UBS joins JP Morgan and Morgan Stanley on the sidelines, citing ‘time and effort involved is disproportionate’ Another major bank has joined the ranks of JP Morgan and Morgan Stanley to sit out from the annual survey by the Euromoney Magazine’s annual poll for best FX dealing bank. The Wall Street Journal reports that the…
Read morePlus500’s founders still own 35.6% of the company Publicly listed CFD trading platform provider Plus500 is reporting that the founders of the company have successfully placed and sold a total of 20,000,000 ordinary shares at a fixed price of 500 pence per share. The price represents about a 10% discount to where Plus500 shares have…
Read moreCost optimization related to the GFT acquisition is key to future share price developments In the aftermath of its Q4 earnings report, shares of publicly traded retail and institutional forex broker GAIN Capital (NYSE:GCAP) have soared more than 12% as investors appeared confident in the company’s ability to optimize its cost structure to successfully integrate…
Read moreForex dealers see declining influence in the US, as their numbers continue to fall The structure of the Board of Directors of the NFA is facing imminent changes, and those might eliminate the board membership of retail forex dealers. Yesterday, the NFA has issued a press release detailing a proposal for structural changes to the…
Read moreThe defendant operated through My Forex Planet Inc, Wal Capital S.A. and Top Global Capital Inc A civil enforcement action has been filed by the US Commodity Futures Trading Commission (CFTC) against Melody Nganthuy Phan and companies associated with her – My Forex Planet Inc, Wal Capital S.A. and Top Global Capital for conducting a…
Read moreThe company has acknowledged that they have experienced ISP related issues via their Twitter feed One of the oldest and biggest brokerages in the online forex world, Oanda, has experienced a massive disruption in its services for a couple of hours during the late European afternoon. The outage affected the company’s global operations through their…
Read moreLondon to become first location outside Asia to have a Yuan clearing bank As the Renminbi is finally rebounding somewhat from its recent slide against the US dollar we are seeing a very clear intention by UK authorities and the private sector, for London to become the main trading venue outside of Asia for Chinese…
Read moreInstitutional and retail business revenues almost tripled in 2013, profits squeezed by GFT acquisition GAIN Capital Holdings (NYSE:GCAP) has just released its fourth quarter earnings report and the figures are quite impressive – the company announced its revenue numbers have nicely jumped up by 38% over last quarter to $83 million. The company’s retail business…
Read moreFull press release for Gain's Q4 and full year 2013 results follows. Details and analysis to follow... The complete Gain Capital Q4 press release can be seen here. GAIN Capital Reports Full Year and Fourth Quarter 2013 Results For Full Year 2013 Net revenue of $266.4 million Net income of $31.3 million EPS of $0.79…
Read moreThe company aims to launch its new OTC derivatives offerings on the 3rd of March The European division of the CME Group, CME Clearing Europe has announced today that it received regulatory approval to launch Overnight Index Swaps, zero coupon swaps, Forward Rates Agreements, basis swaps and variable notional swaps. In addition the company is…
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