Those who follow the comings and goings in the currency trading world will no doubt be noticing the multitude of comments and commentary surrounding the just-released FX Global Code of Conduct. Well, here is a synopsis of some of those comments, from some leading FX sector executives: David Puth, CEO of CLS and Chairman of the…
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In less than two hours, on what might otherwise be a fairly slow day for Forex Industry News, prepare for a slew of press releases and commentary by a variety of FX industry participants (including on this site) on the about-to-be-released FX Global Code of Conduct. The new Code of Conduct, coordinated and formally issued by…
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Spanish regulator CNMV just issued another warning today against the forex companies: Tradev Ltd., operating at www.tradev.com website; DGX SYSTEMS LTD (PRIME FX BANK / PFXBANK), operating at www.pfxbank.com and www.pfx-bank.com; and FIRST INVESTMENTS CAPITAL MARKETS, operating at www.firstinvestmentscapitalmarkets.com/ and www.first-union-esp.com. CNMV confirmed that these entries are not licensed or registered and, therefore, are not…
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Cyprus financial regulator CySEC has issued a circular to CIF licensed brokers on the island regarding the new rules recently enacted in Spain for forex and binary options trading. As was reported at LeapRate back in late March, Spanish regulator CNMV issued new rules for brokers who offer leverage of more than 10x to Spain-based…
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Israeli financial regulator ISA (Israel Securities Authority) has fined the ATrade subsidiary (atrade.co.il) of global retail forex broker AvaTrade NIS 150,000 (USD 42,000), due to a misleading video the company was circulating as part of a recent promotional campaign. ATrade is one of six retail FX brokers which have received the relatively new ISA license,…
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FCA regulated Forex and CFD broker Plus500 Ltd (LON:PLUS) has added its voice to the general positive consensus of reaction to the new CFD brokerage and trading regulations put in place by Germany financial regulator BaFin. BaFin finalized new, relatively mild, rules for Forex and CFD brokerage, basically requiring just negative balance protection for German traders. No…
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Germany financial regulator BaFin has issued its final set of new rules to govern leveraged Forex and CFD trading, following proposals issued by BaFin back in December. And, much to the chagrin of both Forex and CFD traders in the country, as well as the brokers who serve the German market, BaFin stayed the course…
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Italian financial regulator CONSOB has issued a warning regarding Retail Forex broker UP4X, owned by Up4X Ltd and operating from website up4x.com. According to CONSOB, UP4X ltd is not authorized to perform investment services and activities in Italy. On the company's website it shows a license from offshore location Vanuatu. The company's main telephone line…
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Cyprus financial regulator CySEC, as part of its crackdown on the operations and business practices of licensed Forex, CFD and Binary Options brokers which operate in the country, has issued a new Circular entitled "Freedom to provide investment and ancillary services and/or perform investment activities in a third country." In the Circular signed by CySEC…
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The Depository Trust & Clearing Corporation (DTCC), the post-trade market infrastructure for the global financial services industry, today announced that the Securities and Exchange Commission (SEC) has approved rule changes allowing its Fixed Income Clearing Corporation (FICC) subsidiary to expand the availability of central clearing in the repo market, strengthening both the safety and efficiency…
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