FXCM
FXCM hires Middle East head
Other people moves at CLS, Morgan Stanley and Portware
FXCM aims for 50:50 split between institutional and retail FX
The forex broker's push into the institutional market has accelerated with recent deals and chief executive Drew Niv eyes further growth to achieve targets
CFDs gain reprieve from CVA threat
The reports of CFDs’ demise were greatly exaggerated, writes Michael Watt. Far from being killed off by the CVA charge, they have probably been saved by one of the clauses in the new rule
FXCM buys majority stake in Faros Trading
FXCM continues its aggressive expansion as it acquires a 50.1% stake in FX agency firm Faros Trading, four years after it was established by Ray Kamrath
FastMatch signs with TMX Atrium for low-latency connectivity
Start-up spot FX platform joins network to lower transatlantic latency and leverage global coverage
Shadow of Cyprus crisis remains cast on retail FX
Some retail brokers in Cyprus claim the recent crisis has driven concentration of clients among larger firms, but others argue there is little data to support this
Retail brokers concerned about capital hit to CFDs
Brokers offering CFDs face the prospect of having to raise additional capital to hold against CFDs, leading them to question the product's future
Regulation deters currency managers from retail FX
Mifid requirements for enhanced transparency and due diligence for retail investors makes retail FX less attractive for some currency managers
Options platforms struggling with dearth of liquidity takers
Some FX options platforms have struggled to gain traction in a new and untested market, but banks say the problem is one of low demand for, rather than provision of, liquidity
Retail FX volume leverages the volatility boom
Growth in retail volume this year is not just a return from low volume in 2012, but a long-term trend, say market participants
Further consolidation looms in retail FX
Retail FX continues to grow at a faster pace than the broader market, but brokers face the tough challenge of dealing with strict regulations and remaining competitive in an environment of aggressive consolidation. Miriam Siers reports
Rolling spot is a swap in retail market, says CFTC’s Chilton
Bart Chilton confirms rolling spot transactions in the retail market renders the contract a swap under the Dodd-Frank Act, but definitions still unclear in institutional FX
FXCM hits record trading volumes
Return of volatility brings traders back to market
Market relief as CFTC approves final Sef rules
Request-for-quote rules are watered down and voice broking allowed to continue under final Sef rules from the CFTC
FastMatch launches matching engine in London
The FXCM venture, which uses Credit Suisse technology and has backing from BNY Mellon, aims to offer real-time spot FX pricing in Europe
FXCM and Gain Capital report sharp rise in Q1 revenues
Margin foreign exchange brokers signal a recovery in activity with a sharp rise in first quarter revenues
FXCM launches unregulated FXCM Markets
Margin foreign exchange broker targets traders outside of US, Canada, UK, France, Germany, Australia and Japan
Gain rejects FXCM, buys GFT for $107 million
FXCM's $195 million offer has been rejected, and Gain instead seals an acquisition deal with GFT
Market questions FXCM's $210 million bid for Gain Capital
Market participants divided over how much value Gain Capital really holds for hostile bidder FXCM
Trading Places, April 1, 2013
Citi wins an FX options trader from Barclays in London, while ex-FXCM CCO James Sanders moves to First Derivatives in the same role and Legal & General grows operations in Europe
Client funds are safe, claim Cyprus-based FX brokers
Cyprus has become a haven for retail FX brokers in recent years, but the crisis that has arisen from the rejected bailout package this week has unsettled the market
FXCM share price drops 4.33% on results
Retail broker sees collapsing share price following weak earnings
FastMatch volumes up as BNY Mellon takes stake
The custodial flow from BNY Mellon will help to attract more participants to the growing platform, according to FastMatch chief executive Dmitri Galinov
Emerging markets to drive retail foreign exchange growth in 2013
Asia, Africa, Middle East and Latin America are expected to see a rise in retail foreign exchange trading as stringent rules in developed markets come into force