US-based crypto exchange, Kraken, announced its intention to grow its operation in the Indian market following the recent ruling of the country’s Supreme Court to lift the ban against banks doing business with crypto companies. Kraken growth in India was until recently hampered by the Reserve Bank of India (RBI) ban. However, the company do…
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The US online trading services provider, GAIN Capital Holdings, Inc. (NYSE: GCAP), announces operating metrics for February 2020. The OTC trading volume for the retail segment was $198.7 billion, making a 23.1% increase in MoM and 47.8% up compared to February the previous year. The average daily volume OTC trading made a 35.6% MoM increase…
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ASIC has released new regulation for foreign financial services providers (FFSPs) that service Australian wholesale clients. Cathie Armour, ASIC Commissioner, noted: Our new regulatory framework facilitates Australian wholesale access to foreign investment opportunities, preserves market integrity against misconduct in wholesale markets, and strengthens ASIC's ability to take effective regulatory and supervisory action. Our ability to…
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Citi has shared its intention to reduce its global ambitions in the foreign exchange space since launching a review back in October of last year. To do so Citi will drop almost two-thirds of the trading platforms it gives currency quotes. The bank has made changes to its vendor platform requirements and cut 12 of…
Read moreMoneyNetint, global payment solutions provider, just announced its strategic partnership with foreign exchange specialist AFEX. The collaboration will improve MoneyNetint and allow it to wider range of services to its clients, taking advantage of AFEX’s API technology. MoneyNetint services clients around the world, processing and facilitating transfers of billions of dollars every year. The AFEX…
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CLS, US settlement services provider in the foreign exchange market, announced yesterday the first Japanese manufacturing company to access CLSSettlement as a third-party participant, Sumitomo Electric Industries (SEI). SEI is manufacturer of electric wire and optical fiber cables and is ranked in the Fortune Global 500. The company has a diverse global business portfolio in…
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The Cyprus Securities and Exchange Commission (CYSEC) announced in the end of last week the suspension of Cyprus Investment Firm (CIF) authorisation of Prior Capital Cy Ltd. The agency suspended CIF licence number 221/13 because of suspicions of an alleged violation of the Investment Services and Activities and Regulated Markets Law of 2017 regarding the…
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Hauke Stars who has served two terms as a member of the Executive Board of Deutsche Börse AG will not be available for a third. Therefore, the Supervisory Board of the company decided last week to appoint Heike Eckert as full member of the Executive Board of Deutsche Börse AG, effective 1 July 2020. Eckert…
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UK watchdog FCA has put out the details of several unregulated companies and clone firms this week. The names of the latest additions to the regulator’s warning list are the companies [email protected]; [email protected], Open Hub Pro, Fx Pro, GMGFX, Citigroup Asset Management / Citibank Asset Management, Bitmex, MTI24, Lend Finance, FX Goat / @_samfx_ and MCM FX / MCMFX. According to the…
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Moscow Exchange’s Supervisory Board approved the purchase of a minority shareholding in BierbaumPro AG on 5 March. The Board also approved an agreement to acquire up to 100% of BierbaumPro equity over a period of three years. The final price for the Bierbaumpro’s equity will depend on the company’s operational and financial performance. BierbaumPro’s main…
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