Simon Mugo
LeapRate Analyst

Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading.
Broadridge
March 21, 2024 BY Simon Mugo

Broadridge Partners With Baader Bank AG on Regulatory Reporting

The partnership will see Baader Bank adopting Broadridge's advanced reporting platform to navigate the complex regulatory landscape of multiple jurisdictions, including MiFID, FinfraG, EMIR, and SFTR. Already a user of Broadridge's front and middle office solutions, Baader Bank provides its clients with diverse financial instruments, such as equities, bonds, derivatives, and ETFs. Ben Cooling, Broadridge's…

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CLS
March 21, 2024 BY Simon Mugo

Upcoming US Stock Settlement Changes To Affect International Funds

This adjustment, set to take effect on May 28, contrasts with the T+2 cycle common in most other parts of the world. It will prompt industry participants to revisit their operational strategies to mitigate transaction failures and elevated trading costs. Ben Springett from Jefferies highlighted that adapting to this new cycle could necessitate higher cash…

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Christine Lagarde
March 20, 2024 BY Simon Mugo

ECB Refuses To Commit to a Rate Cut Path After First Rate Cut

Lagarde sought to temper expectations of a clear-cut path for rate cuts while acknowledging positive signs in recent wage and inflation trends. During a Frankfurt conference, she explained that "our actions will need to be informed by the latest data at each meeting without committing in advance to a fixed trajectory for future rates." Supporting…

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March 20, 2024 BY Simon Mugo

Lloyds Bank Partners With PayPoint on Card Payment Service

Under this new agreement, PayPoint has committed to a "significant investment" in Lloyds' card payments division, Cardnet. This investment is expected to bolster the capabilities and reach of Lloyds Bank's card services, enhancing the suite of payment solutions available to merchants across the UK. The partnership is designed to bring many advantages to merchants, offering…

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Robinhood app on mobile
March 19, 2024 BY Simon Mugo

Robinhood Launches UK Operations Without Margin Trading

A Robinhood spokesperson told Reuters that margin trading was temporarily halted while ongoing discussions with regulatory authorities occur. Margin trading, which provides traders with leverage to amplify their market positions, carries a high risk due to the potential for significant losses if markets turn adverse. Initially, Robinhood had a webpage for its UK audience detailing…

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Bank of Japan
March 19, 2024 BY Simon Mugo

BOJ Ends Negative Interest Rates With a First Rate Hike in 17 Years

This development positions Japan as the final major central bank to move away from negative rates, signalling the end of a global trend in which economies were buoyed by inexpensive capital and novel financial strategies. "We have transitioned back to a standard monetary policy that focuses on short-term interest rates, aligning with practices of other…

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Pepperstone logo1
March 18, 2024 BY Simon Mugo

Pepperstone Partners With Tennis Legend John McEnroe as an Ambassador

Australian tennis talent Alex de Minaur, who has already represented Pepperstone, is joining forces with McEnroe. McEnroe expressed his enthusiasm about the partnership, noting Pepperstone's known dedication to tennis and sharing a mutual zeal for the sport's advancement. McEnroe's induction as an ambassador underscores Pepperstone's dedication to fostering tennis globally. The brokerage has made its…

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Bank of Japan
March 18, 2024 BY Simon Mugo

Japanese Bank Starts Training Staff on Positive Interest Rates

About 3,300 employees of the Bank of Kyoto are being educated on the significance of interest rates, the process of determining lending rates, and the implications of rising interest rates for both the bank and its clientele through this program. The curriculum includes insights from veteran executives familiar with handling business in a positive interest…

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Doo Financial
March 15, 2024 BY Simon Mugo

Doo Financial Acquires Hong Kong SFC License To Trade Securities

The acquisition of the Type 1 license came after a thorough review of Doo Financial's operational framework, financial health, corporate governance practices, and the qualifications of its team, highlighting the firm's dedication to maintaining stringent compliance with regulatory standards. Armed with this new license, Doo Financial HK Limited is now equipped to carry out a…

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March 15, 2024 BY Simon Mugo

Capital.com Halts the Onboarding of New UK Clients, Maintains License

The decision comes despite the firm holding an active authorisation from the UK's Financial Conduct Authority (FCA) since 2018, indicating that its operating license remains unaffected. Prospective clients in the UK are notified on the Capital.com website, indicating a temporary pause in new client onboarding. The notice explains the company's rapid growth and commitment to…

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