It was a busy week to kick off May within the FX industry, across both retail and institutional platforms we saw some major moves. Firstly, Integral introduced OCX, a $275 per month subscription fee for online FX trading and INTL FCStone announced an extension of OTC FX products to users of CQG.
Within the retail oriented segment Finland based broker FinFX made some surprising news as they merged their retail business with CySEC IB and partner oriented brokerage Best Choice FBC Ltd. Also, FXDD launched an offshore based service based out of Bermuda offering less restrictions on trade including higher leverage backed up by FXDD quality.
LeapRate TV: James Glyde of Spotware Systems | https://www.leaprate.com/4VfjA
INTL FCStone/CQG | https://www.leaprate.com/yEhJ6
EXNESS pays $8.1m in Affiliate and IB commissions in Q1 | https://www.leaprate.com/e7Hq2
Integral introduces OCX unlimited screen trading | https://www.leaprate.com/cXN2T
‘FXDD Trading’ | https://www.leaprate.com/x1jJw
Jesse Powell, CEO of Kraken | https://www.leaprate.com/g32fk
FinFX merges retail business | https://www.leaprate.com/D7ENx
KPMG/Alpari UK update | https://www.leaprate.com/4rHd3
Weekly Forex Industry Rundown
Volumes
- CLS daily input volumes stage 12.7% M/M rise in March 2015
- Hotspot FX posts 10% drop in April trading volumes to $28.4 billion ADV
- TFX Click365 April volumes come in down 6.5% MoM
- Interactive Brokers daily volume remains steady in April, margin loans increase by 8% over March
Interviews
Warnings/Fraud Watch
- FCA issues warning regarding unlicensed FX firm KSFTrade
- CFTC bans Florida man for deliverable precious metals transaction fraud
- City of London Police arrest currency trader linked to suspected global Ponzi scheme
- CFTC charges North Carolina man in $2M plus Forex investment pool fraud
Legal
- CFTC enforces no-leveraged-commodities-trading rule against My Global Leverage, LLC
- ASIC fines FCStone Australia $130,000 for administrative failings
- Forex experts to need special certificates in Russia
- Bank of America to settle private Forex manipulation lawsuit for $180 million
- Royal Bank of Scotland earmarks new $515M for Forex fines
Financial
- Upbeat profit forecast sends KVB Kunlun’s shares up 9%
- Moscow Exchange shareholders agree on RUB 8.82bn in dividends for FY 2014
- BGC Partners posts record earnings in Q1 2015
- Swiss National Bank action on January 15 cost it CHF 41 billion
- Monex Group monthly revenues in March are best since 2013
- GMO Click sees operating profits surge 60.8% Y/Y in Q1’2015
- CME Group records 24% rise in net income in Q1’2015
- KCG reports consolidated Q1 earnings of $249.3 million; Dividend stands at $2.19 per share
Executive Moves
- Former BNP Paribas Global Head of FX Prime Brokerage Marco Baggioli becomes COO of ADS Securities London
- Currency Cloud appoints former Deutsche Bank CIO, Mitchel Lenson, as a Non-Executive Director
- Multibank Forex portal 360T expands institutional sales team
Stay tuned for next week’s LeapRate weekly industry look back…