Ontario Securities Commission (OSC), one of the thirteen provincial financial regulators in Canada, has added the binary options broker OptionRally to its list of companies not to do business with, according to a regulatory statement.

OptionRally is regulated in Cyprus and Belize. The firm has been involved in one of the bigger sponsorship deals in the industry with the company’s logo appearing on the Ferrari’s Formula 1 race cars. Finance Magnates reported about the broker earlier last week after it has laid off 20 employees from its English desk located in Israel, which leaves the broker with almost no ... (read more)

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Binary options made up 17 percent of the 106,800 enquiries to the FCA’s consumer contact centre between December 2015 through November 2016, according to the regulator’s most recent data on the UK’s investment products.

Enquiries about binary options products was the largest category of contact to the FCA’s centre in the last year. More specifically, consumers have been contacting the UK watchdog about several product types within the binaries category including shares (14%), Forex (13%) and bonds (10%). In addition, the regulatory status amounted to 55% of total inquires. Typically, consumers were checking to see if the firm is authorised and ... (read more)

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The Federal Reserve Board on Friday announced its approval of the applications under section 9 of the Federal Reserve Act by PlainsCapital Bank, Dallas, Texas, to establish branches at

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The Federal Reserve Board on Friday announced its approval of the application under section 3 of the Bank Holding Company Act of 1956 by F.N.B. Corporation, Pittsburgh, Pennsylvania, to

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Nordea Markets, a subsidiary of Swedish financial services group operating in Northern Europe, Nordea Bank AB, has promoted Petteri Pietilä to take on the role of its Chief Sales Manager. Based out from Helsinki, he will be focused on FX and FX options sales with an emphasis on EM currencies.

Petteri, who has more than nine years of sales and product management experience, was a mainstay at Nordea Markets for more than seven years. His career encompasses other roles within the company, most recently as Senior Sales Manage where he was focused on the same segments as well as large cap ... (read more)

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Chicago-based CME Group (NASDAQ: CME), one of the world’s paramount exchange operators, is preparing the launch of six FX monthly futures contracts scheduled for Monday, February 27, 2017. These contracts will be listed on Chicago Mercantile Exchange (CME) after already passed the regulatory review.

The new monthly FX futures will complement CME’s existing suite of EUR/GBP contracts, as well as five major currency pairs against the US dollar: AUD; GBP; CAD; EUR and JPY. It will provide the exchange’s customers with a product that caters to their financial risk management needs through offering access to the front months of the FX ... (read more)

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Standard Chartered has become the latest European lender to suffer from a dearth of profitability on an annual basis, with its 2016 missing the mark from street estimates, despite a dramatic reversal off of last year’s $1.52 billion pretax loss.

For 2016 however, the lender posted a pretax profit of $409 million, which despite being in positive territory did reflect a disappointment for investors and analysts who had been pricing in a larger figure.

On a boarder scale, the aggressive cost-cutting mechanisms and agenda Standard Chartered has executed could finally be starting to show some dividends. Over the past couple, the group ... (read more)

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Nomura Securities Co., Ltd., a subsidiary of Japanese investment giant Nomura Holdings, Inc., has inked a new agreement to become a Global Sponsor of the 2017 World Baseball Classic, according for a company statement.

The World Baseball Classic is an international baseball tournament sanctioned by the World Baseball Softball Confederation (WBSC) – its popularity has swelled in recent years as it looks to include the best talent in the world, whilst providing an arena for professional baseball players to compete against one another while representing their home country.

Mounting Interest

2017 will be the fourth consecutive years of the World Baseball Classic, which will ... (read more)

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The Foreign Exchange Professionals Association (FXPA) has held internal elections for its Board, culminating in the appointment of multiple new officers to serve on its Executive Committee, per an FXPA statement.

The FXPA is a Washington-based organization that collectively represents the shared interests of brokers and market participants in the FX industry. The multinational group, along with its growing membership composition, was initially formed with the aim of advocating the interests of the FX industry to key regulators and policymakers via education, research, and transparency.

New Board Takes Shape

Following the new round of elections, FXPA members re-elected Chip Lowry, Senior Managing Director ... (read more)

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The Royal Bank of Scotland Group (RBS) has posted its latest earnings today, which saw a growing net loss in 2016 – the latest picture exacerbated what had already been a downtrodden H1, prompting the lender to embark on an ambitious cost-cutting strategy over the next four years that’s estimated at nearly $2.5 billion.

The latest earnings release today underpins what many shareholders had feared – an inability to return to profitability after seeing its revenues dive by nearly -20.0 percent in H1 2016. 2016 was characterized also by a sizable reduction in its workforce, with the early part of ... (read more)

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