Danske Bank A/S has entered into an agreement with OP Financial Group in Finland and the consortium of banks behind Vipps in Norway to merge the three mobile payment providers MobilePay, Vipps and Pivo. The ambition is to create Europe’s best and most comprehensive digital wallet. Serving 11 million users and over 330,000 shops and…
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Restrictions will be introduced on the offering of turbos to Dutch retail investors, with effect from 1 October 2021. There will be a leverage limitation, a mandatory risk warning and a prohibition on bonuses for trading turbos, the Dutch Authority for the Financial Markets (AFM) confirmed today. The restrictions include: Leverage limitations reduce the financial risk…
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Millennium Global, one of the world’s largest currency managers, has announced that it has launched MillTechFX – an independent, comparative multi-bank FX marketplace which reduces FX execution costs and operational burdens, with the backing of Sir Ronald Cohen, widely known as ‘the father of British venture capital’. The business has been in build mode for…
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FNG Exclusive… FNG has learned that Spanish financial regulator CNMV is looking at taking fairly drastic action against foreign Forex and CFD brokers, which might include the outright banning of many brokers from providing service to Spanish traders. The (potential) action would not be against the websites of offshore brokers, whom the regulator already often…
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In one of the first major moves it has taken since basically breaking away from coordinating retail investor rules with European financial regulator ESMA as EU-UK license passporting is coming to an end, UK regulator the FCA announced today that it is banning the sale of derivatives that reference certain types of cryptoassets to retail…
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FNG Exclusive… FNG has learned from sources in Israel that social trading focused online broker eToro is getting set to announce a going-public transaction, that will value the company at approximately $10 billion. eToro will apparently eschew the traditional IPO process, and go public via a combination with one or more SPACs. The company is…
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The 131.00 area stalls the fall. The EURJPY has trended lower over the last few days after breaking out of a channel yesterday. It also extended outside of an up and down trading range that has confined the market since mid-May (see Red Box). The fall today saw the price move down to a low…
