MONEX Inc releases annual results – commission revenue doubles, exchange-traded FX takes a tumble LeapRate

April 22, 2014 BY Andrew Saks-McLeod

MONEX Inc releases annual results - commission revenue doubles, exchange-traded FX takes a tumble

Despite MONEX Inc having doubled its brokerage commission revenue compared with the previous financial year, its overall revenues and net income during the initial part of 2014 is the lowest since early 2013. MONEX Inc, a major wholly-owned subsidiary of Japanese giant MONEX Group, has today released its financial results for the fiscal year ended…

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April 21, 2014 BY Andrew Saks-McLeod

Her Majesty goes hi-tech, presents Gold-i with Queen's Award for Innovation

Gold-i receives the Queen's Award for innovation, CEO Tom Higgins to attend reception at Buckingham Palace Ordinarily, it is widely recognized in the FX industry that all awards are completely bogus and are provided to companies in return for some other consideration. On this basis, LeapRate avoids all mention of awards whether they are provided…

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April 18, 2014 BY Andrew Saks-McLeod

Once bitten, twice shy? Will MtGox creditors lend a hand to potential investors?

In its quest to revive the ill-fated Japanese bitcoin exchange, the high-profile investment group interested in purchasing it resorts to the unorthodox method of seeking the assistance of MtGox's creditors Following the announcement last week that a group of investors is seeking to revive bankrupt Bitcoin exchange MtGox, a website has been launched in order…

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April 18, 2014 BY Andrew Saks-McLeod

European FX firms likely to escape clearing obligation under ESMA

ESMA Chair Steven Maijoor has inferred that it is unlikely that FX trades will be subject to clearing requirement as EMIR and MiFID II draw closer. The question as to whether Europe will impose institutional-style FX trade clearing and reporting measures on retail FX firms was indeed a matter for many FX firms to consider…

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April 18, 2014 BY Andrew Saks-McLeod

Derivatives trading at Moscow Exchange resumed at 23.00 yesterday

An outage of just over one hour occurred on the Moscow Exchange derivatives market yesterday. Will confidence be affected? Derivatives trading at Moscow Exchange (MOEX) resumed late yesterday evening after an outage of just over one hour. The Russian venue did not elaborate as to the reason for the disruption, which occurred at 21.43 local…

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April 17, 2014 BY Gerald Segal

Moscow Exchange suspends derivatives market trading

Cause of suspension still unknown, nor when trading might resume. Moscow Exchange, Russia's largest securities exchange group, has made a terse announcement that it has suspended all derivatives trading for the time being. No reason was given, other than the ME stating that the cause of the suspension is being investigated, and that trading resumption time…

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April 17, 2014 BY Gerald Segal

EU: FX dealers won't face the added cost of having to clear some currency trades...yet

The unified bloc's executive European Commission is deciding whether part of the $5.3 trillion (3.15 trillion pounds) a day foreign exchange market should be legally defined as derivatives under the bloc's laws According to a report in Reuters, foreign exchange dealers won't face the added cost of having to clear some currency trades if the…

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April 17, 2014 BY Gerald Segal

Breaking forex news: KVB Kunlun issues Q1 profit warning

The Hong Kong retail forex broker expects to report a Q1 loss -- lower volumes, higher marketing expenses. It seems as though becoming a public company doesn't necessarily solve all problems for retail forex brokers. Hong Kong based retail FX broker KVB Kunlun (HKG:8077), which went completed its IPO last July on the Hong Kong…

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April 17, 2014 BY Gerald Segal

OANDA opens global marketplace tools site for retail forex traders

Featuring products developed by the broker and its partners, the OANDA Marketplace provides fxTrade clients with vetted tools and services Global FX brokerage OANDA, popular amongst retail traders, is to introduce today OANDA Marketplace – an online directory of tools, software, and products for self-directed investors to augment their trading strategies and to grow their…

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April 17, 2014 BY Gerald Segal

Bloomberg: Big banks fighting back against FX high frequency traders

Bloomberg claims that alternative Forex ECN ParFX was approached by banks asking if its technology could be applied to other asset classes. Interesting article today on Bloomberg we'd like to make our readers aware of, on the trouble big players in the currency markets have been having with high frequency trading -- which make up 30-35%…

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