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Australia financial regulator ASIC has issued a consultation paper on payment-for-order-flow (PFOF) rule amendments, and in particular to the prohibition on order incentives. ASIC said that it has identified that its rules do not deal with certain payment-for-order-flow scenarios, such as arrangements between non-market participant intermediaries, and proposes to close this regulatory gap. While the…

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The start of the trial of former JPMorgan traders Gregg Smith, Michael Nowak, Christopher Jordan and Jeffrey Ruffo, who stand accused of spoofing is postponed. This became clear during a telephone conference held on August 24, 2021. The Honorable Edmond E. Chang of the Illinois Northern District Court warned that the Court is still operating…

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Belgium’s Financial Services and Markets Authority (FSMA) today issued a warning regarding companies offering so-called ‘Expert Advisors’ or ‘EAs’. An Expert Advisor is a type of software that tells traders when to make certain trades or even carries them out for the traders automatically, based on preprogrammed parameters. The FSMA notes that ever more companies…

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CME Group has posted a notice of disciplinary action against Credit Suisse Securities (USA) LLC. The respondent has agreed to pay a fine as a part of a settlement over alleged breaches of CBOT rules. In relevant part, CBOT Rule 930. PERFORMANCE BOND REQUIREMENTS: ACCOUNT HOLDER LEVEL states: D. ACCEPTANCE OF ORDERS Clearing members may accept…

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Interactive Brokers Group, Inc. (NASDAQ:IBKR) today announces the launch of the Interactive Brokers Canada (IB Canada) Prepaid Mastercard. The Mastercard expands the cash management benefits available to IB Canada clients, adding the ability to offset transactions against their IB account balances. Currently, IB Canada clients can trade securities in over 135 global markets via trading…

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Electronic trading major IG has enhanced its web trading platform and mobile app, with the improvements likely to be appreciated by fans of technical analysis. The IG Community team today announced that both Super Trend and Volume Weighted Average Price Indicators are now available to use on the web platform and mobile app. SuperTrend The…

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State Street Corporation (NYSE:STT) today announced that its Collateral + business is operational with DTCC’s Margin Transit Utility (MTU), which has been designed for simplifying the transfer of collateral among market participants. By leveraging MTU, State Street’s Collateral+ business will now be able to more efficiently validate, enrich, settle, report and monitor third party collateral…

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The United States authorities continue with their proceedings against a large-scale binary options fraud that has evolved around Israel-based Yukom Communications. The criminal action, however, has not always led to prison sentences, as demonstrated by the latest update provided by the Department of Justice (DOJ). The DOJ has confirmed that, earlier in August, defendant Nir…

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Investment scams reported to Scamwatch have cost Australians over $70 million in the first half of this year, more than the total losses reported to Scamwatch for all of 2020. The projected losses are set to reach $140 million by the end of the year, according to the Australian Competition and Consumer Commission (ACCC). Data…

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Tokyo Stock Exchange, Inc. (TSE) announces that Phillip Securities Japan, Ltd. has joined the list of brokers to provide connectivity to CONNEQTOR from today. As a result, institutional investors will be able to trade via CONNEQTOR with a total of 11 securities companies. TSE launched the RFQ (Request For Quote) platform, CONNECTOR, in February 2021…

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