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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

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

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

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

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

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

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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