FNG Exclusive… FNG has learned via regulatory filings that FCA regulated FX and CFDs broker GKFX Financial Services Ltd has sharply cut its losses in 2020, although the company continues to downsize and see reduced revenues. After reporting a near £9 million loss in 2019, GKFX UK saw a loss of £2.9 million in 2020….
Read More “Exclusive: GKFX UK reduces loss in 2020 to £2.9M” »
It was a very mixed bag of FX industry news this past week, with some key management replacement moves at some key FX brokers, a rare ASIC license granted to an EU/UK broker, and some broker results sprinkled in for good measure. Who is in, and who is out, as CEO of MENA-focused Retail FX…
Read More “FX week in review: Amana replaces CEO, FX broker gets ASIC license, Saxo hits new low” »
Effective September 29, 2021, Cboe Global Markets will make available to Members a ‘Hard-to-Borrow List’ accessible via the Port Controls tool in the US Customer Web Portal application and Secure Web API, pending regulatory approval. The new Hard-to-Borrow List will allow Members to specify individual securities unavailable for short sales. Currently the Port Controls tool…
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A lawsuit brought by Richard Usher, a former Forex trader known for his participation in the “Cartel” chatroom, continues at the District Of Columbia District Court. In this case, the trader accuses the Department of Justice (DOJ) of illegally preventing him from accessing and using documents from the criminal proceedings against him in another case….
Read More “DOJ seeks to nix case brought by Forex Cartel trader” »
Popular French football club Paris Saint-Germain (PSG) has announced a multi-year partnership agreement with crypto trading platform Crypto.com, which will see Crypto.com become the Official Cryptocurrency Platform Partner of the Parisian club. The partnership will also include the release of exclusive Non-Fungible Tokens (NFTs) on Crypto.com’s native NFT platform: Crypto.com/NFT. In addition, for the first…
Read More “Crypto.com signs $30M sponsorship deal with PSG – paid partially in crypto” »
On 27 September 2021, Moscow Exchange (MOEX) will launch trading in international shares with settlement in US Dollars. Investors will be able to trade all international shares admitted to trading both in roubles and the currency of the issuer’s main listing (primarily USD). Trades in foreign securities denominated in USD will be settled on the…
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The UK Financial Conduct Authority (FCA) has published a final notice as to Master FinCapital Limited. The regulator has decided to cancel the firm’s Part 4A permission. Part 4A permission means the permission granted by the Authority to Master FinCapital Limited pursuant to Part 4A of the Act. The regulator explains that its decision is…
UK online broker CMC Markets Plc (LON:CMCX) today announces that Sarah Ing, a Non-Executive Director of the company, will be appointed as an Alternate Director of Gresham House plc, effective 15 September 2021. Sarah Ing will be appointed Non-Executive Director and Audit Committee Chair of Gresham House plc following the conclusion of the 2022 Gresham…
Read More “CMC Markets’ Sarah Ing to assume role of Alternate Director of Gresham House” »
The UK Financial Conduct Authority (FCA) today issued a statement regarding warning notices given to three individuals who allegedly engaged in market abuse. The FCA considers that between 1 June 2016 and 29 July 2016, the individuals, who were traders at a bank, deliberately engaged in market abuse. Specifically, the trader placed large orders for…
Read More “FCA issues notices to three futures traders over alleged market abuse” »
The start of the trial of former JPMorgan traders accused of spoofing has been shifted until July 2022. The Honorable Edmond E. Chang of the Illinois Northern District Court on Thursday set the jury trial for all four defendants – Gregg Smith, Michael Nowak, Christopher Jordan, and Jeffrey Ruffo, for July 5, 2022. The Court…
Read More “Trial of former JPMorgan traders accused of spoofing set for July 2022” »
