The Italian Banking Association (ABI) has shown its willingness to support a digital currency from the European Central Bank. The ABI has approved official guidelines for governing a Central Bank Digital Currency (CBDC). The Executive Committee of the ABI has agreed on ten fundamental criteria to issue the digital euro.
London Stock Exchange Group (LSEG) announced new appointments to the board of its wholly owned subsidiary London Stock Exchange plc. The exchange appointed capital markets veteran Michael Findlay as non-executive chair of the London Stock Exchange. LSEG also noted the appointments of Nikhil Rathi as CEO of the FCA and Denzil Jenkins as interim CEO of London Stock Exchange plc.
Virtu Financial, Inc. (NASDAQ: VIRT), a financial services and technology provider, announced the promotion of Akiko Imai to Global Head of New Sales. Imai will also oversee global sales efforts for POSIT Alert and report directly to Brad Johmann, Global Head of Posit Alert and Stephen Cavoli.
Refinitiv’s commitment for electronification of the Malaysian FX market strengthened with the approval of its electronic trading platform FXall by the Bank Negara Malaysia under the country’s new framework for electronic trading platforms (ETP). Refinitiv FXall will be offered under the approved money broker “Refinitiv Transaction Services Malaysia Sdn Bhd.”
The Australian Securities and Investment Commission announced its civil penalty proceeding Federal Court of Australia against Commonwealth Bank of Australia (CBA) and CBA’s subsidiary, Colonial First State Investments Limited (CFSIL) regarding alleged conflicted remuneration paid by CFSIL to CBA. ASIC claims that between 1 July 2013 and 30 June 2019 CFSIL paid $22 million in conflicted remuneration to CBA for the distribution of Essential Super, a superannuation product issued by CFSIL. CBA distributed the Essential Super product resulting in approximately 390,000 individuals becoming members of the Commonwealth Essential Super fund under the arrangements.
Online FX and CFDs broker Admiral Markets announced its plans to raise €10 million (about $11.3 million) in additional capital. The broker stated its intentions to issue subordinated bonds, however it also pointed out that no definite decision was taken yet.
Gold surged to levels not seen in eight years during the week, surpassing the recent May peak, to trade above $1,770 as people look to spread out their investments across multiple asset classes. The precious metal rose by 25% in the last year, to hit levels not seen since 2012 and the height of the Eurozone crisis. Gold climbed despite the rapid recovery in stock markets, which has seen them bounce back from March lows to leave them on track for their best quarter in a decade. The S&P 500 climbed back to 3,131 points overnight, leaving it less than 10% below its record high of 3,393 set in February.
The post Forex Weekly Look Back: Andrey Dashin launches Exinity Group, ActivTrades expects record revenues in H1 2020 appeared first on LeapRate.
,