As we said they would, retail forex broker FXCM Inc (NYSE:FXCM) has issued a formal statement in reply to yesterday's news that the CFTC was now charging FXCM with undercapitalization related to the 2015 Swiss Franc spike - more than a year and a half after the event, and after the issue had been rectified. And, as…
Read moreIn a very bizarre filing, the U.S. Commodity Futures Trading Commission (CFTC) filed a civil enforcement action today against the Forex Capital Markets LLC unit of Retail Forex broker FXCM Inc (NYSE:FXCM), charging FXCM with undercapitalization, failure to timely report its undercapitalization violation, and guaranteeing against customer losses. What's bizarre about the CFTC filing? The filing…
Read moreCyprus financial regulator CySEC has issued a note to all regulated entities on the island, asking them to report the effect of post-Brexit vote trading. The note, signed by CySEC Chairman Demetra Kalogerou (pictured above), asks all CIF regulated entities to report the amount of their own funds, and their capital adequacy ratio to CySEC. It…
Read moreLeapRate takes a deeper look at understanding FXCM's half-billion dollar loss in 1H-2015 - and why FXCM shares are trading so low.
Read moreThe net loss from continuing operations amounted to $393.3 million, whereas the loss from discontinued operations totaled $33.5 million.
Read moreBrokers, traders and regulators are each reexamining the dangers of excessive leverage as the forex industry continues to consolidate and adapt to a new environment.
Read moreClients subject to the Negative Balance Policy who incur negative balances in excess of US $50,000 (determined by aggregating all of the client's negative balances across all accounts held by FXCM and any of its affiliates
Read moreKPMG has notified that CCI Legal is formally authorized to act on behalf of the Company and the Joint Special Administrators to assist in the recovery of debts due from clients with negative balances.
Read moreLiquid Markets, the UK Forex broker that was forced to halt operations in the aftermath of the events on “Black Thursday”, has just announced the appointment of special administrators from Baker Tilly Restructuring and Recovery LLP. Matthew Haw, Graham Bushby and Matthew Wild will act as Joint Special Administrators of the Forex broker under an order…
Read moreContinuing our series of interviews with top executives from some of the world's leading forex brokers, today we get the perspective from Down Under on how firms dealt with the Swiss Franc crisis and what followed.
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