Considering the fairly down figures we've witnessed so far for both retail and institutional FX platforms in May, Copenhagen-based Saxo Bank's figure of $255 billion for the month seems fairly strong. On an ADV basis, volumes were down 3.2% from $12.4 billion per day in April at Saxo Bank to $11.6 billion in May. The…
Read moreLeapRate Exclusive... Further to our exclusive coverage of Saxo Bank's plans to curtail leverage provided to clients in FX trading leading up to the June 23 Brexit vote in the UK, LeapRate has learned some more specifics of the leverage restrictions and new margin requirements at Saxo. The leverage restrictions and increased margin requirements are…
Read moreRetail forex broker OANDA has announced that Kazuaki 'Kaz' Takabatake has joined the firm as Managing Director and CEO of its Asia Pacific operations. Takabatake will be based in Singapore. He will be responsible for driving OANDA’s continued growth across the APAC region. He replaces Rajesh Yohannan, who had been APAC head for OANDA also out of Singapore since 2013.…
Read moreLeapRate has learned via filings made to the London Stock Exchange that investment giant BlackRock, Inc. (NYSE:BLK) has taken a 4.74% stake in interdealer broker and electronic markets operator ICAP plc (LON:IAP). BlackRock now holds 30.93 million ICAP shares, worth at today's prices £133.6 million (USD $194 million). With $4.6 trillion in assets under management, BlackRock is…
Read moreForex industry news at LeapRate this past week was dominated by regulatory moves, broker results, and news involving China (some good, some bad). Our most popular guest posts covered the pros and cons of fully integrated forex broker platform solutions, How easy is it to become a Prime of Prime, and Google bans Payday Loan ads –…
Read moreLeapRate has learned that leading retail forex broker Saxo Bank has sent an email out to clients, asking its clients to prepare for what Saxo Bank calls 'a high probability of margin requirement increases, as well as restricted availability of certain trade and order types' leading up to next month's Brexit vote in the UK. Saxo…
Read moreLeapRate has learned that leading retail forex broker Saxo Bank has sent an email out to clients, asking its clients to prepare for what Saxo Bank calls 'a high probability of margin requirement increases, as well as restricted availability of certain trade and order types' leading up to next month's Brexit vote in the UK. Saxo…
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This represents Saxo Bank's second announcement with a China partner in just the past few weeks.
Read moreForex industry news at LeapRate this past week certainly had an Australian feel to it, with a number of key news items from down under in a region where the Forex sector continues to rapidly change - despite (or maybe in part because) the local regulator ASIC hasn't approved a new license to a Forex…
Read moreLeapRate has learned that retail forex broker Saxo Bank has hired Ben Smoker away from rival Gain Capital Holdings Inc (NYSE:GCAP) to act as CEO of its ASIC regulated subsidiary in Australia, Saxo Capital Markets (Australia) Pty Ltd. Ben Smoker has been Country Head of Gain Capital Australia for the past three-plus years. He was previously in…
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