Dukascopy today revealed that it had initiated the live trading of 3 additional soft commodities (cotton, coffee, and orange juice), which it had promised on 26 February 2019. The complete list of the soft commodities currently available to Dukascopy clients is: Cotton (COTTON.CMD/USX) Coffee (COFFEE.CMD/USX) Orange Juice (OJUICE.CMD/USX) Sugar (SUGAR.CMD/USD) Cocoa (COCOA.CMD/USD) The maximum leverage that Dukascopy Bank allows for the newly added commodities is 1:30. However, the European clients are limited to a maximum leverage of 1:10. Dukascopy is constantly increasing the number of instruments available for trading in line with client requests. Dukascopy also recently launched the Dukascoin website as well as the actual Dukascoin.
From March 1st to May 31st 2019, conditions for trading Indices will be very much improved. Within the framework of the promotion, spreads for trading DE30 are significantly reduced as well as the commission for all other Indices available for trading to RoboMarkets clients. For DE30 Index, spreads will be decreased from current values of 1.8 – 2.0 to 0.7 pips on MT4/5-based Pro-Standard accounts. On ECN-Pro and Prime accounts, this instrument will be available for trading with the spread of 0.5 pips. For all other Indices, the commission will be reduced during the period of the promotion. On ECN-Pro accounts, the commission for the trading volume of 1 million USD will be 5 USD instead of 50 USD; on Prime accounts – 4 USD instead of 35 USD.
The international broker has expanded its exchange trading offering. Traders can invest in securities of global corporations, such as Allianz, BMW, Bayer, Siemens, Heineken and Royal Dutch Shell. This addition to the previously available portfolio of US stocks, brings the total number of physical stocks available to JFD clients via MetaTrader 5. Furthermore, the broker is planning to significantly expand and diversify the investment portfolio by the end of the year. Mr Lars Gottwik, founder and CEO of JFD Brokers, comments: "Adding Dutch stocks to our product portfolio is part of our long-term vision to provide the most relevant trading and investing opportunities for our clients. Together with German stocks, which we started offering in 2018, JFD's customized MetaTrader 5+ solution is shaping up as a unique combination of top-notch technology and popular investment instruments." Founded in 2011, JFD Brokers is one of the fastest growing brokerage companies, with presence in more than 60 countries across 5 continents. This global presence was achieved in less than five years. The company operates in accordance with the MiFID requirements, is regulated by CySEC and is a member of the Investor Compensation Fund (ICF).
eToro, the global, multi-asset, investment platform with over ten million registered users, has today added ZCash (ZEC) to its product range. This brings the total number of cryptoassets available on eToro to 14. The platfrom includes Bitcoin, Ethereum, Bitcoin Cash, XRP, Litecoin, Ethereum Classic, Dash, Stellar, NEO, EOS, Cardano, IOTA, and BNB. ZCash transactions can be ‘transparent’, in which case the network operates much like Bitcoin, or they can be ‘shielded’, meaning sender, recipient and payment values are not published on a public blockchain. This structure allows for payment audits to be completed, but only at the user’s discretion. Yoni Assia, Co-founder and CEO at eToro commented: “The way in which we transfer money from person to person, or company to company is constantly evolving. It is not surprising that others have taken on some of the core ideas behind Bitcoin and developed new payment networks with additional features – in the case of Zcash – privacy. We are excited to offer ZEC to eToro investors as they seek to diversify their cryptoasset holdings.”
