News Nuggets | 24 August: Equiti Enters Qatar; Swiss Finance Corp Adds LumeFX

<p>Swiss Finance Corporation Adds Lucera's LumeFX Platform
</p><p>Swiss Finance Corporation has partnered with Lucera, adding its trading platform, <a href="https://www.financemagnates.com/institutional-forex/technology/lucera-launches-lumefx-a-flexible-remedy-to-fragmented-fx-liquidity/">LumeFX</a>, to the offerings of its institutional clients. The trading platform ensures low-latency and high-performance trading operations.
</p><p>"As a multi-asset financial services provider operating 24 hours a day, our customers demand the highest standards of pricing, liquidity, and reliability. Lucera has an excellent reputation, and we are confident that this partnership will complement our ambitious growth plans in the years ahead," said Ben Robson, Head of EFX at Swiss Finance Corporation.
</p><p>Peter Durkan, CEO of Lucera Financial Infrastructures, added: "Our goal is to provide our clients with top-tier solutions, empowering them to efficiently scale their business in an increasingly electronic and competitive industry. We're excited to be part of this journey with the team at Swiss Finance and look forward to working together as they expand."
</p><p>Equiti Enters Qatar With Local Partnership
</p><p><a href="https://www.financemagnates.com/tag/equiti-group/">Equiti Group</a> has expanded its reach in the Middle East by signing a Memorandum of Understanding (MoU) with Qatari holding company MK Enterprise. Though the scope of the partnership remains undisclosed, it will allow the broker to expand into the country.
</p><p>"Our expansion into Qatar brims with potential, as this dynamic market seamlessly aligns with our trajectory for growth," stated Mohammed Alahmad Ketmawi, Co-founder and Chief Managing Director of Equiti Group. "Qatar's strategic importance cannot be overstated."
</p><p>Headquartered in London, Equiti operates from several global offices. It offers its services under seven regulatory licenses.</p><p>Morgan Stanley Fined £5.4 Million
</p><p>Ofgem, the British regulatory body overseeing electricity and downstream natural gas markets, has imposed a monetary penalty of £5.41 million on <a href="https://www.financemagnates.com/tag/morgan-stanley/">Morgan Stanley &amp; Co. International plc</a> (MSIP) for not recording and retaining electronic communications between January 2018 and March 2020. As Morgan Stanley settled, it received a 30 percent discount on the original fine.
</p><p>It is the first time the authorities in Great Britain have imposed a penalty for lapses in requirements around recording and retaining electronic communications relating to trading wholesale energy products.
</p><p>"This fine sends a strong message to market participants that they must comply with all REMIT rules or face enforcement action," said Cathryn Scott, Regulatory Director of Enforcement and Emerging Issues at Ofgem.
</p><p>SEC Charges Former Corrections Officer for Crypto Fraud
</p><p>The Securities and Exchange Commission (SEC) has charged a former lieutenant at the New Jersey Department of Corrections, John A. DeSalvo, for a <a href="https://www.financemagnates.com/cryptocurrency/education-centre/the-importance-of-staying-vigilant-against-crypto-scams/">crypto scam </a>that targeted police officers and first responders.
</p><p>DeSalvo allegedly raised $623,388 from 222 investors by selling Blazar tokens from November 2021 to May 2022. He claimed Blazar would "replace traditional state pension systems" for police, firefighters, and paramedics, promising lucrative returns.
</p><p>"Blazar Token is the first token or coin that is able to be purchased through payroll deduction every week. It will be taken out of one's weekly earnings pretax similar to payment into a pension, 401k, IRA, or any other retirement savings plans," DeSalvo allegedly told investors.
</p><p>Options Technology Hires New SVP of Sales Engineering
</p><p><a href="https://www.financemagnates.com/forex/tools-for-brokers-partners-with-options-provides-complex-solution-for-retail-brokers/">Options Technology</a>, a provider of cloud-based managed services, market data, and IT infrastructure solutions, has Scott Feagans as Senior Vice President of Sales Engineering.
</p><p>Feagans previously held executive roles at TNS and ICE in his 20 years of industry experience. He also sold his NetXpress to TNS in 2019.
</p><p>"I am confident that my straightforward, people-focused approach, coupled with a drive for innovation and a genuine passion for the capital markets, will play a key role in our success," Feagans said.
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This article was written by Finance Magnates Staff at www.financemagnates.com.