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Showing 1 - 10 of 84 results for "OTC"

ASIC cancels AFSL of XTrade

ELIZA BAVIN  |  THURSDAY, 6 JUN 2024
... and Investments Commission (ASIC) has cancelled the Australian financial services licence (AFSL) of retail over-the-counter (OTC) derivatives issuer XTrade. XTrade offered clients opportunities to trade in contracts for difference (CFDs) and foreign ...

Court approves wind up of Prospero Markets

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
... regulator. ASIC has been investigating Prospero Markets for non-compliance with its AFSL conditions and obligations as an OTC derivatives issuer. The regulator said it has been contacted by Prospero Markets clients who are concerned about the return ...

ASIC takes further action on Prospero

KARREN VERGARA  |  MONDAY, 4 MAR 2024
... one of Australia's biggest-ever money-laundering operations. Former officers and responsible managers of over-the-counter (OTC) derivatives issuer Prospero are embroiled in Australian Federal Police's investigation into seven syndicate members who allegedly ...

ASIC cracks down on Prospero for reporting failures

CHLOE WALKER  |  WEDNESDAY, 10 JAN 2024
The corporate regulator recently suspended the AFSL of Melbourne-based over-the-counter (OTC) derivatives issuer Prospero Markets (Prospero). The penalty comes after the Forex and CFD trading platform, which services mainly Chinese-speaking clients ...

More than $17m paid in CFD-related remediation

JAMIE WILLIAMSON  |  THURSDAY, 9 NOV 2023
... More than $17.4 million has been made in compensation payments to retail clients affected by legal breaches by eight retail OTC derivative issuers, $13 million of which was paid by Binance alone. ASIC said the payments have been made to more than 2000 ...

BNP Paribas wins UniSuper mandate

CHLOE WALKER  |  TUESDAY, 26 SEP 2023
... its initial margin rules obligations, which require financial institutions to post collateral to back up their non-cleared OTC derivatives trades in order to mitigate counterparty risk. The mandate compliments the existing relationship between UniSuper ...

ASIC cracks down on CFDs, OTC derivatives

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
... and design and distribution obligations (DDO). The newly published Report 770 Design and distribution obligations: Retail OTC derivatives found that most issuers produce deficient TMDs and fail to meet DDO. Based on its findings, ASIC warned that it ...

Australian Bond Exchange, ANZ pilot settlement platform

CASSANDRA BALDINI  |  TUESDAY, 2 AUG 2022
... The pilot program will enable ABE to test its newly built trading system that automates multiple parts of over the counter (OTC) transaction process. Its objective is to link the transaction system with the NPP which reduces the settlement time of bond ...

OTC derivatives provider loses licence, executives banned

CASSANDRA BALDINI  |  THURSDAY, 14 JUL 2022
Over-the-counter derivatives provider Sirius Financial Markets Pty Ltd has surrendered its AFSL and its former executives Jonathan Schneider and Oskar Pecyna have both been banned for eight years. ASIC reported that Sirius Financial, trading as Trade360 ...

Cboe to debut FLEX micro options product

ANDREW MCKEAN  |  WEDNESDAY, 22 JUN 2022
... contracts to allow for even greater precision for hedging a portfolio with smaller notional values. "Investors can now forego the OTC market and experience the efficiency, liquidity, transparency and trust that trading in the exchange environment pro ...
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