FXCM, a leading international provider of online foreign exchange trading, CFD trading, cryptocurrency and related services, today announced that FXCM Pro, the institutional arm of the business, has strengthened its partnership with Gold-i, offering its clients access to its FX, CFD and cryptocurrency liquidity through Gold-i Matrix Net. Matrix Net enables Prime of Prime brokers and Liquidity Providers to distribute liquidity to brokers who use Gold-i’s Matrix, MT4 Bridge and MT5 Gateway products. It leverages Gold-i’s large client NETwork of brokers worldwide. The additional liquidity distribution channel for FXCM Pro will help the firm to drive further growth and reach brokers who may otherwise not be able to access their multi-asset liquidity. Mario Sanchez, Managing Director, FXCM Pro comments, “FXCM is delighted to expand its relationship with Gold-i and integrate FXCM Pro pricing within Gold-i’s Matrix Net. This technology is extremely popular amongst our institutional client base and it was a natural fit. As a globally recognised Liquidity Provider, the FXCM Pro team is confident that Gold-i’s cutting-edge system will complement our extremely competitive spreads to provide FXCM Pro’s institutional clients with a top-notch trading experience.” Tom Higgins, CEO, Gold-i adds, “As Matrix Net continues to gain momentum, we are delighted to add further value to our clients by offering them access to FXCM Pro’s multi-asset liquidity. FXCM is a highly respected firm with a high quality liquidity offering. They are a great addition to our NETwork.”
Forex Brokers Saxo Bank has just announced an agreement with BinckBank a Dutch Online brokerage. BinckBank and Saxo Bank have reached a conditional agreement on a recommended all-cash public offer of EUR 6.35 (cum dividend) per issued and outstanding ordinary share and priority share of BinckBank representing a total consideration of EUR 424 million. The offer price represents a premium of 35% over the closing price of 14 December 2018, and a premium of respectively 42%, 43% and 38% over the average volume weighted price per share over the last one, two and three calendar months, delivering immediate, certain and significant value to BinckBank shareholders Transaction unanimously supported and recommended by BinckBank’s executive board and supervisory board Saxo Bank has committed financing in place and will fund the transaction via a combination of equity injections by its shareholders and cash at hand The parties have agreed to certain non-financial covenants for BinckBank stakeholders for a period of three years Draft offer memorandum will be submitted to the AFM no later than end of Q1 2019 It is anticipated that the offer will close in Q3 2019 Kim Fournais, CEO and founder of Saxo Bank: “Combining BinckBank with Saxo Bank is a true win-win for all parties. Clients will get better products, prices, platforms and services, employees will benefit from enhanced career opportunities and, importantly, we will gain the necessary scale to further step up investments in technology and in our people. As the investment and trading industry matures and faces new regulation as well as rising expectations for digital client experience, scale, technology and multi-asset capabilities become increasingly key to long-term success. We have a strong cultural fit with BinckBank based on a shared vision and purpose to democratise investment and empower everyone to take control of their financial destiny. Our two companies complement each other well in terms of geographical footprint, brand, client segments, product suite and not least in the talented employees of both companies.” Vincent Germyns, chairman of the BinckBank executive board: “Since the origins of BinckBank in 2000, we have managed to build a strong position. We have become market leader in the Netherlands and Belgium and are strong challengers in France and Italy. We are confident that by combining BinckBank with Saxo Bank, we will be able to further strengthen our offering and growth in these markets. As such, it is important to note that Saxo Bank shares both BinckBank’s vision and mind-set focused on giving investors access to financial markets through technology and innovative solutions. Therefore, the combination of BinckBank and Saxo Bank is a natural fit and secures the future growth of BinckBank within a bigger and stronger organization and provides our customers with an even broader range of innovative products and services in the area of trading and investing. Merging both companies will help realize important economies of scale. On a term of two to three years, this will of course have consequences for staff. As far as possible these consequences will be met through natural staff turnover. In case of redundancies, a good severance scheme will apply. The executive board, supervisory board and works council support this severance scheme unanimously.” John van der Steen, chairman of the BinckBank supervisory board: “Talks with Saxo Bank have given us much trust in the combined future. BinckBank and Saxo Bank are quite similar companies with shared passions, ambitions and values. A combined future will strengthen our position in the European market and increases our added value to our customers. The Boards believe this transaction puts BinckBank in a stronger position going forward. The proposed transaction is the result of extensive negotiations between BinckBank and Saxo Bank over a period of several months and a shared vision for the combination going forward. The combination of a very attractive cash price, deal certainty, and strong protection of stakeholder interests through the non-financial covenants leads the boards to unanimously recommend this transaction.” Source: Saxo Bank
