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VTB Capital Forex has announced that it resumed retail trading Retail Trading In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade In finance, retail trading refers to individual traders, trading through a broker, or on a platform. This can include novice traders and experienced traders. Trading and investing are divided into two categories, retail and institutional. Institutions include investment banks like JP Morgan or Citibank and global central banks like the US Federal Reserve and the European Central Bank. When we talk about retail trading however, we usually are referring to forex trading, but there are retail trade Read this Term on the foreign exchange (forex) market from Friday for all of its clients. However, it is still not allowing trading with any of the ruble pairs.

Announced on Friday morning, the broker is allowing clients to trade with 22 currency pairs, except for rubles. The minimum trade volume has been set at lots, while the maximum allowed open position is capped at 10 lots.

Impact of the Sanctions

VTB Forex is one of the four regulated Russian forex dealers. It is a part of Russia’s second-largest lender VTB Bank, which has been heavily sanctioned by western governments. The European Union even imposed a SWIFT ban on VTB, along with six other Russian banks in response to Russia’s invasion of Ukraine.

The forex broker temporarily suspended all of its services on 25 February, citing the implications of the anti-Russian sanctions. Its operations were hampered as it receives supplier quotations from VTB Bank.

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However, the Russian broker assured that it would resume the services after developing a procedure for eliminating or minimizing the negative consequences of anti-Russian sanctions measures, along with VTB Bank.

But, the business of VTB Capital Forex seems to have endured a massive dent because of its ties with VTB Bank. Other forex broker-dealers in the country suspended ruble pairs initially as the local currency dropped by more than 60 percent against the US dollar, but continued to offer trading with other currency pairs. Alfa forex, another Russian forex broker, even resumed trading activities with ruble pairs with increased margin requirements Margin Requirements A margin requirement is defined as the minimum equity sum that investors must keep in their margin account preceding a trading transaction. Margin requirements may be referred to as maintenance margin, minimum maintenance, or maintenance requirement. This is a requirement for broker trading in any asset eunic-brussels.eu terms of equities, the New York Stock Exchange (NYSE) and Financial Industry Regulatory Authority (FINRA) have a fixed margin requirement of 25% of the sum value of the securities presen A margin requirement is defined as the minimum equity sum that investors must keep in their margin account preceding a trading transaction. Margin requirements may be referred to as maintenance margin, minimum maintenance, or maintenance requirement. This is a requirement for broker trading in any asset eunic-brussels.eu terms of equities, the New York Stock Exchange (NYSE) and Financial Industry Regulatory Authority (FINRA) have a fixed margin requirement of 25% of the sum value of the securities presen Read this Term.

Meanwhile, the Central Bank of Russia has temporarily suspended the sale of retail forex and limited the withdrawal from foreign exchange accounts to up to $10,

Exness Promotes Shayma Ghanim to Country Manager

Shayma Ghanim, new Country Manager at Exness

Exness, a top forex and CFDs provider, has promoted Shayma Ghanim, its former Senior Key Account Manager and Team Leader for Middle East and North Africa, to the position of Country Manager. Ghanim announced the new role on Wednesday on LinkedIn.

Ghanim's promotion comes two years after she joined Exness in the former role. Writing on LinkedIn, the executive noted that she hopes to leverage the experiences and knowledge she gathered from her previous role “to help further drive Exness’ growth in the region.”

Although the executive did not mention the region that she will be working from in her LinkedIn post, her profile on the professional networking platform shows the role is a Cyprus-based hybrid role.

Numerix Acquires FINCAD from Zafin

Numerix, a provider of risk management technology for stakeholders in the capital markets industry, has taken over FINCAD, a provider of pricing and risk analytics solutions for financial derivatives and fixed income products. The company acquired FINCAD from Zafin, a pricing software solutions provider.

“This combination is a game changer for the industry, allowing Numerix clients to use the most robust front-to-risk decision making software with their choice of best of breed analytics," Steven R. O'Hanlon, President and CEO of Numerix, explained in a statement.

Numerix further noted that both companies boast of deep networks of sell-side, buy-side, corporate and insurance market clients across the capital markets industry.

Spotware Introduces cTrader Desktop

Spotware Systems has presented the cTrader Desktop release, introducing a host of essential features for both traders and algo developers. The Market Replay functionality enables users to evaluate their trading strategies using historical data without risking real funds. The cTrader Automate API now includes comprehensive internet access, the ChartShot method, in-app notification sounds for cBots and custom indicators, and an integrated Help Center.

ZA Bank Reveals 'Banking for Web3' Aspirations

ZA Bank has unvailed its latest strategy aimed at becoming the premier banking choice for the Web3 ecosystem, offering critical banking services to Web3 enterprises.

In its dedication to the Web3 community, ZA Bank is now fully prepared to act as the settlement bank for regulated Web3 entities in Hong Kong. Furthermore, it is ready to facilitate transactions for licensed virtual asset trading platforms (VATPs) such as Hash Blockchain Limited in a prompt and efficient manner.

Darwinex Zero Goes Live

On Wednesday, Darwinex announced the launch of Darwinex Zero, a subscription-based trading platform that allows traders to execute trades on the live market without risking any capital.

Traders need to pay a monthly subscription of €38 and a €95 one-off payment for signing up. It will provide access to over CFDs instruments of forex, stocks, commodities, and stocks. The platform has plans to expand the offering by adding futures, spot stocks, ETFs, and cryptocurrencies.

