This past week the forex world witnessed two interesting product launches. First, it looks like Dukascopy will enter the mobile payment business, the tech savvy Swiss based brokerage house and forex bank will be entering a tough market but look to capitalize on the ever so growing mobile market. Similarly, an intersting product lunch in collaboration with CQG, SoVesTech launched a trade leader copy trader application for trading spot FX and Futures, the key is the application is mobile only, with no desktop alternative. If you missed it, you can read more about these product launches in the featured links below.
Also last week, Dr. Omar Zerafa, Advocate at Zerafa Advocates detailed the full extent of Malta’s new rulings on binary options regulation. Malta continues to be a secure a welcome alternative for European based forex trading firms looking for secure regulation and MiFID II pass-porting.
Finally, the first glimpse of July volumes from BATS Hotspot ECN showed a decrease from June. Is this an outlier or will July’s industry volumes surpass the broad surge we witnessed over the last couple of months, with a number of record setting metrics from both retail and institutional venues, we shall find out soon. Make sure to stay tuned to LeapRate…
Be sure to check out last week’s featured stories as well as a complete run down of the week below:
– Forex brokers lost more than $400 million in market value last week – LeapRate Exclusive
– Full details of Malta’s new binary options regulation
– Playtech shareholders approve acquisition of AvaTrade
– LeapRate Interview: PhillipCapital brings Forex and global heritage to London
– FXCM Stock Trading set to be sold to AS Expobank – LeapRate Exclusive
– SoVesTech launches broker agnostic mobile app – “TradeShare”
– Dukascopy launches business for mobile instant payments – Dukascopy Payments SIA
– China readies Forex mandates for foreigners to trade commodity futures
Forex Industry Rundown for the Week of July 27th, 2015
Volumes
– CME Group sees Forex volumes shrink 5.4% QoQ in Q2 2015
– Hotspot July volumes lowest since 2012 as summer slowdown hits FX trading
Interviews/Features
– Is there life beyond MT4? – The Forex Industry Talk Show
Warnings/Fines/Fraud Watch
– Russia’s CRFIN blacklists investment project Falcon-Trade
– Swiss FINMA warns of unauthorized broker UK Options
– Hong Kong SFC fines Nomura HK$4.5 million for failure to report trader misconduct
– FCA bans another ex-Rabobank trader over LIBOR fraud
– NFA suspends CTA Jonathan Parker from membership
– Japan’s FSA warns of binary options broker MAX GAIN (100 Options)
– Forex Ponzi Scheme lands $76 million fine in non-existent Black Diamond currency trading platform case
Legal
– ASIC will now charge companies it investigates for costs
– EIMF financial education institute in Cyprus receives UK-CISI accreditation
– ASIC starts proceedings in court against unlicensed traders
Financial
– Monex Group reports very stable results for first quarter of fiscal year with revenue of 14.1 billion yen
– EXNESS Q2 audit by Deloitte confirms volumes growth and client withdrawals
– “Black Thursday” events weigh on Swissquote H1 profits, but revenues rise
– SGX sees net profit rise 9% YoY in FY2015
– Renminbi adoption gains pace in South Africa: SWIFT
– BGC Partners sees Forex segment revenues jump 67% in Q2 2015
– Monex sees net profit rise 14.6% QoQ in Q1 2016
– Playtech shareholders to vote on Plus500 deal on August 19th
Executive Moves/Office Expansion
– Tony Dalton takes helm at R.J. O’Brien Forex division
– CLS chief exec David Puth becomes chairman of BIS Market Participants Group
– Acuity Trading hires VP of Sales and takes up residence in the City of London
– FOREX CLUB names Michael Geiger new CEO
– ICAP’s EBS BrokerTec forms combined Executive Management Team
– – Christopher Woolard joins Board of FCA
Retail Offerings/Services
– Questrade set to launch new IQ trading platform
– UKForex rolls out money transfer mobile app
– FX Blue updates TradeTalk application
– Optimal Payments partners with Revolut in launch of new multi-currency card
– Forexware seals agreement with Fu Li Lai in Shanghai to sell into Chinese Forex platform market
– New version of MultiCharts .NET is out
Leading Australian forex broker AxiTrader unveiled a slick new web site last week…
Broker Updates
– AxiTrader GUI and website get a new look
– FxPro revises margin requirements for futures trades
– Former TradeNext executives launch new London based FX brokerage – LeapRate Exclusive
– Admiral Markets to reduce commissions on ECN accounts
– One Financial Markets expands UAE operations with senior appointments and new offices
– IC Markets expands CFD lineup
– FxPro updates cTrader app for Android
– DMM FX to relocate trading system servers to Equinix TY3 Data Centre
– GMO Click postpones further the release of upgraded FX Neo platform
– GKFX seals 3-year sponsorship deal with AC Milan
– Japan’s Invast to stop offering EUR/CHF, GBP/CHF trading
– GFT announces migration of clients to City Index
– Rakuten starts handling trades of FXCM Japan clients
Institutional Offerings/Services
– ICE Futures Singapore names vault operator, assayer for new Gold contract
– ICAP’s EBS BrokerTec to add Forex offering onto MyTreasury
– London Metal Exchange now accepts offshore renminbi as collateral
– RBC launches ‘Emerging Markets Foreign Exchange Fund’
– TFX expands scope of discount program for Euroyen futures
– IS Prime enables clients to offer Prime of Prime by white labeling their front to back offering
– 1 in 4 fund managers believe it’s “highly likely” they will face competition from new entrants
– Corporate FX advisory GPS Capital Markets expands with new Atlanta office
Bitcoin/Cryptocurrency
– Deadline for filing claims against MTGOX expires
– Bitcoin Shop changes name to BTCS, releases new website
– ASIC issues another stop order for Bitcoin Group’s IPO
– Mt Gox saga continues as former CEO Mark Karpeles arrested in Tokyo