Assets in an unlicensed money transferring business associated with Mt. Gox seized. The US Department of Homeland Security (DHS) has frozen a mobile payments account associated with Bitcoin exchange Mt. Gox. This is part of an investigation announced on Tuesday. Dwolla is a mobile payment company based in Iowa. They have confirmed that they received a warrant…
Read moreMarch and April volume numbers continue to impress from Saxo Bank. LeapRate Exclusive.... LeapRate has learned that leading global FX broker Saxo Bank, a member of LeapRate's Approved List of regulated global FX firms, continued its strong start to 2013 through March and April. The details -- we had previously reported (also, exclusively) that in January ($427 billion)…
Read moreHotspot FX had the largest April increase of any Forex ECN. Breaking a trend we saw with its larger rivals, Knight Capital's Hotspot FX reported that FX volumes rose 12% in April to $29.5 billion (average daily volume). Most of the other Forex ECNs which have reported so far -- EBS, FXall and Thomson Reuters,…
Read moreICAP saw revenues declines in all product groups, and across all geographies. Interdealer broker ICAP reported today its 2013 year end results (ICAP has a March 31 fiscal year end), and they weren't pretty. ICAP saw revenue declines across all of its business groups, including FX trading, and across all geographies. Overall, revenues were down…
Read moreCFTC says defendants lured clients to trade forex, but used funds for personal use. The CFTC has obtained a court order ordering Kevin Harris, Keelan Harris, Complete Developments, LLC (CDL), and Investment International Inc. (aka I3), all of Warren, Ohio, along with another defendant, Karen Starr of Barrie, Ontario, Canada, “collectively to pay restitution” of over $23 million. We've seen…
Read morePayback for EBS hiring Integral's co-founder Viral Tolat earlier this year??? Integral Development Corp., a leading provider of FX trading solutions and services, announced today that David Faulkner has joined the firm as global segment head, banks. Mr. Faulkner spent 9 years at EBS in various roles, lastly as Manager of Prime Brokerage. (He had…
Read moreMoving Yuan in and out of the country will be easier, and trading the Yuan should become easier. LeapRate Exclusive... China's State Administration of Foreign Exchange (SAFE) has posted (in Chinese only) that it will simplify FX regulations, creating an easier and more convenient environment for foreign investors to move money into and out of the…
Read moreMark Slade buys 200,000 LCG shares for about $114,000, to hold about 0.5% of the company. It wasn't a very large investment in terms of total cost, but with new London Capital Group CEO Mark Slade reporting that he was buying shares, investors on the LSE followed and bid up LCG's share price by 6%…
Read moreAs Bitcoin trading gains traction and more firms in the US want to offer products, regulatory bodies enter the mix. Courtesy of our friends at CFTCLaw.com..... The CFTC is now considering whether or not Bitcoin falls under its regulatory scope. Bart Chilton, Commissioner of the CFTC, was quoted in the Financial Times that Bitcoin “is for sure…
Read moreFour consecutive months of FX volume trading records at Alpari. As first reported by our friends at Forexbrokerz.com.... Global FX broker Alpari has reported its best ever month in April, with total group volumes coming in at $245 billion -- eclipsing Alpari's March volume of $238 billion and February's $237 billion. These stellar results come…
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