Reading material for the weekend: CFTC, Integral, CMC, FxPro, Alpari, Traiana, CLS, IBFX, NFA

Reuters – CFTC to Unveil Position Limit Plan Dec 16. The U.S. futures regulator intends to unveil on December 16

  • ReutersCFTC to Unveil Position Limit Plan Dec 16.

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The U.S. futures regulator intends to unveil on December 16 its long-awaited revised plan to limit speculative positions held by commodity traders, a source with direct knowledge of the matter said on Monday. The Commodity Futures Trading Commission is grappling with how to set and police the controversial limits. Furthermore, due to its complexity there could be further delays, said another source closely monitoring the issue.

FX markets have come a long way. In the late 1980s and 1990s, the market resembled Stonehenge in that a few silos dominated the landscape. They were, in fact, the market. It was a very static affair with high barriers of entry and almost no difference in what the few banks offered. Today’s market looks more like our solar system’s asteroid belt. There are thousands of market participants that come in all shapes and sizes. They are independent but connected entities. Barriers to entry are low. As a result, the entire market is in a state of flux which fosters innovation. Customers have many choices and competition is strong.

The original banks are still around. I liken them to the planets; a small number of larger entities that still dominate the area around them but exert much less influence on the market at large. In FX, like in other markets before it, a number of forces came together to affect this change.

  • FxPro Wins Financial Times / Investors Chronicle Investment Awards 2010 – ‘Forex Provider of the Year’.

FxPro Financial Services Ltd (FxPro), a leading global retail broker in FX and CFDs, today announces it was voted ‘Forex Provider of the Year’ at the prestigious Financial Times / Investors Chronicle Investment Awards 2010 (FT/IC Investment Awards).

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  • CMC Markets live on SmartStream TLM OnDemand

SmartStream, the financial Transaction Lifecycle Management specialist, today announced that CMC Markets, a world leading financial spread betting, CFD trading and FX trading company, has gone live on TLM OnDemand, SmartStream’s SaaS reconciliation service.

  • CLS and Traiana talk up FX aggregation JV

CLS Group and Traiana, an ICAP company (IAP.L), announce that all eight founding member banks of the CLS Aggregation Service (CLSAS), a joint venture established to provide trade aggregation services to participants active in the over-the-counter FX market, have now gone live with the service.

  • Alpari Appoints Mark Davison as Global Head of Institutional Sales

The Alpari group (“Alpari”), one of the world’s fastest growing providers of online foreign exchange (“Forex”, “FX”) trading services, today announced the appointment of Mark Davison to Global Head of Institutional Sales. He was formerly Head of Institutional Sales EMEA at Forex Capital Markets.

  • IBFX Australia Chosen as Broker Partner for Buru; A Revolutionary Expert Advisor for Meta Trader 4

IBFX Australia Pty Ltd, one of the industry’s leading global providers of online forex trading, announced today an exclusive partnership with Buru.

  • NFA sanctions:
  1. On November 29, 2010, NFA issued a Complaint charging STONEHENGE CAPITAL MANAGEMENT LLC (SCM) and MICHAEL, STEVEN ALAN with using a misleading and inaccurate disclosure document and promotional material; failing to maintain adequate support for the performance information included therein; and failing to adequately supervise SCM’s operations, use of promotional material and performance calculations. SCM solely engaged in retail forex business.
  2. On November 29, 2010, NFA issued a Complaint charging CD CAPITAL MANAGEMENT INC (CDCM) with providing materially false information to NFA; soliciting and managing forex accounts without providing customers with an approved disclosure document; failing to list individuals as principals of the firm; and failing to supervise CDCM’s operations.
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