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Retail FX

Freedom Finance Pays €50K to CySEC over ‘Potential’ AML Non-Compliance

  • The firm operates the brands Freedom Finance, Freedom Broker and Freedom 24.
  • CySEC announced €100K settlement with BCS Cyprus on Wednesday.
Thursday, 13/07/2023 | 13:36 GMT by Solomon Oladipupo
Institutional FX

CySEC Reaches €100k Settlement with Institutional Broker BCS Cyprus

  • The regulator probed BCS's compliance with market abuse rules between 2019 and 2021.
  • CySEC has withdrawn at least five CIF licenses since the start of 2023.
Wednesday, 12/07/2023 | 18:07 GMT by Solomon Oladipupo
Retail FX

iS Prime and ThinkMarkets Settle Exclusivity Dispute on Court Trial Day

  • The dispute dates back to iS Prime's acquisition of ThinkMarkets' arm in 2017.
  • iS Prime said it demanded a retraction from ThinkMarkets.
Wednesday, 10/05/2023 | 19:32 GMT by Solomon Oladipupo
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
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