News 

Canadian ADP report shows a drop of 5.7K jobs

“Update: the ADP NFP came out and it shows a drop of 5.7K jobs in Canada, worse than the official data” writes Yohay S Google for forexcrunch.com. The manufacturing sales measure was forecast to drop by 0.4% after rising by 1.6% in the previous month.ADP routinely publishes its jobs report for the US, two days before the official Non-Farm Payrolls report. Source: forexcrunch.com Share This:

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Markets News 

One of China’s hottest companies rebuffs criticism about transparency

“In this case, Ant Financial lends money to Alipay users and then packages those debts into asset-backed securities for sale to investors” writes Anthony Kwan for cnbc.com. Asset-backed securities are financial instruments that are backed by underlying loans and other receivables. According to news reports, Moody’s Investors Service previously said that companies like Ant Financial needed to be more transparent about how such asset-backed securities are created — including their criteria for lending to underlying borrowers.”The demand for these securities is very healthy and continuing to expand,” Douglas Feagin, senior…

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Crypto Markets News 

‘Market manipulation 101’: Wolf of Wall Street-style ‘pump and dump’ scams plague cryptocurrency markets

“Cryptocurrency exchanges and markets are unregulated in most parts of the world and so these activities are not illegal” writes Oscar Williams-grut for businessinsider.com. Despite similar warnings from other regulators, the total cryptocurrency market has ballooned to almost $200 billion this year.The NYDFS declined to comment on whether it was aware of pump and dump scams in the cryptocurrency market or whether it was investigating activity on Bittrex.Several securities lawyers BI spoke to argued that cryptocurrency exchanges should be regulated in the same way.Mati Greenspan, a senior market analyst at…

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Markets News 

WisdomTree to buy part of ETF Securities, in latest industry consolidation

“WisdomTree funds have seen about $1 billion in inflows thus far this year, while ETF Securities have seen a little more than $2 billion” writes Markets Reporter for marketwatch.com. ETF Securities currently has $23 billion in assets, good for 19th place and 0.52% market share.In a news release, WisdomTree WETF, -6.45%  said it would be buying the European exchange-traded commodity, currency and short-and-leveraged business of ETF Securities, products it said had about $17.6 billion in assets under management.WisdomTree Investments Inc. on Monday said it is buying parts of ETF Securities,…

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Markets News 

Beeks Financial Cloud’s anticipated market capitalisation on AIM admission is £24.5 million

“Beeks Financial Cloud is a niche cloud computing and connectivity provider for automated trading in Forex and Futures financial products” reports financefeeds.com. Beeks Financial Cloud has plans concerning LSE’s AIM market, as per an official filing submitted earlier today.The capital to be raised on admission is put at £7 million, whereas the anticipated market capitalisation on admission is £24.5 million.The admission of 49,000,000 Ordinary shares of £0.00125 each at an issue price of 50.0 pence per share is planned. Source: financefeeds.com Share This:

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News 

Virginia Court holds hearing on SEC action against FX & Beyond Corporation

“Mr Karroum and FX & Beyond Corporation are charged with securities fraud” reports financefeeds.com. The Defendants promised these investors that money they gave to FX & Beyond or to Mr Karroum directly would be used for Forex trading.According to the SEC, in 2012, 2013, and 2014, the Defendants solicited approximately $1.4 million from at least 10 US investors. Source: financefeeds.com Share This:

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AUD News 

China and Australia ink fintech deal to share information on new trends

“China and Australia’s regulators have agreed to partner up on financial technology (fintech), a move that will give them oversight on new trends in each other’s markets” writes Ryan Browne for cnbc.com. The Australian Securities and Investment Commission (ASIC) and China Securities Regulatory Commission (CSRC) said Monday that they would cooperate on the sharing of information related to emerging themes in the fintech sector.”Cooperation between regulators is essential to realize the benefits of the technological revolution,” Greg Medcraft, chairman of the ASIC, said in a statement Monday. Source: cnbc.com Share This:

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Crypto News 

Bitcoin soared above $6,900 despite strong regulatory warning from the Securities and Exchange Commission on ICOs

“Bitcoin blew past $6,900 Wednesday even after the Securities and Exchange Commission warned investors about celebrity endorsements for certain cryptocurrency-based fundraising efforts” writes Finanzen Net Gmbh for businessinsider.com. The upward march continued Wednesday evening despite a warning by the SEC about initial coin offerings, a red-hot fundraising method. The financial watchdog said ICOs can sometimes be considered securities — and as such are subject to strict laws and regulations.Here’s the agency (emphasis theirs): “Celebrities, from movie stars to professional athletes, can be found on TV, radio, and social media endorsing a…

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News 

GMO Click Securities to retire GMO-FX Dash mobile app

“GMO Click Securities, a part of GMO Internet Inc. (TYO:9449), has delivered a somewhat surprising announcement to its clients, as the company said it would stop supporting the GMO-FX Dash mobile app” reports financefeeds.com. Talking of mobile apps, let’s recall that GMO Click’s binary options mobile apps were affected by the latest changes in the policy of Apple’s App Store .The announcement by GMO Click Securities concerning its binary options mobile apps came along with one from YJFX, a subsidiary of Yahoo Japan Corporation (TYO:4689).That is why, GMO Click is…

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GMO-Z.com Securities Launches Full-Scale Operation in Thailand

“GMO-Z.com Securities (Thailand) Limited, a subsidiary of GMO Internet Inc. (TYO:9449), has officially launched its full-scale operations in Thailand, just three months after it secured the license for its online securities brokerage company” reports financemagnates.com. Z.Com securities is one of the 128 subsidiaries of GMO Internet Group, Japan.At this stage, GMO Click expects only minor effects on the company’s consolidated results, but the exact results will be disclosed in the future.Megumu Motohisa, CEO of Z.com Securities, announced that customers can open accounts with the company starting today. Source: financemagnates.com Share This:

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