The most popular stories on Finance Magnates over the past week showed the ever evolving situation in the global financial trading industry. Regulation in the U.S market are about to get even tighter but brokers are faced with new opportunities as volatility drives trading volumes up and new website branding options emerge.
On Monday, we reported that the NFA has submitted for the approval of the CFTC new regulations regarding its member’s information systems security programs. The plan includes measures meant to prevent identity theft and hacking, which the NFA says is needed in light of the almost daily news about information systems security breaches at U.S. businesses.
However, some of our U.S-based readers disagreed with the NFA’s stated intentions, interpreting these new regulations simply as further pretenses to fine members. The commenters stated that the regulations could push brokers to leave the U.S market altogether.
InterTrader for Sale?
On Tuesday, the bidding war over the former gaming giant bwin.party entered another stage, raising questions regarding the future of InterTrader as a potential target for a takeover after the eventual deal. The brokerage was established in 2010 as a spread betting company, later expanding to forex and CFDs.
Brokers have been reporting substantially higher trading volumes since the Chinese market turmoil erupted in August
InterTrader has been competing with a number of brokers in the main markets of bwin.party such as the UK, Germany, France and Spain.
HotForex extends partnership with Paris Saint-GermainGo to article >>
Exciting New Domains
On Wednesday, it was reported that the online trading industry will soon see the availability of new website top level domains that can be used for branding purposes after the most relevant .COM addresses are already taken.
To be launched in phases starting in October, Boston Ivy are bringing to market .FOREX, .BROKER, .TRADING, .SPREADBETTING and .CFD. Speaking with Finance Magnates, Boston Ivy explained that registration costs for the new domains will start at $58 and top at over $1000 for .FOREX.
Volatility is Rising
On Thursday, the European Central Bank (ECB) has downgraded economic growth and inflation forecasts, pressuring the euro and following up on a call by the International Monetary Fund (IMF) for major central banks to keep monetary policy accommodative.
Brokers have been reporting substantially higher trading volumes ever since the Chinese market turmoil was reignited in mid-August. In this analysis piece, Finance Magnates expects that the rising FX volatility in recent weeks is here to stay.
Dukascopy Shopping Around
On Friday, Dukascopy Bank put out a statement advertising the fact that it is on the lookout to acquire FX brokers. The company is keen to establish a physical presence in Australia, South Korea, South Africa and Canada.
Dukascopy also reported its results for the first half of the year, ending June 30, 2015, showing improved metrics due to strong business volume and market volatility. Specifically, the broker notes that total income is the best ever in the company’s history, and that operational expenses have been reduced.