net profit staging a small increase in annual terms. The Group reported profit attributable to its owners of JPY 3.55 billion ($31.98 million), up 1.6% from the reading of…
Read moreIn what is seen as the biggest ever money seizure by UK law enforcement, the City of London Police today announced it took possession of bankers’ drafts worth £30 million following the arrest of a South Wales man. The funds are suspected to have been generated from overseas organised crime, including Ponzi schemes and on…
Read moreMoscow Exchange, or Moskovskaya Birzha MMVB-RTS PAO (MCX:MOEX), the biggest Russian venue for trading stocks, derivatives and Forex, today experienced another derivatives trading interruption. Trading in derivatives was halted at 11.20 (Moscow time) today after brokers started noticing problems with access to derivatives trading. Derivatives trading was resumed at 12.15 (Moscow Time). The causes for…
Read moreCyber security is high on the agenda, as SWIFT was today forced to voice its stance regarding reports alleging its network and messaging services were affected by malware. SWIFT said in its statement that it was aware of malware targeting the ability of financial institutions to evidence fraudulent transactions. It added that the malware has…
Read moreRussia's Centre for Regulation in OTC Financial Instruments and Technologies (CRFIN), an FX body seeking to obtain an official status of a Forex self-regulatory organization, has added one more company to its “Black List”, which features entities having the characteristics of financial pyramids. The latest addition to CRFIN's “Black List” is Tokyo Investment Group, operating…
Read moreSingapore Exchange Limited (SGX:S68) and China Construction Bank Corporation (SHA:601939) today sealed a memorandum of understanding (MoU), seeking to promote Singapore’s capital markets to Chinese companies. Under the agreement, SGX and CCB will collaborate to bring Chinese companies to list in Singapore, especially through SGX’s Direct Listing Framework. CCB is one of the issue managers…
Read moreOnline trading services provider CMC Markets Plc (LON:CMCX) has extended its product portfolio with the launch of a range of new binary products available on its Next Generation platform via mobile devices, tablet or desktop. Peter Cruddas mentioned the pending launch in LeapRate's Exclusive Interview in January this year. CMC Markets’ binaries offer a dynamic way…
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