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Swissquote publishes strong results for first 9 months of 2011 - Forex volume up
- In line with its semi-annual report Swissquote continues to see healthy growth in its results. Swissquote fulled merged ACM operationally and into its books and as expected it fuels its growth. Swissquote's eForex numbers are up on all parameters. Swissquote's volume is up 7.3% to CHF 36.53 Billion a month however dollar value is down to $41.54B due to exchange rates. eForex assets are up to CHF 130.4 million and client accounts are up 5.7% to 10, 464 accounts at the end of September 2011.
Friday, 04/11/2011 | 09:35 GMT by
Michael Greenberg
Central Bank of Philippines shielding speculation in the Peso
- The central bank said on Friday it has increased banks' capital provisions for non-deliverable forward (NDFs) positions, a move aimed at tackling speculation that heightens volatility in the foreign exchange market.
Friday, 04/11/2011 | 07:23 GMT by
Adil Siddiqui
Admiral Markets to launch 4th Round of its ForexBall competition
- Admiral Markets is about to launch the 4th round (out of 4) of its ForexBall forex trading competition. This one is an interesting concept as through several rounds it allows traders to participate and earn awards more than once. There's also an additional round just for winners - with bigger prizes.
Thursday, 03/11/2011 | 11:47 GMT by
Michael Greenberg
Who you gonna call....? eff exx - A new Tax on FX to save the world
- Financial markets are getting tough criticism from here, there and everywhere. The new Dodd Frank rulings, Tobin Tax and now a new proposal by the UN's development agency to tax foreign exchange as it can help reduce global poverty.
Thursday, 03/11/2011 | 06:41 GMT by
Adil Siddiqui
Federal Court Orders Charlotte, NC, Couple and Their Companies to Pay $24 Million for Defrauding Customers in Forex Ponzi Scheme
- Washington, DC – The U.S. Commodity Futures Trading Commission (CFTC) today announced it obtained a federal court supplemental consent order requiring defendants Sidney S. Hanson, Charlotte M. Hanson, and their companies, Queen Shoals, LLC, Queen Shoals II, LLC, and Select Fund, LLC, to pay $24 million in restitution and civil monetary penalties for defrauding customers and misappropriating millions of dollars in a foreign currency (forex) Ponzi scheme (see CFTC Press Release 5689-09, August 7, 2009).
Wednesday, 02/11/2011 | 12:34 GMT by
Michael Greenberg
Binary Options - Overview of the industry in Q3 2011
- I’ve been always fascinated with the emerging binary options market – mainly because it’s a very simple trading instrument and technology is readily available. At first I thought it would be just another trend of many which will end up being a marginal part of the online financial trading business. Recent developments have proven me wrong.
Wednesday, 02/11/2011 | 11:20 GMT by
Michael Greenberg
FX Fund Manager faces CFTC fine
- The CFTC has obtained a federal court order requiring Rodney Whitney, Nicholas T. Cox, and Integra Capital Management to pay over $6.9 million in restitution, disgorgement, and civil monetary penalties. The unregistered Commodity Pool Operator (“CPO”) and its two APs were found by a U.S. District Judge to have defrauded investors through a commodity pool Ponzi scheme involving commodity futures and over-the-counter foreign exchange (“forex”) transactions.
Wednesday, 02/11/2011 | 06:29 GMT by
Adil Siddiqui
Strengthening FX regulations in Russia
- Russia, the world’s eleventh largest economy and part of the famous Bric’s pact has been discussing regulations in derivates trading in a recent money market forum in Moscow. Russia has developed its free market economy post Soviet divide; it now boasts liquid stock and derivatives exchanges for both retail and institutional investors.
Tuesday, 01/11/2011 | 13:20 GMT by
Adil Siddiqui
CFTC-SEC Statement on MF Global, hundreds of millions of client funds may be missing
- This story just keeps getting 'better' - since yesterday's post about MF's possible sale, MF has declared bankruptcy and was trying to be bough by IB. However the deal doesn't seem to go through as there are suspicions that huge amount of client funds is missing.
Tuesday, 01/11/2011 | 13:18 GMT by
Michael Greenberg
NFA finalizes several new rules - requires more reporting, governs US forex M&A deals
- NFA has just published set of new rules it has been working on lately. The result is a daily, monthly and quarterly reporting requirement from brokers regarding client positions. NFA also reminds its members of certain key responsibilities and finally published set of rules governing situations of forex M&As - what happens when a US forex broker buys another one and there's a bulk transfer of accounts. This of course missed quite a few such deals we've witnessed this year such as Gain/CMS and Gain/dbFX.
