A look back at the most intriguing and popular Forex industry news stories from the past week at LeapRate. To make sure that you receive timely access to all LeapRate articles… Sign up to our Daily Forex Industry Newsletter on the right. →
Well, a simple weekly featured post review can not sum up the amount of turmoil the Swiss National Bank (SNB) unleashed on the Forex industry and market last week. We will in due time provide a detailed industry review and analysis the Swiss Franc upheaval caused. The week started off with forex brokers reporting healthy volume figures for December with Saxo Bank reporting no significant drop off, while Gain Capital and FXCM both reported MoM increases, the Moscow Exchange also reported it’s best month ever. What looked like a relatively normal week turned into mayhem on Thursday when the SNB removed the 1.20 EUR/CHF cap which caused a dramatic spike in the value of the Franc unleashing havoc of the FX and investment industry.
To get a rundown of every industry news piece related to the CHF spike from the last week you will have to check out LeapRate’s News Archive. Below we highlight a couple other interesting stories and also some burning stories from “Forex’s Black Thursday,” which we will continue to report on throughout the coming weeks. In a game changing instant, forex firms went belly up, forcing the whole brokerage industry to put out statements regarding the impact to company finances. The CFH move even put a nail in the coffin of a massive $800m hedge fund, when Everest Capital’s Global Fund lost almost everything causing it to shutdown.
To check out all the highlighted weekly review stories, click on the short links below:
IronFX CEO interview | https://www.leaprate.com/LXL82
Swiss National Bank drops EUR/CHF cap | https://www.leaprate.com/SPFdP
Excel Markets out of business | https://www.leaprate.com/C0f7S
Alpari UK enters insolvency? | https://www.leaprate.com/YJelr
GAIN Capital – Made a profit Thursday | https://www.leaprate.com/2cMuQ
Leucadia extends $300m in financing to FXCM | https://www.leaprate.com/btDVr
BATS in talks to buy GCK’s Hotspot ECN | https://www.leaprate.com/K6if2
LeapRate Exclusive: Skrill suspending payouts to certain Forex brokers | https://www.leaprate.com/67jho