Overall volumes on the Moscow Exchange were up 5% in September. Well it seems as if Russian traders decided to take an extra long summer break this year. September FX trading volumes on the Moscow Exchange were down 2% from August to total RUB 14.6 trillion (about $453 billion). However, as the Moscow Exchange continues…
Read moreSirix Community will allow traders to copy and follow all other members regardless of which brokerage firm they're with. Leading FX platform provider Leverate has introduced a major upgrade to its Sirix social trading platform. Until now, a broker using Sirix could create its own in-house social network, allowing traders to copy, follow, and view the profiles…
Read moreJapan's largest retail FX broker sees its lowest volumes since December 2012. Although GMO Click's forex trading volume metrics are still more than double what they were last year, there is a clear slowdown in forex trading in Japan after a record start to the year. GMO Click reported September trading volumes at ¥62.8 trillion, or…
Read moreLesson learned? Don't fight your regulator, even if you think you're right. The CFTC (and NFA) seems to have it in for FXDD, unless this is just a coincidence (which we believe it is not). For the second time in just two weeks, the CFTC has announced fines against the leading forex broker for two…
Read moreRetail forex trading volumes globally drop to $285 billion daily, in typical August fashion. Nothing to worry about in the retail forex industry, it was just summer..... LeapRate's Retail FX Volume Index, sponsored by Leverate, decreased by 6% in July to average $285 billion daily, down from $305 billion in July and off 13% from an all…
Read moreRJO fined $125,000 and Vision Financial $525,000, both related to handling of client funds. Futures brokers RJ O'Brien (RJO) and Vision Financial Markets LLC were each sanctioned by the CFTC for issues tied to client funds. RJO's $125,000 fine was for commingling secured foreign futures and options customer funds, with segregated domestic futures and options customer…
Read moreMost major swaps industry participants have now received their SEF designation, ready for October 2. This might have just been a coincidence, or someone at the CFTC has a sense of humor. The CFTC has indeed before combined, in one press release, announcements regarding licenses or other issues which involve more than one company. But…
Read moreHowever the CFTC denies the six month full implementation delay requested by the securities industry. Despite warnings by many securities industry firms that they and their clients are not fully ready to move swaps from over-the-counter platforms to SEFs, the CFTC apparently will not delay the October 2 deadline (i.e. this Wednesday) for SEF implementation.…
Read moreHisham and Wissam Mansour will own 5% of Swissquote going forward. LeapRate Exclusive.... As we promised, some more details on the Swissquote acquisition of rival Swiss forex broker MIG Bank. Apparently the deal was done for a combination of cash and stock, fairly standard in this type and size of acquisition. Swissquote has paid 750,000…
Read moreIG's rebranding and reorganizing has gone beyond the purchase of domain name IG.com. LeapRate Exclusive... LeapRate has learned that Tim Hughes has left IG Group. Hughes had joined IG as a graduate in 2000, and through 13 years at the company moved up to become Head of Sales until 2010 when Hughes was promoted to…
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