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Settlement
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Institutional FX
90% of Market Participants See Elevated Risk in Moving to T+1 Settlements
The US decided to move from T+2 to T+1 settlements in May 2023.
According to the UK's market players, it may increase the risk of trade failures and penalties.
Thursday, 23/03/2023 | 09:06 GMT
by
Damian Chmiel
Institutional FX
US Regulator Adopts Rules to Enforce Single-Day Securities Settlement
The SEC sets May 28, 2024, as the compliance date.
The securities regulator started enforcing the current T+2 cycle in 2017.
Wednesday, 15/02/2023 | 20:50 GMT
by
Solomon Oladipupo
Retail FX
After 6 Years Global Brokerage Settles for $6.5m in Class Action
Global Brokerage's case against its former investors began in 2017.
After six years, the brokerage decided to settle for 37% of the potential damage suffered by traders.
Monday, 06/02/2023 | 12:06 GMT
by
Damian Chmiel
Institutional FX
FINRA Slams $165k Fine on Instinet for Data Inaccuracy and Poor Supervision
Instinet published 54 inaccurate monthly reports between 2015 and 2019.
The broker also under-reported about 5% of the total covered orders during the period.
Monday, 12/12/2022 | 20:09 GMT
by
Solomon Oladipupo
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Institutional FX
Credit Suisse Agrees to Pay $234m Settlement in France
Swiss banking giant settles court case with the French prosecutors.
In October, the institution approved settlements worth more than $700 million.
Monday, 24/10/2022 | 10:30 GMT
by
Damian Chmiel
Institutional FX
Credit Suisse to Pay $495m Settlement Related to 2008 Financial Crisis
Settlement is related to the 'Residential Mortgage Backed Securities' part of the business.
Credit Suisse, in the past, paid a settlement that was ten times higher for the same misconduct.
Monday, 17/10/2022 | 09:34 GMT
by
Damian Chmiel
Brokers
CySEC Settles with Royal Forex for €270K over ‘Possible Violations’
The regulator did an on-site investigation of the brokerage in March 2019.
Tuesday, 06/10/2020 | 12:49 GMT
by
Arnab Shome
Institutional FX
Koine Secures In-Principal Approval In the UAE
The approval provides custody in relation to virtual assets in the Abu Dhabi Global Market
Monday, 18/05/2020 | 09:15 GMT
by
Finance Magnates Staff
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Execution
CLS Adds Metrobank as Third-Party Participant to CLSSettlement
Metrobank is the first Philippine bank to be added to the settlement service.
Monday, 17/02/2020 | 10:10 GMT
by
Celeste Skinner
Execution
R3, Fnality & Finteum Join Forces to Improve FX Inefficiencies
The partnership will focus on intraday forex swaps between large institutions.
Wednesday, 18/09/2019 | 12:27 GMT
by
Celeste Skinner
Execution
CLS Adds First Chinese Third-Party Bank to CLSSettlement
The addition of CNCBI follows a larger trend of increased awareness of FX settlement risks.
Tuesday, 06/08/2019 | 08:07 GMT
by
Celeste Skinner
Execution
CLS Launches Same-Day FX Gross PvP Settlement Service CLSNow
JPMorgan and Goldman Sachs were the first banks to go live on CLSNow.
Wednesday, 31/07/2019 | 11:29 GMT
by
Celeste Skinner
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Execution
CLS Group Reveals Upbeat Metrics About FX Settlement Business
More than 90% of the growth came from the buy-side.
Monday, 18/03/2019 | 08:59 GMT
by
Aziz Abdel-Qader
Execution
HSBC Cuts Cost of Settling FX Payments with Blockchain
HSBC is using blockchain technology through its FX Everywhere system.
Thursday, 14/02/2019 | 13:23 GMT
by
Celeste Skinner
News
Kraken, Etana Custody & Seabury Complete 1st Crypto Purchase via MT4/5
The first physically settled cryptocurrency transaction was just executed via a third party settlement service
Thursday, 24/01/2019 | 02:57 GMT
by
Victor Golovtchenko
Exchanges
SGX Launches New Securities Settlement, Depository System
The new system has been in live operation since December 10, 2018.
Wednesday, 19/12/2018 | 13:37 GMT
by
Celeste Skinner
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News
Gazprombank to Launch Crypto Trading Service in Mid-2019
The Russian bank's Swiss division is working with Avaloq and Metaco to provide crypto asset services to its customers.
Thursday, 06/12/2018 | 12:12 GMT
by
David Kimberley
Regulation
FCA: New Settlement Internalization Reporting Obligations
From July 2019, firms within the United Kingdom will be obliged to report settlement internalisation to the BoE.
Thursday, 22/11/2018 | 11:15 GMT
by
Celeste Skinner
News
Airfox Ordered to Pay Back Investors of 2017 ICO
Also hit was Paragon, the under-performing Cannabis token.
Sunday, 18/11/2018 | 11:26 GMT
by
Simon Golstein
Exchanges
ASX Still Believes in Blockchain Technology, but Delays Launch to Q2 2021
ASX reaffirmed that it remains committed to a single cutover weekend from its core CHESS system.
Tuesday, 04/09/2018 | 07:02 GMT
by
Celeste Skinner
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Technology
CLS Group Launches PVP Settlement Service for Cleared FX Derivatives
CLSClearedFX will be open to multiple counterparties with LCH the first to go live with the service.
Tuesday, 10/07/2018 | 20:03 GMT
by
Aziz Abdel-Qader
Institutional FX
CLS Reports Minor Increase in Daily Trading Volumes for May
Growth was driven by an increase in average daily FX spot trading
Tuesday, 19/06/2018 | 13:03 GMT
by
David Kimberley
Regulation
RBS Reaches $4.9 Billion Settlement with US DOJ
The deal with the US government means the UK government can start selling off its stake in the bank
Thursday, 10/05/2018 | 08:57 GMT
by
David Kimberley
Technology
CLS Group Sees Decline in YoY Profits for 2017
The FX settlement services provider did see increased average daily trading value
Wednesday, 09/05/2018 | 11:04 GMT
by
David Kimberley
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Regulation
Barclays Finalizes Mortgage Securities Probe with $2 Billion Settlement
The final settlement is lower than the $5 billion that the DOJ asked Barclays to pay earlier in negotiations.
Thursday, 29/03/2018 | 19:31 GMT
by
Aziz Abdel-Qader
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