KCG Hotspot's August Forex volumes come in at $28 billion per day, down just 2% from July. As compared to an 8% month-on-month volume decline in August at the other Forex ECNs (Thomson Reuters, FXall, and ICAP's EBS), KCG Hotspot reported August average daily volumes of $28.0 billion -- down just 2% from July. We should…
Read moreState Street, GFI, and MarketAxess join Tradeweb and Bloomberg as the first SEFs granted. The CFTC has announced the granting of three more SEF licenses to State Street (via subsidiary SwapEx LLC), GFI, and MarketAxess. The three new licensees join Tradeweb Global (which actually received two separate licenses), and Bloomberg, as the only firms to successfully receive…
Read moreUK Spreadbetting company ETX sets up Twitter greymarket with $10.5-$11.5 billion valuation spread. LeapRate Exclusive... Forex and spreadbetting traders are very familiar with the power of social networking, so it is no surprise that Forex brokers are going to harness the popularity surrounding Twitter's just-announced IPO to attract traders. The first? UK spreadbetting firm ETX…
Read moreThe majority of Alpari Group's trading volumes come from Russia. So far, August volume metrics reported by both retail forex brokers and institutional forex trading venues seem to be very hit and miss. By that, we mean that some firms are seeing the typical summer-break slowdown in forex trading, while others are (somewhat surprisingly) seeing…
Read moreDeal with Forex Online Changer will allow locals to deposit Indonesian Rupiah and trade in US$. Cyprus forex broker ForexTime (also known as FXTM) has announced a deal with local Indonesian online payments company Forex Online Changer, which will allow Indonesian traders to deposit IDR (Indonesian Rupiah) and trade in USD. The service will be commission…
Read moreBank for International Settlements reports more FX industry concentration; and 33% growth since 2010.
Read moreFourth month in a row of volume decreases for Monex, after a fast start to the year. It is probably just a summer slowdown, similar to the 27% decline in August volumes seen at GMO Click, but a fourth consecutive month of volume declines at Monex Group are potentially worrying. The mid-sized Japan forex…
Read moreTradefair asks its clients to switch to GFT UK, which is in process of being acquired by Gain Capital. Things keep going from bad to worse at UK spreadbetting firm London Capital Group (LON: LCG). After switching CEOs twice this year, enduring acquisition rumors which fizzled out, and reporting disappointing first half results, now comes…
Read moreFXCM total volumes stay above $500 billion for fifth month running, with institutional FX volumes up 3x over last year. Leading retail forex firm FXCM, a member of LeapRate's Approved List of global regulated FX brokerage firms, announced that August Forex trading activity came in a total of $517 billion -- $307 billion in FXCM's…
Read moreAlex Ekdeshman and his company Paramount Management LLC used the vast majority of customer funds for business expenses. The CFTC has announced that it has obtained a federal court order against Alex Ekdeshman of Holmdel NJ and his company Paramount Management LLC, requiring $1.1 million in restitution to their defrauded customers plus a $1.3 million monetary…
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