Getco likely to divest Knight's non-core assets, including Hotspot FX. Although it has not yet been formally announced, sources close to the situation (and as reported by CNBC) reported that Knight Capital's board will select Getco's offer to buy the company, after Getco raised the cash portion of its bid to $3.60 per Knight share.…
Read moreCySEC licenses two new retail FX brokers this week. After we reported that Alpari founder Andrey Dashin was behind ForexTime, which just got a CySEC CIF license and which will soon launch a new retail FX brand (note that Dashin remains a shareholder in Alpari), comes word that CySEC has granted yet another license to a…
Read moreFigures reported were for Alpari Russia only, not entire Alpari Group. Our article Monday entitled Alpari volumes drop to $85 billion covering Alpari's press conference and press release regarding some of its 2012 figures reported that the numbers discussed -- specifically $85 billion in monthly trading volume -- were for the entire Alpari group. Alpari management…
Read morePhil Weisberg to head Thomson Reuters FX; Jas Singh leaving. One of the themes we've covered recently has been that it is becoming clear why Thomson Reuters bought FXall -- as Thomson Reuters has seen its leading position in the Forex ECN business erode, FXall has remained the one ECN actually doing more volume this…
Read moreFXCM sees best overall month for FX volumes since June. Leading retail FX firm FXCM, the world's largest online FX broker, announced its November trading activity levels, with retail volumes coming in at $305 billion for the month, and institutional at $90 billion. Comparatively (see chart below), retail volumes were down 6% as compared with October (but were…
Read moreLMAX lost another £4.5 million in the first six months of fiscal '13. LMAX's spinoff to management (backed by ex-Betfair Chairman Ed Wray) was certainly not unexpected, as we had blogged about Betfair's likely exit from LMAX just several days prior. But the value at which it was done, at a company valuation of just £3.6 million, with £2.4…
Read moreEx-Alpari execs founded ForexTime in New Zealand two years ago. New Zealand based ForexTime has just received a Cyprus Investment Firm license, and is planning on expanding its marketing activities in Europe. ForexTime was set up in New Zealand two years ago by former Alpari executives from Russia. ForexTime also, somewhat interestingly, has an office…
Read moreAlpari's last report of monthly volumes in November 2010 was $160 billion. Retail FX broker Alpari, which along with FX Club dominates the Russian FX market but also operates worldwide, held a press conference last week in Moscow and released some operating and financial data. The key metrics reviewed include: Monthly volumes in 2012 have…
Read moreAdvocates broker disclosure of Balance Sheet and Income Statement. LeapRate Exclusive -- LeapRate has learned that FXCM, the world's largest retail FX brokerage (and a member of LeapRate's Approved List of global FX firms) , has written a formal letter to the CFTC, encouraging the CFTC to implement several changes in its regulation of futures…
Read moreWill Hotspot FX soon have a new owner? Hotspot FX reported that volumes in its Forex ECN system fell in November to average $21.6 billion daily, down 5% from October's $22.7 billion -- and down 22% from last-year November's $27.9 billion. What's been interesting most of our readers though, it seems, is the future of…
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