Sam Boughedda
LeapRate Analyst
CFTC
October 02, 2024 BY Sam Boughedda

CFTC Orders Taiwanese Firm Taishin Securities to Pay $200,000 for Wash Sales

The CFTC revealed that Taishin executed 50 wash trades between October and December 2022, totaling 175 contracts worth approximately $17 million. The trades were designed to minimise market competition by offsetting purchases and sales of the same futures contract at the same price, effectively negating the risk and price competition inherent in open market transactions.…

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October 02, 2024 BY Sam Boughedda

ASIC Cancels Prospero Markets AFS License

Prospero's AFS license was suspended in December 2023 after the company failed to submit its 2023 audited financial accounts. Following an application by ASIC, the Federal Court ordered Prospero to be wound up and liquidators appointed in April 2024. Under the Corporations Act, ASIC said it has the power to suspend or cancel an AFS…

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Euronext
October 02, 2024 BY Sam Boughedda

Euronext Expands Services with Acupay Acquisition

Founded in 2005, Acupay offers a suite of technology services that help cross-border investors avoid double taxation. Its proprietary solution connects brokers, banks, and securities issuers, enabling custodian banks to prepare tax certificates electronically and allowing investors to effectively manage the impact of foreign withholding tax. Euronext said the acquisition will further expand its services…

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October 01, 2024 BY Sam Boughedda

CME Group Set to Launch Yen- and U.S. Dollar-Denominated Micro Nikkei Futures

These new micro-sized contracts, valued at 50 yen and $0.50, respectively, "will allow traders to capture Japanese benchmark trading opportunities with greater precision and will add to CME Group's existing suite of standard and E-mini Nikkei contracts," said CME Group. They will complement CME Group's existing suite of standard and E-mini Nikkei contracts. "The addition…

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October 01, 2024 BY Sam Boughedda

Standard Chartered's Head of CFCC Tracy McDermott to Retire

McDermott has been with Standard Chartered since March 2017, holding various leadership roles, including Group Head of Corporate, Public and Regulatory Affairs, and taking on responsibility for Compliance and Financial Crime in subsequent years. To fill McDermott's position, Standard Chartered has appointed David Howes as Group Head, Compliance, Financial Crime and Conduct Risk (CFCR), effective…

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Robinhood
October 01, 2024 BY Sam Boughedda

Robinhood Crypto Launches Crypto Transfers in Europe

The feature allows users to deposit and withdraw over 20 cryptocurrencies, including major players like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). “With the launch of crypto transfers in Europe, we’re making self-custody and entering DeFi simpler and more accessible for our customers,” commented Johann Kerbrat, VP and GM of Robinhood Crypto. “Support for deposits…

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saxo bank revenues
September 30, 2024 BY Sam Boughedda

Saxo Shuts Hong Kong Office Amid Shifting Business Landscape

The decision comes amidst ongoing geopolitical tensions and a broader economic slowdown. This was a "necessary decision," Saxo Bank stated in a press release. The firm said it will prioritise a "smooth offboarding process" for its affected clients, with new account openings ceasing immediately and restrictions placed on existing accounts starting November 1st. The closure,…

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September 30, 2024 BY Sam Boughedda

XS.com Announces Partnership With Brokeree For Advanced Copy Trading Solutions

The integration of Brokeree's copy trading solution is a step forward in XS.com's ongoing effort to equip clients with cutting-edge tools. The feature allows traders to mirror the strategies of experienced and successful market participants in real-time. The development is, according to the broker, particularly valuable for new traders seeking to learn from seasoned professionals…

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September 30, 2024 BY Sam Boughedda

CME Group to Launch Spodumene Futures Contract

This expansion of its battery metals suite aims to provide the market with enhanced hedging capabilities and better price risk management tools. "The spodumene futures contract launch with the CME Group marks a significant step forward for the lithium market," commented Raju Daswani, Chief Executive Officer at Fastmarkets. "With this contract, the industry gains a tool…

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