Monday, November 30

Day: October 3, 2020

Sebi bans 6 individuals in front running case of India Infoline Group
Stock News

Sebi bans 6 individuals in front running case of India Infoline Group

Sebi has barred six individuals from the capital market after it unearthed a front running case involving a dealer of India Infoline Group and his connected entities using mule accounts. It was also observed that these individualswere front running the trades of IIFL Asset Management and several alternative investment fund schemes under IIFL Wealth Management.IIFL Wealth is part of India Infoline Group.The regulator examined KYC details, call data records, bank statements of the suspected individuals to probe relationships between various individuals under its scanner in the case, after Sebi's own internal surveillance system generated front running alerts against Virendra Pratap Singh and Neha Virendra Singh between December 2019 and March 2020.In its interim order, Sebi said the ...
A guide to setting up a crypto business in Switzerland
Crypto News

A guide to setting up a crypto business in Switzerland

As the cryptocurrency world matures with more and more jurisdictions legalizing it and ensuring crypto becomes an industry standard, cryptocurrency receives a quality mark that proves that it can earn users’ trust. Over the next four years, the European Union will introduce new rules that will allow the introduction of blockchain technologies and crypto assets into the traditional financial sector.For now, however, the need to obtain regulatory approval for financial activities remains the main obstacle to entering the market, which is also associated with a large waste of time and money for startups — although this is not always the case. Additionally, each business model requires a specific type of license.Crypto regulators and types of authorizationThe Swiss Financial Market Sup...
Trump’s condition has improved, but no release date determined, doctor says
Business news

Trump’s condition has improved, but no release date determined, doctor says

White House physician Sean Conley answers questions during an update on the condition of US President Donald Trump, on October 3, 2020, at Walter Reed Medical Center in Bethesda, Maryland.Brendan Smialowski | AFP | Getty ImagesPresident Donald Trump's condition has improved since receiving care at Walter Reed Medical Center after testing positive for the coronavirus, Trump's physician, Dr. Sean Conley, said on Saturday."At this time the team and I are extremely happy with the progress the president has made. Thursday he had a mild cough and some nasal congestion and fatigue. All of which are now resolving and improving," Conley told reporters.Conley's relatively positive words, though, stood in contrast to other signals out of the White House."The president's vitals over ...
What is short selling? – How to Trade In a Downward Market
Suggested, Trading Tips

What is short selling? – How to Trade In a Downward Market

Though in trading, the main point may be to speculate on the price change, regardless of what that change is, many traders stick to trading on rising assets. “Long” positions are more conventional and it is understandable, as growing in price assets might be associated with good performance. However, selling may be just as good of an opportunity, though it has to be approached with knowledge and a good trading plan. What is short selling? Going “short” or opening a short position means investing with a prediction of the asset price going down and expecting a positive outcome from a trade in that direction. Short positions can also be referred to as “bearish” and the traders that open short positions are called “bears”. Short selling is available on different ass...
Institutionalize crypto markets now: There must be compliance controls
Crypto News

Institutionalize crypto markets now: There must be compliance controls

Thanks to regulatory uncertainty from the United States Securities and Exchange Commission and a hodgepodge of state licensing requirements, the development of crypto trading in the U.S. remains stuck in the backwaters of trading reserved for Over-the-Counter Bulletin Board issues.In order to ensure the continued and healthy growth of digital asset markets, it is critical to expand the market share of institutional crypto trading. That’s a better business model for digital asset markets, and it will force U.S. regulators to act quicker. Digital asset markets embracing this will realize that better controls will attract more institutional liquidity, and organizing behind a governing set of control principles is where to start.Fortunately, the Association for Digital Asset Markets, or ...
US Pres. Trump to work from hospital for next few days, no transfer of power
Forex

US Pres. Trump to work from hospital for next few days, no transfer of power

After moving into Walter Reed National Military Medical Center late Friday, US President Donald Trump is said to spend the next few days in the hospital as a precautionary measure, White House Press Secretary Kayleigh McEnany said in a statement on Saturday.McEnany said Trump’s symptoms are mild and that he would continue to work from a special suite at the military hospital in Maryland.“We’re just trying to make sure that he takes it easy but he’s hard at work and will continue to,” McEnany told Fox News.Meanwhile, Trump’s election campaign manager Bill Stepien also tested positive for COVID-19.Calming fears over the uncertain US political climate, especially with just 31 days to for the Presidential election, White House spokesman Judd Deere said, “there will be no transfe...
Trump ‘doing very well,’ has started Remdesivir therapy, White House physician says
Business news

Trump ‘doing very well,’ has started Remdesivir therapy, White House physician says

President Donald Trump was taken to Walter Reed Medical Center on Friday "out of an abundance of caution" following his coronavirus diagnosis, the White House said.White House physician Sean Conley said in a statement late Friday night that Trump was "doing very well," has started Remdesivir therapy and does not require supplemental oxygen.Trump also tweeted at 11:31 p.m. ET: "Going welI, I think! Thank you to all. LOVE!!!"Trump was seen wearing a mask as he departed the White House shortly after 6:15 p.m. ET and walked toward his helicopter, Marine One. He waved to the press but did not stop for questions.The move, which appears to mark an escalation in the efforts to treat the president, is being made "as a precautionary measure," a senior administration official told NBC News....
COVID-19, Trump, KuCoin, BitMEX: Bitcoin price says keep calm and carry on
Crypto News

COVID-19, Trump, KuCoin, BitMEX: Bitcoin price says keep calm and carry on

Bitcoin (BTC) price appears on the verge of closing another week pinned below the $11,000 resistance but given the major events of the week, things could have been so much worse.Cryptocurrency daily market performance snapshot. Source: Coin360The top-ranked cryptocurrency by market cap held its ground as KuCoin revealed more than $150 million worth of assets had been stolen from the exchange, and the price only stumbled slightly as the CTFC announced that legal action was being taken against BitMEX exchange.The price again avoided collapse when DOW and S&P 500 futures took a hefty drop upon the announcement that U.S. President Donald Trump had contracted the coronavirus.In the past, just one of the above events would have easily tanked Bitcoin price by at least 10% and as his...
What is the Santa Claus Rally (And How You Can Take Advantage of It)
Strategy, Suggested, Technical Analysis

What is the Santa Claus Rally (And How You Can Take Advantage of It)

The Santa Claus rally refers to an increase in stock prices that occur in the last week of December and the first few trading days in January. The term was first introduced in 1972 by Yale Hirsch, a market analyst who identified the recurring pattern of rising stock prices around New Year.Since trading volume around Christmas and New Year is among the lowest compared to the rest of the year, it’s no wonder that markets tend to have unique characteristics during those days.Here, we’ll explain what Santa Claus rallies are, how they occur, and how active traders can take advantage of them.Why Do Santa Claus Rallies Happen?The fundamentals behind Santa Claus rallies are still unclear and there are numerous explanations for why stock markets rise during the holiday season. Here’s a list...
Breaking: US President Trump hospitalized
Forex

Breaking: US President Trump hospitalized

US President Trump has been taken to the Walter Reed Military Medical Center, according to several news feeds, amid having a fever.After early tweeting that he and wife Melania contracted COVID-19, the US President was reported to have "mild symptoms." Concerns about his health mounted throughout the day after over 15-hours of Twitter's silence.The dismal sentiment triggered by the news and the absence of details on his condition were overshadowed by hopes for a stimulus aid package, ahead of Wall Street's close.White House´s spokeswoman said that Trump remains in charge, and that his powers have not been transferred to Pence, who tested negative.The news came with markets closed and is quite negative. Weekend developments awaited.Credit: FX Street