September 12, 2013 BY Gerald Segal
BIS Triennial FX survey – way off the mark on the Retail Forex Industry
Bank for International Settlements reports more FX industry concentration; and 33% growth since 2010.
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September 11, 2013 BY Gerald Segal
Monex Group Japan August FX volumes drop 3%
Fourth 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…
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September 11, 2013 BY Gerald Segal
Betfair's Tradefair dumps London Capital Group white label, LCG shares drop another 7%
Tradefair 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…
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September 10, 2013 BY Gerald Segal
What summer slowdown? FXCM sees record institutional FX volume metrics in August
FXCM 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…
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September 10, 2013 BY Gerald Segal
LeapRate Forex Fraud Watch – $2.4M fine to Alex Ekdeshman for forex ponzi scheme
Alex 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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September 10, 2013 BY Gerald Segal
A perfect 10? Gain Capital shares cross $10 line for the first time
Gain Capital (and FXCM) shares continue to march upwards, even as insiders sell. The capital markets seem to have fallen in love with the Retail Forex industry, and as Wall Street loves nothing more than a great momentum play it seems that (at least until now) nothing is going to slow it down. In NYSE…
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September 10, 2013 BY Gerald Segal
New Zealand cTrader / MT4 broker Trendoks gets CySEC CIF license
Forex brokers continue to flock to Cyprus as a base for EU operations. LeapRate Exclusive... It seems as though Cyprus has not lost any of its cache, as a desirable and respected destination for forex brokers looking for a beachhead in the EU market. LeapRate has learned that New Zealand / Russian forex broker Trendoks…
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September 10, 2013 BY Gerald Segal
Thomson Reuters (-6%) and FXall (-5%) see slight decline in August FX volumes
... however the Thomson Reuters / FXall combo seems to have overtaken EBS for leadership of the Forex ECN sector. After setting volume records in June, Thomson Reuters FX and its still-separately-run subsidiary FXall have reported forex volume slowdowns in first July and now in August as well. Thomson Reuters FX came in at $107…
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September 10, 2013 BY Gerald Segal
EBS August FX volumes are lowest in eight years
ICAP's Forex ECN unit EBS reports volumes of just $78.7 billion daily in August. The question for ICAP -- which after a strong start to the year for EBS volumes in January and February, has seen volumes drop off during an otherwise strong 2013 -- is whether this is just the summer doldrums, or an…
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September 09, 2013 BY Gerald Segal
Second (and third) SEF registrations approved for Tradeweb
Tradeweb Joins Bloomberg as the only granted SEFs, although several other applications are in process. The CFTC has announced the granting of an SEF license to Tradeweb Global (which actually received two separate licenses), making Tradeweb the second company, after Bloomberg, to successfully receive the designation. SEFs are the new trading venues mandated under the…
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