Leading retail forex broker Saxo Bank has announced that it has issued additional Tier 1 capital (under the CRD IV and CRR regulation), via a perpetual callable bond offering totaling EUR 42.5 million (about $53 million, or DKK 317 million). The offering comes just as Saxo Bank reported one of its best months ever volume-wise,…
Read moreInterdealer broker ICAP (LON:IAP) saw its shares drop more than 10% on Wednesday, after the company released its results for the six months ended September 30 (ICAP has a March 31 fiscal year-end). The shares fell in heavy volume, with about four times the average number of shares changing hands. The drop is somewhat puzzling to…
Read moreUK regulated financial services companies had better ensure that their IT systems work properly. Using the excuse 'it was a computer glitch' doesn't fly any more. UK financial regulator the Financial Conduct Authority (FCA) has today fined the Royal Bank of Scotland (NYSE:RBS), National Westminster Bank (NatWest) and Ulster Bank a total of £42 million (about…
Read moreAustralia financial regulator ASIC has taken action to permanently shut down unlicensed FX broker KiwiFx Bank, operating via website www.kiwifxbank.com, formally incorporated as Vault Market Pty Ltd. ASIC has also removed KiwiFx Bank's sole director, Anamul Amin, from the financial services industry. This outcome continues what ASIC calls its crackdown on the FX industry. ASIC has…
Read moreBinary options platform provider TRADOLOGIC has announced a partnership with newly formed gaming company Iconic Corporation. Iconic is developing a multi-platform gaming destination, where casual, fun seeking gaming enthusiasts compete to predict the outcome of real-time or future events within a social, entertaining and competitive gaming environment. Iconic is currently operating under a Malta Gaming License issued…
Read moreContinuing a marked upturn since the summer, LeapRate’s Retail FX Volume Index climbed 6% in October to $360 billion ADV – making October 2014 the best month ever for retail forex brokers, besting June 2013’s record $341 billion. Several leading retail Forex trading platforms reported best-ever (or best-in-a-long-time) volume metrics for October such as: FXCM (first time…
Read moreOne of the biggest jurisdictions in the world is still without a Forex law, as lawmakers remain reluctant to discuss the Forex bill. The second reading of Russia's Forex bill, which was supposed to be finally held yesterday, got postponed again. A protocol from a meeting of the Council of the State Duma (the lower…
Read moreHong Kong based retail forex broker KVB Kunlun requested and received today a halt in trading of its shares on the HKEx (HKG:8077). Trading in KVB was halted at 1pm local time. Up to the time of the halt, KVB shares had dropped 8% on Wednesday, down to HK$1.06. As we reported, KVB shares skyrocketed…
Read moreInterdealer broker ICAP released its Half Year report today (to September 30, as ICAP has a March 31 fiscal year end), detailing a 15% drop in Revenues to £620 million (about $995 million) versus the same period last year. Within its Electronic Markets group, subdued trading volumes during most of the first half of the…
Read moreRussian exchange operator Moscow Exchange announced Q3 results today, including an 8% quarter-over-quarter rise in Revenues (16% year-over-year) to RUB 7.3 billion (about $153 million), and a 17% QoQ rise in net income (42% YoY) to RUB 4.1 billion ($85 million). Exchange management cited FX trading as the main contributor to growth, as Ruble volatility…
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