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UK Prudential Regulation Authority clarifies policy on algorithmic trading

FinanceFeeds – After a consultation on the proposed new rules for algorithmic trading firms, the UK Prudential Regulation Authority (PRA) has earlier today published its Policy Statement (PS) and final Supervisory Statement (SS) concerning these rules. The statements are relevant to firms that engage in algorithmic trading and that are subject to the rules in the Algorithmic Trading Part of…

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IG Group presents upgraded IG Community forum

FinanceFeeds – Users of IG Community, the forum and support network for clients of electronic trading major IG Group Holdings plc (LON:IGG), must have noticed that the service was down for several hours yesterday and earlier today before it reappeared with a fresh new design and boosted functionality. The team behind IG Community explains that there has been work…

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GAIN Capital responds to TIBCO Software’s $22m claim for alleged software over-deployment

FinanceFeeds – Less than a month after TIBCO Software reiterated its allegations about software over-deployment against GAIN Capital, the online trading major has sought to reply to the accusations and has filed a set of counterclaims against the software firm. On Thursday, June 14, 2018, GAIN Capital filed an answer to TIBCO’s complaint with the California Northern District Court. The…

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Extradition procedure weighs on CFTC action against Australian trader accused of spoofing

FinanceFeeds – The United States Commodity Futures Trading Commission (CFTC) will need more time to proceed with its civil lawsuit against Jiongsheng (“Jim”) Zhao, an Australian trader accused of spoofing. This is indicated by documents filed by the US regulator with the Illinois Northern District Court on Thursday, June 14, 2018. The CFTC informs the Court that it remains…

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CFTC secures another default order in binary options, bitcoin fraud case

FinanceFeeds – The New York Eastern District Court has agreed with a request by the Commodity Futures Trading Commission (CFTC) and has issued an entry of default against The Entrepreneurs Headquarters Limited (TEH), an entity alleged to be at the heart of a $1.1 million bitcoin and binary options fraudulent scheme. The Clerk’s order says: “It appearing from the docket…

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Lucid Markets LLP to close due to losses

FinanceFeeds – Further to FinanceFeeds’ earlier report about a major reshuffle at the Lucid Markets LLP’s members list, there has been an update from the company. According to the latest filings with the UK Companies House, Lucid Markets LLP is going out of business. The reason for that – heavy losses. According to the annual report for 2017, the designated…

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Russian c-bank outlines new requirements about reporting the consequences of cyber incidents

FinanceFeeds – The Central Bank of Russia will change the reporting requirements for banks and operators of payment infrastructure, effective July 1, 2018. The new rules concern the reports about cyber incidents. The companies will have to submit more detailed information regarding the economic consequences of these incidents for the operators and their clients. In particular, the operators will have…

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FXCM UK Merger Ltd named designated member of Lucid Markets LLP

FinanceFeeds – Lucid Markets LLP, one of the businesses that FXCM Group actively markets for sale, has earlier today filed a set of documents with the UK Companies House. The filings reveal a number of changes concerning the members’ list of the limited liability partnership. Let’s note that a Limited Liability Partnership (LLP) consists of a number of members….

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