Month: July 2014

UK SFO Launches Criminal Probe Into FX Fraud Claims

The director of the UK’s Serious Fraud Office (SFO) has opened a criminal investigation into allegations of fraudulent conduct in the foreign exchange market, adding yet another layer to the ongoing global regulatory probe. David Green QC, the SFO’s director, will be heading up the investigation under the superintendence of the UK’s Attorney General, using […]

O’Malia Departs CFTC to Join ISDA as CEO

Scott O’Malia is leaving the Commodity Futures Trading Commission (CFTC) to become CEO of the International Swaps and Derivatives Association (ISDA). He sent a letter to US President Barack Obama on Monday announcing his resignation from the Commission, effective 8 August. In the letter, he says that while he has been honoured to work for […]

Integral Settles With EBS’s Tolat for Company Stock; Will Appeal on Other Counts

Integral Development Corp has settled a portion of its claims against its former co-founder and chief technology officer Viral Tolat that relate to his holding of company stocks, Profit & Loss understands. The latest action follows the US District Court’s ruling in February denying Integral’s multiple claims against Tolat, which were lodged in 2013 after […]

Phizackerley to Fill Smith’s Shoes at Tullett

Interdealer broker Tullett Prebon has appointed John Phizackerley, a former executive at Nomura, as an executive director and CEO, with effect from 1 September. Further to the announcement on 3 June, Terry Smith will stand down after eight years at the helm on 31 August. He plans to focus on his asset management business Fundsmith. […]

Traiana Extends Kill Switches to SDPs

Traiana has extended the scope of its CreditLink service to include a kill switch capability for single dealer platforms in FX trading. The kill switches offered by Traiana are designed to work in harmony with the existing limit monitoring capabilities of CreditLink in order to help eliminate the risk for prime brokers (PBs) of over-allocating […]

Tech Corner

Oanda has launched two new technical analysis tools for its fxTrade clients, developed in partnership with Autochartist. The first of the new features, called “correlating signals”, allows investors to receive e-mail which flag trading opportunities when support or resistance levels coincide with chart pattern projections. The second addition is Autochartist’s “our favourites” which provides users […]

Around the World Rebrands and Launches Website Online retail FX broker has launched a new website and mobile product in a bid to better facilitate trading. The launch and rebrand from UFXMarkets also introduces improved features including an increase in the number of available payment methods, additional customer support, and upgraded technology as well as added […]

On the Move

Babic to Join Goldman Sachs Michael Babic is due to join Goldman Sachs as a senior e-FX salesperson. Goldman Sachs declined to comment on the new hire, but Profit & Loss understands that Babic will start in his new positions in late August. The bank also declined to comment on who he will be reporting […]

Gain Capital Buys New Patent and Software Assets

Gain Capital acquired patent and software assets from Valaquenta and Forexster via its subsidiary GTX Bermuda on 10 July, a SEC filing shows. The company paid $12.4 million to Valaquenta Intellectual Properties for a patent granted in 2003. To enable it to acquire Forexster, Gain issued a total of 861,935 in common shares. Under the […]