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Settlement
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Retail FX
After 6 Years Global Brokerage Settles for $6.5m in Class Action
2023-02-06T14:06:15.252+02:00
Global Brokerage's case against its former investors began in 2017.
After six years, the brokerage decided to settle for 37% of the potential damage suffered by traders.
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Institutional FX
FINRA Slams $165k Fine on Instinet for Data Inaccuracy and Poor Supervision
2022-12-12T22:09:12.094+02:00
Instinet published 54 inaccurate monthly reports between 2015 and 2019.
The broker also under-reported about 5% of the total covered orders during the period.
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Institutional FX
Credit Suisse Agrees to Pay $234m Settlement in France
2022-10-24T12:30:01.026+02:00
Swiss banking giant settles court case with the French prosecutors.
In October, the institution approved settlements worth more than $700 million.
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Institutional FX
Credit Suisse to Pay $495m Settlement Related to 2008 Financial Crisis
2022-10-17T11:34:46.829+02:00
Settlement is related to the 'Residential Mortgage Backed Securities' part of the business.
Credit Suisse, in the past, paid a settlement that was ten times higher for the same misconduct.
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Damian Chmiel
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Brokers
CySEC Settles with Royal Forex for €270K over ‘Possible Violations’
2020-10-06T14:49:31.000+02:00
The regulator did an on-site investigation of the brokerage in March 2019.
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Institutional FX
Koine Secures In-Principal Approval In the UAE
2020-05-18T11:15:00.000+02:00
The approval provides custody in relation to virtual assets in the Abu Dhabi Global Market
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Finance Magnates Staff
Execution
CLS Adds Metrobank as Third-Party Participant to CLSSettlement
2020-02-17T12:10:45.000+02:00
Metrobank is the first Philippine bank to be added to the settlement service.
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Celeste Skinner
Execution
R3, Fnality & Finteum Join Forces to Improve FX Inefficiencies
2019-09-18T14:27:55.000+02:00
The partnership will focus on intraday forex swaps between large institutions.
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Celeste Skinner
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Execution
CLS Adds First Chinese Third-Party Bank to CLSSettlement
2019-08-06T10:07:20.000+02:00
The addition of CNCBI follows a larger trend of increased awareness of FX settlement risks.
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Celeste Skinner
Execution
CLS Launches Same-Day FX Gross PvP Settlement Service CLSNow
2019-07-31T13:29:24.000+02:00
JPMorgan and Goldman Sachs were the first banks to go live on CLSNow.
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Celeste Skinner
Execution
CLS Group Reveals Upbeat Metrics About FX Settlement Business
2019-03-18T10:59:41.000+02:00
More than 90% of the growth came from the buy-side.
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Aziz Abdel-Qader
Execution
HSBC Cuts Cost of Settling FX Payments with Blockchain
2019-02-14T15:23:25.000+02:00
HSBC is using blockchain technology through its FX Everywhere system.
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Celeste Skinner
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News
Kraken, Etana Custody & Seabury Complete 1st Crypto Purchase via MT4/5
2019-01-24T04:57:16.000+02:00
The first physically settled cryptocurrency transaction was just executed via a third party settlement service
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Exchanges
SGX Launches New Securities Settlement, Depository System
2018-12-19T15:37:48.000+02:00
The new system has been in live operation since December 10, 2018.
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Celeste Skinner
News
Gazprombank to Launch Crypto Trading Service in Mid-2019
2018-12-06T14:12:16.000+02:00
The Russian bank's Swiss division is working with Avaloq and Metaco to provide crypto asset services to its customers.
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David Kimberley
Regulation
FCA: New Settlement Internalization Reporting Obligations
2018-11-22T13:15:56.000+02:00
From July 2019, firms within the United Kingdom will be obliged to report settlement internalisation to the BoE.
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News
Airfox Ordered to Pay Back Investors of 2017 ICO
2018-11-18T13:26:23.000+02:00
Also hit was Paragon, the under-performing Cannabis token.
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Simon Golstein
Exchanges
ASX Still Believes in Blockchain Technology, but Delays Launch to Q2 2021
2018-09-04T09:02:10.000+02:00
ASX reaffirmed that it remains committed to a single cutover weekend from its core CHESS system.
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Technology
CLS Group Launches PVP Settlement Service for Cleared FX Derivatives
2018-07-10T22:03:48.000+02:00
CLSClearedFX will be open to multiple counterparties with LCH the first to go live with the service.
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Institutional FX
CLS Reports Minor Increase in Daily Trading Volumes for May
2018-06-19T15:03:20.000+02:00
Growth was driven by an increase in average daily FX spot trading
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David Kimberley
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Regulation
RBS Reaches $4.9 Billion Settlement with US DOJ
2018-05-10T10:57:56.000+02:00
The deal with the US government means the UK government can start selling off its stake in the bank
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David Kimberley
Technology
CLS Group Sees Decline in YoY Profits for 2017
2018-05-09T13:04:31.000+02:00
The FX settlement services provider did see increased average daily trading value
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David Kimberley
Regulation
Barclays Finalizes Mortgage Securities Probe with $2 Billion Settlement
2018-03-29T21:31:02.000+02:00
The final settlement is lower than the $5 billion that the DOJ asked Barclays to pay earlier in negotiations.
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Aziz Abdel-Qader
News
DLT for Securities Settlements Feasible but Complex BoJ & ECB Conclude
2018-03-27T19:26:03.000+02:00
Distributed ledger technology offers new possibilities but its rigid design structure brings its own set of problems
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Arnab Shome
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Execution
CLS Group Sees FX Volumes Surge in January as Markets Awaken
2018-02-15T11:01:22.000+02:00
Markets moved past a recent lull to kick off 2018 on a strong note
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Jeff Patterson
See more
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