January 15, 2015 BY Mike Fox

IG Group facing up to £30 million loss from Swiss Franc fireworks

The Financial Times is reporting that global brokerage house IG Group said that it could face a hit of up to £30m ($45m) after the Swiss franc shot up near 30% and settled near parity with the euro following the Swiss National Bank's decision to remove its longstanding exchange rate peg of 1.20 EUR/CHF. An…

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January 15, 2015 BY Mike Fox

Gain Capital's Forex.com halts trading in Swiss francs

Reuters is reporting that Gain Capital (NYSE: GCAP) today has suspended trading in Swiss francs due to the surge in swissy volatility after the Swiss National Bank unexpectedly abandoned the currency's exchange rate cap against the euro. "We're just waiting for our liquidity providers to come back and say they will provide liquidity again," said Kathleen…

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