Brokers News Stocks 

The high-profile trader who slammed ex-employer ITG with a lawsuit is gearing up to launch a firm of his own

“Paulo Whitaker/Reuters Hitesh Mittal, the former hedge fund trading head who recently sued broker ITG, is looking to make a big comeback with a new trading technology company he’s been working on for the past year” writes Frank Chaparro for businessinsider.com. Typically, when a money manger is looking to get a trade done they go to a broker.Then, that broker uses its execution algorithms to figure out how that trade will get best executed. Source: businessinsider.com Share This:

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Brokers Futures News 

CFTC Fines Minneapolis Futures Broker $100,000 for Fraudulent Misconduct

“The Commodity Futures Trading Commission (CFTC) announced on Friday that it has charged futures broker, Christian Robert Mayer with engaging in a fraudulent trading scheme” reports financemagnates.com. When the brokers do not—but instead defraud their own customers as respondent did here—the Commission will vigorously pursue that misconduct.”.  Source: financemagnates.com Share This:

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Brokers News 

Non-Zero’s CEO Hadi Kabalan on How to Change the Brokerage Industry

“We see the transformation of the industry very much, which is ongoing, and we feel that by becoming Non-Zero adopting brokers, companies can differentiate” reports financemagnates.com. We will gradually open up the network to other financial industry participants in the future.We are transmitting value at a fraction of the cost used in the traditional financial industry.Eventually we think that the ecosystem has the potential to get adopted by financial institutions beyond the retail brokerage industry. Source: financemagnates.com Share This:

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Brokers News 

Massachusetts regulator criticizes proposed U.S. brokerage rule

“The ICI also praised the SEC’s best interest standard, but said, “The SEC should clarify when and how a broker-dealer must address conflicts of interest.”” writes Midwest Communications Inc for 95kqds.com. The SEC’s rule would require brokers to act in the best interest of customers at the time a recommendation is made, and to provide greater disclosure about conflicts of interest. Source: 95kqds.com Share This:

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Brokers News 

Leverage in retail FX: The banks pulled it down a year ago, so what’s new?

“FX hedge funds are investment firms that manage capital on behalf of high net worth individuals and institutional investors” reports financefeeds.com. FX hedge funds trade frequently in financial markets and are therefore important for secondary market liquidity and price discovery.Hedge funds obtain financial leverage from their prime brokers in the form of securities lending, margin loans, repo and derivatives agreements.For example, in the summer of 2017, Deutsche Bank’s prime finance division began plans to reduce its leverage exposure by a quarter, roughly €50 billion (£43 billion).They can invest using complex strategies…

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Brokers News Stocks 

Tesla shares spike, dealing short-sellers a $1.7B loss

“Short-sellers aim to profit by selling borrowed shares, hoping to buy them back later at a lower price” writes Min Read for reuters.com. NEW YORK (Reuters) – Tesla Inc (TSLA.O) shares soared 16 percent on Thursday, a day after the electric car maker’s better-than-expected quarterly report, and financial analytics firm S3 Partners said short-sellers were slammed with $1.7 billion in paper losses on the day.A sharp rally in the electric car maker’s shares since early April has hurt short-sellers. Source: reuters.com Share This:

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Brokers News 

Non-Zero Unveils a Brokerage Industry Transformation Product

“An innovative company called Non-Zero is about to pioneer a drastic change in the business model of the brokerage industry” reports financemagnates.com. Meanwhile, the brokerage industry just posted a fantastic first half of 2018 in real growth terms.The innovative approach of Non-Zero is set to change the business model of the retail brokerage industry.Non-Zero’s ambition is to build a new future for the brokerage industry, but the impact will also change the past.A chance for the brokerage industry to come out stronger after the recent regulatory crackdown is now on…

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