IG group has received the necessary regulatory approvals from the National Futures Association, the regulatory body for US market derivatives. The British Financial derivatives broker has made its application back in October 2017.
The firm will open its new office mid of the financial year 2019. Its office will be located in Chicago at the heart of the city’s Financial District. The firm has already made all the hires that it needs and is ready for the new branch.
Saxo bank expands to the Indian subcontinent
Saxo bank has expanded its operations to the Indian subcontinent with a new office in Gurugram. The Danish investment bank employs more than 1,600 employees and has branches in 16 countries. The company is also planning to increase its workforce in India with plans to hire more 200 employees.
Finance magnet’s Interview with Gibraltar’s Commerce minister
Gibraltar became one of the countries to legalize blockchain. The Gibraltar Financial service commission set up a group to work with blockchain technology in 2014.
Speaking to Finance magnet Gibraltar Minister of Commerce has reiterated that it was a good decision “We believe blockchain technology has got a lot of promise if we can regulate it safely,” he said.
FX brokers fill the heat as customers turn to offshore brokers
Foreign exchange brokers are reporting a drastic drop in their business activities. This comes three months after the European Union’s financial regulator; the European securities market has tightened its restriction. The new laws caused the customers of these brokers to give their money to unlicensed offshore companies.
Visa and MasterCard crackdown on offshore financial firms
Visa and MasterCard have started to block payments to and from unlicensed financial service firms. The world’s two leading credit companies now classify these companies in the same category with gambling and binary options companies.
Tether loses values, still concerns from investors
Tether dropped drastically in value last week and its ability to exchange for dollars has been suspended for months. It is pegged to the value of the US dollars and has been popular despite concerns about transparency and certain business connections
ICO and Institutions
Normal people and individuals have now been locked out from the investing in initial coin offerings. The big money blockchain focused investment funds have been unsuccessful in turning to profit in recent years.