Category: Financial Services

HKEX
January 13, 2025 BY Sam Boughedda

OTC Clear to Accept China Government Bonds as Collateral for All Derivatives

The announcement follows approval from the Securities and Futures Commission (SFC), the Hong Kong Monetary Authority (HKMA), and the People's Bank of China. HKEX explained that the initiative allows international investors holding these bonds through Bond Connect to use them as margin collateral for OTC derivatives. Initially implemented for Northbound Swap Connect, OTC Clear expects…

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CME Group
January 13, 2025 BY Sam Boughedda

CME Group's International ADV Reaches a Record High in 2024

The derivatives marketplace firm said the growth reflects heightened trading activity outside the United States, driven by significant gains across various product categories. The Energy sector led the surge with a 31% increase in ADV, followed by Metals at 27%, Agricultural at 25%, Interest Rate products at 12%, and Foreign Exchange products at 10%.  "We…

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FINRA
January 10, 2025 BY Sam Boughedda

Investments for You Fined $25,000 for Supervisory Failures

The Ohio-based broker-dealer was found to have violated several FINRA rules between June 2020 and September 2024. According to FINRA’s investigation, Investments for You did not implement policies to comply with Regulation Best Interest (Reg BI), which mandates brokers to act in the best interest of retail customers.  “Investments for You failed to establish and…

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January 10, 2025 BY Sam Boughedda

Bank Alfalah Acquires 9.9% Stake in Jingle Pay

Describing Jingle Pay as “one of the fastest growing fintechs in the MENAP region,” Bank Alfalah said the investment highlights “its commitment to driving digital transformation.” Jingle Pay, well-known for its AI-powered tech stack, processed over 2 million transactions and facilitated more than $1 billion in international money transfers in 2024, saving customers over $6…

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Revolut
January 09, 2025 BY Sam Boughedda

Revolut Partners with Pyth Network as a Data Publisher

The collaboration allows digital banking firm Revolut to contribute its price data to the decentralized finance (DeFi) ecosystem. Since its launch in 2015, Revolut has challenged traditional banks with services ranging from international money transfers to cryptocurrency trading.  The company now has over 45 million users across 200 countries. Through its partnership with Pyth Network,…

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January 09, 2025 BY Sam Boughedda

Easy Exchange Registration as Small Payment Institution Cancelled by FCA

The regulator’s action follows the firm's inability to meet essential conditions under the Payment Services Regulations 2017 (PSRs). Easy Exchange, which was registered to provide money remittance services, failed to submit the required annual regulatory reports, known as FSA057 returns, for the years 2021, 2022, and 2023.  Despite repeated reminders and warnings from the FCA,…

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FINRA building
January 09, 2025 BY Sam Boughedda

Fidelity Brokerage Services Hit with $600,000 Fine

The fine comes as the regulator said the company failed to adequately supervise its employees' access to client data and the transmittal of funds from international stock plan services (SPS) accounts.  The violations, spanning from December 2012 to October 2020, resulted in an associated person converting approximately $750,000 from 37 international plan participants. FINRA's investigation…

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January 08, 2025 BY Sam Boughedda

Sky Links Capital Announces Strategic Partnership with Centroid Solutions

The collaboration aims to enhance trading experiences for clients and improve liquidity distribution across financial markets. Centroid is a fintech provider known for its advanced technology and infrastructure in capital markets. Sky Links said that by integrating Centroid's technology, it plans to offer clients enhanced trading capabilities, real-time analytics, and superior decision-making tools. "The move…

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January 08, 2025 BY Sam Boughedda

Saxo Bank Fined €1.6 Million by AFM

The violations occurred between January 2021 and April 2023. They reportedly involved inadequate asset segregation, poor risk management, and unsatisfactory customer treatment during BinckBank's migration to Saxo Bank. The AFM investigation was prompted by consumer complaints and a critical assurance report from BinckBank's accountant. Customers reported delayed transactions, incorrect charges, and missing shares. The AFM…

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Acuity Trading
January 08, 2025 BY Sam Boughedda

Acuity Trading Announces Launch of Fully Automated AI-Powered Trading Signals

The new feature, integrated into Acuity's AnalysisIQ product, offers traders both expert human-led multi-asset signals and automated signals driven by advanced AI, specifically targeting the FX and cryptocurrency markets. The product was developed by Acuity Analytics.  The AI-powered signals leverage Natural Language Processing (NLP) and sentiment analysis to help boost traditional technical analysis, according to…

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