Following the launch of the Solactive Euro IG Corporate Index tracking the performance of the EUR-denominated investment grade bond market, Solactive has released two new fixed-income benchmarks: the Solactive Euro HY Corporate Index and the Solactive USD High Yield Corporate Index.

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The new benchmarks are designed to provide a snapshot of non-investment grade bond markets denominated in EUR and USD respectively, and are a first for the German index provider whose benchmarks have until now focused on the investment grade space.

The launch of the ... (read more)

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Axoni, a provider of distributed ledger technology to the financial services industry, has announced the completion of an $18 million Series A financing round led by Wells Fargo and Euclid Opportunities, NEX’s fintech investment business, bringing Axoni’s total funding to date above $20 million.

The financing round also included participation from Goldman Sachs, JP Morgan, Thomson Reuters, Andreessen Horowitz, FinTech Collective, F-Prime Capital Partners and Digital Currency Group.

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Distributed Ledger Technology

Axoni has established itself in the financial services industry for its distributed ledger technology expertise through ... (read more)

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The British Columbia Securities Commission (BCSC), one of Canada’s thirteen provincial financial regulators, has added binary options broker Redwood Options to its Investor Caution List.

Redwood Options operates from the website www.redwoodoptions.com and is based in Norwich, England. It claims to be “today’s leading binary options broker” and offers a range of assets to trade, as well as education services. No mention of regulation is made on its website.

According to the BCSC website, the regulator has become aware that the firm “may be operating in or from BC.” The BCSC is an independent provincial government agency responsible for regulating the market in ... (read more)

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During the passing week the top news in the international online trading industry included mainly major financial institutions, but also one scammer with a lot of chutzpah.

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Divisa Capital

On Monday the news broke that institutional foreign exchange and CFDs liquidity provider Divisa Capital raised an additional $100 million to expand its business. The main investor in the company is a Saudi Arabian family office that provided $70 million.

Following the shocking announcement, Mushegh Tovmasyan, CEO of Divisa Capital, shared his insights in ... (read more)

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Monday, January 16

Tom Gillie, Société Générale

Société Générale appointed Tom Gillie as Head of FX Options and FX Spot Trading. He will be based out of London and joins the company at a time of extended expansion of the French bank’s foreign exchange team. Société Générale has hired several key sales and trading staff recently.

Trent Beacroft, FastMatch

Trent Beacroft joined FastMatch’s Fx team in Singapore as its Managing Director of Sales. Assuming his new position, Trent will manage and drive sales opportunities across hedge funds, banks, brokers and asset managers segments in Asia. He will be tasked with ... (read more)

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The latest HFR Global Hedge Fund Industry Report showed that over $18.7 billion was withdrawn from the hedge fund industry’s largest firms in the fourth quarter of 2016. Still, steady performance gains managed to offset the continued investor outflows as the global hedge fund capital increased in Q4 2016, surpassing the $3 trillion milestone for the first time.

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The HFR report showed that the previous record was in the second quarter of 2015, at a sum of $2.969 trillion.

In the fourth quarter of 2016, ... (read more)

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Newly created TP ICAP, the world’s largest interdealer broker, has onboarded Iain Plunkett to the role of Chief Operating Officer, succeeding Ken Pigaga, who decided not to take up the equivalent role when Tullett Prebon completed a deal for rival ICAP’s voice-broking and information business.

TP ICAP confirmed Plunkett will join in the second quarter 2017, according to a corporate statement on Friday.

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Creating the biggest interdealer brokerage in an industry, TP ICAP has become the parent company to four broking brands — ... (read more)

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Christopher Giancarlo, a Republican member of the Commodity Futures Trading Commission (CFTC), will serve as acting chairman of the U.S. commodities-market regulator. He succeeds Timothy Massad, who announced earlier this month that he will leave the agency on January 20, after nearly three years at the helm of the top U.S. derivatives watchdog.

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Since Timothy’s announcement, Commissioner Giancarlo, who is the sole Republican currently serving on the Commission, was a leading candidate to head the CFTC in the Trump administration, at least on an ... (read more)

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In yet another sign that bitcoin providers are eager to turn the digital currency into a proper investment vehicle, Grayscale Investments, a unit of Barry Silbert’s Digital Currency Group, today filed with the Securities and Exchange Commission to list its Bitcoin Investment Trust as an exchange-traded fund in a $500 million initial public offering.

According to a filed paperwork, the new ETF product will retain its existing name and will list on the New York Stock Exchange under the ticker symbol GBTC, subject to regulatory approval.

The move comes on the heels of the SEC’s decision to push back the date to ... (read more)

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The landmark merger between the London Stock Exchange Group (LSEG) and Deutsche Börse has once again drawn concern from European Union regulators who fear that rivals will be pushed out of the market given the scope of the newly merged entity.

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This week, EU regulators told Deutsche Börse and the LSEG Plc that the prospective deal could potentially eliminate rivals for clearing services, which would effectively suggest a monopoly on this type of service, according to a recent Bloomberg report. The latest concerns constitute a long ... (read more)

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