Saxo Capital Markets Appoints Former GKFX Senior Exec as CFO

Saxo Capital Markets UK has appointed a new CFO, a regulatory filing with the UK Companies House shows. Mrs Diya Patel has been approved by the board as the senior finance executive at the firm after spending a bit over a year at London based GKFX.

Saxo Capital Markets is on-boarding a strong hire with extensive career experience at Alpari UK, where Mrs Patel spent almost 7 years in various senior roles. The new CFO will succeed Torben Jorgensen.

Mrs Patel was the CFO of Alpari UK at the time of the Swiss National Bank-induced crisis on January 15th 2015, when the foreign exchange brokerage was forced into bankruptcy after the losses of its clients trading the CHF exceeded the credit lines which the firm had with its 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.

After a lengthy bankruptcy procedure, the insured clients of the firm were compensated via the Financial Services Compensation Scheme (FSCS) and the rest via the company’s own client money pool, which was also affected by the SNB event to the tune of $22 million.

The unpredictable market conditions on the day of the SNB event materially affected a number of brokerages in the industry and strengthened the resilience of foreign exchange and CFDs brokerages which are now treating Black Swan Black Swan A Black Swan event is most commonly associated with an unforeseen calamity or event. In its most basic form, this event results in disastrous consequences for multiple parties, markets, or individuals and are characterized as extraordinarily rare in frequency, yet are seemingly predictable in retrospect. In the foreign exchange space, the most noteworthy of these events in recent memory was the Swiss National Bank (SNB) crisis which roiled currency markets back on January 15, 2015.During this in A Black Swan event is most commonly associated with an unforeseen calamity or event. In its most basic form, this event results in disastrous consequences for multiple parties, markets, or individuals and are characterized as extraordinarily rare in frequency, yet are seemingly predictable in retrospect. In the foreign exchange space, the most noteworthy of these events in recent memory was the Swiss National Bank (SNB) crisis which roiled currency markets back on January 15, 2015.During this in Read this Term events with special attention.

In light of the coming referendum in Italy regarding the country’s constitutional reform, some brokers are expecting substantial volatility. That said, traders might be in for a surprise once more due to the preliminary polls that are pointing that the NO side is going to win.

The markets might have priced in the vote and the impending market doom might not materialize - quite the opposite, after a NO vote, the markets could well rally in the aftermath of the removal of another uncertainty element.