OANDA and GAIN Capital have agreed on rigid restrictions regarding access to source code, as the patent infringement lawsuit brought by OANDA continues at the New Jersey District Court. Let’s recall that, in this lawsuit, OANDA alleges that GAIN infringes two of its patents, U.S. Patents No. 7,146,336 (the ʼ336 Patent) and 8,392,311 (the ʼ311…
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Exchange services group Aquis Exchange plc (LON:AQX) today announced the appointment of Daniel (Danny) Lopez to the board of its subsidiary, Aquis Stock Exchange (AQSE). Mr Lopez will an independent non-executive director (NED) of AQSE. His appointment has received approval from the FCA. Mr Lopez brings a deep knowledge of next-generation technology to AQSE, with…
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Online brokerage firm FXCM Group has announced the addition of Australian shares to its fast-growing, commission-free Single Share CFD offering. Starting from trade sizes as small as 1/10th of a share, FXCM clients can now speculate on the growth or decline of Australian listed firms without incurring the hefty commission and data subscription fees charged…
Effective September 15, 2021, Cboe Options Exchange (C1), C2 Options Exchange (C2), BZX Options Exchange (BZX), and EDGX Options Exchange (EDGX) will begin supporting enhanced price sliding for Market-Maker (MM) quotes. Currently, MM quotes are rejected when entered at a price that crosses the contra side NBBO. MM quotes that lock the contra side NBBO…
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Deutsche Börse Group’s post-trade services provider Clearstream has obtained the CSDR licence for banking services for Clearstream Banking AG, its German central securities depository (CSD). The licence was granted by the German Federal Financial Supervisory Authority BaFin pursuant to Art. 54 CSDR (banking services). The authorisation is effective as of 24 August 2021. The Central…
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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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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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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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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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