Sam Boughedda
LeapRate Analyst
September 02, 2024 BY Sam Boughedda

Nasdaq Futures, Inc. Fined $22 Million for 'Core Principle Violations, Failing to Fully Disclose Incentives'

The CFTC said it found that Nasdaq Futures, Inc. operated a "Designated Market Maker" (DMM) program that included a volume-based component that was not disclosed to the CFTC or the public. They explain that the component provided additional payments to select DMM program participants based on the total volume of contracts they traded. The CFTC…

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September 02, 2024 BY Sam Boughedda

Crypto Firm OKX Secures Singapore License, Appoints Gracie Lin as CEO of OKX SG

This approval allows OKX to offer digital payment token and cross-border money transfer services to customers in the country. This includes spot trading of cryptocurrencies for customers in Singapore. OKX has appointed Gracie Lin as CEO to spearhead its operations in Singapore. Lin brings a wealth of experience in the financial, public, and technology sectors, having…

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January 10, 2024 BY Sam Boughedda

Weekly data: Oil and Gold

The most important economic data for this week are: Thursday: Australian Balance of trade at 12:30 AM GMT where the expectations are for an increase reaching A$7.5 Billion in trade surplus. This might not have a significant effect on the Aussie Dollar since the data are for the month of November and might already have…

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Credit Suisse
December 28, 2023 BY Sam Boughedda

Credit Suisse Fined $3.9 Million by Singapore for Relationship Managers Misconduct

According to the MAS, the relationship managers provided clients with inaccurate or incomplete post-trade disclosures, resulting in their clients being charged spreads above the bilaterally agreed rates for 39 over-the-counter (OTC) bond transactions. For the 39 transactions, MAS stated that Credit Suisse's relationship managers made false statements to their clients regarding the executed interbank prices…

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StoneX
December 27, 2023 BY Sam Boughedda

StoneX to Adopt Swift Payment Pre-validation Service

Cross-border payments have notoriously been plagued by complexities, including regulatory hurdles, bank downtime, and rising competition. In addition, inaccurate beneficiary details alone account for nearly a third of failed cross-border transactions, incurring significant costs and delays, according to the financial services company. Recognising the challenges, Swift said it has introduced its Payment Pre-validation service, which…

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