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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Brokers News 

“Regulation takes a very long time to set up”: Forex broker JAFX gets targeted by CFTC

“The United States Commodity Futures Trading Commission (CFTC) continues with its actions against unregistered Forex brokers targeting US clients” reports financefeeds.com. The CFTC Complaint against the broker says that, beginning in at least September 2016 and continuing to the present, JAFX has offered retail Forex services to customers in the United States.The application process involves a drop-down menu of countries from which JAFX accepts customers and the first name in the list is the United States.Less than a month after the CFTC secured a default order against Tallinex, the US…

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Brokers News 

Antelope Systems Launches CRM System for MetaTrader 5 Brokers

“Antelope Systems, a call center software developer, announced on Tuesday that it has launched a customer relationship management (CRM) system for MetaTrader 5 brokers” reports financemagnates.com. This interface aims to give brokers access to information that will allow them to maximize their return on investments. Source: financemagnates.com Share This:

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Brokers News 

Russian c-bank identifies 208 illegal Forex brokers in H1 2018

“The problem with illegal Forex brokers in Russia remains acute in the face of the existing Forex legislation” reports financefeeds.com. The list of these 208 entities includes foreign Forex brokers that illegally target Russian clients, as well as Russia-based companies which operate without the necessary FX dealer licenses, as required by the Russian law.The Central Bank of Russia has identified 208 illegal Forex brokers in the first half of 2018, according to Valery Lyakh, Head of the Bank of Russia’s Department for Countering Malpractice, quoted by Russian newspaper “Kommersant”. Source: financefeeds.com…

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Brokers News 

Boss of collapsed City broker plots move into takeaway industry 

“The former boss of Beaufort Securities has set up an Indian takeaway company just months after the broking firm he ran collapsed following an FBI sting” writes Jon Yeomans for telegraph.co.uk. City broker Beaufort Securities fell into administration in March following a dramatic sting operation involving the Mayfair art scene and a Pablo Picasso painting. Sources said he was close to signing a deal with a large restaurant firm and plans to officially launch the company in January. Source: telegraph.co.uk Share This:

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