KPMG 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 moreFXCM's initial confirmation of negative client balances was $225 million, however it has now been revealed that it stands at $276 million. With a $51 million gulf, and only a handful of brokers having reported their negative equity exposure, what is the true cost? LeapRate takes a detailed look
Read moreFXCM has made a commercial statement, affirming that on January 15, 2015, the Swiss National Bank (SNB) caused a flash crash that lead to historic dysfunction never seen before in the FX markets when it announced that it was completely removing the 1.20 floor
Read moreAlluding to Switzerland's decision to remove the 1.20 peg on EURCHF last month having been an effort to shore up the nation's vault-like economy, Switzerland's FX reserves have risen by CHF 11 billion in February, an all time high in the first whole month since the dramatic move by the country's central bank
Read moreDenmark's Nationalbanken purchased $16.34 billion worth of foreign currency in January 2015, which translates to 106.3 billion Danish Krone, the highest amount ever, as the nation's economists attempt to maintain the currency's peg at a time when the Euro is floundering
Read moreFXCM Global Head of Dealing Eduard Yusupov had pledged 1.2 million units of FXCM Inc (NYSE:FXCM) stock with a broker as collateral on a margin loan facility. As a result of the events of January 15, the broker foreclosed on the collateral, which has now been sold for $2.43 million. Prior to January 15, this amount of FXCM shares would have been worth closer to $20 million
Read moreInvast's Australian operations has completed a review of all CHF positions for potential adjustment, and concluded that no client adjustments are necessary, with full financial strength being maintained by the firm
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