eToro, global investment platform, has announced that it has joined the Blockchain Association as an executive member. The compnay will help the Association to build more efficient financial systems and decentralized web applications by working alongised with other prominent organization in the blockchain system such as Coinbase, Circle, Digital Currency Group, and Polychain. Guy Hirsch, USA Managing Director, eToro, said: “As a company, we prioritize compliance with the regulations of all the jurisdictions we operate in around the world. As the United States’ blockchain industry evolves and matures, regulators and the industry need to prioritize conversations around ensuring consumers are informed and protected from bad actors. We are looking forward to collaborating with regulators and major industry players on how to provide guardrails without hindering innovation so that blockchain companies can flourish in a compliant manner. The Blockchain Association promotes policies that balance consumer protection and innovation and we’re proud to help drive its mission forward.” Kristin Smith, Director of External Affairs, Blockchain Association, said: “The power of open blockchain technology lies in the control it returns to individual consumers. eToro’s groundbreaking investment platform operates in that spirit, giving users the opportunity to trade across multiple asset classes, including cryptocurrencies, safely and securely. We’re excited to add eToro to a growing group of leading companies as we push for informed and responsive regulation that spurs innovation and protects consumers in this rapidly-developing industry.” eToro announced in May 2018 that it would expand into the US market with a cryptoasset investment platform for U.S. investors, set to launch in Q1 2019. Upon launch in Q1, eToro’s crypto platform will be available in multiple states across the region. Ahead of the launch, users can experience the interface and practice mock cryptoasset trading via the virtual portfolio feature.
Trading platform eToro announced the released of its own cryptocurrency wallet with initial support for four cryptoassets. Etoro, last month. became the first platform to offer fiat trading of cryptocurrency exchange Binance's in house Binance Coin, promises to add additional functionality to the product following the initial release. “The eToro wallet today is just the beginning and we will adding a whole host of additional functionality which will include supporting additional crypto and fiat tokens, crypto to crypto conversion, the ability to deposit fiat, payment in store and more,” CEO Yoni Assia commented in the press release. The wallet will at first provide support for Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC). Initially, the ability to transfer crypto from eToro to the wallet will be available to Platinum Club*** members for Bitcoin. This will gradually be extended to more users and a greater number of crypto assets. Etoro, currently supports fourteen total crypto currencies on its platform.
The Securities and Exchange Commission today announced that it has voted to adopt amendments to modernize the property disclosure requirements for mining registrants, and related guidance, under the Securities Act of 1933 and the Securities Exchange Act of 1934. The amendments will provide investors with a more comprehensive understanding of a registrant’s mining properties, which should help them make more informed investment decisions. The amendments also will more closely align the Commission’s disclosure requirements and policies for mining properties with current industry and global regulatory practices and standards. Under the final rules, a registrant with material mining operations must disclose specified information in its Securities Act and Exchange Act filings concerning its mineral resources, in addition to its mineral reserves. Current Commission rules and guidance permit the disclosure of non-reserve estimates only in limited circumstances. Requiring the disclosure of mineral resources in addition to mineral reserves will provide investors with important information concerning the registrant’s operations and prospects. “The final rules will modernize the Commission’s mining property disclosure regime by improving the quality and reliability of information provided to investors and by harmonizing disclosures with international standards, including removing the restriction on disclosure of mineral resource estimates that may have placed U.S. registrants and investors at a disadvantage,” said SEC Chairman Jay Clayton. “We appreciate the valuable input that we have received from a diverse group of interested parties that helped inform the Commission and shape the final rules.” The final rules include several other requirements designed to further the protection and understanding of investors. The final rules also reflect a number of changes to the rules proposed in June 2016 in response to commenters. The final rules provide a two-year transition period so that a registrant will not be required to begin to comply with the new rules until its first fiscal year beginning on or after Jan. 1, 2021. Source
