Leading off our reports of FX trading volumes for June by leading Retail and Institutional eFX platforms, Forex ECN FastMatch data shows a 12% drop in activity from May volumes. FX trading volumes averaged $19.7 billion daily at FastMatch in June, down from a record $22.5 billion in May. FastMatch's figures portend a fairly slow…
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LeapRate Exclusive... LeapRate has learned that Abu Dhabi based international financial services firm ADS Securities has made some more changes to its institutional FX organization. Lousia Kwok, who joined ADS Securities from Paribas just over a year ago to act as Head of Prime Brokerage Sales and Product has left the company. Her role has been…
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Mainstream and industry press have written widely on the gradual withdrawal of banks - the traditional primary liquidity providers - from the spot FX markets over the past few years. The typical narrative is that reduced appetite for risk, controls on capital at banks, as well as juniorization of dealer staff have all contributed to…
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Derivatives marketplace operator CME Group Inc (NASDAQ:CME) announced today it has received regulatory clearance from the Commodity Futures Trading Commission (CFTC) to provide clearing services for over-the-counter FX options. This is a significant milestone in providing our FX clients with the broadest and most capital efficient FX clearing solution in the market," said Paul Houston,…
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The Board of the National Securities Market Commission (CNMV) announced that has approved, at its meeting held today, the voluntary takeover bid for the shares of Clínica Baviera, S.A. submitted by Aier Eye International (Europe), S.L.U. The offer is aimed at 100% of the share capital of Baviera composed of 16,307,580 shares of 0.10 euros…
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LeapRate has learned via regulatory filings in the UK that the newly installed CFO of NEX Group PLC (LON:NXG), Samantha Wren, has been granted 39,713 shares as part of the company's Performance Share Plan. At the current share price of £6.39, the grant is worth £254,000, or USD $326,000. The award will normally vest in three years…
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Vontobel has chosen Clearstream Banking as strategic partner to streamline and consolidate its third-party hedge fund processing activities. Clearstream’s investment funds processing infrastructure Vestima enables processing of all types of funds from mutual funds to hedge funds on a single platform. The current regulatory agenda has made asset safety a key concern for financial institutions…
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TORA, provider of advanced cloud-based order and execution management system (OEMS), today announced that it has joined the London Stock Exchange Group’s UnaVista Partner Programme to help clients meet the transaction reporting requirements of MiFID II. When MiFID II comes into force in January 2018, buy-side firms will be required to submit transaction reports directly…
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Poll of 562 asset managers reveals that two weeks before the regulation enters law, 54% of funds still feel they don’t have enough information on research unbundling, indicating that more education needs to be done. RSRCHXchange, the aggregator and marketplace for institutional research, today released headlines from the results of their latest survey analysing the…
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KCG Holdings, Inc. (NYSE: KCG) today announced that it will redeem all of its outstanding 6.875% Senior Secured Notes Due 2020 (ISIN No. US48244BAC46) (the "Notes") on the business day immediately following the effective date of the Agreement and Plan of Merger, by and among Virtu Financial, Inc. (NASDAQ:VIRT), Orchestra Merger Sub, Inc. and the…
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