CME Group has published disciplinary notices against a number of traders who have engaged in disruptive practices and will have to pay fines and endure suspensions. The notices target: Fengqiang Wang, Yangfen Li, Wangquan Zhao, Qingquan Li, Qi Zhang, Liuyi Yang, and Li Li. In particular, the traders violated CME Rule 575, which states: DISRUPTIVE…
Read More “CME fines and suspends several traders for disruptive practices” »
Leading FX and CFDs brokerage group Plus500 (LON:PLUS) issued a half year trading update, indicating that its business slowed significantly in Q2-2021 in terms of both revenues and new client acquisitions in that the company called a “stable market environment”. Plus500 reported that Group revenue in H1 2021 was $346.2m, (H1 2020: $564.2m, H1 2019:…
Read More “Plus500 Q2 revenues down 30% QoQ to $143M, launches share dealing platform” »
The criminal proceedings against former JPMorgan traders accused of spoofing continue at the Illinois Northern District Court. As the trial of the defendants – Gregg Smith, Michael Nowak, Jeffrey Ruffo, and Christopher Jordan, approaches, more information about the proceedings has become available. The Department of Justice (DOJ) has provided the Court with a witness list,…
Read More “DOJ names 34 witnesses in lawsuit against ex-JPMorgan traders” »
FNG Interview… Many of you reading this will have gained experience working many positions before finding your current role. You may recall those lists of names and numbers that can be the dread of sales and retention shifts. Of course, some people are better suited to the task than others, but everyone knows it’s a pretty…
Read More “New PandaTS Next Call AI Module Increases Re-Deposits by 27%” »
Equals Group plc (LON:EQLS), a technology-led international payments group focused on the SME marketplace, announces that it was today notified that Richard Cooper, Chief Financial Officer, bought 61,000 ordinary shares of £0.01 each in the company on 9 July 2021 at a price of 46.9 pence per share. Subsequent to this purchase, Richard Cooper now…
The subtle war of words (and press releases) is continuing in the not-so-subtle fight between competing bidding groups for Playtech’s financials division, Finalto. After Playtech announced on Friday that it was going to postpone its shareholder vote on the previously agreed-upon sale of Finalto to an investor group led by Zvika Barinboim, the Barinboim group…
Read More “Barinboim Group “welcomes” Playtech shareholder vote delay on Finalto sale” »
Poland based Retail FX and CFDs broker XTB has announced that to the best of its knowledge the company has fulfilled all the conditions set for it by the Dubai DFSA regulator, in the application for UAE subsidiary XTB MENA Limited to be fully licensed in Dubai’s International Financial Centre (DIFC). The conditions referred to…
Read More “XTB completes Dubai DIFC license conditions, awaits approval” »
Topping the FX industry news charts this week was the press war that has broken out between the competing bidding groups for Playtech’s financials division – namely, the Finalto institutional B2B business and the Markets.com Retail FX and CFDs operation. Will the press war turn into a bidding war? How did Playtech itself react to…
Read More “FX week in review: Finalto/Markets.com buyer war, new FX broker CEOs and CFOs” »
The United States Commodity Futures Trading Commission (CFTC) may be approaching a resolution of its case against former Deutsche Bank traders James Vorley and Cedric Chanu. According to a status report filed by the CFTC at the Illinois Northern District Court on July 9, 2021, the parties are in talks to settle the matter. The…
Read More “CFTC, former Deutsche Bank traders discuss resolution of spoofing case” »
Investment bank and financial services firm Jefferies Financial Group Inc (NYSE:JEF) has filed its quarterly report for the three months to end-May 2021 with the Securities and Exchange Commission (SEC), with the report providing an insight into Jefferies’ involvement with FXCM Group LLC (FXCM). Jefferies has determined that it is not the primary beneficiary of…
Read More “Jefferies estimates max loss exposure due to FXCM involvement at $123.3M” »