Alpari Forex Broker announce that a new deposit method is now available on its website: Zcash Alpari will not be charging a commission for these deposits, although there may be commission fees charged by the Zcash network. To make a payment, clients need to complete the form in myAlpari, log in, and confirm the payment in their Zcash wallet. The minimum deposit amount is 0.05 ZEC, and funds will be credited to clients account as soon as a transaction receives 6 confirmations on the Zcash network. Source: "Alpari's offering a new deposit method: Zcash"
UK online FX, CFDs and spreadbetting broker CMC Marketc PLC has just announced that it has expanded its cryptocurrency spread betting and contacts for difference (CFDS). Now it includes three additional coins bitcoin cash, litecoin and ripple. Clients can now take a positon on the three altcoins paires against US dollar. The move follows CMC Markets’ extension of its cryptocurrency offering from professional to retail clients in July. At launch, the platform offered bitcoin and ethereum. At launch, the platform offered bitcoin and ethereum. David Fineberg, Group Commercial Director, said: Since the successful launch of our cryptocurrency offering in March, and subsequent extension to retail clients in July, our clients have expressed interest in extending their trading options beyond bitcoin and ethereum. We are pleased to offer them the chance to take a position on bitcoin cash, litecoin and ripple, three altcoins which continue to generate much speculation among traders. Spread bets and CFDs offer a way to trade on cryptocurrencies as clients can take a position on market movements without owning the asset. By trading with an established provider, funds can be deposited and withdrawn with ease, avoiding the risks of purchasing cryptocurrencies directly through an exchange. However, like all other financial instruments we offer, we always recommend clients understand the risks and conduct thorough research before trading.
eToro becomes first platform to list Binance Coin (BNB) for trading, taking the total number of crypto assets listed on the platform to 13 digital assets. According to its press release, eToro becomes the first investment platform to list BNB outside the Binance, and it now offers its investors the ability to trade in both utility and security tokens on the platform. Changpeng Zhao, Founder, and CEO of Binance said the listing of the BNB on eToro opens the token to a new market. We are honoured and excited to be listed on eToro. With this addition, the Binance coin can reach millions more people, many of whom are more accustomed to the traditional financial industry. As an utility token, we believe in creating long term utility and value. We will continue to do so together with eToro. Like all other cryptoassets, investors choosing BNB on eToro own the real underlying asset, with eToro acting as custodian. Yoni Assia, Co-founder and CEO at eToro commented: Despite sensational headlines about the death of crypto, we continue to believe in the potential for crypto assets, as do our clients who are increasingly looking to diversify their crypto holdings. In response we will continue to add the leading crypto assets to our range and we are pleased to add BNB to the platform. As a regulated securities broker we have the ability to offer both utility and security tokens on our platform. We support the movement of assets onto the blockchain and the tokenisation of securities. In fact, we believe that in the future we will see the greatest transfer of wealth ever, onto the blockchain. Trading BNB BNB, now available on the eToro platform, is suitable for a wide variety of traders with differing agendas. Long-term traders can benefit from the absence of overnight fees and maintain a hold position on BNB, predicting a rise in its popularity and value. Day traders can anticipate the potential for volatility that often provides the opportunity for short-term gain. Over the last several years, cryptocurrencies have a track record of being extremely volatile.Those new to cryptocurrency trading may wish to consider BNB as a viable option. It is considered more stable than the majority of other cryptocurrencies, as it is backed by a single exchange with a public address. Conversely, nobody knows the identity of the person who invented Bitcoin, despite its decade-long existence.
Porsche, will increase in its investments in startups with a focus on Blockchain and Artificial Intelligence (AI) by around $176 million over the next 5 years, according to a company press release published September 25. According to the press release, the automobile company says that the objective of this Investment is to gain access to trends, new technologies and business models. Specifically, will invest in companies that are in an early stage or growth stage that relate to "customer experience, mobility and digital lifestyle" as well as future technologies including blockchain, AI, and virtual and augmented reality. Meschke, deputy chairman and member of the executive board for finance and IT at Porsche AG, says that in order to continue bulding on the success that they have enjoyed over the past few years, they must fundamentally change their business model. “To continue building on the success that we have enjoyed over the past few years, we must fundamentally change our business model. Porsche has always been among the pioneers of the automotive industry. To date, innovation has been driven to a large degree by technology and with strong links to our current core competencies. The idea of implementing blockchain in the development of its vehicles is not new to Porsche, as they have been exploring the field with XAIN, a German startup that specializes in blockchain technologies for the mobility sector.
