Forex Weekly Look Back: Plus500 triples sales, Dukascopy announces white label partnership with Bank Sich in Ukraine LeapRate

July 10, 2020 BY Steffy Bogdanova

Forex Weekly Look Back: Plus500 triples sales, Dukascopy announces white label partnership with Bank Sich in Ukraine

The institutional unit of FXCM Group, FXCM Pro, announced its has teamed up with trading technology provider Tradesocio. The two companies collaborated to provide banks, brokers, asset managers and other buy-side institutions with a full fintech solution that combines Tradesocio’s digital investment and trading technology with FXCM Pro’s institutional liquidity and global scale. Tradesocio’s client base…

July 10, 2020 BY Valentina Kirilova

Daily Market News: Dow Jones back below 26,000 after jobless claims data

What to watch Producer price index: PPI data for June will be released on Friday in the US by the Bureau of Labor Statistics. The data measures the average change over time in the prices received by US producers for the products and services they provide. Month-over-month and year-over-year data will be released, with economists…

July 10, 2020 BY Steffy Bogdanova

Australia FX broker USGFX enters into voluntary administration, blames ASIC

Retail FX brokerage group USGFX set up its UK subsidiary Union Standard International Group Limited in November 2019. The company had applied for and received an FCA license for USGFX UK, which became effective on November 5. In December 2019 ASIC announced that the Federal Court in Sydney issueed asset restraint orders against Corporate Authorised…

July 10, 2020 BY Steffy Bogdanova

Gain Capital’s trading volumes reach $222.3 billion with 24% MoM growth in June

The average daily volume OTC trading was $10.1 billion, registering a 18.8% MoM rise, compared to May when it was $8.5 billion. Futures contracts amounted to 599,991 in June, a 10.4% MoM growth compared to 543,683 last month. Jun-20 May-20 Jun-19 MoM change YoY change Retail Segment OTC Trading Volume $ 222.3 $ 179.3 $…

July 09, 2020 BY Steffy Bogdanova

Sucden Financial appoints Alan Burr for LME metals and options trading in Hong Kong

His career begun at Natixis Commodity Markets Limited in 1995 and in 1999 became a floor dealer before moving to Natixis Asia Limited as director and head of Metals Asia in Hong Kong. He moved to Newedge Financial Hong Kong Limited in 2012 where he was director and head of metals, establishing a new team…

July 09, 2020 BY Valentina Kirilova

Daily Market News: United Airlines signals plans to lay off nearly 50% of staff

What to watch Walgreens Boots: This week, pharmacy retailer Walgreens Boots announced it has reached a deal with a primary care firm to open doctors’ offices in more than 500 drug stores over the next five years, targeting underserved markets. That partnership will likely be one focus for analysts when the company reports its latest…

July 09, 2020 BY Steffy Bogdanova

LCH adds European Investment Bank as the first supranational clearing member

Christophe Hémon, CEO, LCH SA, commented: Welcoming the European Invesment Bank as a direct member of LCH SA is a significant moment for us and the fixed income market as a whole. EIB will act as an important liquidity provider for our service and we look forward to continuing to work with them as we…

July 08, 2020 BY Steffy Bogdanova

BNY Mellon and Deutsche Bank partnership to improve custody FX for restricted EM currencies

The solution will utilize existing bots between the two banks for fast communication to help eliminate market frictions. It can also bring trade remediation closer to the time of execution. As a result, the benefits can also reduce price slippage for clients between the FX leg of a transaction and the equity or fixed-income security…

CFH releases Tier 1 Loco London Liquidity for gold in grams and tael

July 08, 2020 BY Steffy Bogdanova

CFH expands Bullion offering with Tier 1 Loco London Liquidity for gold in grams and tael

Alex Yap, Senior Institutional at CFH stated: “East meets West” can give a whole new meaning to bullion trading. Spot gold in gram and Hong Kong tael quoted in US dollar and local currencies is another CFH product innovation. CFH’s new product offering targets clients trading gold denominated in different currency and unit including RMB…

July 08, 2020 BY Valentina Kirilova

Daily market commentary: The gold price breaks its previous high once again

EUROPEAN SHARES European stock markets registered a light retreat on Wednesday following a mixed trading session in Asia, while U.S contracts also point to a weaker open as the consolidation continues on riskier assets. These bearish corrections, of limited magnitude so far, are mostly perceived as “healthy” by investors following the strongest rally of the…

Category: Forex