China responds to Vietnam’s trading ban by opening its first FX trading center LeapRate

April 28, 2014 BY Andrew Saks-McLeod

China responds to Vietnam's trading ban by opening its first FX trading center

China 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…

April 28, 2014 BY Andrew Saks-McLeod

US criminal prosecutors head to Britain to investigate FX rate rigging allegations on foreign soil

US 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…

April 28, 2014 BY Gerald Segal

CMC Markets completes nice turnaround with EBITDA of £51 million, up 260%

But 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…

April 28, 2014 BY Andrew Saks-McLeod

Integral Development Corporation appoints former State Street executive as MD of Business Development and Sales

Richard 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,…

April 28, 2014 BY Andrew Saks-McLeod

Saxo Bank quells interest rate risk exposure on FX crosses

A clever approach to client retention by Saxo Bank as Forward Outrights of up to twelve months introduced Saxo Bank released a series of forward outrights on 115 crosses on Friday last week. With this addition, the company provides a trading environment which may well cater toward the more conservative trader who wishes to hedge…

April 25, 2014 BY Andrew Saks-McLeod

Drive toward on-exchange FX heads across the Atlantic as CME Europe prepares its launch

America's drive toward on-exchange FX spreads to Europe as CME Europe prepares to make its debut this Sunday, citing cost-efficient execution in light of imminent regulatory changes as driving factor On-exchange FX is has become a poignant program for some prestigious executing venues, some of which are aiming to offer exchange-traded FX to international traders.…

April 25, 2014 BY Andrew Saks-McLeod

Precious metals and FX grow closer as OMF selects Quotix to support multi-asset cTrader solution

Following the direction of a series of large banks which have recently integrated their precious metals desks into the same business unit as FX, New Zealand based brokerage OMF has selected Quotix to support its metals and FX platform provided by Spotware Systems The compatibility of precious metals trading alongside the highly liquid currency market…

April 25, 2014 BY Gerald Segal

Russia downgraded by S&P to near-junk status – good for Russia FX volumes?

The leading credit rating agency has injected more volatility into an already volatile situation. Global credit rating agency Standard & Poor's (or S&P for short) has downgraded its ratings of Russian foreign debt to BBB-, just one notch above 'junk' status, keeping its outlook negative. S&P backed its decision by continued capital outflows from Russia, as…

April 24, 2014 BY Gerald Segal

London Capital Group's 2013 Annual Report - looking to regain solid footing, planning for internationalization

Report states general confidence of the business has materially improved with challenges ahead London Capital Group Holdings plc (LON:LCG) which is authorized and regulated by the Financial Conduct Authority (FCA) in London released their 2013 annual report to investors this week. The report shows they believe their worst is behind them after a tough 2012…

April 24, 2014 BY Andrew Saks-McLeod

Gaitame Japan sees 25% decline in Q1 revenues

Gaitame parent Tradition, which also holds an interest in FXDD, reports overall 3% drop in revenue Compagnie Financière Tradition reported first-quarter consolidated revenue of CHF 221.6 million, compared with CHF 235.3m in same period in 2013, a decline of 5.8% at current exchange rates or 2.8% in constant currencies. For the same period, the Group’s…