RBS Head of Spot FX heads for five month sabbatical after three years in the hot seat LeapRate

April 30, 2014 BY Andrew Saks-McLeod

RBS Head of Spot FX heads for five month sabbatical after three years in the hot seat

James Pearson takes five month break from duties after three years in leadership position, with reasons not divulged Royal Bank of Scotland's Head of Spot FX trading in Europe, James Pearson, is taking a five-month sabbatical, leading to a temporary restructuring of the bank's FX desk, RBS stated yesterday. Mr. Pearson had assumed his position…

April 30, 2014 BY Andrew Saks-McLeod

Meitan Tradition becomes wholly owned subsidiary of Tradition

Switzerland's Compagnie Financiere Tradition has today announced that it has purchased the remaining share of is Japanese joint venture partner Swiss interdealer broker Compagnie Financiere Tradition (CFT:SIX Swiss Ex) has announced today that after a long and successful partnership with its joint venture partner in Japan, Central Tanshi, both entities have agreed to reorganize the ownership…

April 30, 2014 BY Andrew Saks-McLeod

Hungary bears down on national banks - steps up FX capital adequacy requirements

Hungarian authorities continue to focus on capital adequacy as FX operations within banks become subject to incremental increases, set to reach 100% in 2017 Hungary, despite being a nation which does not have the highly developed financial markets structure of its immediate neighbors such as Germany and even Poland, has taken steps toward raising the…

April 30, 2014 BY Andrew Saks-McLeod

MONEX Japan creates MONEX Ventures to strengthen corporate VC efforts

MONEX Group rebrands its venture capital enterprise in a move to concentrate further on investing in innovative start ups, a timely move for the conglomerate which today reported increased revenue figures for the year ending March 31, 2014 Japanese FX conglomerate MONEX Group (TYO:8698) has today announced that it is strengthening its corporate venture capital effort thorough…

April 30, 2014 BY Andrew Saks-McLeod

CurrencyFair passes $1 billion in matched retail currency transactions

Founded by Aussies in Ireland, CurrencyFair looks to disintermediate FX transfers for retail clients Dublin-based peer to peer currency exchange CurrencyFair has broken the $1 billion mark in money matching transfers according to a report by the Irish Times yesterday. The firm considers this a milestone for the international transfers sector, a division of the…

April 29, 2014 BY Gerald Segal

Alpari UK posts $10 million loss in 2013

Alpari UK 2013 financial statements indicate flat revenues at £55.7M, a £6.3M net loss, £100M of client balances, and $97B average monthly volumes. LeapRate Exclusive... LeapRate has had an exclusive look at the just-filed 2013 financial statements of retail forex broker Alpari UK. The company posted a loss of £6.3M ($10.4 million) on revenues of £55.7M ($93 million) for…

April 29, 2014 BY Gerald Segal

IFC Markets introduces CNH trading with any currency pair thru PCI technology

IFC Markets provides its clients with Forex and CFD trading through its own-generated trading platform NetTradeX, which is available on PC, iOS, and Android. The platform is available in 15 languages. Recently, a significant demand has been presented towards China's currency Renminbi (RMB). The currency is traded both onshore and offshore, and when talking about…

April 29, 2014 BY Andrew Saks-McLeod

Britain's largest fund manager fined £18.6 million for adverse risk exposure to investors

Invesco Perpetual in receipt of hefty fiscal penalty as a result of the FCA having concluded that it did not comply with investment limits over 3 and a half year period Britain's largest retail investment management firm, Invesco Perpetual, has been issued a substantial fiscal penalty by the Financial Conduct Authority (FCA) as a result…

April 29, 2014 BY Gerald Segal

Simons Griffin Financial launches single electronic client platform globally

Huge undertaking by the end of this year, will have consolidated more than 30 platforms into one client offering Simons Griffin Financial today announces the roll-out of Simons Griffin Financial Markets, the firm's new multi-asset class trading platform, bringing pre-trade, trade and post-trade functionality onto a single platform for the first time. Debuting with a…

April 29, 2014 BY Gerald Segal

Asian Forex Championship 2014 by FXOpen registration is now open

The Forex trading competition is organized with the help of FXOpen, a leading MT4 ECN broker and a B2B liquidity provider, and it will officially start on the 5th of May The Asian Forex Championship 2014 sponsored by FXOpen will appeal to all who want to: Get high rewards: The Championship prize fund is USD…