brokers
Interactive Brokers Suffers $120 Million in Client Losses, Trading Uninterrupted
- Interactive Brokers Group (NASDAQ GS: IBKR) joins a short list of brokers who suffered sizable losses yesterday at the hands of the SNB’s snap decision to abandon its currency peg, whose client losses are estimated at $120 million.
Friday, 16/01/2015 | 15:44 GMT by
Jeff Patterson
Vultures Out: Brokers Reviewing the Wreckage for ‘Groyse Metsia’ Acquisitions
- Forex Magnates has learned that some larger and well capitalized brokers are out making calls today about acquiring outright or purchasing a share of customer books to provide capital to struggling brokers.
Friday, 16/01/2015 | 14:49 GMT by
Ron Finberg
Daily Forex Market Update: USD/CAD Wakes up in Early US Session
- Our new guest contributor, John Putman II, accompanies us on a daily basis with his aphorism of the daily market, each time sharing with us a chart he prepares with the status quo of the currency pairs that are relevant to him.
Friday, 16/01/2015 | 14:40 GMT by
Guest Contributors
BMFN All Smiles as Business Continues as Usual
- Friday has been a house of horrors for FX brokers, which reached a climax when Alpari UK and FXCM collectively faced dire straights – conversely, BMFN has emerged out of the CHF maelstrom unscathed and is business as usual.
Friday, 16/01/2015 | 14:15 GMT by
Jeff Patterson
GAIN Capital Generated a Profit on the Forex Industry's Black Thursday
- GAIN Capital is another brokerage which is reporting to have in place a solid risk management framework which prevented it from being materially impacted by the Swiss National Bank's decision.
Friday, 16/01/2015 | 14:00 GMT by
Victor Golovtchenko
Dukascopy, FXTM an Oasis of Calm, FXOpen Resumes CHF Crosses
- The line in the ground today appears to differentiate between outright catastrophe (Alpari UK, FXCM) and the ‘business as usual’ mantra, with the majority of brokers falling into the latter, including FXTM and Dukascopy Bank
Friday, 16/01/2015 | 13:34 GMT by
Jeff Patterson
FXCM Inc Shares Trading down 85% in Pre-Market Trading
- Credit Suisse and Citi issued downgrades on the shares of FXCM Inc this morning as the company and its peers across the industry are losing substantial amounts of market value in pre-market trading on the NYSE.
Friday, 16/01/2015 | 12:59 GMT by
Victor Golovtchenko
Saxo Bank's Risk Holds, as Low Leverage on CHF Pairs Enforced Since September
- Forex Magnates reached out to Steen Blaafalk, Chief Financial & Risk Officer at Saxo Bank A/S for his take on the recent fallout surrounding the SNB’s abandonment of its peg along with its impact on Saxo Bank.
Friday, 16/01/2015 | 12:12 GMT by
Victor Golovtchenko
CMC Markets, City Index Business Perseveres despite CHF Convulsion
- As market participants learn of the fate and casualties surrounding some of the industry’s biggest names in FX, other players such as CMC Markets have indeed survived the dilemma despite marginal losses.
Friday, 16/01/2015 | 11:38 GMT by
Jeff Patterson
IC Markets and Darwinex Soldier Forth despite Minimal Losses and Setbacks
Friday, 16/01/2015 | 10:52 GMT by
Jeff Patterson
Alpari UK First Major Casualty to CHF, LCG Group Facing up to $2.5 Million Losses
Friday, 16/01/2015 | 10:38 GMT by
Victor Golovtchenko
Alpari UK Confirms Insolvency Procedure, Client Funds in Segregated Accounts
Friday, 16/01/2015 | 10:18 GMT by
Victor Golovtchenko
“Business as Usual” at LMAX Exchange Following CHF Catastrophe
- Rampant volatility of the Swiss franc (CHF) has left brokers like FXCM and IG Group to incur substantial hits to their business – however, LMAX Exchange appears to be an oasis of calm, ensuring clients that it is “business as usual”.
Friday, 16/01/2015 | 10:17 GMT by
Jeff Patterson
ADS Securities Sees Record Trading Day, Calls for the Industry to Work Together
- Yesterday’s decision by the Swiss National Bank (SNB) convulsed the FX industry – however, ADS Securities’ Executive Managing Director Philippe Ghanem has seen this as an opportunity for the industry to work together.
Friday, 16/01/2015 | 09:54 GMT by
Jeff Patterson
FxPro 'Remains Solidly Capitalized' in the Aftermath of the SNB Debacle
Friday, 16/01/2015 | 09:12 GMT by
Victor Golovtchenko
Swissquote Sets Aside CHF 25 Million Due to Swiss Franc Volatility
Friday, 16/01/2015 | 06:54 GMT by
Victor Golovtchenko
OANDA and Pepperstone Issue “Business as Usual” Remarks
- While there undoubtedly was an effect from the Swiss National Bank dropping its EUR/CHF peg on the books of the companies, those have not been material when it comes to OANDA and Pepperstone.
Friday, 16/01/2015 | 06:24 GMT by
Victor Golovtchenko
FXCM Announces Massive $225 Million Client Negative Balance Hit Due to CHF Volatility
- FXCM is suffering an unprecedented capital hit due to client negative balances reaching $225 million. The losses put the broker in breach of some regulatory capital requirements which they are working on to cover.
Friday, 16/01/2015 | 05:11 GMT by
Ron Finberg
Swiss Currency Crisis Extends - FX Broker Excel Markets Forced to Close Shop
- New Zealand regulated broker-dealer, Excel Markets, has reported that it will be halting operations. The STP broker was unable to meet client losses held at its liquidity providers.
Thursday, 15/01/2015 | 23:49 GMT by
Adil Siddiqui
CHF Mishap Results in CFD Brokers Altering Their Margin Requirements on Swiss Share CFD
- CFD providers were forced to amend their margin requirements for CFDs on Swiss stocks. London-based CFD firm, Ayondo, increased the margin on Swiss equity CFDS to 10% as market volatility drove down prices.
Thursday, 15/01/2015 | 22:00 GMT by
Adil Siddiqui
GAIN Capital and Plus500 Report ‘No Material Impact’ from Swiss Franc Volatility
Thursday, 15/01/2015 | 21:05 GMT by
Ron Finberg
Dukascopy Bank Starts Offering CFDs to Its White Labels
Thursday, 15/01/2015 | 18:56 GMT by
Victor Golovtchenko
Industry Impact: Swiss Black Swan Storms through Currency Markets
- After the Swiss National Bank threw a bomb at the forex markets once in September 2011, today it has done it again, causing a Black Swan event of epic proportions, which could prompt a number of industry-wide changes.
Thursday, 15/01/2015 | 16:23 GMT by
Victor Golovtchenko
Breaking: IG Group Facing Losses up to £30 Million, Tip of Industry CHF Volatility Losses?
- The first brokerage to publicly announce unforeseen losses from the extreme volatility event after this morning's Swiss franc debacle induced by the SNB, was London Stock Exchange listed IG Group.
Thursday, 15/01/2015 | 14:33 GMT by
Victor Golovtchenko
Flash Crashes, Important Reminders and Daily Market Update
- We are happy to launch a daily series with our latest guest contributor on board, FX Analytics' John Putman II. John will share his analysis providing both live updates and his own insights about the market.
Thursday, 15/01/2015 | 14:29 GMT by
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