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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Multi-asset execution and order management systems company FlexTrade Systems has announced the rollout of FlexAlgoWheel, its next generation, data-driven interface to algo selection. FlexAlgoWheel incorporates real-time internal and external inputs as well as TCA to optimize the broker and algo selection process. According to Vijay Kedia, President and CEO of FlexTrade, An important, yet repetitive…
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LMAX Exchange, the FCA regulated MTF for global FX trading, has issued a white paper several months in the making. LMAX's report is a scathing review regarding the way the institutional global FX market works today, and offers ways to fix things. The LMAX Exchange white paper calls for industry-wide consultation and collaboration to agree consistent TCA…
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The financial technology company NEX Group plc (LON:NXG) just announced its audited results for the year ended 31 March 2017. Some of the highlights include: ICAP Global Broking division: sold for £1.3 billion Revenue from continuing operations increased by 18% to £543 million (2015/16: £460 million), an increase of 8% on a constant currency basis…
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LeapRate has learned that experienced Forex industry executive Nidal Abdelhadi has joined Abu Dhabi based FX brokerage house ADS Securities as its new Head of Global Institutional Sales. A native of Jordan, Mr. Abdelhadi began his FX career with Jordanian-owned but Swiss-based MIG Bank, spending 10 years at MIG moving up the ranks from regional…
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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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