... however that was off a weak August base. Year-over-year, EBS volumes are down 27%. Is this an indication of forex industry weakness during September, or indicative of problems specifically at ICAP and its EBS forex ECN unit? Our take? Probably a little bit of both. After August EBS volumes were at their lowest levels…
Read moreMonex volume metrics still well below January-June levels, but more than double last year. Monex Group of Japan, a mid-size Japanese forex broker which also owns TradeStation and IBFX in the US, reported September forex trading volumes which rose nicely from slower summer levels, but which were still well below what Monex saw during a…
Read moreCySEC issues 10 new CIF licenses during Q3, most all to binary and forex brokers. As we've written before, the EU-Cyprus bailout crisis and subsequent bank account 'haircut' which occurred this spring has not dampened traders' enthusiasm for engaging with Cyprus-based brokerages. And as such we continue to see a number of startup (and existing)…
Read moreAustralia's leading retail forex broker hires ex-ODL and FCStone exec to replace Quinn Perrott. LeapRate Exclusive... LeapRate has learned that AxiTrader, the largest retail forex brokerage in Australia, has gone outside the ranks and hired Alex Mackinnon as its new CEO (or in Australia-speak, its new Managing Director). Mackinnon replaces Quinn Perrott, who remains with…
Read more... although CME's volume metrics remain well below last year (-20%). CME Group, which runs the world's largest derivatives marketplace, announced that September FX futures volumes increased by 11% from August, averaging 825,000 contracts per day.On a year-to-year comparison, however, CME is running about 20% behind last year, when last September volumes topped 1 million contracts…
Read moreIs this payback for 4XP running "We're not in Cyprus" ads during the EU-Cyprus bailout crisis? Cyprus financial regulator CySEC has sent out a release warning investors against Forex Place Ltd (also known in the industry as 4XP), and their website www.4xp.com, stating that they are not and have never been licensed by CySEC. A…
Read moreCFTC gives Yieldbroker until November 1 to finalize its SEF application. While US financial regulators promised that they were going to be completely rigid and strict with the planned implementation of Dodd-Frank Act requirements such as that of SEFs, the exceptions keep coming. First, we learned that the CFTC is delaying enforcement of many of…
Read moreInvestors continue to cheer the combined prospects of the two Swiss forex leaders. Quick update as we continue to follow the Swissquote - MIG Bank acquisition.... It seems, as far as Swiss stock investors are concerned, that 1 + 1 is greater than 2. Swiss online broker Swissquote has seen its shares continue to rise…
Read moreOverall volumes on the Moscow Exchange were up 5% in September. Well it seems as if Russian traders decided to take an extra long summer break this year. September FX trading volumes on the Moscow Exchange were down 2% from August to total RUB 14.6 trillion (about $453 billion). However, as the Moscow Exchange continues…
Read moreSirix Community will allow traders to copy and follow all other members regardless of which brokerage firm they're with. Leading FX platform provider Leverate has introduced a major upgrade to its Sirix social trading platform. Until now, a broker using Sirix could create its own in-house social network, allowing traders to copy, follow, and view the profiles…
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