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Author Archives: Adil Siddiqui

Jewellery Firm Modern Settings Files Lawsuit against Global Banks for Metals Fixing

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The world’s largest banks are believed to be involved in manipulating the price of two key precious metals contracts. Modern Settings, a US-based jeweller has filed a lawsuit against global institutions for Platinum and Palladium fixing.
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FX Trader Gets Shunned at Bank of New York Mellon for Breach of Compliance Rules

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US custodian banking institute, Bank of New York Mellon, has let-go of a senior currency trader. Reports state that Jon Smailes has been sacked for breaching compliance rulings.

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Niall O’Riordan UBS Chief Currency Dealer under Investigation for FX Rigging Case

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Swiss authorities investigating UBS employees involved in the FX rates manipulation case have published the names of those in question. Media reports state that 11 peoples names were noted.
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Bursa Malaysia Adopts Rules That Simplify Its Registration Process for Dealers

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One of South East Asia’s fastest growing trading venues implements new rules that reduce the time it takes for brokers and dealers to register. The Bursa Malaysia will deploy Straight Through Processing for registrations.
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CFTC Pardons Family Offices from Registration as Commodity Trading Advisor

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Family offices in the UNited States will be exempt from registering as CTAs under a no-action relief letter issued by the US main financial watchdog for financial derivatives trading, the CFTC.
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US Authorities Sanction Banking Giant HSBC for Breaching Federal Securities Laws

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Global banking firm, HSBC settles $12.5 million fine with US securities watchdog for dealings with US clients. The bank’s Swiss Private Banking arm failed to register with the North American watchdog.
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Bombay Stock Exchange Selects Solarflare for Hi-Tech Trading Solution

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Indian financial trading venues continue to compete with developed markets as they undergo technological advancements, BSE deploys Solarflare technology and infrastructure for high-speed offerings.
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After Hours Trading Accounts for a Quarter of Hong Kong Exchange’s Total Trading Activity

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Traders in Hong Kong extended the number of trades carried out in the after-hours trading session. Data from the county’s main bourse showed that over twenty six percent of transactions took place during the session.
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Citi Dropped from ECB’s Forex Forum after Rigging Scandal

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The banking giant is no longer a member of the European Central Bank’s foreign exchange market contact group, a development which can be understood as yet another result of the manipulation rate conundrum.
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Etoro to Embrace Funding from Russian and Chinese Investors

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Israel’s energetic technology sector is expecting to make ways for new funding and investment from emerging market nations. Reports state that Etoro has lined up two-backers from China and Russia.
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