LMAX CEO David Mercer: "We need to be in New York in the next 12 to 18 months." UK-based institutional FX broker LMAX, which dubs itself a 'multi-lateral trading facility for foreign exchange', in indicating its intention to open a US operation by the end of 2014. In a posting on its website, LMAX CEO David…
Read moreCME's 1.2 million daily FX futures contracts traded were its second best ever month. The good volume news keeps on rolling in the Forex industry... CME Group, which runs the world's largest derivatives marketplace, announced that June FX futures volumes increased by 18% from May (and by 15% from last year June) to 1.2 million. The…
Read moreForex industry trading volumes continue to soar in Japan, as Yen and Nikkei volatility continues. The financial market turmoil in Japan during June has served the retail forex brokers quite well. With the USDJPY pair bouncing from 100, down to 94, and then back to near 100 iby the end of June, and the Nikkei stock…
Read moreCFD broker Plus500 is planning to raise $50 million at a company value of $225 million in an IPO on London's Alternative Investment Market (AIM). BREAKING NEWS.... UK-based and Cyprus-domiciled CFD broker Plus500 has formally announced its intention to pursue an IPO on the London Stock Exchange's Alternative Investment Market (AIM). The company plans to raise…
Read moreIn major departures from its norm, IG Group is rebranding as IG.com, focusing on Forex traders, and adding a third party platform. IG Group is not exactly sitting on its laurels, despite recent stellar financial results, and the IG share price sitting at an all time high. In a piece about a month ago we…
Read moreSaxo Bank's average daily forex volumes rose by 1.4% to $14.6 billion, but total volumes fell as there were less trading days than in May. LeapRate has learned that leading global FX broker Saxo Bank, a member of LeapRate's Approved List of regulated retail forex brokers, continued its strong start to 2013 during June, with…
Read moreFXCM, Gain Capital and IG Group shares set all-time or multi-year highs, while the overall stock market stalls in Q2. Q2 was not very kind to Gold prices (down 23%) or equity markets (basically flat), or even bond prices, but it was very kind to publicly traded Forex brokers. But Q2 brought with it increased…
Read moreThe Cyprus EU crisis and bailout seems a distant memory as Forex brokers continue to flock to the country. It was less than four months ago that people in the forex industry (including us) were wondering whether or not the sector would survive at all in Cyprus, which until then had been one of the…
Read moreMt Gox's receipt of an MSB license is a major step to operating freely in the U.S. Leading Bitcoin Exchange company Mt Gox has applied for, and received, a U.S. Money Services Business MSB license from FinCen, the U.S. Financial Crimes Enforcement Network. As reported in the Wall Street Journal, Mt Gox's MSB license means that Mt Gox…
Read moreRegulator's clear message to brokerage CEOs – you are ultimately responsible for customer funds. The CFTC, in one of its strongest worded statements we've seen, has brought a civil action against former MF Global CEO Jon Corzine, as well as former Assistant Treasurer Edith O'Brien for the $1 billion in client funds which were missing when…
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