Darinex Zero offers a virtual trading account on MetaTrader 4 and MetaTrader 5. The program starts with traders proving their skills on the virtual account and then receiving seed capital on a tier-based program.

In the first stage, traders can receive €25k to €k in 3 months, and in the second stage, it can go up to €k in 6 months. The third stage opens access to external investments, while in the final stage, traders can promote their brands and approach their own investors.

Fortex Expands Trading Platform Features

Fortex, a provider of trading technology, has enhanced the offered features on its platform to meet the demand of its European Union client base. Some of the newly added key features are one-click trading, lot trading, price levels on charts, and the ability to save changes on the chart.

"With the growing demand for trading technology solutions in EU regions, Fortex is well-positioned to meet the needs of traders with its comprehensive and cutting-edge platform," said Jake Zhi, Director of Sales at Fortex. "Our latest expansion demonstrates our commitment to innovation and delivering exceptional value to our clients."

Recently, Fortex also enhanced its flagship platform XForce by adding new features to it. Meanwhile, the company recently onboarded Aris Christoforou as Head of Marketing and Regional Operations to strengthen its presence in the EU.

Saxo Bank Receives BBB Rating

S&P Global Ratings has rated Saxo Bank with BBB, which is the Denmark-headquartered group's first-ever rating.

Further, the company is also in the process of being appointed a Systemically Important Financial Institution (SIFI) later this year by the Danish Financial Supervisory Authority (FSA).

"We are pleased to receive a BBB rating with a positive outlook from S&P Global Ratings, which highlights our strong capital position and business model, cautious approach to risk management and ambitious growth strategy," said Søren Kyhl, Saxo Bank's Deputy CEO and COO.

"We are also excited about the prospect of becoming a SIFI later this year. This proposed designation is a recognition of our resilient business model and our commitment to providing top-quality platforms, products and services to our growing number of retail clients and institutional partners."

VTB Forex Adds Chinese Yuan

VTB Forex, one of the few Russian forex brokers, expanded the range of offered currency instruments with the addition of two new pairs: CNY/RUB and USD/CNY. The broker further highlighted that it will provide the narrowest spread on the Russian forex market for trading the CNY/RUB currency pair.

The addition of Chinese currency is strategic as the demand for CNY went up more than 44 times since the beginning of on Moscow Exchange. The most actively traded pairs are CNY/RUB and USD/CNY, the pair EUR/CNY is slightly less popular, the broker revealed.

"Like the Moscow Exchange, which became the first organized yuan market outside of China, VTB Forex became the first forex dealer in the Russian market to open yuan accounts for its clients to invest in forex," said VTB Forex's Vladimir Kostyukov.

"In our opinion, in the current situation, one of the most effective options for using foreign exchange assets is investing in the Forex market. I would like to note that in April , the CNY/RUB currency pair in the turnover of exchange trading reached 39%, while the share of the USD/RUB pair decreased to the lowest in recent years 34%. Therefore, we are confident that new currency pairs with Chinese yuan will become in-demand and integral instruments in a trader's portfolio."

Ninety One Hong Kong Fined HK$M

Hong Kong's financial market regulator, the Securities and Futures Commission (SFC), has reprimanded and fined Ninety One Hong Kong Limited (NOHK) HK$ million for dealing in futures contracts without the required license.

According to the regulatory investigation, the company executed 4, trades in futures contracts between April and January for portfolios managed by its three overseas affiliates without a proper license, thus violating local laws.

However, the SFC highlighted that it is not clear if the company violated the provisions deliberately and also of any client loss. The violation was reported to the regulator by the firm itself, which also cooperated in the investigation.

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Sanctioned Russian lender VTB made coupon payouts in roubles to holders of its subordinated bonds denominated in U.S. dollars and euros, the National Settlement Depository said on Tuesday.

Russia’s ability to continue servicing debt in foreign currencies is in focus as the government, which has so far averted a default, now faces issues paying holders of its sovereign debt.

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State-owned VTB, Russia’s second-largest bank, carried out coupon payments on its two bonds denominated in foreign currencies in Russian roubles, according to regulatory fillings disclosed by the bank.

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On Monday VTB paid a total million roubles ($ million) in coupon payouts on its two euro-denominated bonds and million roubles on the dollar-denominated bond issued last year, the documents showed.

Russian companies in other sectors have also encountered difficulties.

Earlier on Tuesday Russian diamond producer Alrosa said it had asked its trustee to apply to the UK’s sanctions regulator for a special license to allow the company to make coupon payments on its $ million Eurobond.

State-owned Russian Railways has said it attempted to make interest payments on bonds denominated in Swiss francs but was unable to do so.

The default risk carries possible lasting consequences for Russia, which now has limited access to its gold and foreign exchange reserves because about $ billion of state assets have been frozen by Western sanctions in response to what Moscow calls its “special military operation” in Ukraine.

If Russia fails to make any of its looming bond payments within their pre-defined timeframes, or pays in roubles where dollars, euros or another currency is specified, it will constitute a default.

While Russia is unable to access international borrowing markets because of sanctions, a default would prohibit it from accessing those markets until creditors are fully repaid and any default-related legal cases are settled. ($1 = roubles) (Reporting by Reuters Editing by David Goodman)

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