With 30 successful years of experience in the financial markets, Windsor Brokers continues its growth and expansion, this time focusing on the Middle East. The Jordan Securities Commission (JSC) has recently granted a new license to Windsor Brokers under Seldon Investments Ltd. Thanks to our new license and the office in Amman that will open in a couple of months, we will be strengthening our ties and boosting our activities to cater to the needs of investors from Jordan as well as from the Middle East region with a more local approach. CEO of Windsor Brokers Johny Abuaitah said “Jordan is part of our global growth strategy, adding value to our credibility, to our professionalism and high-end businesses practices. Our office in Jordan aims to provide clients of the Middle East with a 24/5 Arabic customer support and quality services as this region has always represented an important part of our client base”.
The government of Bahamas has announced the development of a native cryptocurrency. This is according to Deputy Prime Minister and Minister of Finance, K Peter Turnquest who made the announced earlier this week during The Bahamas Blockhain and Cryptocurrency Conference. “The production of a modern fully digital payment service is the way forward for this era of governance. A digital Bahamian currency is especially important for the many family islands as they have seen many commercial banks downsize and pull out of their communities, leaving them without banking services. As an island nation, where transportation can be an inconvenience for many, especially the elderly, and costly, we must offer financial services digitally and securely,” said the deputy prime minister who added that he hopes the island of Grand Bahama will become the digital paradise of the region. The island is known for its tax heaven status and the reason that businesses from around the world that are based in The Bahamas are mostly for its policy of ensuring shareholder privacy and relaxing any tax requirements on foreign-earned income. Any business who want to make an advantage of tax incentives could establish itself as internal business company (IBC) on the island, which exempts it from all taxes for the next 20 years. After this period, the company is liable for taxes only on income it makes on any of the islands, as well as stamp and estate taxes. When coming to government just over one year ago, the deputy prime minister said he wanted the country to have used a blockchain type of technology so as to be more efficient and root out corruption in the government system. "Using technology and single points of contact we're able to eliminate a lot of the human element that facilitates corruption, and so when we talk about applying for government services, if we have a single portal for entry and all of the processing being done behind the scenes, either through electronic data interchange or through human facilitation we can eliminate that point where, we Bahamians call it, you have to tip somebody in order to get service.” This system will not only be more efficient, but reduce the cost of doing business in The Bahamas.
Windsor Brokers rolls out cryptocurrency trading by adding bitcoin to their range of trading instruments. Windsor's clients, can trade the popular Bitcoin CFD (XBTUSD) on the Windsor MetaTrader 4, with zero commissions and zero fees. Jabra Serieh, Director of Sales and Marketing, commented: The addition of Bitcoin comes in response to the growing popularity of cryptocurrencies, and as part of our continuous commitment to provide our clients with new products. Whilst more traditional instruments like Forex and commodities continue to be a popular choice for traders, we believe that Bitcoin will have an important role to play in the future of trading. Windsor Brokers hopes to introduce more Cryptos throughout the year as the invention of Bitcoin has certainly changed the fintech and trading landscapes forever. Learn more here.
