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The story of the bankruptcy of Australian Retail FX broker USGFX just got stranger. And, potentially, a lot bigger. The administrators for bankrupt Union Standard International Group Pty Ltd, which operated the USGFX.com brand in Australia, have issued an update for creditors of the company which details (lots of!) missing money offshore, uncertainty as to…

Read More “USGFX bankruptcy update: $14M missing with UPay, $137M deposit claims” »

Continuing our exclusive coverage of the bankruptcy of Australian Retail FX and CFDs broker USGFX, FNG has viewed the latest report to creditors issued by USGFX administrator-turned-liquidator BRI Ferrier indicating that fairly little progress has been made in sorting things out and recovering millions of missing client funds since the last USGFX bankruptcy update report…

Read More “USGFX bankruptcy liquidators: little progress, MetaQuotes blocking server sale” »

KX, a worldwide leader in real-time data analytics, announces the launch of ‘KX Academy’, an online portal for on-demand training. Accessible from the main KX website, the Academy marks a significant development in the overall KX training roadmap, giving both experienced and new KX users access to free, self-led, interactive training and on-demand training videos….

Read More “KX launches on-demand training portal KX Academy” »

Genesis, the low-code/no-code platform built for financial markets, announces the beta launch of Genesis Studio, a full-stack no-code builder tool, along with the Genesis Academy pilot education program, as part of its newest platform updates. Genesis Studio is a full-stack no-code development environment for building real-time applications for financial markets. It allows users to design…

Read More “Genesis introduces full-stack no-code builder tool Genesis Studio” »

Following the successful launch of Orion Central Gateway – Securities Market (OCG-C) and the relevant regulatory approvals, HKEX announces that a new risk management service – “Kill Switch”, will be introduced to the Hong Kong Securities Market for subscription by Exchange Participants (EPs) on an optional basis from 1 November 2021. “Kill Switch” is a…

Read More “HKEX to introduce “Kill Switch” on HK securities market” »

The European Commission has nominated the replacement rates for two interest rate benchmarks, the Swiss Franc London Interbank Offered Rate (CHF LIBOR) and the Euro Overnight Index Average (EONIA). Interest rate benchmarks – also known as reference rates, or benchmark rates – are publicly accessible interest rates. They form a basis for a range of…

Read More “European Commission designates replacement rates for EONIA, CHF LIBOR” »

FNG Exclusive… FNG has learned that Sofia Mashovets has resigned her position as Chief Marketing Officer (CMO) of Cyprus based Retail FX and CFDs broker Axiance. The company has posted a CMO job opening on a number of popular relevant sites. Axiance is a relatively new online trading brand being launched by CySEC licensed ICC…

Read More “Exclusive: Axiance CMO Sofia Mashovets resigns” »

Nobuaki Kobayashi, the Rehabilitation Trustee of MTGOX, has provided an update regarding the rehabilitation proceedings concerning the ill-fated Bitcoin exchange. The Rehabilitation Trustee announces that at a creditors’ meeting held on October 20, 2021 at the Tokyo District Court, the draft rehabilitation plan filed by the Rehabilitation Trustee with the Tokyo District Court on February…

Read More “MTGOX rehabilitation plan gets Court approval” »

Global Investment Strategy UK Ltd (GIS) and its principal and founder John William Gunn have failed to secure dismissal of a lawsuit brought by the United States Securities and Exchange Commission (SEC). This becomes clear from an order signed by Judge Alvin K. Hellerstein of the New York Southern District Court on October 19, 2021….

Read More “Global Investment Strategy UK fails to escape SEC action” »

Electronic trading major Interactive Brokers Group (NASDAQ:IBKR) today announced it went live with J.P. Morgan (NYSE:JPM) on Request for Payment, a real-time payment-related messaging service that is provided through The Clearing House RTP network. Request for Payment gives investors the ability to make instant deposits 24/7 to fund brokerage accounts and begin trading immediately. Request…

Read More “Interactive Brokers goes live with Request for Payment Service from J.P. Morgan” »