Tuesday, 01/11/2011 | 09:24 GMT by
Michael Greenberg
MF Global may file for bankruptcy protection and sell to Interactive Brokers
- NEW YORK (Reuters) - Troubled brokerage MF Global Holdings Ltd was nearing a deal late on Sunday night to file for bankruptcy protection and sell assets to Interactive Brokers Group , media reports said.
Monday, 31/10/2011 | 11:38 GMT by
Michael Greenberg
Strong Start to 2022 for ICM.com
- This year, so far, has been big for the company.
Friday, 29/04/2022 | 10:41 GMT by
ICM.com
Saxo Bank launches aggregated FX Spot positions visual tool
- Saxo Bank has just released a new tool allowing anyone to see the aggregated positions of its clients across 10 forex currency pairs. The tool shows the relative size of position by USD value held by Saxo Bank clients in a selection of currency pairs, and the relative proportion of longs versus shorts by currency pair. It also shows aggregated positions at certain pip levels which may help clients learn of support and resistance positions. Tool also shows simple charts of those currency pairs.
Monday, 31/10/2011 | 09:28 GMT by
Michael Greenberg
Mankoff events continue to shed light on High Frequency Trading in FX
Thursday, 27/10/2011 | 22:56 GMT by
Adil Siddiqui
Gain Capital reports Q3 2011 Results - Net Revenue $53.9 million
- Gain just released its Q3 2011 results which show a solid increase in revenues and improvement in net income. Retail volume was almost unchanged from Q2 2011. Gain's institutional GTX platform is experiencing high growth and its volumes were $260 billion in Q3 - a little more than third of all Gain's volume.
Thursday, 27/10/2011 | 21:16 GMT by
Michael Greenberg
Fall of MF Global’s Jon Corzine (Part 1)
- Shares of MF Global plunged to $1.07 on Wednesday when the company reported its largest quarterly loss ever on Tuesday, ($191.6 million loss). Close to 90% of the market cap has vanished since former New Jersey Governor took over as CEO for Brokerage giant MF Global. On Monday Moody’s downgraded MF Global debt to just above junk status. As of Wednesday, the company's bonds were trading at an 18% yield underscoring a lack of investor confidence in Jon Corzine’s capacity to manage the company as CEO.
Thursday, 27/10/2011 | 11:03 GMT by
FMAdmin Someone
Trends, Analysis, and What Sets OneRoyal Apart
- Mouaz Hosni, Head of Market Analysis at OneRoyal, shares his thoughts.
Friday, 29/04/2022 | 08:15 GMT by
OneRoyal
AvaFX partners with ayondo - a new signal following platform
- It seems forex signal/trade following is the biggest trend now with just about everybody offering their own version of this - Currensee, Tradency, Zulutrade, FxStat, fxjunction, Collective2, eToro and dozens of other smaller services. Each of these providers has its own platform with or without social aspects, some offer signal trading, others actual traders following. Some platforms are very simple, others are advanced are professional. Today we see AvaFX (one of the fastest growing fx brokers) partnering with ayondo- a relatively unknown/new signal following service. ayondo seems to be a German venture and has also partnered with UK based ActivTrades.
Thursday, 27/10/2011 | 10:40 GMT by
Michael Greenberg
Massachusetts posts BNY Mellon internal emails - smoking gun is there?
- BNY Mellon and State Streep Corp are under increasing regulatory scrutiny for alleged overcharging of their institutional clients in forex transactions. Steven Grossman, Massachusetts State Treasurer, estimated that BNY Mellon overcharged the state’s pension fund by over $20 million, after additional analysis this figure now seems to be over $30 million.
Wednesday, 26/10/2011 | 17:21 GMT by
Michael Greenberg
CFTC Charges Linda Harris, Chance Harris and Two of Their Companies with Forex Fraud
- Linda Harris's name sounded vaguely familiar and I went through all my contacts and emails. And viola! in May 2009 (one month after FM's launch) I found an email exchange with Linda Harris who used the lharris@cdhgroupllc.com email and represented to me that she was a registered CTA offering Forex investment management via Managed Account Program and Forex Investment Advisory service. She also said that she used Advanced Markets for her Managed Accounts Program.
Tuesday, 25/10/2011 | 20:36 GMT by
Michael Greenberg
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