Speech by Andrew Bailey, Chief Executive of the FCA, at City Week ‘The International Financial Services Forum’. regarding Brexit, UK and EU authorities, and more. Highlights Now is the time for the UK and EU authorities to come together and work on the solutions to reduce the risks to financial stability that Brexit could pose. At the FCA we want to work closely with ESMA and national EU regulators to continue to enhance the stability and effectiveness of global markets. This has global implications, not just for the UK and EU, so it is important that we get this right. Below is the speech as drafted: I want to take this opportunity to talk about Brexit, where things stand from a financial services perspective. In doing so, I will focus on what it means to have open markets, and how we can preserve them for the benefit of all. It is useful to divide the subject into 2 parts: the prospects and reasons for a transition or implementation period; and what the steady-state future world could look like. I will follow that approach today. Before I do, I will make one point: we – that’s the UK and the European Union (EU27) - will not be able to achieve a successful outcome during both transition and steady-state without working together. Now is the time for the UK and EU authorities to come together and work on the solutions to reduce the risks to financial stability that Brexit could pose. At the FCA we want to work closely with European Securities and Markets Authority (ESMA) and national EU regulators to continue to enhance the stability and effectiveness of global markets. This has global implications, not just for the UK and EU, so it is important that we get this right. Transition or implementation period There are 2 reasons in my view why we need a transition or implementation period. First, we need more time to mitigate these cliff edge risks – call that the transition reason. Second, it makes far more sense for firms and authorities to put into effect their plans only once they know what the steady agreement looks like – call that the implementation reason.I welcome the agreement at the European Council on 23 March 2018 that there should be a transition or implementation period. UK withdrawal from the EU without such an agreement would create risks for both the UK and the EU27 of a so called cliff edge - which we should all want to avoid. The UK Government, supported by regulators, has taken a strong and very welcome stand on the need for a transition or implementation period, and I am encouraged by the acceptance of this point on both sides. This matters in financial services because the risks around contract continuity, data sharing, and broader market disruption could jeopardise financial stability, the preservation of which is a shared objective of both sides. If you want to know more about these risks, there is a useful description in the statement of the Bank of England’s Financial Policy Committee following its most recent meeting in March. The cliff edge risks are symmetric in that they are present in both the UK and the EU. To reiterate, regulators and authorities in the UK and the EU share common objectives to preserve financial stability, and we have a common obligation to do everything we can and work together to do that. Financial stability is far too important to engage in a standoff. I do recognise that the overall transition or implementation package is viewed as indivisible and that there remain issues to be agreed on it which are outside the area of financial services. But that does not stop authorities both here and in the EU working together to mitigate the cliff edge risks, even if we do not yet have a final agreement on what these arrangements will be. The best thing we can all do now is to engage openly and speedily together to work on solving these issues and thus to preserve financial stability and protect consumers and users of financial markets. By doing this, we can create confidence that we will put into effect as smooth a transition as possible. We are ready to get to work on this. And, I would echo the words of Vice President Dombrovskis, namely that the ‘most important common objective in relation to Brexit must be to preserve financial stability’. But for the moment we cannot assume that such arrangements will be in place and so the UK authorities have also set out plans for unilateral action in the UK to minimise cliff edge risks, providing continuity for firms doing business in the UK and confidence for their customers. The Government has committed to legislating for a temporary permissions regime. I welcome this, something that has been a priority for the FCA for some time as we believe that this provides certainty for firms which passport into the UK from the EU. Alongside this, we are working to ensure a functional regulatory framework on day one of Brexit and as much continuity as possible in any scenario. Crucial to this is the very large amount of work we are undertaking on the EU withdrawal legislation. But – and it is a big ‘but’ – while it is necessary to have unilateral actions in place for the UK, this is nonetheless a distinctly second best solution to the UK and EU authorities working together to deal with the risks. Let’s get on with it please. The steady-state ‘All merchants are to be safe and secure in leaving and entering England, and in staying and travelling in England ……… to buy and sell free from all maletotes [unjust taxes] by the ancient and rightful customs’.Dealing with the transition will allow us collectively to focus on the steady-state future. The central guiding principle here must surely be that both the UK and the EU have a long history of promoting free trade and open markets. Open markets run deep in the history of the City of London - in fact as deep as you can get. The third Mayor of London, Serlo le Mercer, was a signatory of the Magna Carta in 1215 which stated that:- His successor, William Hardell was responsible for enforcing it, the predecessor of the FCA’s