ACM raises additional share capital, Swiss regulator keeps stalling
The shareholders of ACM (www.ac-markets.com), endorsed an additional capital raise of 10 million CHF during their latest general assembly.
This move comes amid an unexplained delay in the Swiss regulator’s approval process for local Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokerages. FINMA, Switzerland’s version of NFA and FSA for Forex, was formed at the beginning of 2009 and announced plans to overhaul the local thriving Forex industry. However with the exception of the liquidation of Crown Forex we haven’t heard much from them since. I’m not aware of any broker that was approved or denied by FINMA and we are already in Q4 near the years end.
This inactivity does not contribute a single thing to the Forex traders using the services of Swiss Forex firms as these firms themselves are in the blur regarding FINMA’s next steps or even timing. Without any doubt this led several firms to either abandon plans to open offices in Switzerland or completely move out of the country just like Tadawul FX recently announced (citing other reasons).
Continuing ACM's Press Release:
The capital increase raises ACM’s overall share capital to 30 million CHF; a move financed solely by existing shareholders. The step solidifies ACM’s place as the most capitalized Forex Broker Forex Broker In the forex space, a broker is any company that can provide traders with access to a platform that permits the buying and selling of multiple currencies.The retail forex industry has grown over the past two decades to include every major jurisdiction, which in turn has necessitated new regulatory oversight. Relative to the institutional sector, retail brokers are rather small portion of the greater forex market. However, traders can rely on brokers for leveraged trading in a 24-hour-a-day marke In the forex space, a broker is any company that can provide traders with access to a platform that permits the buying and selling of multiple currencies.The retail forex industry has grown over the past two decades to include every major jurisdiction, which in turn has necessitated new regulatory oversight. Relative to the institutional sector, retail brokers are rather small portion of the greater forex market. However, traders can rely on brokers for leveraged trading in a 24-hour-a-day marke Read this Term in Switzerland.
Reinforcing the framework surrounding the firm’s banking licence, the enlargement demonstrates ACM’s commitment to autonomy, strength and durability.
“The increase guarantees our independence while freeing ACM to dedicate further resources to both enlarging our investment offering and tackling new markets” said Lloyd La Marca, CEO and co-founder of ACM.
From its inception, ACM (www.ac-markets.com) has grown to meet the needs of its expanding client base – founded in Geneva, the company now maintains offices in Zürich, New York, Dubai and Montevideo. The Swiss firm offers efficient and affordable FX trading with no dealing-desk intervention to private individuals as well as institutional clients.
The shareholders of ACM (www.ac-markets.com), endorsed an additional capital raise of 10 million CHF during their latest general assembly.
This move comes amid an unexplained delay in the Swiss regulator’s approval process for local Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokerages. FINMA, Switzerland’s version of NFA and FSA for Forex, was formed at the beginning of 2009 and announced plans to overhaul the local thriving Forex industry. However with the exception of the liquidation of Crown Forex we haven’t heard much from them since. I’m not aware of any broker that was approved or denied by FINMA and we are already in Q4 near the years end.
This inactivity does not contribute a single thing to the Forex traders using the services of Swiss Forex firms as these firms themselves are in the blur regarding FINMA’s next steps or even timing. Without any doubt this led several firms to either abandon plans to open offices in Switzerland or completely move out of the country just like Tadawul FX recently announced (citing other reasons).
Continuing ACM's Press Release:
The capital increase raises ACM’s overall share capital to 30 million CHF; a move financed solely by existing shareholders. The step solidifies ACM’s place as the most capitalized Forex Broker Forex Broker In the forex space, a broker is any company that can provide traders with access to a platform that permits the buying and selling of multiple currencies.The retail forex industry has grown over the past two decades to include every major jurisdiction, which in turn has necessitated new regulatory oversight. Relative to the institutional sector, retail brokers are rather small portion of the greater forex market. However, traders can rely on brokers for leveraged trading in a 24-hour-a-day marke In the forex space, a broker is any company that can provide traders with access to a platform that permits the buying and selling of multiple currencies.The retail forex industry has grown over the past two decades to include every major jurisdiction, which in turn has necessitated new regulatory oversight. Relative to the institutional sector, retail brokers are rather small portion of the greater forex market. However, traders can rely on brokers for leveraged trading in a 24-hour-a-day marke Read this Term in Switzerland.
Reinforcing the framework surrounding the firm’s banking licence, the enlargement demonstrates ACM’s commitment to autonomy, strength and durability.
“The increase guarantees our independence while freeing ACM to dedicate further resources to both enlarging our investment offering and tackling new markets” said Lloyd La Marca, CEO and co-founder of ACM.
From its inception, ACM (www.ac-markets.com) has grown to meet the needs of its expanding client base – founded in Geneva, the company now maintains offices in Zürich, New York, Dubai and Montevideo. The Swiss firm offers efficient and affordable FX trading with no dealing-desk intervention to private individuals as well as institutional clients.