FXCM: Operations Functioned Without Material Adversity from Brexit Volatility
- FXCM statement says it wasn't materially affected by today's Brexit volatility.
Online broker FXCM Inc., traded on the NYSE under ticker FXCM, today released an official statement following the extreme volatility that accompanied the United Kingdom’s Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term vote.
The firm said that its financial position remains solid and that its trading platform functioned normally, as per a special announcement from the company this Friday morning in the U.S.
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FXCM is happy with the risk management steps we took including our decision to gradually raise margins as we did heading into the vote.
No Material Adversity
FXCM said that its systems and operations functioned without any material adversity during Brexit.
Drew Niv, CEO of FXCM, added: “FXCM is happy with the risk management steps we took including our decision to gradually raise margins as we did heading into the vote.
Drew Niv
The FXCM Trading Station operated normally throughout the Brexit market volatility and we are extremely pleased with our Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term providers, our staff who worked through the night and our clients who continued to heed our warnings during these historical market movements.”
The announcement comes as volatility in financial markets rose to historic levels across a number of currency pairs earlier, coupled with a broad sell-off in indices in Asia, Europe, and now in the U.S, as the trading week comes to a close. Many indices in Europe had their biggest-ever one-day decline this historic Friday, June 24, 2016.
FXCM said that its risk committee will continue to monitor closely and hedge its exposure as it keeps margin elevated until it sees liquidity and market conditions normalizing, hopefully in coming days, as noted in the update.
Online broker FXCM Inc., traded on the NYSE under ticker FXCM, today released an official statement following the extreme volatility that accompanied the United Kingdom’s Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term vote.
The firm said that its financial position remains solid and that its trading platform functioned normally, as per a special announcement from the company this Friday morning in the U.S.
The new world of online trading, fintech and marketing – register now for the Finance Magnates Tel Aviv Conference, June 29th 2016.
FXCM is happy with the risk management steps we took including our decision to gradually raise margins as we did heading into the vote.
No Material Adversity
FXCM said that its systems and operations functioned without any material adversity during Brexit.
Drew Niv, CEO of FXCM, added: “FXCM is happy with the risk management steps we took including our decision to gradually raise margins as we did heading into the vote.
Drew Niv
The FXCM Trading Station operated normally throughout the Brexit market volatility and we are extremely pleased with our Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term providers, our staff who worked through the night and our clients who continued to heed our warnings during these historical market movements.”
The announcement comes as volatility in financial markets rose to historic levels across a number of currency pairs earlier, coupled with a broad sell-off in indices in Asia, Europe, and now in the U.S, as the trading week comes to a close. Many indices in Europe had their biggest-ever one-day decline this historic Friday, June 24, 2016.
FXCM said that its risk committee will continue to monitor closely and hedge its exposure as it keeps margin elevated until it sees liquidity and market conditions normalizing, hopefully in coming days, as noted in the update.