Preview Mode
snb
FXCM and Alpari Adjust to New Reality as Prime Brokers Contract
- Citibank going after FX traders that could not cover negative balances post SNB crisis, ThinkForex acquiring Admiral Markets’ Middle Eastern license and a new breed of forex scams in this week's roundup.
Sunday, 22/03/2015 | 10:00 GMT by
Avi Mizrahi
Citibank Sues Two Traders for $25 Million over SNB Flash Crash Losses
- In contradiction to most of the retail FX trading world where brokers decided to "forgive" negative balances caused by the CHF crisis, Citibank is going after traders who did not have enough collateral at margin call.
Thursday, 19/03/2015 | 08:46 GMT by
Avi Mizrahi
FXCM Europe CEO Presents the CBIB Index ("Central Bank Is Bluffing")
- Brendan Callan, the CEO of FXCM Europe, is looking for the recent SNB crisis' George Soros and offers an inventive possible way to predict when another such central-bank-breaking event might occur.
Wednesday, 18/03/2015 | 14:08 GMT by
Guest Contributors
The Swiss National Bank Meeting Is Flying under the Radar
- General consensus is for the SNB to leave rates on hold as it awaits to assess the impact on the Swiss economy from its shock dropping of the EUR/CHF base at 1.2000 and the negative interest rates taken in January.
Wednesday, 18/03/2015 | 12:08 GMT by
Matthew Clark
FXCM Publishes Second-by-Second Account of "SNB Flash Crash"
- The NYSE listed broker blames institutional liquidity providers for its failure, does not explain why CHF leverage was not limited and believes its technology performed adequately in client's best interests.
Thursday, 12/03/2015 | 06:18 GMT by
Ron Finberg
CHF Crisis Revisited: How the SNB Decision Reshaped the Forex Market
- As the dust settles over the biggest crisis in two decades of retail OTC trading, our unique data suggests some interesting insight into how players all across the industry were, and still are, affected by the turmoil.
Wednesday, 11/03/2015 | 06:52 GMT by
Jeff Patterson
Stephonomics: When History Repeats Itself on The Trading Floor
- With 30 years of industry experience, our newest guest blogger Stephen A. Simonis provides a different angle on the market. Read his personal account of the day of the bomb, three decades before the one on January 15.
Tuesday, 10/03/2015 | 20:38 GMT by
Stephen Simonis Senior
IronFX Taken to Court and the Depth of Alpari UK Debt Is Revealed
- Forex Magnates spotlights the recent industry’s news you have to know about, including the details of FXCM's loan repayment and the effects of the CHF crisis at Citi's FX Prime Brokerage business.
Sunday, 01/03/2015 | 10:27 GMT by
Avi Mizrahi
IronFX CEO Markos Kashiouris Discusses Recent Company Developments
- As the allegations against IronFX by Chinese IBs reached the court in Cyprus, the firm's CEO Markos Kashiouris presented the brokerage's view on the case and recent developments in the industry.
Thursday, 26/02/2015 | 22:13 GMT by
Victor Golovtchenko
More Credit Contraction as Citigroup FXPB Closes Accounts
- The SNB crisis is still taking tolls: stating a review of its accounts "in the light of prevailing market conditions and service costs", Citi has confirmed that its FXPB unit has terminated customer accounts.
Monday, 23/02/2015 | 14:59 GMT by
Ron Finberg
On Negative Balances, Industry Practices and Terms & Conditions Habits
- While there is a case that retail investors need some degree of protection from extraordinarily volatile events on the marketplace, according to Victor Golovtchenko, they need to realize that trading comes with risks.
Wednesday, 11/02/2015 | 10:45 GMT by
Victor Golovtchenko
UBS Financial Statement: No Losses from Black Thursday but FX Margins Contract in Q4
- In its Q4 financial statement, UBS revealed that FX trading revenues remained flat with Q3 levels even as client trading activity increased during the quarter, signalling a drop in margins.
Tuesday, 10/02/2015 | 11:01 GMT by
Ron Finberg
Swiss Franc After-Effects Still in the Air, LCG Assesses Prime of Prime Solution
- Listed multi-asset currency and CFD provider, London Capital Group, is reviewing its prime of prime offering to institutional clients, according to Forex Magnates' sources. The review comes on the back of risk assessments across the industry.
Friday, 06/02/2015 | 18:57 GMT by
Adil Siddiqui
Chris Sacca, the $4 Million Negative Balance, The Salinger Group and Twitter
Tuesday, 03/02/2015 | 14:45 GMT by
Ron Finberg
ECB to Buy at Least €1.1 Trillion of Bonds, Justifying the SNB Decision Last Thursday
- Mario Draghi has taken out the bazooka once more, over-delivering on market expectations massively and prompting liquidation of EUR/USD longs in the aftermath of the announcement, EUR back at 1.15.
Thursday, 22/01/2015 | 14:52 GMT by
Victor Golovtchenko
Monex Group Reports Negative Balance Loss of over $1.3M from Swiss Franc Volatility
- Monex Group announces that their combined brands which include Tradestation and remnants of IBFX suffered client negative balances around $1.35 million following Swiss franc volatility last Thursday.
Monday, 19/01/2015 | 00:26 GMT by
Ron Finberg
Everest Capital’s $830 Million Capital Global Hedge Fund Wiped out Due to CHF Short
- Suffering a wipe out of their largest fund, Everest Capital's Global Fund closes following large losses after being short the Swiss franc prior to Thursday's SNB actions to allow their currency to appreciate.
Saturday, 17/01/2015 | 18:52 GMT by
Ron Finberg
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 $225 million. The losses put the broker in breach of some regulatory capital requirements which they are working on to cover.
Friday, 16/01/2015 | 05:11 GMT by
Ron Finberg
GAIN Capital and Plus500 Report ‘No Material Impact’ from Swiss Franc Volatility
Thursday, 15/01/2015 | 21:05 GMT by
Ron Finberg
Breaking: EUR/CHF Nosedives as SNB Abandons Floor, Freezing Trading Platforms
- Trading platforms at a number of brokerages go haywire, with prices on the EUR/CHF ranging between 1.02 and 1.17, for the time being there is no definitive information on where the Swiss franc is trading to the euro.
Thursday, 15/01/2015 | 09:53 GMT by
Victor Golovtchenko
See more
!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}