LeapRate's Daily Forex Industry Newsletter
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Screenshot of a breaking news alert e-mail from Q2 2017
Forex Industry News this past week at LeapRate had a decidedly corporate feel. After a few weeks dominated by either Brexit or regulatory issues, it was back to basics as we were first to report on stories involving FXCM, Myfxbook, LMAX, Dukascopy, and others.
Two guest posts were among our Top-10 most hit and searched-for articles this week:
- The evolution of Forex sports sponsorships: Where does the money go?, courtesy of Sports Media Gaming’s Stephen Pearson, who has personally brokered a number of the recent FX and Binary sector deals with leading sports groups.
- Forex Brokers and Economic Calendars: a study of 248 brokers, by EarnForex.
Some of our most popular, shared and commented-on posts this week at LeapRate included:
FXCM files shelf prospectus indicating plans for $125 million capital raise. Forex broker FXCM Inc (NYSE:FXCM) has filed a shelf prospectus with the U.S. Securities and Exchange Commission (SEC), indicating that the company is planning to raise in the neighborhood of $125 million in the near future. According to the prospectus, the capital raise could be in the form of equity, debt, or some combination thereof. What exactly is a Shelf Prospectus? And why file one? What would FXCM use the money for?
Myfxbook allows its CySEC CIF license to lapse. Cyprus financial regulator CySEC has announced that the CIF license of social trading site Myfxbook.com has lapsed (CIF # 255/14). Myfxbook had originally received a CIF license back in late 2014, when it was becoming apparent that European regulators were going to crack down on unlicensed social, copy, and autotrading websites, as well as ‘trading community’ websites where investment advice was being given or sought by retail traders. So what happened?