The
Financial Industry Regulatory Authority (FINRA) has updated its bylaws to
exempt proprietary trading firms from the Trading Activity Fee (TAF) for
transactions carried out on an exchange where the firm is a member.
This change aligns
with amendments to Rule 15b9-1 of the Securities Exchange Act of 1934, which
narrows the exemption from FINRA membership for proprietary trading firms. The
TAF amendment will take effect on 6 November 2023, the same day the Rule 15b9-1
Amendments become effective.
KuCoin Launches Upgraded
Futures Trading Platform
KuCoin, a
popular crypto exchange, has introduced Futures 2.0, an enhanced futures
trading platform. The new platform offers improved pricing infrastructure,
trial funds for new users, and an advanced API rate limit algorithm. A campaign
to celebrate the launch is planned for November.
The
platform aims to provide a more stable and efficient trading experience,
especially for professional traders and institutions.
Validus Appoints Andrew
Spence as Senior Advisor
Validus
Risk Management has appointed Andrew Spence as a senior advisor focusing on
pension plans and asset managers. Spence brings three decades of experience in
economics, investment strategy, and risk management.
He has
previously held senior roles at Ontario Teachers’ Pension Plan and has been an
advisor to HM Treasury and the Bank of Canada. His appointment comes as Validus
seeks to expand its services in the pension and asset management sectors.
MAS Issues Prohibition
Orders for Unlawful Sub-Agency Activities
The
Monetary Authority of Singapore (MAS) has banned five individuals from engaging
in illegal sub-agency activities related to financial advisory services. The
prohibition orders range from 3 to 5 years and restrict these individuals from
providing any financial advisory service or participating in the management of
any financial advisory firm.
The orders
follow a MAS investigation that found deceptive practices, including
unauthorized sales of insurance policies.
Marathon Digital Holdings
Diversifies Bitcoin Custody
Marathon
Digital Holdings, a leader in the Bitcoin ecosystem, has added a new
enterprise-grade custodian to diversify its Bitcoin treasury. The company holds
13,726 bitcoins as of September 2023 and has been producing over 1,000 bitcoins
per month. The new custodian is part of Marathon’s broader treasury management
strategy to diversify its Bitcoin holdings across multiple providers.
“Diversification
is a core component of our strategy that applies not just to our operations but
to our treasury management as well,” said Salman Khan, Marathon’s Chief
Financial Officer.
London Stock Exchange
Group Announces Q3 2023 Results
Reuters
The London
Stock Exchange Group plc (LSEG) has released its trading update for the third
quarter of 2023, showcasing a continuation of its transformative journey. CEO
David Schwimmer expressed satisfaction with the group’s performance,
highlighting strong growth across various sectors.
Key
takeaways from the Q3 2023 report include a total income growth of 8.0%,
surpassing the expected year-end target. The Data & Analytics sector grew
by 7.2%, Capital Markets by 6.2%, and Post Trade witnessed a substantial growth
of 17.0%. The Organic Annual Subscription Value (ASV) also saw an increase of 7.1%.
All guidance for 2023, including EBITDA margin and capital expenditure, remains
unchanged.
Eurex Expands Crypto
Derivatives Suite
Eurex, the
first European exchange to offer Bitcoin index futures, is expanding its crypto
derivatives offerings with the launch of Options on FTSE Bitcoin Index Futures.
The new product aims to provide a secure and regulated marketplace for trading
and risk management of digital assets. The launch is set for 23 October, 2023,
and has garnered interest from institutional investors.
“The right
derivatives strategy starts with the right index, and our digital asset indices
apply the same rigorous policy and governance framework used across our equity
and fixed income products,” Shawn Creighton, the Director of Index Derivatives
Solutions at FTSE Russell, an LSEG business, commented.
Joint Operation Against
Corporate Fraud in Hong Kong
The
Securities and Futures Commission (SFC), the Independent Commission Against
Corruption (ICAC), and the Accounting and Financial Reporting Council (AFRC)
have conducted a joint operation against two Hong Kong-listed companies
suspected of falsifying corporate transactions.
The
operation resulted in the arrest of three persons, including an executive director,
and revealed overstatements in revenue and assets that could lead to false or
misleading information in financial reports.
Mondu Receives FCA
Approval for UK Launch
Berlin-based
B2B buy now, pay later startup Mondu has received approval from the Financial
Conduct Authority (FCA) for its UK launch. The company will begin working with
16 British clients immediately, offering services like MonduOnline B2B BNPL for
e-commerce checkout and MonduSell for multichannel sales. The UK launch
coincides with Mondu’s expansion into the French market.
“We are already primed to launch with
a range of businesses across the UK,” said Roger De’Ath, Managing
Director at Mondu.
