Tag: swiss franc rise

February 03, 2015 BY Maria Nikolova

Liquid Markets appoints special administrators from Baker Tilly Restructuring and Recovery

Liquid 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…

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January 30, 2015 BY Maria Nikolova

KPMG confirms: Alpari UK's clients have to repay negative balances

The administrators from KPMG, who have been in charge of Alpari UK after the FX broker filed for insolvency less than two weeks ago, today issued a rather disappointing update for the clients of troubled company. In the announcement, dated January 30, 2015, the administrators say they are still in the process of analysing the…

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January 28, 2015 BY Maria Nikolova

Swiss franc fluctuations cost Japan's futures industry JPY 3.39 billion

The Financial Futures Association of Japan (FFAJ) has joined the lineup of regulators to have quantified the impact “Black Thursday” events have had on the national financial industry. The matter is sensitive for Japan, a historical fortress for Forex trading. We saw some troublesome developments in the Land of the Rising Sun over the past…

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January 27, 2015 BY Maria Nikolova

Forex broker Liquid Markets stops operations due to “Black Thursday” losses

After close communication with the FCA, it was determined the only step forward for FX provider Liquid Markets is to cease carrying on any business that involves the carrying on of any regulated activities.

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January 16, 2015 BY Maria Nikolova

Leucadia extends $300m in financing to FXCM

Leucadia National Corp. (NYSE:LUK), the New York-based financial conglomerate, will provide $300m in financing to FXCM Inc (NYSE:FXCM), the retail FX giant, allowing it to stay afloat and keep operations. The investment is done in the form of a $300 million senior secured term loan with a two-year maturity and an initial coupon of 10%.…

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January 16, 2015 BY Maria Nikolova

MB Trading reports minimal impact from CHF volatility

MB Trading, the financial brand uniting Manhattan Beach Trading Financial Services, Inc. and MB Trading FX, announced today it had felt a minimal impact from the Swiss National Bank (SNB) surprise action on Thursday morning. There are no consequences for the group's capital and its ability to meet regulatory capital requirements, the US online trading…

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January 16, 2015 BY Maria Nikolova

Varengold Bank continues operations undeterred by CHF volatility

Since at LeapRate we try to provide you with a comprehensive and detailed picture of the aftermath of Swiss franc fireworks on Thursday, we cannot skip to mention the position of at least one German Forex broker, given the core role the German economy plays for the eurozone and Europe as a whole. A representative…

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January 16, 2015 BY Maria Nikolova

Jefferies Group may provide $200m assistance to FXCM

According to a report by Bloomberg, quoting people with knowledge of the matter, Jefferies Group has entered discussions with FXCM Inc. (NYSE:FXCM) to provide the retail FX broker with $200 million in cash assistance. As LeapRate reported earlier, the US retail FX giant has suffered a $225 million hit due to the adverse trading of…

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January 16, 2015 BY Maria Nikolova

EXNESS says business not significantly affected by CHF moves

Earlier today, international retail Forex broker EXNESS issued an announcement, explaining the consequences of the Swiss currency moves on the financial status of the company. Due to measures taken by the company regarding trading with all instruments featuring CHF, the business suffered a minimal impact from yesterday’s events: overall losses amounted to only 1.6% of EXNESS's…

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January 16, 2015 BY Maria Nikolova

Swiss currency surprise brings new clients to Saxo Bank

Saxo Bank, the Danish based online multi-asset trading and investment specialist, is experiencing a fresh inflow of clients today in the aftermath of yesterday’s significant changes in the Swiss currency crosses. Steen Blaafalk, Global Head of Finance and Risk Operations, Saxo Bank A/S, said: “We have seen an increased number of new clients this morning…

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