Global Brokerage Inc (NASDAQ:GLBR), parent company of retail forex broker FXCM, released its Q1 results indicating - as expected - a significant decrease in activity, in large part due to the sale of the company's US clients to Gain Capital Holdings Inc (NYSE:GCAP). The company's operating loss of $24.2 million and net loss of $29.9 million…
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Well, Drew Niv is finally out the door. Global Brokerage Inc (NASDAQ:GLBR), formerly FXCM Inc. and parent of operating company FXCM Group LLC has issued a filing stating that Ken Grossman will replace Drew Niv as CEO of the publicly traded company. Mr. Niv remained on as interim CEO of GLBR even after resigning his positions…
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LeapRate Exclusive Interview... It would be an understatement to offer that the Q1 results recently announced by Forex brokerage house Gain Capital Holdings Inc (NYSE:GCAP) were disappointing. Revenues were down nearly 50% from the previous quarter. Revenues from retail clients were down 60%. The company posted a $19 million loss. Was this a one-time anomaly, or…
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LeapRate Exclusive... LeapRate has learned via regulatory filings made in the US and the UK that New York based global investment bank Morgan Stanley (NYSE:MS) has become one of the largest shareholders of Playtech PLC (LON:PTEC), taking a 5.1% position in the company. Playtech is one of the world's leaders in providing software and systems to the…
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FXCM Group LLC, the operating company now running the FXCM retail forex brand, has announced that it has named Brendan Callan as its CEO. Mr. Callan was named interim CEO of FXCM back in February, following the abrupt resignation of FXCM co-founder Drew Niv from the operations of FXCM globally, after Mr. Niv (and FXCM) were…
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Japan retail forex broker Rakuten, Inc. (TYO:4755) and financial technology provider Tradency today announced that the two companies have collaborated to launch the RoboX service. As a result of this newly formed partnership, the RoboX service will become available to Rakuten Securities, retail forex traders. Rakuten will become the first broker offering this service in…
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LeapRate has learned that Stavros Yiannakou has joined CySEC regulated retail FX broker ArgusFX as its new COO. Mr. Yiannakou spent the past five years as Head of Business Development at MAP S.Platis, the leading regulatory consultant firm in Cyprus. He has previously been CEO of TadawulFX (which later became Liquid Markets) after beginning his career as…
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Warsaw based X Trade Brokers Dom Maklerski SA (WSE:XTB), which operates Retail Forex broker XTB.com as well as the X Open Hub trading platform, has issued its full Q1 results report after earlier issuing a preliminary filing indicating that Q1 was a fairly slow one for the group. XTB continued its quite unusual pattern of up-and-down…
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Interdealer broker TP ICAP (LON:TCAP) has agreed a £270 million bulk annuity for its defined benefit pension scheme with Rothesay Life. Both TP ICAP and the Trustees of the Tullett Prebon Pension Scheme have moved to protect the retirement income of its members. A bulk annuity is an insurance policy through which a pension scheme…
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Global retail forex broker HotForex has announced the launch of a dedicated office in Johannesburg. HotForex is a unified brand name of the HF Markets Group, which includes HF Markets SA (PTY) Ltd, an authorized Financial Service Provider by the South Africa FSB. HotForex was granted the FSB license last summer. HotForex Managing Director Aristos…
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