enforcement function. On day one of Brexit the UK and the EU will have deeply integrated financial markets with aligned regulatory rules. That is a benefit to both sides. Moreover, the benefits of open markets are worth preserving. And we can do it. We can together build an approach that supports mutual recognition of each other’s standards to support cross-border business. To reiterate the point I made on transition, this is the best way to maintain financial stability. Unfortunately, I have heard the argument made that the best way to preserve financial stability would be to become less open, to limit cross border flows of business, to restrict domestic parties from having access to overseas markets, and thus to ensure that activity takes place in the home jurisdiction. Let me reiterate, to do this means restricting the activity of parties in the EU. I say this because I have no doubt that the City of London will remain open to business, so the question is whether EU parties will be allowed to do business here, not whether we will allow it. In my view, closing access to financial markets which are global not regional will undermine not enhance financial stability. It will reduce the potential for financial markets to support growth and trade, impair innovation and limit the ability to manage risk, and thus make the overall financial system more fragile. Moreover, closing off access to markets by not recognising on a robust basis other jurisdictions amounts to an own goal from the perspective of choice and competition. This has been recognised in a draft report from the European Parliament by Brian Hayes MEP, which notes that increased regulatory and supervisory cooperation between the EU and third countries has improved global consistency and made the EU more resilient to financial shocks. The report also notes that unlike equivalence, international agreements can provide mutual access between the EU and third countries which can better advance international cooperation. For example, equivalence decisions in the derivatives and trading space have allowed European banks to service clients across the world and EU investors to access pools of liquidity anywhere in the world.Yes. I agree. Equivalence decisions and even better mutual recognition, increase choice and competition in home markets. They are good for users. The EU has already made over 200, and continues to make equivalence decisions which demonstrate this. UK markets are highly open and have remained so notwithstanding the experiences of the crisis. It would have been tempting to retreat from such openness following the crisis, but it would have been the wrong thing to do. In the UK we already have a policy for branches from non-EU countries in the UK which allows them to establish under certain sensible criteria. One of the less well known features of the UK regime is the Overseas Person Exclusion which allows overseas firms to provide services to UK based clients on a range of wholesale business without the need to set up a branch. We think approaches like this are a sensible and proportionate way to support stable global financial markets. It is underpinned by close supervisory cooperation which we have been strong advocates for and practitioners of. I agree with Brian Hayes MEP that the current EU equivalence regime doesn’t best suit any of the parties. Mutual recognition, as he suggests, would be the better way to establish the steady-state between the UK and the EU in future. How could mutual recognition work? We can start by recognising that our regulatory frameworks are equivalent on day one of Brexit. This will be delivered, no doubt about that. Both the UK and the EU will retain autonomy in rule making, but we should put in place cooperation and coordination structures that work to keep them materially consistent. For instance, at the FCA we want to work closely with ESMA and national EU regulators to promote common standards in international fora in order to enhance the stability and effectiveness of global markets. Our supervisory cooperation should be commensurate with the integration of our markets. We should always base our rules on prevailing international standards. Continued alignment with such standards should be a clear intended outcome of any responsible financial centre, and where rules implement international standards, there should be a strong presumption of equivalence. On this basis, mutual recognition seems to be to be eminently achievable. And, to be clear, this is not cherry picking, because that phrase gets used rather loosely at times. It is in fact the opposite.But international standards are not always sufficiently detailed, and in some cases jurisdictions may wish to go further, and expect that firms operating in their market do likewise. As our rules evolve, we should regularly assess the differences on the basis of the outcomes they deliver. It should be possible to develop a set of principles by which we assess outcomes based equivalence, and that these work across the financial services landscape. It should give both sides comfort about risks, critically in terms of risks to our goals of financial stability, market integrity, consumer protection and competition. And, it should not promote regulatory arbitrage. Conclusion I am encouraged that there are now fewer comments to the effect that financial services cannot feature in the steady-state agreement between the UK and the EU. They can and they should because the benefits of open markets will be realised by both sides. And, it is the best way to ensure financial stability, the integrity of markets, the protection of consumers, and competition and choice. These are the key public interest objectives for all of us, here and in the EU27. Meanwhile, we have to work together now to mitigate the immediate cliff edge risks. I’ll say again, now is the time for the UK and EU authorities to come together and work on the solutions to reduce the risks to financial stability that Brexit could pose.
