Latest
Bitcoin Picks: Seed Funding Draws Spotlight, Garza Issues Declaration over Paycoin
- The digital currency realm experienced its fair share of events this week, highlighted by a number of bitcoin firms undergoing new partnerships and a Blockchain-based startup raising $3 million in seed funding.
Saturday, 17/01/2015 | 22:01 GMT by
Jeff Patterson
Alpari UK Reverses Formal Insolvency Process Announcement, Considering a Sale
- The wild rollercoaster ride continues as Alpari UK Clarifies it has not entered a formal insolvency process "notwithstanding previous announcements." The Board of directors are "urgently" considering a sale.
Saturday, 17/01/2015 | 21:58 GMT by
Finance Magnates
FXCM Confirms Raising $300 Mln to "Stay One of the Largest Global Brokers"
- On the heels of a $300 million Leucadia National bailout, FXCM has confirmed that it has managed to ensure full financial stability to all its client accounts, after clients faced negative equity balances owed to the broker.
Saturday, 17/01/2015 | 20:03 GMT by
Jeff Patterson
Everest Capital’s $830 Million Capital Global Hedge Fund Wiped out Due to CHF Short
- Suffering a wipe out of their largest fund, Everest Capital's Global Fund closes following large losses after being short the Swiss franc prior to Thursday's SNB actions to allow their currency to appreciate.
Saturday, 17/01/2015 | 18:52 GMT by
Ron Finberg
When The Screens Froze: Black Swan Day through Traders’ Eyes
- While the news of the day no doubt focused on the looming finality surrounding key brokers, traders were also broadly affected by the snap SNB decision – did you strike it big, forget to place a stop, or consumed by greed?
Saturday, 17/01/2015 | 16:26 GMT by
Jeff Patterson
Is Your Broker Weathering the CHF Storm? Real Time Updates
- Thanks to a surprise shakeup from SNB, the FX industry has been placed in a state of flux with the playing field radically redrawn – consult Forex Magnates’ comprehensive broker list to see the state of each broker.
Saturday, 17/01/2015 | 14:35 GMT by
Jeff Patterson
Public Enemy #1? SNB’s Jordan Defends Shocking Decision That Roils FX Markets
- As the FX industry collects itself and prepares for a new week with the landscape significantly altered, many look to the man who convulsed currency markets, the Swiss National Bank’s (SNB) President Thomas Jordan.
Saturday, 17/01/2015 | 12:24 GMT by
Jeff Patterson
CySEC Issues Call to Cyprus Investment Firms for Assessment of Client Funds
- The collective dust is still setting following the turmoil instigated by the SNB earlier this week, prompting the Cyprus Securities and Exchange Commission (CySEC) to urge an assessment of Cyprus Investment Firms.
Saturday, 17/01/2015 | 11:37 GMT by
Jeff Patterson
BATS Global Markets Prospective Buyer of KCG Hotspot for $400 Million
- Securities markets operator BATS is allegedly in talks with KCG Holdings to purchase KCG Hotspot for $400 million in the aftermath of the bulk of the firm's talent leaving amid a restructuring ongoing at the ECN.
Saturday, 17/01/2015 | 06:00 GMT by
Victor Golovtchenko
Marketers Pounce on the Opportunity to Pinch Competitors' Clients during Times of Difficulty
- Forex and CFD brokers are looking to absorb clients from competing firms. Data from marketing channels shows that brokers are using interesting marketing phrases against brokers that have been affected by the CHF crisis.
Friday, 16/01/2015 | 21:59 GMT by
Adil Siddiqui
Banks Face Swissie Music - Citi Lost $150 Mln - Bloomberg
- Leading banks have been victims of the recent currency markets crisis according to Bloomberg. Reports suggest that Citi suffered a $150 million loss, with Deutsche and Barclays also in the limelight.
Friday, 16/01/2015 | 21:52 GMT by
Adil Siddiqui
Breaking: Leucadia Hands FXCM $300 Mln Life-Line
- US holding company, aka the baby Berkshire Hathaway, Leucadia National has given troubled forex broker-dealer FXCM a $300 million financing. The move comes after talks earlier in the day to support the broker.
