News Nuggets | 10 July: CNMV's New Warning; Recurring Payments by Praxis

<p>Spain Regulator Warns against Illegal Platforms
</p><p>Spain's financial market regulator, the National Securities Market Commission (CNMV), has added fifteen websites to its warning list that illegally offer services within its jurisdictions. Most of these websites are operating without any license or are outright frauds.
</p><p>"According to <a href="https://www.financemagnates.com/tag/cnmv/">CNMV</a> records, these institutions are not registered in the corresponding registry of this Commission and, therefore, are not authorized to provide investment services or other activities subject to the CNMV's supervision," the regulator noted.
</p><p>These websites primarily offer risky trading instruments like margin forex and contracts for differences (CFDs).</p><p>New Zealand Flags A Financial Imposter
</p><p>New Zealand's Financial Markets Authority (FMA) has flagged PSLUS.COM, calling it an imposter website of a legitimate company. The fraudulent website offers trading services with stocks, indices, and other instruments.
</p><p>"Its website offers investments but is not registered to provide financial services here in New Zealand," the FMA stated. "It purports to be a registered company in New Zealand by using the Certificate of Incorporation of a legitimate New Zealand company, PSL Enterprises Limited. The director of PSL Enterprises Limited confirms it has no association with this website."
</p><p>iFOREX Enhances Educational Tools
</p><p><a href="https://www.financemagnates.com/tag/iforex/">iFOREX</a> has enhanced its service by introducing some customer-centric services, including personalized guidance from experts. The motive of the broker looks to educate novice traders who are its potential customers.
</p><p>"We're thrilled to expand our educational offerings to fit the needs of our traders in Latin America. Our Spanish language support brings our clients even more options for improving their trading skills and knowledge," said Vasilis Katsikadis, a Marketing Manager at iFOREX. "Our commitment to education and support is at the heart of our mission, and we believe that providing access to top trading tools in multiple languages is an important part of that."
</p><p>B3 and NASDAQ Tie to Develop Clearing Platform
</p><p>B3 and Nasdaq announced their partnership to develop a new clearing platform for the Brazilian stock exchange. The upcoming platform will provide clearing, settlement, and management of counterparty risk associated with financial market transactions.
</p><p>"We are working diligently to ensure that our clients have access to the best solutions available in the market, always aiming at improving our services, increasing capacity and availability, and offering better time to market," said Mario Palhares, Chief Operating Officer of Electronic Trading and CCP at B3.
</p><p>Praxis Tech Launches Recurring Payments
</p><p>Praxis Tech, a payments technology company, has broadened its offerings with the latest addition of recurring payment features. Merchants using the Praxis software will have advanced customization options with the new feature.
</p><p>The company further highlighted that it brought recurring payments to capture the share in a market growing at a CAGR of 16.10 percent. It also pointed out that the subscription/recurring billing management market is expected to reach $22.77 billion by 2030.
</p><p>"While accommodating our existing clients remains our top priority, we look into bringing our payments orchestration platform to new verticals. Recurring/subscription payments have been one of the strongest trends in online payments, and tapping into this consumer behavior on a bigger scale opens further potential for Praxis and our clients," said Praxis' CTO Guy Karsenti.</p>

This article was written by Finance Magnates Staff at www.financemagnates.com.