Looks like October was slow in the FX trading world. After reporting an improved September following a very slow summer, ICAP plc's forex ECN unit EBS reversed course and reported that daily FX volumes in October averaged only $92.6 billion -- its slowest month since 2005. Volatility has come back somewhat to the FX markets…
Read moreOffering is free, and allows FX traders to benchmark their results. Technology and Financial advisory firm FXCSI, has released a free post-trade FX Transition Cost Analysis ("TCA") tool, allowing users to quickly and easily generate their own FX TCA reporting. The tool is currently in alpha testing, heading to beta in December. According to Mark VanRoon,…
Read moreBenefit of being a truly international company. For many of us Hurricane Sandy is a distant memory, relegated to last week's news. But for those who have offices in the New York-New Jersey coastal areas, the storm will have both personal and business effects for quite a while to come. The neighborhood where FXCM has…
Read moreGVC Gaesco is a €2.4 billion asset management firm. Leading retail FX firm FXCM, the world's largest online FX broker (and a member of LeapRate's Approved List of global FX firms), announced today that it has signed another white label client in Europe, Spain's GVC Gaesco. GVC Gaesco is one of Spain's leading independent financial groups, with…
Read moreSwissquote also expanding to Malta, second office outside Switzerland. Leading Swiss online brokerage Swissquote (a member of LeapRate's Approved List of global Forex brokerage firms) announced today that FX volumes increased nicely in Q3 to average CHF 37 billion per month (or $38 billion), up more than 30% over Q2. This is a nice development to…
Read moreShares are more than 50% below Dec 2010 IPO price of $9. After reporting Q3 results last Thursday which we believed were not bad given the overall slow state of the FX sector over the summer, Gain Capital (Forex.com) shares (NYSE: GCAP) continued to drift lower on Monday, and at one point in trading fell…
Read moreFXNet set up by former XEMarkets (TradingPoint) execs. Cyprus' securities regulator CySEC announced that it has granted a CIF (Cyprus Investment Firm) license to FXNet, an about-to-be-launched retail FX firm. FXNet is being formed by (among others) executives from XEMarkets, including Costas Kappai, formerly senior dealer at XEMarkets. [Editor's note -- see company comment below].…
Read moreFirst indication that October was slow in the FX trading world. CME Group, which runs the world's largest derivatives marketplace, announced that FX contract volumes (mainly Eurodollar futures contracts) in its system were down by 32% in October from September to an average of 702,000 contracts daily. October's volumes were also 23% below last year's…
Read moreRare (and interesting) hardware innovation for high-end FX traders. Saxo Bank, a member of LeapRate's Approved List of global FX firms, has introduced a new trading keypad which will be available only to its high end clients. We have recently seen a technology war taking place among leading FX brokers -- mainly to the benefit…
Read moreRetail volumes continue to fall, but institutional volumes strong After a two-day delay due to Hurricane Sandy, Gain Capital (Forex.com) announced its Q3 results after markets closed yesterday, showing an overall profit (albeit a small one) of $3.6 million on revenues of $40 million for the quarter. Both numbers were well below Q3 figures last…
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