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Australians lose $26.4m to investment fraud in H1 2018

FinanceFeeds – Australians reported losses of $26,378,380 due to investments scams in the first six months of 2018, according to the latest data from Scamwatch, the body operated by the Australian Competition and Consumer Commission (ACCC). The number of reports reached 1,796 in the first half of the year. The month with record losses due to such fraud was May…

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NEX Group confirms planned deal with CME remains on track

FinanceFeeds – Financial technology expert NEX Group PLC (LON:NXG) has earlier today published a trading statement for the quarter to June 30, 2018, updating on the planned deal with CME Group Inc (NASDAQ:CME). According to today’s announcement, the acquisition of NEX by CME London Limited (Bidco) and CME Group Inc remains on track. “As previously outlined, the transaction with CME remains…

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Interactive Brokers enables mutual funds trading via mobile app

FinanceFeeds – Online trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) has expanded the range of trading instruments available to users of its mobile applications. The latest versions of the IBKR Mobile app for iOS and Android devices now support trading in mutual funds. One may find a fund using the symbol or fund family name. The latest addition to…

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US Govt wants to cut questions about BBA’s discussions with Bank of England over LIBOR

FinanceFeeds – As the US case against Matthew Connolly and Gavin Campbell Black, former derivative product traders at Deutsche Bank who are accused of LIBOR rigging, gathers pace, so does the process of obtaining evidence. As FinanceFeeds reported earlier in July, the ex-traders are seeking to depose John Ewan, a former LIBOR Director of the British Bankers’ Association (BBA)….

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TP ICAP reshuffles top management, CEO John Phizackerley leaves

FinanceFeeds – There are major changes at the top ranks of TP ICAP PLC (LON:TCAP), as per an announcement made by the company earlier today. Nicolas Breteau John Phizackerley is leaving his post as Chief Executive and as a member of the Board of TP ICAP, with the change effective immediately. Mr Phizackerley has been replaced by Nicolas Breteau, who…

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Hong Kong’s SFC imposes $4m fine on Citigroup Global Markets Asia over alternative liquidity pool failures

FinanceFeeds – Citigroup Global Markets Asia Limited (CGMAL) has been fined and reprimanded by the Hong Kong Securities and Futures Commission (SFC) over failures by the company to comply with the regulatory requirements in relation to the operations of its alternative liquidity pool (ALP). In its Statement of Disciplinary Action, the SFC explains that the $4 million fine is…

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Evidence row between “FX Cartel” and US Govt deepens

FinanceFeeds – Less than a week after the United States Government said it could not and would not provide documents requested by three former FX traders – Richard Usher, Rohan Ramchandani, and Christopher Ashton, the defendants have once again insisted that the US authorities must make an extra effort to obtain evidence from foreign regulators. Let’s recall that the defendants,…

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TradeStation works on Ideastream project

FinanceFeeds – More projects continue to emerge from TradeStation Sandbox, a fintech accelerator and think-tank program, with the latest innovative solution in the works called “ideastream”. There is not much information about the project at this stage, but it is clear that the solution will allow traders to get ideas on a daily basis. The company says that Ideastream…

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Russian financial companies cannot act as intermediaries for foreign ones, c-bank warns

FinanceFeeds – The Central Bank of Russia continues its quest against companies that are not licensed in Russia but seek to find way to target Russian investors. Earlier today, the Bank made public a Letter to banks, non-credit financial firms and self-regulatory organizations, in which it warns Russian financial companies against serving as intermediaries for foreign companies. The Letter may…

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