Tracy McDermott has categorically stated that spot FX does not fall under FCA remit, having come to light after it emerged that some of the traders being investigated for FX rate rigging were not registered yet worked for major financial institutions A great many retail FX firms have invested vast resources in gaining the much-coveted…
Read moreDeutsche Bank is the world's largest forex trading bank According to Reuters, Deutsche Bank's global head of forex trading will leave in June, Germany's biggest lender and FX trading bank said on Monday, confirming a report in Handelsblatt newspaper. "Kevin Rodgers has made a personal decision to retire from the industry to pursue other ambitions…
Read moreLast year the BIS listed Singapore as the largest FX center in Asia and the third biggest in the world; now it has overtaken London in offshore RMB clearing, which until now was number one... Back in March we reported that the top offshore RMB hub remained London (excluding Hong Kong and Mainland China) but…
Read moreAims to unify the FX and precious metals markets risk management system with those of other exchange markets Moscow Exchange news room announced today that their Forex and precious metals markets risk management system will be modified from April, 28 2014. Two concentration limit levels and several levels of the market risk limit rate will…
Read moreSwiss FX bank Dukascopy channels its efforts further toward mainstream media, launches instant messenger to rival WhatsApp The age of media and communication via digital messaging has become an essential component within the electronic trading industry. One particular company, Swiss FX bank Dukascopy, is a pioneer in the use of digital media and video, and…
Read moreThe US Commodity Futures Trading Commission has begun to monitor steps taken by US banks which allow them to trade swaps with foreign entities which fall outside the Dodd-Frank rulings The main U.S. derivatives regulator has begun monitoring the latest effort by Wall Street banks to avoid U.S. swap-trading restrictions by restructuring their overseas trading…
Read moreChina opens pan-Asian FX trading center in radical response to Vietnam's outlawing of retail FX trading, representing the first FX trading center on the mainland. Following the draconian stance which Vietnam's strictly socialist government took recently which resulted in the banishing of all FX trading from its shores, an unusual occurrance has taken place in…
Read moreUS criminal prosecutors have arrived in London to interview individuals away from domestic territory as government investment in the rate fixing case extends overseas The United States criminal justice system is well renowned for ensuring that potential wrongdoings are put right, even if the alleged perpetrators are overseas. Yesterday, forming the most recent development in…
Read moreBut it appears that revenues were down (again) at CMC, after a 21% revenue drop last year. CMC Markets founder Peter Cruddas, who re-took the reigns as CEO in early 2013, has overseen a nice overhaul of the business and its return to profitability, but is still facing falling revenues. UK spreadbetting and forex brokerage…
Read moreRichard K Farrell joins Integral Development Corporation at senior level, bringing his extensive experience of electronic trading platforms to the company FX technology company Integral Development Corporation has announced today that former State Street Bank executive Richard K. Farrell has joined the firm as Managing Director of Business Development and Sales. In his new position,…
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