The Commission found that that with her actions, McDowell acted as a CTA but she was not registered as required by the Commodity Exchange Act (CEA). Additionally, McDowell also made material misrepresentations about her services and omitted significant facts about her use of client funds and the profits purportedly earned by her clients. The regulator…
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The completion of the offer depends on Deutsche Börse fulfilling customary conditions and obtaining the required regulatory approvals. It also necessitates a minimum acceptance threshold of 50% plus one share of SimCorp's share capital and voting rights. Based on the current timeline, the transaction is anticipated to be finalized in the third quarter of 2023.…
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Euronext’s trading revenue was also down by 14.5% YoY at €128.9 million, compared to the same period during the previous year. Cash trading declined by 23.7% to €71.7 million, as well as derivatives trading by 7.4% to €14.9 million. However, fixed income strengthened by 7% to €26.2 million and power trading by 8.4% to €9.8…
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Additionally, the regulator accused HSBC’s subsidiary of attempting to manipulate on-screen prices, which were partly based on issuer swaps, by engaging in spoofing activities with interdealer brokerages that controlled the screens. Spoofing involves placing orders with the intention of canceling them before execution, constituting fraudulent behavior. According to the CFTC, HSBC traders deliberately traded at…
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Gurbir S. Grewal, Director of the SEC’s Division of Enforcement, said: The size of today’s award – the highest in our program’s history – not only incentivizes whistleblowers to come forward with accurate information about potential securities law violations, but also reflects the tremendous success of our whistleblower program. This success directly benefits investors, as…
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The average daily volume in FX for last month came in at $19.7 billion. Compared to March’s $22.6 billion, this was also a 13.1% MoM decrease. Total Cash Market numbers in April stood at $185.2 billion, down by 36% MoM compared to previous month. On yearly basis, the exchange saw a 18% decrease. Derivatives markets…
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Joining United Fintech In a separate transaction, the two German entrepreneurs, who founded TTMzero, Simon Ullrich and Soenke Blunck, have used part of their share sale proceeds to invest in United Fintech on a group level. United Fintech CEO Christian Frahm commented: For the past few years, the trend has been that financial institutions are…
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Operating income for Q1 reached $384 million, registering a 36% increase compared to the second fourth quarter of last year. Charles Meyers, President and CEO, : We had a strong start to the year, delivering nearly $2 billion of revenue for the quarter, as our outlook remains positive with the overall demand for digital transformation…
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Trading volumes on Börse Frankfurt in March 2023 came in at €2.44 billion (March 2023: €3.79 billion). Last month, Equities on Deutsche Börse generated €71.66 billion and trading in ETFs/ETCs/ETNs accounted for €12.48 billion of the turnover. Bonds recorded €0.69 billion, certificates €0.75 billion and funds brought in €0.03 billion. SAP SE was the DAX…
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As per the regulator's statement, Steynberg, the CEO of Mirror Trading International Proprietary Limited (MTI) allegedly used Bitcoin (BTC) payment to lure investors into the commodity pool, as per the regulator's statement. Despite this, MTI, which was founded and headed by Steynberg, has failed to register itself as a commodity pool operator (CPO) and comply…
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