+1 213 8086 023 info@snw.media

Leading US exchanges aim to defend themselves in HFT case

FinanceFeeds – Several major US exchanges, including Bats Global Markets, Inc. (now known as Cboe Bats LLC), Chicago Stock Exchange, Inc., Direct Edge ECN, L.L.C., NYSE Arca, Inc., Nasdaq OMX BX, Inc., New York Stock Exchange, L.L.C., and The Nasdaq Stock Market L.L.C., have sought to reply to allegations that they created a two-tiered system that favoured high-frequency trading…

Read More

Japan’s Rakuten Securities to release MARKETSPEED II platform in autumn of 2018

FinanceFeeds – Japanese retail Forex broker Rakuten Securities, a subsidiary of Rakuten Inc (TYO:4755), is planning to enlarge the platforms offering. The company aims to launch MARKETSPEED II platform in the autumn of 2018. The first improvement that the broker promises is the higher speed of order execution, as well as faster speed of delivery of investment information. Another…

Read More

Court agrees with ex-MtGox customers about Mizuho’s fraudulent concealment of material info

FinanceFeeds – Former customers of ill-fated Bitcoin exchange Mt. Gox have secured an important win at the California Central District Court in a case targeting Mizuho Bank, which has been accused of creating transaction difficulties for MtGox’s customers, thus causing them to suffer losses. Mizuho has tried to rebuff the claims but, according to documents recently filed with the Court…

Read More

HM Treasury official says SFO has not charged any organisation with LIBOR rigging

FinanceFeeds – The role of the Serious Fraud Office (SFO) with regard to prosecuting misconduct related to benchmark rate manipulation has once again attracted the attention of lawmakers, as the Chancellor of the Exchequer was asked to provide information on how many (a) individuals and (b) organisations have been charged with rigging LIBOR since 2010; and what the outcome…

Read More

PRA clarifies its expectations regarding firms with exposure to crypto-assets

FinanceFeeds – The UK Prudential Regulation Authority has specified its expectations of firms that have exposure to crypto-assets. In a “Dear CEO” letter addressed to top executives of banks, insurance companies and designated investment firms, Sam Woods – Deputy Governor and Prudential Regulation CEO of the PRA, warns that crypto-assets raise concerns related to misconduct and market integrity – many…

Read More

NAB to update remediation program for wholesale spot FX business

FinanceFeeds – National Australia Bank Limited (NAB) will have to update a program concerning its wholesale spot FX business to which it agreed in December 2016 after an independent expert has detected deficiencies in the implementation of the program. The Australian Securities and Investments Commission (ASIC) says it has accepted a variation to an enforceable undertaking provided by NAB relating to…

Read More

French regulator redirects cryptocurrency fraud case to public prosecutor’s office

FinanceFeeds – France’s financial markets authority (AMF) has been active in trying to protect investors from cryptocurrency fraud. In March this year, for instance, the regulator started publishing a “black list” of cryptocurrency websites that illegally target French residents. But such scams continue to proliferate and the AMF has recently been forced to act against an impostor related to a…

Read More

ASIC warns CFD, FX and binary options brokers about unsound practices

FinanceFeeds – The Australian Securities and Investments Commission (ASIC) has underlined its concerns about certain practices in the retail over-the-counter (OTC) derivatives sector which fail to meet its expectations. The regulator warns about the following practices: misleading marketing materials; unclear pricing methodologies; inadequate risk management practices; inadequate monitoring of counterparties; inappropriate referral arrangements. The regulator has recently conducted a review…

Read More

Suite wants to drop lawsuit against Currenex (again)

FinanceFeeds – The dynamics of a copyright infringement lawsuit targeting Currenex, Inc., State Street Corporation and its wholly-owned subsidiary State Street Global Markets LLC, have been developing in the spirit of the popular song “I Hate You Then I Love You”. The plaintiff – Suite LLC, a vendor of quantitative financial analytic software, on Wednesday filed a Letter with the…

Read More