Monday, April 2, 2012

CFTC puts an end to NADEX’s political binaries

CFTC puts an end to NADEX’s political binaries


CFTC puts an end to NADEX’s political binaries

Posted: 02 Apr 2012 02:37 PM PDT

As if this wasn’t a fact already – CFTC just officially announced what we already knew: it won’t allow NADEX to issue political binaries citing their gaming nature.

CFTC Issues Order Prohibiting North American Derivatives Exchange's Political Event Derivatives Contracts

Washington, DC – The Commodity … [visit site to read more]

RBC charged by CFTC with Multi-Hundred Million Dollar Wash Sale Scheme

Posted: 02 Apr 2012 01:51 PM PDT

CFTC also charges that bank concealed material information from, and made material false statements to, a futures exchange

In the complaint:

From at least June 2007 to May 2010, Defendant Royal Bank of Canada (“RBC”) conducted a wash trading scheme of massive proportion by unlawfully trading hundreds of millions of dollars’ worth of narrow based stock index futures (“NBI”) and single stock futures (“SSF”) contracts with two of its subsidiaries. RBC and the two subsidiaries pre-ananged the … [visit site to read more]

Flextrade signs up Thailand’s Phatra Securities

Posted: 02 Apr 2012 08:36 AM PDT

Technology giant FlexTrade Systems, a global leader in broker-neutral, multi-asset algorithmic trading systems, today announced that Phatra Securities, a leading securities firm in Thailand, has deployed FlexTRADER, the award-winning EMS world-renowned for its combined high performance and multi-asset trading capabilities, and Mottai, FlexTrade’s advanced, web-based broker trading solution specifically enhanced for the ASEAN region.

“We were looking for a state-of-the-art … [visit site to read more]

Myanmar starts new FX system

Posted: 02 Apr 2012 08:19 AM PDT

The troubled Asian state of Myanmar has announced currency reforms as it sets itself for international and domestic trade.

The new government (1 year old) has been keen to implement new reforms in the country, the new system will be under a managed float currency.

The ex-British colony was under military rule for the last 15 years and has hit a major downfall in its economy and international trade. Myanmar is rich in natural resources and has a sizeable amount of … [visit site to read more]

FXAll taps former NYSE VP and CIO Steve Rubinow

Posted: 02 Apr 2012 05:17 AM PDT

FXAll only recently completed its IPO and announced a very successful 2011 year. Now it cashes in on its success and makes a key hiring:

NEW YORK, NY, April 2, 2012 – FX Alliance Inc. (“FXall”) (NYSE: FX – News), the world’s leading electronic foreign exchange platform, … [visit site to read more]

Phillips Capital enters Turkish and Indian markets

Posted: 02 Apr 2012 03:14 AM PDT

Leading Asian derivatives broker Phillip Capital has ended the first quarter of 2012 with the acquisition of MF Global India and the purchase of Istanbul based HAK MENKUL KIYMETLER A.Ş.

Phillips Securities is Singapore’s largest derivatives broker with operations across Asia. The move into India and Turkey is very strategic in relation to the groups objectives of expanding their global foot print.

MF Global took over Refco’s India operations when Refco went under … [visit site to read more]

Phillip Securities offers Malaysian and Chinese equity Indices

Posted: 02 Apr 2012 02:44 AM PDT

Singapore’s leading financial services broker dealer Phillip Securities has expanded its indices list by including two global contracts: the FBM KLCI MYR10 CFD and the FTSE China A50 Index USD1 CFD.

The indices are offered as CFD’s and are traded on Phillips online trading platform.
Singapore continues to position itself as the financial market place for Far east and South East Asian financial markets.

The two indices provide traders access to the thirty most liquid … [visit site to read more]

Traiana Announces Certification with ICE for OTC FX Clearing

Posted: 02 Apr 2012 01:05 AM PDT

Traiana is doing an amazing job at getting all the important banks, brokers and exchanges on board for its post trading services. Today is ICE’s turn to become connected to Traiana’s Harmony network that will allow all connected parties to clear trades with ICE and vice versa.

New York/London, … [visit site to read more]

Tradeo launches an exciting forex social network

Posted: 02 Apr 2012 12:30 AM PDT

Marketsbook rebrands as Tradeo – launches a new exciting forex social network. I’ve had the chance to interview Jonathan Adest, Tradeo’s CEO:

How is your product different from all others?

The most important point to remember about Tradeo is that we’re not a broker and never will be. We provide an … [visit site to read more]

Reuters extends non-commonwealth reach with on-shore Thai Baht

Posted: 01 Apr 2012 11:40 PM PDT

The worlds premier non US denominated FX execution house is to offer Thailand’s currency for onshore trading. The forward contract will be available to local financial institutions to draw up liquidity on the Asian Tiger via the popular Thomson Reuters matching platform.

Reuters along with EBS have been the two dominant venues for the dealer to dealer market. EBS is … [visit site to read more]

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