London, Hong Kong, Singapore and Abu Dhabi duke it out for Yuan supremacy With China’s Renminbi currency now solidly enshrined as the world’s #2 trade currency, further reforms to allow the Yuan to float are gaining steam. And, at the same time, the world’s leading financial centers are positioning themselves to become the leading places…
Read moreWill KCG sell more assets and/or businesses, or will it settle debts with cash on hand? KCG Holdings -- the company resulting from the merger of Knight Capital and Getco -- formally announced today it had repaid $100 million of its credit facility, mainly using the net proceeds from its $80 million sale of reverse mortgage…
Read moreRegistered commodity pool operator Arista LLC misappropriated $4.125 million from 39 investors The US Commodity Futures trading Commission (CFTC) has issued a press release informing the public about a federal court order that seeks over $22 million in restitution and fines from Abdul Sultan Walji and Reniero Francisco. They acted as principals for the registered…
Read moreVolumes at ICAP's EBS unit were up 3% from October, but at below $80B ADV times are slow at EBS. ICAP's EBS Forex ECN unit did not see a month below $120 billion trading (average daily volume) throughout the first six months of 2013. Since July, that figure has not been above $89 billion. November's…
Read moreVolumes on the social trading environment have quadrupled in only 14 weeks It’s been only a couple of months since Leverate has introduced its major upgrade to their social trading platform Sirix – the multibroker social trading network Sirix Community. Today they have announced the milestone that was achieved for the past 14 weeks. The…
Read moreA massive FX brokerage imposter being investigated by Canadian authorities after operating for more than 5 years The Financial Crimes unit of the Royal Canadian Mounted Police (RCMP) has uncovered a massive scheme that allegedly extracted millions of dollars from investors. The website InvestTechFX has been uncovered to impose as an FX broker while all of the deposited…
Read morecTrader and cAlgo might become indispensable for companies operating in different regulatory environments The company behind award winning trading platforms cTrader and cAlgo has announced that it will be rolling out the first technological solution that incorporates netted and hedged accounts in a single environment. Brokerages which operate in different regulatory environments will no longer…
Read moreWhile still higher than a year ago the trend is not reversing and volumes keep grinding lower The gradual pullback of Japanese retail investors form the forex market keeps on going. Volumes at the largest retail forex broker in Japan GMO Click have dropped by 12% in November to mark a decline to 52.2 trillion…
Read moreHowever volumes at the Japanese retail forex broker remain well below first half of the year levels. Continuing our theme of improving trading volumes in November, mid-size Japanese retail forex broker Monex Group (which also owns TradeStation and IBFX in the US), reported November average daily forex trading volumes of ¥110.6 billion, up 11% from October.…
Read moreThe currency dubbed ‘gold 2.0’ briefly traded above the price of its long term store of value competitor Yes, it has finally happened – gold has been dethroned as a store of value and an inflation hedge! Oh well, maybe it’s too soon to predict the doom of an age old currency such as physical gold…
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