Firstmac Fined $8 Million for Breaching Design and Distribution Obligations LeapRate

January 24, 2025 BY Sam Boughedda

Firstmac Fined $8 Million for Breaching Design and Distribution Obligations

It marks the Australian Securities and Investments Commission’s (ASIC) first civil penalty action against a distributor for DDO breaches. ASIC explained in a press release that the case centred on Firstmac’s marketing of its High Livez investment product, a registered managed investment scheme, to 780 existing term deposit holders between October 2021 and September 2022. …

January 24, 2025 BY Sam Boughedda

Acuity Trading Partners with cTrader

The collaboration brings Acuity’s suite of innovative tools directly to cTrader users, delivering features such as the AI-powered Research Terminal, NewsIQ, and AssetIQ, alongside Economic and Corporate Calendars. The tools are aimed at providing traders with market insights, curated trade ideas, and asset-by-asset analysis. They will all fully be embedded into cTrader's Plugins functionality. “This…

January 23, 2025 BY Sam Boughedda

TMX Group Launches New ATS Venue AlphaX US

It marks the Toronto-based company’s markets division's first venture outside Canada, as it aims to expand its reach in global markets. AlphaX US is designed for trading Regulation NMS common stocks, exchange-traded funds, and American depositary receipts. Open to FINRA-registered broker-dealers, the platform is said to provide a range of innovative features aimed at improving…

IG Group appoints Ben Hemington as the company's first ESG Manager

January 23, 2025 BY Sam Boughedda

IG Group Revenue Rises 11% in H1

The company revealed in its interim results, released Thursday, that net trading revenue rose 12% year-on-year to £451.7 million, with adjusted pre-tax profit up 30% to £266.8 million, reflecting lower costs and an adjusted profit margin of 51.1%. Adjusted earnings per share surged 42% to 55.3p, and the company announced an increased interim dividend of…

January 23, 2025 BY Sam Boughedda

Monzo Leans Towards US For Market Listing - The Times

According to a report by The Times this week, the fintech's board is divided, with CEO TS Anil said to be favouring the US for its initial public offering (IPO), while other directors advocate for a UK listing. The decision comes amid growing speculation about a possible IPO following Monzo's strong financial performance last year.…

January 22, 2025 BY Sam Boughedda

UBS Financial Services Fined By FINRA for Inaccuracies in Transaction Information

The settlement, revealed in a Letter of Acceptance, Waiver, and Consent (AWC), arises from issues in UBS FSI’s reporting of “blue sheets” between December 2012 and September 2018. Blue sheets contain critical transaction details used by regulators to investigate potential market misconduct, including insider trading and market manipulation. FINRA said UBS FSI misreported or omitted…

January 22, 2025 BY Sam Boughedda

BUX and State Street Partner to Expand Investment Plans for European Investors

The collaboration will see BUX grant clients access to SSGA's SPDR ETFs alongside educational resources. The company said the flexibility of its investment platform allows investors to set up personalised investment plans that align with their financial goals, and “by including access to SSGA SPDR ETFs, BUX’s clients have the opportunity to further diversify their…

January 22, 2025 BY Sam Boughedda

NYSE IPO Index Launched by Intercontinental Exchange

The firm said in a press release that NYSEIPO is a new equal-weighted index designed to track the performance of companies recently listed on the New York Stock Exchange (NYSE). This includes companies that have undergone IPOs, direct listings, spin-offs, and uplistings from OTC or international markets over the past three years. Lynn Martin, President…

January 21, 2025 BY Leaprate Staff

How 2025 US Tariffs Will Impact Global Markets

What did President Trump say about tariffs? Trump has signed a series of executive orders aimed at reshaping US border and energy policies, as well as dismantling diversity programs within federal agencies. These actions, taken on his first day in office, include a declaration of a national energy emergency and directives to promote fossil fuel…

LME proposes requirements for the responsible sourcing of metal in listed brands

January 21, 2025 BY Sam Boughedda

Hong Kong Approved as Warehouse Location By London Metal Exchange

The decision means Hong Kong is the 33rd location in the LME’s network, which stretches across the USA, Europe, and Asia. Matthew Chamberlain, LME CEO, stated, “The addition of Hong Kong to our global warehousing network is an exciting development, providing warehouse facilities closer to the metals hubs of Mainland China than ever before. “Mainland…