Last week we witnessed LSE AIM traded Plus500 hit its first hiccups as a publicly traded company as shares of the popular retail brokerage fell on KYC and AML concerns which led to frozen accounts with UK clientele. All the links related to the story from last week are below.
LeapRate managing editor Andrew Saks-McCleod spent the week in Peru among Latin America FX industry pioneers, all of his diverse live reports from Peru concerning the LATAM FX market you can read below.
Also last week, heavy settlements from U.S and UK regulators by major banks surrounding FX manipulation starting rolling in, with Barclays to pay largest ever Forex and ISDAfix settlement at £1.53 billion. The rigging stories just won’t die as South Africa regulators are now investigating its FX bank traders. Check below our featured stories from last week and our complete run-down of the most noteworthy news items.
Plus500 statement on share price fall | https://www.leaprate.com/hROKH
FX industry being established in Latin America | https://www.leaprate.com/Xt8Kl
South Africa probes bank Forex traders for price fixing | https://www.leaprate.com/N8EFz
FXCM 10-Q confirms Faros Trading sale done for nothing upfront plus %-of-profits – but why? | https://www.leaprate.com/iMpcc
TechFinancials shares down | https://www.leaprate.com/idiFZ
FXPrimus management statement on ASIC actions | https://www.leaprate.com/j5nrl
CMC Markets moving forward on planned £1 billion IPO | https://www.leaprate.com/FqYQQ
FXCM/Saxo Bank take over of FX accounts of CitiFX Pro | https://www.leaprate.com/IfiPW
Weekly Forex Industry Rundown for May 18th – May 24th
Volumes
- Japanese retail Forex brokers report 7.1% MoM drop in trading volumes in April
- Thomson Reuters sees daily FX volumes drop 8.2% MoM in April
Interviews
- CFH Clearing Regional Director Mehtap Önder looks at Turkey: A candid and concise view one year on
- The emerging markets conundrum: To follow the crowd, or to build entirely from scratch? – Live from Peru
- The enthusiasm of a high net worth trader – Live from Peru
- Full statistics on a totally new market revealed: LeapRate talks to senior banking executive Omar Barrientos – Live from Peru
- Luis Urquiza’s journey from TV director to banking executive, to Latin American FX industry pioneer – Live from Peru
Warnings/Fines/Fraud Watch
- CySEC imposes administrative fine on Reliantco/UFXMarkets
- CySEC imposes EUR 20,000 fine on SkyFX/Trademarker
Legal
- New Zealand FMA continues to remove offshore firms from the FSP register
- South Africa Competition Commission probes bank Forex traders for price fixing
- UBS faces no criminal charges from DOJ on FX
- ASIC cancels 120 financial services licenses in H2 2014
- JPMorgan Chase & Co’s guilty plea for FX rigging to cost the firm $892 million
- RBS reaches $669 million settlement with US Department of Justice & Federal Reserve
- Citigroup to pay $1.66bn to settle US FX investigations, class action
- FMA obtains Asset Preservation Orders over Arena Capital Limited / BlackfortFX
- Bank of Russia gets request to hike maximum leverage to 1:100
Financial
- FXCM closes at all-time low following KBW price target cut to $1
- Plus500 shares in freefall, down 28% today, following large account freeze
- ICAP’s FY 2015 revenues drop 7%, profits down 15%
- SafeCharge’s shareholders agree to re-domicile business to Guernsey
- CME Group announces Q2 2015 dividend of $0.50 per share
- LMAX reports towering profits for 2014, up 80% over previous year
- Trading in Plus500 shares is suspended on AIM
- Swiss interdealer broker Tradition increases share capital by CHF 1.12 billion
Executive Moves
Offerings/Products/Services
- IG Group introduces commodities trading without expiries
- ICAP’s gives update on EBS eFix Matching solution one year after launch
- TradeToolsFX rolls out Binary Options Trader robot for MT4
- Poland WIG20 futures contracts now certified by CFTC
- Gold-i partners with Confisio to provide EMIR reporting tools to MT4 brokers
- Eurex’s Weekly Euro Bund options successfully launched
- Leverate launches LXLite – novel all-in-one brokerage solution
- Tradable advances social trading with ChatBox
- Tradesmarter to launch new web-based trading platform; focuses on interaction and engagement
- ICAP’s EBS and BrokerTec release new brand
- New MT4, MT5 builds are out: focus falls on MetaTrader Market
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