Following an investigation by the Insolvency Service, Stuart Carl Mudge has received a 12 year bankruptcy restriction for his involvement in operating a failed spread betting scheme dubbed “Churchgate Trading Syndicate” in 2012.

The London Summit 2017 is coming, get involved!


The investigation into Mr Mudge’s conduct commenced on the making of the bankruptcy order following a petition presented by the UK’s FCA.

The investigation uncovered that between June 2009 and February 2012, Mr Mudge solicited £8.5 million from investors for his unauthorised investment scheme. The complaint also charged Mudge with making several ... (read more)

Comments (0)   Add comment   Read more...

Singapore Exchange (SGX), the country’s paramount exchange operator, encompassing the previous three-month period at the exchange – the latest metrics incurred a slight decline relative to the year prior, largely impacted by volatility, per a group filing.

The London Summit 2017 is coming, get involved!

In terms of the group’s Q3 FY2017 net profit, SGX yielded a figure of $83.1 million, falling -5.8 percent on a quarter-over-quarter basis from $88.3 million in Q2 FY2017. By extension, looking at its 2016 counterpart, the group’s net profit also was lower when compared to $89.2 million, or 6.8 percent lower year-over-year. SGX’s operating ... (read more)

Comments (0)   Add comment   Read more...

As expected, Virtu Financial, Inc. (NASDAQ:VIRT) just announced that it has entered into a definitive agreement to acquire KCG Holdings, Inc. (NYSE:KCG). The move has been unanimously approved by the Board of Directors of each company. Virtu has agreed to acquire KCG in a cash transaction valued at $20.00 per KCG share, or a total of approximately $1.4 billion.

The London Summit 2017 is coming, get involved!

“KCG fits perfectly with Virtu’s strategic priorities to apply our market making and technological expertise to customer wholesale order flow and expand Virtu’s growing agency execution business by offering ... (read more)

Comments (0)   Add comment   Read more...

Bitcoin IRA, a service that offers cryptocurrency investing for American individual retirement accounts (IRAs), has announced the launch of Ethereum IRA, a self-directed IRA for the second-most valuable cryptocurrency by market cap.

The London Summit 2017 is coming, get involved!

Ethereum IRA is the second product launched by the company following its Bitcoin IRA, which has secured over $10,000,000 worth of real bitcoin in client custodial accounts since launching in June of 2016. Similar to its flagship product, American investors can hold real Ethereum in retirement accounts by choosing between traditional IRAs, Roth IRAs, 401(k)s, SEP ... (read more)

Comments (0)   Add comment   Read more...

The Singapore Exchange (SGX) has reviewed and ultimately adopted a composite of recommendations brought forth by the Securities Industry Working Group (IWG), following last month’s proposals that outlined key areas of improvement for the exchange, per an SGX statement.

The London Summit 2017 is coming, get involved!

The proposals initially outlined a total of six different areas, which were the culmination of an initiative launched back in September 2016 that sought to improve and foster the exchange’s operational prowess in Singapore’s securities market. As such, the areas the IWG touched on were considerations in the following:

Hong Kong’s financial watchdog, the Securities and Futures Commission (SFC), has banned a former staff of Bank of China from re-entering the industry for life after he was convicted of stealing an estimated

$40,000.

The London Summit 2017 is coming, get involved!

The SFC disciplinary action was taken against Daniel Chen Chi Lik who was previously sentenced by the Eastern Magistrates’ Court to a two-months jail term in October 2016. Daniel stolen the money from a teller cash box assigned to him when he was manager at a branch of Bank of China ... (read more)

Comments (0)   Add comment   Read more...

The push towards MiFID II in January 2018 continues and with it more venues have opted to pursue strategies and offerings that help their respective customers prepare for the passage of the legislation.

The London Summit 2017 is coming, get involved!

Bloomberg and Bats Europe have become the latest groups to embark on such a strategy, teaming up to provide Bloomberg customers with the ability to utilize their respective Approved Publication Arrangements (APA), meeting MiFID II reporting obligations.

Supply and Demand

The effort is part of an industry-wide development that will see groups of all size recalibrating parts of their ... (read more)

Comments (0)   Add comment   Read more...

Paris-based asset manager Metori Capital Management has selected QuantFACTORY from trading solutions provider QuantHouse to tap its trading strategies development framework to develop, back-test and execute trading models.

The London Summit 2017 is coming, get involved!

Metori will start operating by the end of Q2 2017, subject to regulatory approvals. The company is regulated in France by the Autorité des Marchés Financiers (AMF) and also registered with the US Commodity Futures Trading Commission (CFTC) and a member of the National Futures Association (NFA).

QuantFACTORY suite of products offers a complete set of tools for quantitative trading strategies development ... (read more)

Comments (0)   Add comment   Read more...

Asian investment giant, Nomura, has moved forward with a landmark fintech partnership in Indian, tapped Voyager that will help allow the group develop and ultimately harness a number of new technologies for its business and services suite.

The London Summit 2017 is coming, get involved!

Nomura is the latest venue to explore a relationship with fintechs, with many venues and more commonly banks pushing towards a more digitized and versatile product suite. The days of traditional banking mechanisms may not be long for this world and the deployment of technologies such as big data, machine learning, and other ... (read more)

Comments (0)   Add comment   Read more...