Category: Financial Services

October 08, 2024 BY Sam Boughedda

Instantia Seleects ION FX for Trade Execution and Risk Management

Instantia, which offers users a client-centric way to manage currency exchange, FX strategies, and cross-border payments, was said to be drawn to ION FX's comprehensive end-to-end processing functionality for FX cash and derivative products. ION added that Instantia also appreciated the ability to customise the user interface through ION APIs, which they believe improves the…

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October 08, 2024 BY Sam Boughedda

Nasdaq to Launch PureStream in Europe

PureStream, which is already available in the US and Canada, is expected to be introduced on Nasdaq Europe in the first quarter of 2025, subject to regulatory approval, the company said in its press release on Tuesday. PureStream is said to be designed to facilitate interactions between institutional investors with a common execution goal, enabling…

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October 07, 2024 BY Sam Boughedda

Revolut Calls for Meta Platforms to Reimburse Fraud Victims

According to Revolut's Consumer Security and Financial Crime Report, Meta platforms remain the primary source of scams reported to the company, accounting for 62% of all scams in the first half of 2024. They stated that Facebook was the most common source, followed by WhatsApp and Telegram. Revolut is concerned that Meta's data-sharing partnership primarily…

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October 04, 2024 BY Sam Boughedda

Marex to Acquire Aarna Capital and Expand Middle East Footprint

The move is said to expand the company's operations in the Middle East and grow its clearing business, aligning with its strategy to broaden its client base, diversify its operations and increase earnings resilience. Based in Abu Dhabi, Aarna Capital offers a suite of services across energy, base and ferrous metals, as well as financial…

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October 04, 2024 BY Sam Boughedda

MIH Renames Minneapolis Grain Exchange to MIAX Futures Exchange

The rebranding of the exchange is said to align with MIH's broader strategy to expand its futures offerings, leveraging the technology and expertise of MGEX. MIH said the flagship Hard Red Spring Wheat (HRSW) futures and options contracts will also be rebranded as Minneapolis Hard Red Spring Wheat futures and options, representing a new chapter…

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October 03, 2024 BY Sam Boughedda

DXtrade Partners with Finalto to Enhance Liquidity Provider Services

Finalto, an aggregator of Tier 1 bank liquidity providers and established non-bank market makers, offers a bespoke liquidity pool tailored to connect demand with market supply as quickly as possible. By integrating with DXtrade, brokers will have access to Finalto's liquidity services, including predictive and scenario analysis tools, real-time insights, and improved order execution. The…

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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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