June 14, 2016 BY LeapRate Staff

BNY Mellon pays (another) $30 million fine for mispricing FX transactions in its Standing Instruction service

After settling a series of lawsuits for $714 million regarding allegations that it overcharged pension funds and other clients for FX services, Bank of New York Mellon Corp (NYSE:BK) will pay an additional $30 million penalty after US regulator the Securities and Exchange Commission (SEC) found more than a decade of violations in its foreign exchange business. According…

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June 14, 2016 BY Mike Fox

Belize financial regulator catches TRADE24 forging regulation

Another entity this week has been caught by Belize regulator the International Financial Services Commission of Belize (IFSC) forging and falsely representing regulation. Last week, a Forex EA claiming regulation was called out in a public warning. To begin this week it has come to the notice of the IFSC that an entity calling itself ‘TRADE24 Investments Ltd.’ is…

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June 13, 2016 BY Mike Fox

Ripple receives first NY BitLicense for institutional use of digital assets

Early last year, the state of New York began requiring a license to engage in virtual currency activity. Ripple engaged with New York’s Department of Financial Services (DFS) and today received a “BitLicense” to sell and custody XRP, the digital asset native to the Ripple Consensus Ledger, for institutional investors and financial institutions in New…

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June 13, 2016 BY LeapRate Staff

Microsoft buying LinkedIn for $26 billion

Who said that business social networking didn't pay? In a bid to shake up its somewhat stagnant software business and become more of a serious online player, especially when it comes to people interacting online, Microsoft Corporation (NASDAQ:MSFT) has made a $26.2 billion bid to buy business social networking site LinkedIn Corp (NYSE:LNKD). LinkedIn has become…

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June 13, 2016 BY LeapRate Staff

HKEX adds Webstock Info Systems and Zhengzhou Esunny to market data distribution programme

Hong Kong Exchanges and Clearing Limited (HKEX) has admitted two additional information vendors (IVs) to its Mainland Market Data Distribution Partnership Programme to further enhance the distribution of prices and other product information from its derivatives markets to Mainland investors. The new vendors approved are Webstock Information Systems, and Zhengzhou Esunny Information Technology. The Mainland Market Data…

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June 13, 2016 BY Mike Fox

RoboForex increases margin requirements and limits trades for "Brexit"

The Belize IFSC regulated RoboForex division announced today limitations on leverage across, MT4, MT5 and cTrader platforms on GBP instruments, as well as "Close only" notifications for MT4, MT5. As traders know, the June 23rd 2016, UK referendum is approaching for "Brexit", on the country exiting the European Union (EU). Therefore, all currency pairs with the British…

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