Thomson Reuters ex employee claims leaks to ultra-low-latency subscribers LeapRate

April 08, 2013 BY Gerald Segal

Thomson Reuters ex employee claims leaks to ultra-low-latency subscribers

Lawsuit brought by former TRI employee claims insider survey leaks. An interesting lawsuit brought against Thomson Reuters by former employee Mark Rosenblum claims that the bimonthly Thomson Reuters / University of Michigan Surveys of Consumers had a "tiered" release, giving certain "ultra-low-latency" subscribers to the survey a brief trading advantage, based on receiving the information earlier. Rosenblum's…

April 04, 2013 BY Gerald Segal

ICAP EBS reports FX volumes down 19% in March

Has EBS now lost its lead in the Forex ECN business to rivals Thomson Reuters and FXall? ICAP's Forex ECN unit EBS reported March FX trading volumes at $120.4 billion (average daily volume for the month), down 19% from February and down 2% from last year March. After two strong months to start the year, things slowed down at EBS in March.…

April 04, 2013 BY Gerald Segal

Monex Japan reports FX volumes down 28% in March

Japan's retail Forex brokers are having a hard time duplicating January and February's great start to the year. Monex Group, a mid-size Japanese retail FX broker, announced that March volumes came in at ¥126,613 million per day (about $30 billion in monthly volume), down about 28% from February's $41 billion in monthly volume. Still, one of…

April 04, 2013 BY Gerald Segal

CME Group FX volumes increase for the fifth month in a row

March FX volumes at CME come in at 1.072M contracts per day, up 0.5% from 1.067M in February. CME Group, which runs the world's largest derivatives marketplace, surpassed a near-record February with a (slightly) even better March. FX contract volumes (mainly Eurodollar futures contracts) traded at CME hit 1,072,000 per day in March, up 0.5%…

April 03, 2013 BY Gerald Segal

CySEC working to free client funds at Cyprus FX brokers

Central Bank of Cyprus has agreed to not haircut segregated bank accounts over €100,000, where the ultimate beneficiaries are small individual investors. LeapRate Exclusive... LeapRate has learned that Cyprus' financial regulator CySEC is working on behalf of licensed Cyprus investment firms, which include many FX and Binary brokers, to prevent the dreaded "haircut" on bank accounts…

April 03, 2013 BY Gerald Segal

Japan FX volumes down in March, but still strong

GMO Click did $694 billion of spot FX volume in March, down 17% from record February volumes. FX volumes continued to be strong during March in Japan, as the global risk-on trade combined with local "Abe-nomics" to keep retail traders interested in the currency markets. However volumes were down somewhat from February. Japan's largest retail…

April 02, 2013 BY Gerald Segal

UK's financial regulator FSA ceases to exist today

The UK breaks the FSA into two parts – the FCA, and the PRA. The UK's Financial Services Act 2012 goes into effect today, (technically yesterday, April 1 2013, but it was the Easter Monday bank holiday in the UK), whereby the UK's financial regulator the FSA is being broken into two parts -- the FCA,…

April 01, 2013 BY Gerald Segal

Spotware to launch cTrader open API

Spotware Connect will help third-party app developers to easily build their own cTrader systems. The FX platform market is becoming increasingly about openness, and allowing third party developers to come out with best-of-breed add-ons, apps and applications for traders and brokers alike. Spotware Systems, which develops the leading FX ECN platforms cTrader and cAlgo (clients include…

March 28, 2013 BY Gerald Segal

Dukascopy signs up Forex FS Australia as a White Label client

Australia's smaller FX brokers are scrambling to offload market-making, to avoid higher capital charges. Australia continues to be one of the hottest FX markets out there. The country's Forex and CFD sectors continue to grow and -- more importantly -- Australia is an important base for attracting clients in fast growing Asian markets, specifically China.…