FX Concepts pays price for not adapting strategy
The bankruptcy of International Foreign Exchange Concepts, the holding company of the FX Concepts currency management business, has created shockwaves in the industry as participants question whether this is an isolated incident or the start of a broader industry trend.
According to officials both inside and beyond FX Concepts, the firm ran aground as a result of its failure to adapt its systematic trading strategies to a new reality in the FX market that has evolved as a result of low interest
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