Wendy Phillis will take over from Colin Smith, ICAP’s current Group Chief Risk Officer, who has decided to retire ICAP announces in an official press release today that it has appointed Wendy Phillis as Group Chief Risk Officer. Wendy will report to Ken Pigaga, Group Chief Operating Officer, and be based in London. She will join…
Read moreNew CySEC broker is granted a CIF license, but yet to go live The Cyprus Securities and Exchange Commission is reporting that they have granted a CIF license to forex broker registered under company name Harborx Ltd. license number 198/13 as of March 26, 2014. We do not know much on this broker other then…
Read moreEuropean financial regulators may consider the global FX giant fully immune from any penalties whatsoever as a result of assistance with inquries into the FX rigging probe The days when traditional banking practices in which customers paid for the service that they received on a per-transaction basis are a distant memory to most European corporate…
Read moreSafeCharge raised $126 million, all proceeds to the company, plans to pay out half of EBITDA in dividends. After successfully pricing its IPO earlier this week, payment processor SafeCharge (LON:SCH) had its first day of trading Wednesday as a public company. After pricing its shares in the IPO at £1.62, SafeCharge shares traded up slightly (by…
Read moreClose competition between Japan's major retail FX firms has not curtailed their performance over recent months After a year in which two notably large firms which gain their client base from the domestic market only, namely GMO Click Securities and DMM Securities experienced monthly volumes of over $ 1 trillion for a sustained period during…
Read moreAs Monex's FX trading volumes continue to dwindle, regional bank Shizuoka Bank buys Orix Corp's 20% stake in Monex for ¥24.4B ($237M). At a time when its FX trading volumes continue to fall (see chart below), mid-size Japan retail FX broker Monex Group (TYO:8698) is seeing a change at the top. Japanese regional bank Shizuoka Group is getting…
Read moreAmerican FX platform provider Molten Markets considers its new solution for fund managers to be the first innovation of its type for 18 years Many concerns have been raised about the transparency of FX execution recently, bringing about a market need for technology firms to keep pace with regulatory change and adapt their solutions accordingly as…
Read more30 to 35 percent of transactions on EBS, an electronic trading FX platform owned by ICAP Plc, are high-frequency driven A piece by Bloomberg today examines the shift of HFT strategies from the equities market into currencies. Fundamentals still drive the market over the short and long runs, though not quite in the minute to…
Read moreIndonesia's national financial markets regulator will not issue new licenses to FX firms. Will Australian firms reap the rewards? For a great many retail FX companies, the Asia-Pacific region is considered a land of tremendous opportunity. China was considered the mainstay of western FX firms' focus when channeling efforts toward the region, however as time…
Read moreCME’s FX futures volumes made a favorable increase in March compared to February's results CME Group, the world's leading and most diverse derivatives marketplace, today announced that March 2014 volume averaged 14.1 million contracts per day, up 13 percent compared with March 2013. Total volume for March 2014 was more than 295 million contracts, of…
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