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Interbank FX becomes first U.S. broker to offer social network to clients
- I just received this press release from Interbank FX announcing the launch of IBFXConnect, their social trading network. I see forex social networks as the next battle ground for forex brokers to win over traders from other brokers. Congratulations to Interbank FX for recognizing this trend ahead of most other U.S. firms. I believe that we will see a shift in client profitability numbers to the upside as more and more traders start using the Copy Trade functionality (where new traders can copy the strategies of experienced traders).
Better hedging tools for Chinese corporates - FX Options and swaps to be traded onshore
- China's FX markets have been growing since the world's second largest economy has been exposed to FX risk with a massive rise in global exports in the last 20 years. The renminbi has been controlled by the central bank and had very little fluctuation. The Peoples Bank of China made minor changes in 2005 when it allowed the Chinese Yuan to float against the US dollar within a certain range.
by
Adil Siddiqui
India geared for Algorithmic Trading
- India's automated trading environment is growing rapidly. The bulk of volumes have been in top 50 stocks including Bharti Airtel, Reliance and Tata Consultancy Services. Volumes are estimated at around 18% with large institutional investors making up most of he transactions. India's markets are gradually developing infrastructure to compete with major financial hubs like Singapore where algorithmic trading makes up around 60% of daily volumes in equity markets.
by
Adil Siddiqui
SocGen FX increases market share on FXALL Q2 2011
- SGIB is keen to strengthen its FX trading arm. Over the last couple of years they have hired industry specialist from leading competitors like DB and BOAML. SocGen posted its Q2 figures earlier this week and they showed a 0.7% increae in FXALL's market share since Q1 2011.
by
Adil Siddiqui
CME boasts 6% increase in FX volumes YOY
- More positive news for FX volumes on the back of The Foreign Exchange Committee's summary since the last quarter. CME Group, the world's leading and most diverse derivatives marketplace, announced July volume averaged 12.7 million contracts per day, up 17 percent from July 2010.
by
Adil Siddiqui
CFTC Obtains Default Judgment and Permanent Injunction against David L. Ortiz, Goyep International and Royal Retuerns for forex scam
- Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced that Judge K. Michael Moore of the U.S. District Court for the Southern District of Florida entered an order of default judgment and permanent injunction against David L. Ortiz of Vero Beach, Fla., and his companies, Goyep International, Inc. (Goyep) of Vero Beach, Fla., and Royal Returns, Inc. of Hollywood, Fla.
CME Group Announces the Launch of New Yuan FX Futures Contracts
- Offshore Yuan trading is certainly becoming a hot topic lately. With many estimates that the Chinese government will slowly further loosen up the band for Yuan exchange rate many banks and brokers are becoming involved with various Yuan trading options. This opens way for both hedging and speculating.
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