It’s a bold statement from a man who has proven again and again he is not afraid of rocking the boat, “We consider a full move to 24/7 spot FX trading a real possibility within the next five years”. So, is David Mercer, CEO of LMAX Group, making a bold statement or actually predicting what […]
LMAX Group has launched Weekend FX a service to allow clients to trade during those hours in which the FX market is closed, from 17:05 EST on Friday to 17:00 EST Sunday. The service will be available through LMAX Global, the group’s UK-regulated broker and will support cash-settled CFD (contracts for difference), which are non-fungible […]
The Australian Administrative Appeals Tribunal (AAT) has granted retail broker AxiCorp a stay on the local regulator, the Australian Securities and Investments Commission’s (ASIC) decision to suspend its licence for four months. ASIC issued the ban at the start of the year, at which time AxiCorp appealed the decision, and also asked for the proceedings […]
CFH Clearing is now offering trading in single stock CFDs for retail brokers and high net worth individuals. CFH Clearing, TradeTech Group’s liquidity provider and prime-of-prime, will allow the single stock CFDs to be traded via all existing trading platforms and distribution channels, including MT4, MT5 and FIX API. The CFDs can also be fully […]
B2C2, an OTC cryptocurrency liquidity provider, has been authorised by the UK’s Financial Conduct Authority (FCA) to arrange and deal in Contracts for Difference (CFDs) with eligible counterparties and professional clients. The FCA authorisation will allow B2C2’s clients to gain exposure to cryptocurrency markets via the firm’s CFDs.Max Boonen, founder and CEO, says: “We are excited to have received authorisation from the FCA to introduce a cryptocurrency CFD product. Eligible counterparties and professional clients can now gain derivative exposure to the cryptocurrency markets, benefiting from the competitive pricing and liquidity they’re accustomed to receiving from B2C2, while avoiding the risks associated with crypto custody.”
The UK’s Financial Conduct Authority (FCA) has issued two consultation papers ahead of the imposition of rules to address what it terms “harm to retail consumers from the sale of certain complex derivative products”, specifically retail –orientated contracts for difference (CFDs) and binary options.
The proposed rules would apply to firms acting in or from the UK and ban the sale, marketing and distribution of binary options, as well as restrict the sale, marketing and distribution of CFDs and similar products to retail customers.
The Australian Securities and Investments Commission (ASIC) has called on participants in the retail OTC derivatives sector to improve their practices after recent ASIC activities showed their conduct “fell short of expectations”.
The products offered by retail OTC derivatives issuers in Australia include binary options, margin foreign exchange and contracts for difference.
ASIC says that a recent review of 57 retail derivative issuers identified a number of risks associated with the products offered to retail investors by OTC derivatives issuers.
Gain Capital has joined the growing ranks of retail FX brokers offering Bitcoin trading, with the launch of the functionality on its City Index platform, the company’s FCA regulated service in the UK.
Customers are able to trade the cryptocurrency as either a spread bet or a CFD (contract for difference) – Gain says that it has established liquidity relationships with multiple Bitcoin exchanges, which it uses to create a volume-weighted average price that it claims is “reliable and transparent”.
CFD broker CMC Markets has announced the completion of an integration with FlexTrade Systems to enable the wider dissemination of its proprietary CFD liquidity.
The firm says that while dissemination of foreign exchange liquidity is “a rapidly expanding market, as seen with the growth of so-called ‘prime-of-prime’ services”, few counterparties are currently offering anything similar when it comes to CFDs.
CMC Markets says that while its CFDs aren’t available as a default to all FlexTrade clients, those liquidity takers who are interested in trading the company’s 85 indices, commodities and treasuries CFDs can now request to have access.
Today we tip-toe into delicate (and to me largely unknown) territory. It remains to be seen whether or not Bitcoin will be a true phenomenon that changes the world – my instinct is still that it will inevitably be reigned in by “The Man” and become as regulated as fiat currencies – but whether or not it does revolutionise the global economy and indeed financial markets, I have a couple of concerns about how it is being treated by some brokers.