Dukascopy extends 30x GBP and EUR leverage limits in wake of Brexit vote volatility LeapRate

June 24, 2016 BY LeapRate Staff

Dukascopy extends 30x GBP and EUR leverage limits in wake of Brexit vote volatility

Geneva based retail forex broker Dukascopy Bank has announced that it will be extending its leverage limits offered to currency traders, in the wake of yesterday's pro-Leave Brexit vote, and the volatility in financial markets which has ensued. Dukascopy has also put in place position limits for clients. The leverage and position limits will remain…

June 24, 2016 BY LeapRate Staff

Saxo Bank: Our clients gained through Brexit trading

Denmark-based retail forex broker Saxo Bank has put out a statement about trading conditions in the current post-Brexit vote environment. LeapRate readers will recall that Saxo Bank was one of the first Forex brokers to limit trading leverage given to clients by raising margin requirements for most open and new trading positions, which seem to…

June 24, 2016 BY LeapRate Staff

FCA post-Brexit statement hints at new UK legislation for financial regulation

The FCA's statement included phrases such as 'until the Government changes the applicable legislation'.

June 24, 2016 BY LeapRate Staff

easyMarkets reports no client negative client balances in post Brexit trading

As we continue to bring LeapRate readers feedback and news from across the FX trading universe in the wake of yesterday's pro-Leave Brexit vote, we have received a statement from CySEC regulated broker easyMarkets about trading conditions at the firm. LeapRate readers will recall that easyMarkets was one of just a handful of FX brokers…

June 24, 2016 BY LeapRate Staff

Deutsche Börse and London Stock Exchange: Brexit vote doesn't change our merger

Exchange operators Deutsche Börse and London Stock Exchange have issued a joint statement in the wake of yesterday's pro-Leave Brexit vote, stating their commitment to continue with the planned merger of the two companies. As with all things pan-European, there exists a lot of uncertainty this morning regarding many business relationships and what the fallout of…

June 24, 2016 BY LeapRate Staff

David Cameron resigns as British PM in wake of Brexit vote

Surprisingly, the British Pound rallied somewhat at the time of Cameron's resignation speech.

June 24, 2016 BY LeapRate Staff

CySEC demands all Forex Brokers report Brexit effects by end of day

Cyprus financial regulator CySEC has issued a note to all regulated entities on the island, asking them to report the effect of post-Brexit vote trading. The note, signed by CySEC Chairman Demetra Kalogerou (pictured above), asks all CIF regulated entities to report the amount of their own funds, and their capital adequacy ratio to CySEC. It…

June 24, 2016 BY LeapRate Staff

Brexit win: GBP down 11% to 1.33, EUR below 1.10, JPY up 5%, Bitcoin up 8%...

Well, the next spike is here. While not totally a surprise like last year's move by the Swiss National Bank to stop artificially holding down the value of the CHF leading to a 20% spike in the value of the Swiss Franc, Thursday's somewhat unexpected win by the Leave side in the historic Brexit vote has…

June 23, 2016 BY LeapRate Staff

Bad day for Merrill Lynch - assessed $430 million in fines for misusing customer cash and misleading investors

Investment giant Merrill Lynch, a unit Bank of America Corp (NYSE:BAC), has been assessed a total of $430 million in fines by the U.S. Securities and Exchange Commission and The Financial Industry Regulatory Authority (FINRA). The fines relate to a misuse of client funds by Merrill Lynch, as well as misleading investors in the sale of structured…

June 23, 2016 BY LeapRate Staff

Toyota Financial Services joins R3 distributed ledger consortium

Toyota Financial Services, the U.S. finance and insurance arm of global auto giant Toyota Motor Corp (ADR) (NYSE:TM), has announced that it has joined financial innovation firm R3’s consortium to design and apply distributed and shared ledger-inspired technologies to global financial markets. Toyota Financial Services, which is the first automotive financial services provider to join…