MIG Bank brand will disappear, as Swissquote (SWX:SQN) Q3 report provides more insight into the acquisition of its Swiss rival. Leading Swiss online broker Swissquote has reported its Q3 financials, which showed a relatively slow but profitable Q3 (more on that later). However the interesting part of the report shed more light on Swissquote's acquisition of…
Read more...but remain well below first half of the year metrics. We asked last month 'What is wrong with Saxo Bank' when the Denmark-based retail forex broker reported its fifth consecutive month of declining volumes, at $220 billion. Well things improved somewhat in October, but not that much. Saxo Bank October forex volumes came in at…
Read moreGovernment shutdown leads to slow institutional trading month. Forex ECN EBS and derivatives marketplace CME Group each released October volume figures today, and they were scary low (from their perspective, of course). CME Group FX futures volumes decreased by 22% from September, and 9% from last year October, averaging 644,000 contracts per day --…
Read moreNevada based company Robocoin has installed its first Bitcoin ATM machine in Vancouver. Prices for the digital currency Bitcoin keep on steadily rising, as it did not seem to lose its luster after the Silk Road debacle and kept marking new recent highs at the end of October helped in part by a Chinese major…
Read moreTwitter is expected to price its IPO later this week, greymarket pegs $22-$23 billion valuation. After much anticipation, social networking icon Twitter (NYSE:TWTR) is finally expected to price its IPO later this week (November 7), barring any last minute change in plans. And while the latest version of Twitter's IPO prospectus still shows a $10-$11…
Read morePressures for the Chinese Yuan to become a convertible currency will only intensify. In a not so diplomatic report to Congress, the US Treasury has highlighted the need for greater exchange rate flexibility on the part of China and angered German politicians by pointing out Germany’s large global trade surplus is persistently harming the rest…
Read moreThe US Government shutdown, combined with industry pressure, leads the CFTC to be more flexible with SEFs. After previously giving SEFs a month extension to November 1 before a lot of the SEF rules kick in, the CFTC has now granted the SEFs an additional month (to November 29) before certain of their enforcement responsibilities…
Read moreHard to believe it is November already, and October FX trading volumes are beginning to pour in. First to report this month is the Moscow Exchange, which reports a 5% decline in October volume metrics from September levels, at RUB 13.8 trillion ($430 billion) for the month. Moscow Exchange volumes are, as one would expect,…
Read moreGCAP shares are still up 156% so far in 2013. Forex broker Gain Capital (NYSE:GCAP), which operates the retail Forex.com and institutional Gain GTX brands, saw its shares dive by 7% on Thursday after announcing Q3 results that were down significantly from Q2. We'd like to note that virtually all the forex industry blogs we…
Read moreSenior forex traders at RBS, Citigroup, JPMorgan and Standard Chartered put on leave. The 4pm Fix investigation dominoes are starting to fall.... Rohan Ramchandani of Citigroup, Matt Gardiner of Standard Chartered and Richard Usher at JP Morgan, plus two unnamed Forex executives at RBS, were all separately either suspended or placed on leave from their…
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