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The Cyprus Securities and Exchange Commission (CySEC) today announced further extension of the suspension of the authorisation of the Cyprus Investment Firm Depaho Ltd. Depaho, which is the operator of brands such as FXGM, is allowed now until 19 November 2021 to proceed with the necessary actions in order to comply with the relevant provisions of…

Read More “CySEC further extends suspension of authorization of FXGM parent Depaho” »

Who stepped up and bought Playtech for £2.1 billion, a 58% premium to its market valuation? And, what does it mean for the pending sale of Playtech’s forex division, Finalto? Which former longtime LCG executive was hired as Trading 212’s new COO? What did ASIC say would happen to the temporary CFD leverage rules that…

Read More “FX week in review: Playtech sold, Trading 212 hires COO, Australia CFD rules” »

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” »

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” »

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” »

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” »

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” »

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” »