The UK Competition and Markets Authority (CMA) has opened a consultation on undertakings proposed by S&P Global Inc. (S&P) and IHS Markit Ltd. (IHSM) to address competition concerns over the anticipated acquisition by S&P of IHSM. On 19 October 2021, the CMA announced that it would refer the acquisition for an in-depth investigation unless S&P…
Read More “CMA invites comments on S&P / IHS Markit merger remedy” »
Electronic trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) has reported its financial results for the final quarter of 2021, with net revenues slightly higher than a year ago. Reported net revenues were $603 million for the quarter to end-December 2021 and $683 million as adjusted. For the year-ago quarter, reported net revenues were $599 million…
Read More “Interactive Brokers reports 11% Y/Y rise in commission revenue in Q4 2021” »
After something of a quiet period in Q4, M&A activity has picked up in earnest in the FX industry in 2022, with a number of transactions unveiled this past week involving Swissquote, United Fintech (its fourth deal in the past 14 months), NinjaTrader, and XGlobal. We also are beginning to see 2021 financial results start…
The United States Securities and Exchange Commission (SEC) plans to move for a default judgment against former Goldman Sachs’ compliance analyst Jose Luis Casero Sanchez. This becomes clear from a status report submitted by the regulator at the New York Southern District Court on January 14, 2022. The document, seen by FX News Group, reveals…
Read More “SEC to move for default against ex-Goldman analyst accused of insider trading” »
As the lawsuit brought by ex-Citi Forex trader Rohan Ramchandani against his former employer continues at the New York Southern District Court, the parties in the lawsuit are trying to put an end to discovery disagreements. This becomes clear from documents filed in the Court on January 14, 2022. The document, seen by FX News…
Read More “Citi, former head of FX trading desk try to resolve discovery disputes” »
The UK Financial Conduct Authority (FCA) announces that it has decided to make an order, pursuant to section 56 of the Act, prohibiting Paul Seakens from performing any function in relation to any regulated activity carried on by any authorised person, exempt person or exempt professional firm. Mr Seakens committed offences of converting criminal property…
Read More “FCA issues ban as to Opus Capital director Paul Seakens” »
Citigroup Inc (NYSE:C) has just posted its financial report for the final quarter of 2021. Citi reported Institutional Clients Group (ICG) revenues of $9.9 billion, up 4% from the same period in 2020, primarily driven by higher revenues in Investment Banking, the Private Bank and Securities Services, partially offset by a decline in Fixed Income…
Read More “Citi posts 11% Y/Y drop in Markets and Securities Services revenues in Q4 2021” »
Embattled offshore Retail FX broker Samtrade FX has posted an “FAQ” statement, updating the effective shutdown of the company by Singapore police and that country’s financial regulator MAS earlier this month. The police and regulator action included the arrest of three Samtrade FX management team members, which we believe includes the company’s controlling shareholder and…
Read More “Samtrade FX updates on trading and withdrawal freeze” »
The UK Treasury Committee has published correspondence on the increasing cost of card payment services for businesses in the UK. In response to a letter from the Committee Chair, the Payment Systems Regulator (PSR) outline that they have not seen evidence that the costs of operating payment services have increased for card issuers to warrant…
Read More “UK Treasury Committee examines increasing cost of card payments for businesses” »
S&P Dow Jones Indices announced today that it will remove Afterpay Limited (ASX:APT) from the S&P/ASX 200, as a result of the scheme of arrangement whereby the company will be acquired by Block, Inc (NYSE:SQ). S&P Dow Jones Indices will remove Afterpay Limited from the S&P/ASX 200 effective prior to the open of trading on…
