Category: Financial Services

October 22, 2024 BY Sam Boughedda

OptAxe Gains FCA Authorisation For FX Options Multilateral Trading Facility

OptAxe explained in a press release that it aims to address the inefficiencies and fragmentation of the current FX options market by providing a centralised platform for liquidity discovery, dissemination, and execution. "OptAxe offers an innovative and automated approach to FX options trading that digitises and centralises the distribution of FX options axes," the company…

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October 22, 2024 BY Sam Boughedda

GCEX Unveils New Price Feeds for Re-Aggregation

The new feeds are said to focus on enhancing spreads and optimising performance for aggregating brokers in the FX and precious metals markets. Designed to address the challenges faced by brokers in today's liquidity environment, the company said that XplorSkew and XplorSkewPlus leverage skewing to maximise the benefits of aggregation. GCEX explains that by compressing…

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Broadridge’s Fi360 and ProctorU partner to launch remote proctoring and identity management solution
October 21, 2024 BY Sam Boughedda

Broadridge Expands OTC Derivatives Reporting Capabilities

In addition, the company revealed in a press release that it is proactively expanding its offerings to include other regulatory regimes and asset classes, such as the Canadian rewrite and the Hong Kong rewrite scheduled for later dates. “We anticipate that the regulatory wave will continue, and we are proactively working on behalf of our…

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FCA
October 18, 2024 BY Sam Boughedda

UK Government Plans to Curb BNPL Risks with Regulations

The move aims to protect consumers and ensure that BNPL providers operate fairly and responsibly. On Thursday, the UK government launched a consultation on draft legislation to regulate the BNPL market. The proposed regulations seek to provide consumers with clear information, prevent unaffordable borrowing, and establish strong consumer rights. The FCA welcomed the government's consultation…

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October 18, 2024 BY Sam Boughedda

CME Group Launches New Australian Carbon Credit Futures

The new CBL Australian Carbon Credit Unit (ACCU) futures sawtotal of five contracts traded as a block between Freepoint Commodities and Mercuria on October 14, 2024, revealed CME. The new contract is designed to help clients manage the risks associated with carbon reduction strategies. "We are pleased to see industry interest and support for our new…

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October 18, 2024 BY Sam Boughedda

Bank Rakyat Indonesia Partners with Nium to Boost Cross-Border Payments in Indonesia

The firm explained in a press release that the collaboration aims to provide BRI's customers with faster, more convenient, and cost-effective international money transfers. Through the partnership, BRI's 150 million customers will have access to a range of real-time payment options, including bank account transfers, card payments, and digital wallets. This is said to be…

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ASIC ban
October 15, 2024 BY Sam Boughedda

ASIC Warns of 'Significant Increase' in Reports of Stolen Shares

The regulator explained in a release that fraudsters are impersonating individuals and stealing their shares, often leaving victims unaware until they receive unexpected notifications from share registries or the Clearing House Electronic Subregister System (CHESS). According to ASIC, there has been a significant increase in reports of stolen shares since August 2024. The regulator said…

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October 15, 2024 BY Sam Boughedda

UBS Told to Bolster Emergency Plans

The regulator informed the bank that it needs to ensure it can be wound down or sold without risking financial stability or taxpayer funds. As UBS integrates Credit Suisse, FINMA said it has suspended the annual approval of UBS's recovery and emergency plans. The regulator believes that additional measures are necessary to strengthen crisis preparedness…

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October 14, 2024 BY Sam Boughedda

CME Group International Daily Volume Hits New Record in Q3

The record number represents a 29% increase compared to the same period last year. According to the firm, the surge in international volume was driven by strong growth across all asset classes, with interest rate and equity products accounting for the majority of the increase. Interest rate products are said to have seen a record…

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October 11, 2024 BY Sam Boughedda

ASIC Cracks Down: Cancels Two Financial Services Licences and 11 Credit Licences

The cancellations took place based on various compliance failures. These reportedly included non-membership in the Australian Financial Complaints Authority (AFCA), late lodgement of annual compliance certificates, failure to submit financial statements, and non-payment of industry funding levies. ASIC explained that AFCA membership is mandatory for financial services and credit licence holders. The membership means consumers…

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