Saxo Bank continues worldwide expansion, this time in Latin America. Saxo Bank, a member of LeapRate's Approved List of global Forex firms, today announced that it is acquiring its Uruguay-based white label partner NVN Securities. NVN is licensed by the Uruguayan Central Bank, and has been a White Label client of Saxo Bank since 2006.…
Read moreGives FXCM flexibility to raise public equity or debt. Leading retail FX firm FXCM, the world's largest online FX broker (and a member of LeapRate's Approved List), filed a prospectus with the U.S. Securities and Exchange Commission (or "SEC") which will allow FXCM to issue up to $125 million in equity and/or debt securities in the…
Read moreFX volumes rising nicely, but have a long way to go. As we have seen with other FX product aggregators such as Thomson Reuters and the CME Group, volumes at Forex ECN ICAP-EBS saw a nice double-digit-percentage rise in September, but remain well below "normal" levels seen throughout last year. EBS's volumes rose by 17%…
Read more... but still remain well below last year's levels. Thomson Reuters announced their September FX ECN volumes at $133 billion per day -- 16% above August's anemic $115 billion, but still 24% below last year September's $176 billion, and the $150B+ monthly figures seen throughout most of 2011. We are seeing a very clear pattern…
Read moreFirst peek at what looks like a good month for FX volumes. CME Group, which runs the world's largest derivatives marketplace, announced that FX contract volumes (mainly Eurodollar futures contracts) in its system were up by 42% in September from August to an average of 1.035 million contracts daily. That growth though is somewhat misleading,…
Read moreBarclays will white label FXCM for retail FX. LeapRate Exclusive: One overlooked item from last week's announcement that Barclays will be white-labelling FXCM for its retail FX offering (to be offered in the UK only) was that Barclays ended its previous partnership with Integral in favor of the new one with FXCM. Barclays' statement on…
Read moreHotspot FX would likely fetch $150-200 million. In comments made to reporters on the sidelines of a Security Traders Association conference on Friday, and reported by Reuters, Knight Capital CEO Tom Joyce said that the company is unlikely to shed any of its major business units -- which include Forex ECN Hotspot FX -- as Knight looks…
Read moreLow Volatility + Vacation = Slow Summer for FX trading. LeapRate's Retail FX Volume Index, sponsored by Leverate, fell by 5% in August to $167 billion per day from $175 billion in July. Note that July's figures were off 10.5% from $196 billion daily in June. August's figures represented the slowest month for FX trading in 2012…
Read moreGaitame only doing about $30 billion of monthly volume / $28M annualized revenue. Swiss-exchange listed Compagnie Financière Tradition SA (or "Tradition"), controlled by France's Viel & Cie, owns 49.5% of Gaitame, one of the largest Japanese Forex firms. In its 2012 first half results release, Tradition reported that revenue at Gaitame fell by 4% in…
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