Friday, 16/01/2015 | 20:49 GMT by
Adil Siddiqui
Tradeview Markets Emerges Unscathed, on the Prowl for New Business?
- Friday’s aftermath of the CHF volatility has heralded a death knell for several brokers, while helping reshuffle the playing field for the rest – all the while Tradeview Markets has survived and emerged out of the crisis with an eye on expansion.
Friday, 16/01/2015 | 18:34 GMT by
Jeff Patterson
ICE Futures Crosses New Record in EUR CHF Futures – Surpasses 199,600 Contracts
- The recent change in Switzerland’s core interest rate by the SNB has seen extreme market behaviour. The ICE Exchange brought a fresh layer of positivity reporting record volumes in the main EUR Swiss derivatives contract.
Friday, 16/01/2015 | 18:14 GMT by
Adil Siddiqui
The Foreign Exchange Market’s Black Thursday: Industry Losses May Surpass $1B
- The "Black Swan" day is swinging a big broom across the foreign exchange industry, reshaping it as we know it and preparing us for a slew of long-term changes after yesterday’s extraordinary market conditions.
Friday, 16/01/2015 | 16:29 GMT by
Victor Golovtchenko
Breaking: FXCM in Fire Sale Talks with Potential Buyers
- Forex Magnates has learned that FXCM is in talks with several private equity funds, as well as cash- rich brokers to complete either a partial or full asset sale or raise between $100-200 million by as early as Monday.
Friday, 16/01/2015 | 16:19 GMT by
Jeff Patterson
Interactive Brokers Suffers $120 Million in Client Losses, Trading Uninterrupted
- Interactive Brokers Group (NASDAQ GS: IBKR) joins a short list of brokers who suffered sizable losses yesterday at the hands of the SNB’s snap decision to abandon its currency peg, whose client losses are estimated at $120 million.
Friday, 16/01/2015 | 15:44 GMT by
Jeff Patterson
Vultures Out: Brokers Reviewing the Wreckage for ‘Groyse Metsia’ Acquisitions
- Forex Magnates has learned that some larger and well capitalized brokers are out making calls today about acquiring outright or purchasing a share of customer books to provide capital to struggling brokers.
Friday, 16/01/2015 | 14:49 GMT by
Ron Finberg
Daily Forex Market Update: USD/CAD Wakes up in Early US Session
- Our new guest contributor, John Putman II, accompanies us on a daily basis with his aphorism of the daily market, each time sharing with us a chart he prepares with the status quo of the currency pairs that are relevant to him.
Friday, 16/01/2015 | 14:40 GMT by
Guest Contributors
BMFN All Smiles as Business Continues as Usual
- Friday has been a house of horrors for FX brokers, which reached a climax when Alpari UK and FXCM collectively faced dire straights – conversely, BMFN has emerged out of the CHF maelstrom unscathed and is business as usual.
Friday, 16/01/2015 | 14:15 GMT by
Jeff Patterson
GAIN Capital Generated a Profit on the Forex Industry's Black Thursday
- GAIN Capital is another brokerage which is reporting to have in place a solid risk management framework which prevented it from being materially impacted by the Swiss National Bank's decision.
Friday, 16/01/2015 | 14:00 GMT by
Victor Golovtchenko
Dukascopy, FXTM an Oasis of Calm, FXOpen Resumes CHF Crosses
- The line in the ground today appears to differentiate between outright catastrophe (Alpari UK, FXCM) and the ‘business as usual’ mantra, with the majority of brokers falling into the latter, including FXTM and Dukascopy Bank
Friday, 16/01/2015 | 13:34 GMT by
Jeff Patterson
Bitfinex to Leverage Tether for Blockchain-Backed Fiat Transfers
Friday, 16/01/2015 | 13:00 GMT by
Leon Pick
FXCM Inc Shares Trading down 85% in Pre-Market Trading
- Credit Suisse and Citi issued downgrades on the shares of FXCM Inc this morning as the company and its peers across the industry are losing substantial amounts of market value in pre-market trading on the NYSE.
Friday, 16/01/2015 | 12:59 GMT by
Victor Golovtchenko
!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}