Good timing for Knight Capital's soon-to-be new owners, who will soon likely put Hotspot FX on the sale block. Hotspot FX reported that volumes in its Forex ECN system rose by 38% in January over December levels, to average $27.1 billion daily. January 2013 was also 10% above January 2012's averages. The numbers from Hotspot…
Read moreIntegral reveals what management of Retail FX brokers are really thinking. Broker solutions provider Integral has released what's becoming an annual survey of management of Retail FX brokers around the world. The survey asks senior decision makers at retail brokers what they thought their biggest opportunities and challenges would be in the new year. This…
Read moreCySEC threatening FX brokers if they don't settle quietly and pay large fines. LeapRate Exclusive -- Some very strange pronouncements have been coming lately from Cyprus' financial regulator CySEC relating to FX brokers. For example yesterday we see CySEC announce a €50,000 fine against eToro, with no real explanation given. (The press release mentioned a very vague…
Read moreCantor Fitzgerald, Gain Capital (Forex.com), and City Index have made "preliminary approaches" to LCG. Well, looks like we were right. After we reported this morning that the recent rise in London Capital Group's share price is likely attributable to M&A activity surrounding the company, London Capital Group itself confirmed in a press release just moments…
Read moreCFTC December data shows some big changes in the US retail FX market. The CFTC has published its December data for retail FX brokers, and it includes some somber news for the US retail FX industry. Overall, US Forex assets shrunk by more than $100 million in December, by about 14%, to $641 million (see table…
Read moreLCG shares shoot up 11% on Monday with no apparent new news. After we saw shares of ICAP and IG Group rise last week following some healthy January volume reports, today's turn for a buying frenzy goes to London Capital Group. LCG shares traded up more than 11% on Monday, now sitting at £0.40. The company's…
Read moreBNY Mellon joins FXCM and Credit Suisse, becomes both an owner and client of FastMatch. BNY Mellon announced that it has taken an ownership stake in the new Forex ECN FastMatch, joining FXCM and Credit Suisse in the ownership group. FastMatch and Tradition et Cie's ParFX are vying to compete with the existing incumbents in…
Read moreFXCM's January volumes total $479 billion, one of its best months ever. Well, now it looks official -- January was a great month in retail FX all around. Leading retail FX firm FXCM, the world's largest online FX broker, announced its January trading activity levels, with retail volumes up 22% from last January, coming in at…
Read moreMisys CMS customers to use MarkitSERV's SWIFT interface. MarkitSERV, which provides electronic trade processing services, and financial software company Misys announced a joint effort to provide enhanced FX clearing capabilities. The partnership is driven by new regulations requiring central clearing included in Dodd-Frank -- other jurisdictions are also expected to make it mandatory to clear FX. The partnership will…
Read moreJanuary was a very strong month across the board in the FX world. After a 2012 which many FX brokers want to forget, as low market volatility kept trading volumes low, 2013 has clearly begun with a bang. After healthy January volume reports from Forex ECN ICAP EBS and from the CME Group (FX futures)…
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