2009-07-09: Forex Magnates Daily Updates

The Securities and Exchange Commission today charged New York-based broker-dealer Sky Capital LLC and six individuals involved in a fraudulent

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    The Securities and Exchange Commission today charged New York-based broker-dealer Sky Capital LLC and six individuals involved in a fraudulent boiler room scheme that raised millions of dollars from U.S. and UK investors who were then restricted from selling their stock, and their investments later became worthless.

  • U.S. will allow block trades in currency pair futures contracts from today (July 8). ICE already allows block trading in most of its financial products. There is a minimum block trade quantity which varies from contract to contract. This is based on the liquidity of a contract – less liquid products require a higher quantity threshold – and are determined by the Commodity Futures Trading Commission.

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    “We’ve had customer demand for FX blocks and FX EFPs [exchange for physicals],” said Ray McKenzie, head of futures product sales for the US at ICE.

  • For the second consecutive year, Interbank FX (IBFX.com), a worldwide provider of online foreign currency (Forex/FX) trading, today announced that it achieved top ranking at the inaugural MoneyAM Online Finance Awards in the “Best Online FX Provider” category and was also recognized as the “Best Online Education Provider,” which recognized the company’s groundbreaking program designed to give both novice and expert traders additional educational resources for trading at no additional charge.

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