The
Financial Industry Regulatory Authority (FINRA) has updated its bylaws to
exempt proprietary trading firms from the Trading Activity Fee (TAF) for
transactions carried out on an exchange where the firm is a member.
This change aligns
with amendments to Rule 15b9-1 of the Securities Exchange Act of 1934, which
narrows the exemption from FINRA membership for proprietary trading firms. The
TAF amendment will take effect on 6 November 2023, the same day the Rule 15b9-1
Amendments become effective.
KuCoin Launches Upgraded
Futures Trading Platform
KuCoin, a
popular crypto exchange, has introduced Futures 2.0, an enhanced futures
trading platform. The new platform offers improved pricing infrastructure,
trial funds for new users, and an advanced API rate limit algorithm. A campaign
to celebrate the launch is planned for November.
The
platform aims to provide a more stable and efficient trading experience,
especially for professional traders and institutions.
Validus Appoints Andrew
Spence as Senior Advisor
Validus
Risk Management has appointed Andrew Spence as a senior advisor focusing on
pension plans and asset managers. Spence brings three decades of experience in
economics, investment strategy, and risk management.
He has
previously held senior roles at Ontario Teachers’ Pension Plan and has been an
advisor to HM Treasury and the Bank of Canada. His appointment comes as Validus
seeks to expand its services in the pension and asset management sectors.
MAS Issues Prohibition
Orders for Unlawful Sub-Agency Activities
The
Monetary Authority of Singapore (MAS) has banned five individuals from engaging
in illegal sub-agency activities related to financial advisory services. The
prohibition orders range from 3 to 5 years and restrict these individuals from
providing any financial advisory service or participating in the management of
any financial advisory firm.
The orders
follow a MAS investigation that found deceptive practices, including
unauthorized sales of insurance policies.
Marathon Digital Holdings
Diversifies Bitcoin Custody
Marathon
Digital Holdings, a leader in the Bitcoin ecosystem, has added a new
enterprise-grade custodian to diversify its Bitcoin treasury. The company holds
13,726 bitcoins as of September 2023 and has been producing over 1,000 bitcoins
per month. The new custodian is part of Marathon’s broader treasury management
strategy to diversify its Bitcoin holdings across multiple providers.
“Diversification
is a core component of our strategy that applies not just to our operations but
to our treasury management as well,” said Salman Khan, Marathon’s Chief
Financial Officer.
London Stock Exchange
Group Announces Q3 2023 Results
Reuters
The London
Stock Exchange Group plc (LSEG) has released its trading update for the third
quarter of 2023, showcasing a continuation of its transformative journey. CEO
David Schwimmer expressed satisfaction with the group’s performance,
highlighting strong growth across various sectors.
Key
takeaways from the Q3 2023 report include a total income growth of 8.0%,
surpassing the expected year-end target. The Data & Analytics sector grew
by 7.2%, Capital Markets by 6.2%, and Post Trade witnessed a substantial growth
of 17.0%. The Organic Annual Subscription Value (ASV) also saw an increase of 7.1%.
All guidance for 2023, including EBITDA margin and capital expenditure, remains
unchanged.
Eurex Expands Crypto
Derivatives Suite
Eurex, the
first European exchange to offer Bitcoin index futures, is expanding its crypto
derivatives offerings with the launch of Options on FTSE Bitcoin Index Futures.
The new product aims to provide a secure and regulated marketplace for trading
and risk management of digital assets. The launch is set for 23 October, 2023,
and has garnered interest from institutional investors.
“The right
derivatives strategy starts with the right index, and our digital asset indices
apply the same rigorous policy and governance framework used across our equity
and fixed income products,” Shawn Creighton, the Director of Index Derivatives
Solutions at FTSE Russell, an LSEG business, commented.
Joint Operation Against
Corporate Fraud in Hong Kong
The
Securities and Futures Commission (SFC), the Independent Commission Against
Corruption (ICAC), and the Accounting and Financial Reporting Council (AFRC)
have conducted a joint operation against two Hong Kong-listed companies
suspected of falsifying corporate transactions.
The
operation resulted in the arrest of three persons, including an executive director,
and revealed overstatements in revenue and assets that could lead to false or
misleading information in financial reports.
Mondu Receives FCA
Approval for UK Launch
Berlin-based
B2B buy now, pay later startup Mondu has received approval from the Financial
Conduct Authority (FCA) for its UK launch. The company will begin working with
16 British clients immediately, offering services like MonduOnline B2B BNPL for
e-commerce checkout and MonduSell for multichannel sales. The UK launch
coincides with Mondu’s expansion into the French market.
“We are already primed to launch with
a range of businesses across the UK,” said Roger De’Ath, Managing
Director at Mondu.
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- Source: https://www.financemagnates.com//forex/news-nuggets-19-october-finras-prop-trading-exemption-kucoins-new-futures-platform/
