2009-06-03: Forex Magnates Daily Updates

Photo: Michael Greenberg

Chairman Gary Gensler Announces the Appointment of Dan Berkovitz as General Counsel http://www.cftc.gov/newsroom/generalpressreleases/2009/pr5664-09.html
ANZ Banking Group Ltd will open a bank branch in China’s southern city of Guangzhou after gaining approval from the China Banking Regulatory Commission http://news.smh.com.au/breaking-news-business/anz-gets-ok-for-guangzhou-forex-branch-20090603-bvfh.html

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Q8 Trade Gains Recognition for ‘Most Trusted Trading Platform in MENA’Go to article >>

Credit Suisse, NSX, Currenex Describe Low Latency Projects. Credit Suisse is able to execute round-trip trade order latency is within 300-350 microseconds. http://www.wallstreetandtech.com/data-latency/showArticle.jhtml?articleID=217701333
The Newest Ruse: Banks Capitalizing on “Toxic Assets” to Book Puffed-Up Profits. JPMorgan Chase & Co. (NYSE: JPM), Bank of America Corp. (NYSE: BAC) and PNC Financial Services Inc. (NYSE: PNC) will reportedly be booking as much as $56 billion in windfall profits using similar financial chicanery in the months ahead. http://www.moneymorning.com/2009/06/02/banks-toxic-assets/
FXCM and Saxo should keep an eye on Dubai: Are new securities laws on the way in the UAE? http://blogs.thenational.ae/in_the_black/2009/06/are-new-securities-laws-on-the-way-in-the-uae.html
LiteForex opens a representative office in the third largest city in Nigeria. http://www.prlog.org/10249561-first-liteforex-representative-office-is-open-in-africa.html