Mike Fox
LeapRate Analyst
June 02, 2016 BY Mike Fox

E-Trade fined by FINRA $900K for best execution and client order information violations

The Financial Industry Regulatory Authority (FINRA) announced today that it has censured and fined E*TRADE Financial Corp (NASDAQ: ETFC) $900,000 for failing to conduct an adequate review of the quality of execution of its customers’ orders and for supervisory deficiencies concerning the protection of customer order information. E*Trade provides online securities investing and trading services for…

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June 02, 2016 BY Mike Fox

Moscow Exchange Forex volumes fall 11% MoM in May

Moscow Exchange (MOEX) announced today trading volumes for May 2016. Total trading volumes on the exchange increased by 33.5% YoY to RUB 58.1 trln. The Derivatives Market and Money Market posted the strongest growth, with volumes increasing 76.1% and 57.9% YoY, respectively. Trading volumes increased by 14.1% YoY on the FX Market, 5.2% YOY on the Equity…

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June 02, 2016 BY Mike Fox

CME Forex volumes creep down 7% MoM, EM sees increase

CME Group Inc (NASDAQ: CME), the world's leading and most diverse derivatives marketplace, today announced that May 2016 overall volume averaged 14.9 million contracts per day, up 6 percent from May 2015. CME Group May 2016 options volume averaged 2.8 million contracts per day, up 10 percent versus May 2015, with electronic options averaging 1.6 million contracts per day,…

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June 02, 2016 BY Mike Fox

Santander launches international payments app using blockchain

British bank Santander UK plc, wholly owned by the Spanish Santander Group (BME: SAN) announced they are the first UK bank to introduce blockchain technology which facilitates international payments, through a new app. It is currently being rolled out as a staff pilot, with the intention to expand the technology at a later date. Once the…

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June 02, 2016 BY Mike Fox

NFA set to double fee for Forex order reporting

LeapRate has learned that the National Futures Association (NFA) has just sent a letter to the Commodity Futures Trading Commission (CFTC), in which if within 10 days no review is requested, the transaction fee is set to increase for each order segment a Forex Dealer Member (FDM) submits to NFA's Forex Transaction Reporting Execution Surveillance…

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June 02, 2016 BY Mike Fox

CME Group granted license to clear non-Yen interest Rate swaps in Japan

CME Group (NASDAQ: CME), the world's leading and most diverse derivatives marketplace, announced that Chicago Mercantile Exchange Inc. (CME) has been formally granted the status of Foreign Clearing Organisation (FCO) by the Prime Minister of Japan on 1 June 2016. With this FCO status, the clearing house division of CME, CME Clearing, is now able to clear non-Yen interest rate swaps on behalf…

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June 01, 2016 BY Mike Fox

Interactive Brokers May metrics show 3% MoM decline in DARTs

Interactive Brokers Group, Inc. (NASDAQ GS: IBKR) an automated global electronic broker and market maker, today reported its Electronic Brokerage monthly performance metrics for May. Highlights for the month included: 641 thousand Daily Average Revenue Trades (DARTs), 4% higher than prior year and 3% lower than prior month. Ending client equity of $72.5 billion, 9%…

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June 01, 2016 BY Mike Fox

CME reduces CAD/USD futures contract price increment down to half tick

CME Group (NASDAQ: CME) today notified traders that effective Sunday, July 10, 2016 for trade date Monday, July 11, 2016, and pending all relevant CFTC regulatory review periods, CME will reduce the price increment of the Canadian Dollar/US Dollar futures contract down to a half tick commencing with the September 2016 contract month and beyond. Specifically,…

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June 01, 2016 BY Mike Fox

CFTC permits BVMF and Cleartrade to provide U.S. members direct access

The U.S. Commodity Futures Trading Commission (CFTC) today issued Orders of Registration to the following Foreign Boards of Trade (FBOT): - BM&FBOVESPA S.A. – Bolsa de Valores, Mercadorias e Futuros (BVMF), an FBOT located in São Paulo, Brazil; and - Cleartrade Exchange Pte. Limited (Cleartrade), an FBOT registered in Singapore with offices in Singapore and…

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June 01, 2016 BY Mike Fox

itarle opens algorithmic trading service in Zurich

itarle AG (itarle), a leading provider of multi asset algorithmic trading and analytics services for the sell-side, today announced it has established an algorithmic trading service bureau at the Equinix ZH4 data centre in Zurich. Switzerland is also where itarle Global HQ is located along with offices in Dublin and Hong Kong. This latest service has…

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