January 20, 2015 BY LeapRate Staff
Where will FXCM shares trade today?
Pre-market indications are that FXCM will start off at somewhere in the $2.50-3.00 per share range.
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January 20, 2015 BY LeapRate Staff
IG Group first half results - Revenues up 8%, outlook strong, but profit will be hit by Swiss Franc
IG Group Holdings plc (LON:IGG) has released its complete financial results for the first half of fiscal 2015 (IG has a May 31 year end). The results follow, and can also be seen here. We already reported that IG said the results will include record quarterly revenues for its fiscal Q2 (ended November 30, 2014).…
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January 20, 2015 BY LeapRate Staff
KVB Kunlun reports no progress on sale of the company
Nearly two months after it had first reported that an acquirer had emerged to make a HK$0.65 bid for the company, Hong Kong retail forex broker KVB Kunlun Financial Group Ltd (HKG:8077) has provided an update, and in truth it isn't much of one. KVB has made a further filing with the Hong Kong Exchange (HKEx)…
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January 20, 2015 BY LeapRate Staff
FXCM-Leucadia deal details - rising interest, forced sale after 3 years
The investment structure is somewhat complicated, but essentially Leucadia will get about half of the sale proceeds (or more) of FXCM beyond the $300 million it lent the company. And it can force a sale after three years.
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January 19, 2015 BY LeapRate Staff
Alpari UK formal statement on insolvency - company might remain intact
Alpari UK has issued a formal statement on its insolvency and entering administration by KPMG. As we posted earlier, Alpari UK applied for insolvency and entered administration after a frantic weekend search for an outside financial lifeline or acquirer of the company, which the company was unable to conclude - at least in time to…
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January 19, 2015 BY LeapRate Staff
Hotspot FX sees best ever volumes day at $61.7 billion on 'Swiss Franc Thursday'
It was not 'Black Thursday' for everyone in the Forex industry. In fact, for those companies such as ECNs which make their living solely off of volumes, it was a very good day. Hotspot FX has reported that FX trading volume metrics reached $61.7 billion last Thursday January 15 - its best ever day based…
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January 19, 2015 BY LeapRate Staff
Monex Group reports just ¥160M (USD $1.4M) of negative client balances, no Swiss Franc material impact
Japanese retail forex broker Monex Group, Inc. (TYO:8698) has released a statement indicating that it experienced no material negative financial impact from last week's Swiss Franc volatility. Monex did experience some clients with negative equity balances, but those totaled just 0.2% of the firm's assets, or about ¥160 million (USD $1.4 million) of negative balances. The…
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January 18, 2015 BY LeapRate Staff
Alpari UK denies acquisition by FXCM, talks continuing - LeapRate Exclusive
Talks still ongoing for a capital injection or takeover at Alpari UK, likely to be concluded tonight. FXCM: We are definitely not buying Alpari.
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January 18, 2015 BY LeapRate Staff
LeapRate Exclusive: Skrill suspending payouts to certain Forex brokers
LeapRate Exclusive... Continuing our exclusive coverage of all the fallout from the unparalleled Swiss Franc volatility on Thursday, LeapRate has learned from a number of retail forex brokers that online payments company Skrill (formerly Moneybookers) has temporarily suspended payouts to certain retail forex brokers. Skrill is keeping the accounts suspended over the weekend, and expects…
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January 18, 2015 BY LeapRate Staff
ETX Capital reports it is unaffected by Swiss Franc move
UK multi-asset broker ETX Capital has released a brief statement on its position following Thursday's mega-move in the Swiss Franc: ETX Capital Unaffected by Movement in Swiss Franc ETX Capital is pleased to confirm that its financial position is unaffected following the extreme movement in the price of the Swiss Franc yesterday. The company is experiencing…
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