Forex Weekly Look Back: capital.com releases MetaTrader service in 2021, Plus500 extends sponsorship of Atlético de Madrid

Steffy Bogdanova
December 18, 2020 10:16 am

Looking back at the most intriguing and popular industry news from the past week between 14th and 18th December on LeapRate.

Managing Director of capital.com, Guilhem Tranchant sat down with LeapRate to tell us more about the CFD trading provider and their future plans. Guilhem talked about how the company has been managing through the pandemic and the market volatility. He reported that their volumes have grown over more than 900% in 2020, split between our three different entities and we expect next year’s volumes to be significantly higher.” Guilhem also shared insights on how, in his opinion, the global markets have been responding to the coronavirus and trends to expect in the new year. He also announced that capital.com will release MetaTrader service early in 2021.

The online service provider for trading CFDs Plus500 announced that it has extended its official main sponsorship agreement with Club Atlético de Madrid, for the 2021/2022 season. The broker has been the official main sponsor of Atlético de Madrid since June 2015. Plus500 will continue to benefit from a range of sponsorship and branding rights, including having the Company’s logo featured on the official jersey of the first team.

Retail FX and CFD broker, FXCM Group, has obtained a regulatory license from the Cyprus Securities and Exchange Commission (CySEC) just ahead of the Brexit transition period expiry. The locally formed FXCM EU Ltd. Received the Cyprus Investment Firm (CIF) licence on November 23, 2020. FXCM is still operating im Europe under its UK licence but it’s likely to transfer its ownership under the newly obtained CySEC license.

The financial market infrastructure company Brasil, Bolsa, Balcão (B3) has selected Genesis, the global financial markets software firm, to leverage its Low-Code Application Platform (LCAP) for Brazil’s financial markets. B3 advocates for best practices in corporate governance, risk management and sustainability. It supports Brazil’s economic growth and development by operating secure and resilient environments, increasing the security, solidity and efficiency of the market. The company’s scope of activities includes the creation and management of trading systems, clearing, settlement, deposit and registration of securities and acts as a central counterparty.

CLS, a financial market infrastructure group delivering settlement, processing and data solutions, announced that its long-standing settlement member, ANZ Banking Group Limited, has onboarded the Hungarian Forint, making it the first Asia Pacific bank to settle all 18 eligible currencies on CLS’s payment-versus-payment (PvP) system, CLSSettlement. Introduced in 2002, CLSSettlement mitigates the largest risk in FX – settlement risk. ANZ was among the first Australian banks to go live on the service and one of the six inaugural Asia Pacific banks to settle FX transactions on the system.

The global online trading platform IG Group Holdings plc issued its update on Tuesday on its net trading revenue for the second quarter of the financial year 2021, which ended on 30 November 2020. Following a strong first quarter, in the second quarter of the FY21, the brokerage saw total revenue of around £207 million. The group registered £209 in the first quarter of the financial year, which is slightly more than Q2. However, the Q2 was still up 71.4% year-on-year compared to £120.8 million in Q2 FY20.

Algorithmic trading software company AlgoTrader announced on Monday that Finab EOS VC Fund has invested a seven-digit amount into the company. The company’s Series A round reaches CHF 5.2 million with the new investment. The Series A round is led by Credit Suisse Entrepreneur Capital Ltd. along with investiere, Blockchain Valley Ventures, and NeueCapital. FinLab EOS VC Fund is a partnership between Block.one, the publisher of the blockchain software protocol EOSIO, and FinLab AG, one of the first and largest investors in financial services technologies and blockchain in Europe.

CLS, the market infrastructure provider of risk mitigation services to the global FX market, has released its operating metrics for November 2020. The average daily traded volume submitted to CLS was USD 1.787 trillion, up by 4.7% from USD1.785 trillion in October 2020.

Forex Weekly Look Back

Bitcoin broke records yesterday by soaring through its previous all-time high, up more than 15% in the past 24 hours. At the time of writing yesterday, bitcoin was trading around $22,838 – well above any previous high achieved by the cryptoasset. In its wake other peers such as ethereum are also soaring. ETH has hit a 2020 high of $652.76, up nearly 10% in the past 24 hours. Bitcoin is now the 13th-largest asset by market cap according to AssetDash and has a market cap of around $403 billion thanks to the latest price surge, making it nearly as valuable as US retail giant Walmart.

Derivatives marketplace CME Group announced on Wednesday its plans to launch Ether futures starting February 8, 2021, pending regulatory review. The new Ether futures contract will be cash-settled, based on the CME CF Ether-Dollar Reference Rate, which serves as a once-a-day reference rate of the US dollar price of Ether. They will be listed on and subject to the rules of CME.

The UK Financial Conduct Authority (FCA) established a Temporary Registration Regime to allow existing cryptoasset firms, who have applied for registration with the FCA, to continue trading. The UK watchdog advised customers of cryptoasset firms which should have applied to the FCA, but have not done so, to withdraw their cryptoassets or money before 10 January 2021.

The FCA fined Barclays Bank UK PLC, Barclays Bank PLC and Clydesdale Financial Services Limited (Barclays) £26 million for failures in their treatment of consumer credit customers who fell into debt or experienced financial difficulties. The UK watchdog found that Barclays pro-actively redressed these customers, paying over £273 million to at least 1,530,000 customer accounts since 2017.

The New York district court slapped a $7 million fine on interdealer broker TFS-ICAP and its two entities in New York and in London for clients’ deception and market misconduct. The US Commodity Futures Trading Commission (CFTC) charged TFS-ICAP LLC and TFS-ICAP Ltd. for representing bids and offers that had not been made to clients and for communicating to trades that had not occurred. TFS-ICAP admited that its employees engaged in the misconduct, known as “flying” prices and “printing” trades.

The Chicago Board of Trade (CBOT), a designated contract maker for CME Group, has announced penalty imposed on StoneX Financial Inc. over allegations of violating its trade transfer rule. StoneX received a fine in the amount of $20,000. The CBOT issued the fine on Friday, stating that the CBOT Business Conduct Committee found that on 23 and 30 October 2019, StoneX, in its capacity as a clearinghouse, “transferred positions between customer accounts with different beneficial ownership and without appropriate Exchange approval.”

LeapRate Analyst

Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.
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