FxPro UK, the FCA-regulated arm of FxPro, has posted significantly higher financial results for the full year 2016. The company just filed its annual accounts with the UK Companies House, showing that trading volumes spiked higher last year. The total for 2016 is reported at $112 billion, materially higher than 2015’s $64 billion.

As a result, revenues increased 64 percent to £3.2 million ($4.4 million). The net income of the company was £1.07 million ($1.45 million), which is a touch lower than in 2015. The results are not indicative of the performance of the company on ... (read more)

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In an effort to ensure that it is ready for the new regulations that will be coming into effect as part of MiFID II, Deutsche Börse has partnered with SmartStream RDU, to use its reference data tools.

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The Deutsche Börse group has been bundling all of its compliance-related tools and solutions into a single platform called the Regulatory Reporting Hub. It is here that the SmartStream RDU will be used to deliver reference data from the Global Legal Entity Identifier Foundation (GLEIF), and data on market ... (read more)

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AICoin, an investment vehicle that works as a collective combining the power of artificial intelligence with the wisdom of the crowd, has ended its ICO subscription period, having successfully raised over $3 million.

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Gavin Smith, the CEO of First Global Credit, talked about the project with Finance Magnates before the start of the ICO:

He explained that the strategy combines two interrelated investment streams. The first stage will use the funds collected during the ICO to make short term trades in multiple ... (read more)

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According to a UK Companies House filling, ayondo Markets Limited, the FCA-regulated subsidiary of ayondo, posted increased revenues in 2016. The company’s turnover almost doubled year-on-year, from $9.9 million (£7.4 million) to $19.1 million (£14.2 million)

The UK subsidiary of ayondo also reported a net loss of $1,450,000 (£1,073,000) for 2016. The figure is nearly 25% lower than its 2015 losses of $1,950,000 (£1,443,000).

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According to the report, all major indicators saw improvement, with the ... (read more)

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GAIN, Saxo, eToro and Cobalt all appeared in last week’s top stories.

New York arrest

Lee Elbaz, former CEO of binary options technology provider Yukom, has been arrested in New York. This followed an FBI investigation into wire fraud and conspiracy to facilitate wire fraud.

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The firm provided technology to Eagle Option and Binary Book. The unlicensed companies targeted clients in the US.

“We are still in the early stages of the ... (read more)

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Last week was full of personnel shifts in the finance industry.

18.9

Stacy English

Stacy English, formerly head of the regulatory intelligence team at Thomson Reuters, has been appointed to the UK board of Corlytics. Corlytics offers regulation-based services, which should be much in demand now what with MiFID II approaching.

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John Byrne, CEO of Corlytics, said: “Stacey will be a key addition to our board.”

19.9

Charlie Steel

Charlie Steel, Global Head of Corporate Development at CMC Markets, is ... (read more)

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Merrill Lynch, Pierce, Fenner & Smith Inc today settled charges brought by the Commodity Futures Trading Commission (CFTC) related to the firm’s handling of the CME Group’s investigation into futures block trade execution and recordkeeping practices.

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The U.S. regulator said Friday it has ordered the broker-dealer affiliate of Bank of America to pay a $2.5 million civil penalty to settle allegations that it failed to properly supervise its employees which potentially allowed them to trade ahead of futures ... (read more)

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The U.S. Securities and Exchange Commission (SEC), the country’s top Wall Street regulator, came under fire for failing to respond adequately to a data breach of corporate announcements in 2016.

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To make matters worse, the latest reports suggested that hacking the documents filed by publicly traded companies may have been used for insider trading.

The SEC detected the breach in 2016, but didn’t learn until August that intruders could have used data to make illegals profit through improper trading.

The ... (read more)

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The U.S. Securities and Exchange Commission (SEC), the country’s top Wall Street regulator, came under fire for failing to respond adequately to a data breach of corporate announcements in 2016.

Register now to the London Summit 2017, Europe’s largest gathering of top-tier retail brokers and institutional FX investors

To make matters worse, the latest reports suggested that hacking the documents filed by publicly traded companies may have been used for insider trading.

The SEC detected the breach in 2016, but didn’t learn until August that intruders could have used data to make illegals profit through improper trading.

The ... (read more)

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The UK subsidiary of one of the leading social trading brands in the industry, eToto UK Limited is reporting more than triple the revenues in generated during the previous year. The company’s net income totaled £1.8 million (

$2.4 million). The company only represents a small portion of the global revenues of the social trading provider.

Administrative expenses also increased, marking a total of £1.7 million ($2.3 million), for a net profit of £106,000 ($143,000).

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Commenting to Finance Magnates, ... (read more)

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