FXCM discloses data for global market failure event
Retail broker blasts SNB and liquidity providers
Retail foreign exchange broker FXCM has branded the Swiss National Bank (SNB) "reckless" and "irresponsible" for causing a flash crash and a market failure in currency markets, as the broker released a detailed account of events on its platform on January 15.
FXCM, which lost more than $200 million on the day, revealed that market-makers and liquidity providers were either unable or unwilling to keep pricing into the broker's platform in the immediate aftermath of the SNB's announcement, causing
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