Bitcoin, Ehereum, Ripple, Litecoin and a few other high visible cryptocurrencies have made early investors very rich, very quickly. If you were lucky enough to buy Bitcoin early on, the chances are that you are retired now. No other investment in the world performed like BTC over the las few years and those that saw the revolution coming are now multi-millionaires. However, this doesn't mean that investors will not look into the next lucky coin while the crypto craze lasts. Below are the tips for finding the best new cryptocurrencies of 2018: PRICE Look for cryptocurrencies trading at less than a dollar. There are couple of reasons why to look the cheaper prices. One of them is that a price below a dollar creates the illusion that the cryptocurrency is "cheap", especially for investors with little funds to invest. Another, is that smaller numbers can more easily double and triple than larger numbers can. If you do use this tactic it is important to spready your risk by investing in a number of cryptos and not just one. CRYPTOCURRENCY ADAPTATION One thing you should do is to check cryptocurrency websites to asses which coins are most promising. You want to choose ones that have the best chance of being adopted as a currency. By doing this, you can estimate the "intrinsic" value of each coin, once it reaches a certain level of adoption or a set level. FOLLOW COMMUNITIES Check Reddit groups or any other social media groups and follow such communities that consist of "innovators" and "early adopters". See which ones everyone is talking about and use it to help guide you to the ones you should investigate before buying. HIGH CIRCULATED SUPPLY Look for cryptocurrencies with a high circulated supply versus the maximum supply. The reason is obvious: These cryptocurrencies are more likely to rise in price with rising demand, as there's little supply left to match it. PRICE CHARTS It is also important to check volume and price charts. You want to consider cryptocurrencies with a char of accelerating price and volume growth, as this kind og chat is a confirmation of momentum for these currencies. Following these tips should be taken with extreme caution. If you will invest be cautious as it is a risky game and it's hard to predict when the hype will fade and coins will become near-worthless.
FCA regulated Retail FX and CFDs broker Admiral Markets UK LTD, has issued a warning on its website, regarding a company calling itself Admiral Crypto at website domain admiral-crypto.com The clone entity site is in French and English and claims to offer cryptocurrency trading services and also claims to be an entity of Admiral Markets UK, Ltd and states that is subject to UK regulatory supervision also making reference to the actual website of Admiral Markets UK Ltd. See the official warning on Admiral Markets Ltd
European Securities and Markets Authority, has issued EU Regulator ESMA Cryptocurrency Risks Warning for investors
The European Supervisory Authorities (ESAs) for securities (ESMA), banking (EBA) and insurance and pensions (EIOPA) have made an announcement for consumers regarding the risks of buying cryptocurrencies. The ESAs are concerned that an increasing number of consumers are buying VCs unaware of the risks involved. VCs such as Bitcoin, are subject to extreme price volatility and have shown clear signs of a pricing bubble and consumers buying VCs should be aware that there is a high risk that they will lose a large amount, or even all, of the money invested. Additionally, VCs and exchanges where consumers can trade are not regulated under EU law, which means that consumers buying VCs do not benefit from any protection associated with regulated financial services. For example, if a VC exchange goes out of business or consumers have their money stolen because their VC account is subject to a cyber-attack; there is no EU law that would cover their losses. Some VC exchanges have been subject to severe operational problems in the past. During these disruptions, consumers have been unable to buy and sell VCs when they wanted to and have suffered losses due to price fluctuations during the period of disruption. ESMA ICO WARNING The ESMA states that this warning is based on article 9(3) of the three ESas' founding Regulations. It also serves as a message following the statement by the EU regulator from November 2017 about ICO risks.