Category: Financial Services

June 28, 2023 BY Steffy Bogdanova

LiquidityBook establishes integration with ICE ETF Hub to streamline ETF primary market and portfolio management processes

Peter Borstelmann, President of ICE Bonds, said: By modernizing and bringing new efficiencies to the creation and redemption process, the ICE ETF Hub offers a powerful platform for accessing the ETF primary market. Connecting with LiquidityBook’s LBX OEMS gives institutional investors seamless access to our workflow over a highly scalable trade management platform, and it…

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FINRA
June 26, 2023 BY Steffy Bogdanova

FINRA imposes a $900k fine on Credit Suisse's US business arm

FINRA stated: The firm’s late and inaccurate TRACE reports violated FINRA Rules 6730 and 2010. In addition, the company failed to provide notifications for approximately 190 new issue offerings in TRACE-reportable securities. Moreover, Credit Suisse's supervisory system, designed to ensure the accuracy and timeliness of TRACE reporting, was found to be unreasonable by the self-regulatory…

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Euronext
June 26, 2023 BY Steffy Bogdanova

Euronext sells its stake in LCH SA for €111 million

Euronext also emphasized that its holdings in LCH SA were recorded at a carrying amount of €70.6 million as of the conclusion of 2022. The exchange group completed the acquisition of LCH SA in December 2017 through a share swap arrangement, wherein Euronext exchanged its 2.3% stake in LCH Group for an 11.1 percent stake…

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June 20, 2023 BY Steffy Bogdanova

CySEC fines 101investing.com operator €50K

The regulator said: The Company did not apply adequate and appropriate policies, controls, and procedures, so as to mitigate and manage the risks of money laundering and terrorist financing effectively, in relation to the detailed examination of each transaction which by its nature may be considered to be particularly vulnerable to be associated with money…

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Deutsche Börse
May 26, 2023 BY Steffy Bogdanova

Deutsche Börse discloses terms and conditions on SimCorp acquisition

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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CFTC
May 15, 2023 BY Steffy Bogdanova

CFTC imposes a $45 million penalty on HSBC for manipulative and deceptive trading

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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