Currency Futures |

Swiss Regulator Shuts Down `Fake Cryptocurrency’ Firm E-Coin

LAGOS (Capital Markets in Africa) – Financial Market Supervisory Authority closed unauthorized providers of “fake cryptocurrency” E-Coin after the company accepted millions of francs in public deposits without holding a banking license, Finma says in statement. Finma started bankruptcy proceedings against legal entities involved Quid Pro Quo has been issuing E-Coins and ran an online trading platform together with Digital Trading AG and Marcelco Group AG The three entities accepted funds amounting to at least…

Nigeria | Naira Devaluation Bets Jump Most on Record on Policy Review

Posted on by The Editorial Team

LAGOS, Nigeria, Capital Markets in Africa: Traders raised bets on a devaluation of Nigeria’s naira by the most on record after the vice president of Africa’s biggest economy said it was carrying out a “substantial review” of its foreign-exchange policy. Naira three-month non-deliverable forwards weakened to 237 against the dollar, before paring losses to trade 7.2 percent lower at 230.5 by 12:41 p.m. in London, still the biggest drop since the contracts started trading in March 2011….

Nigeria Bourse Seeks to Start Trading Naira Currency Futures

Posted on by The Editorial Team

Lagos, Nigeria (Capital Markets in Africa) — The Nigerian Stock Exchange plans to start trading naira futures that will help investors hedge against movements in the local currency, Chief Executive Officer Oscar Onyema said. “It would be awesome if we had a naira-dollar contract that we could trade on the exchange,” he said in an interview in London on Monday. “Futures and options are asset classes that we think would be very beneficial to foreign…