Retail
Hotspot expands footprint in Russia
IZHEVSK - Hotspot FX expanding its footprint in the Russian retail foreign exchange market by streaming liquidity to Izhevsk-based Izhcombank's margin forex trading platform.
e-FX AWARDS 2008: A celebration of innovations and evolution
The e-FX awards celebrate best practice and innovation in the forex market. The increasingly demanding needs of clients from the sell side to the buy side have meant technological developments continue at full throttle. This year was no exception. In…
Icap breaks into retail forex market
LONDON - Icap is breaking into the lucrative retail foreign exchange market by teaming up with London-based retail equity and FX trading sister company City Index, senior officials tell FX Week .
Saxo Bank gains French foothold
PARIS - Saxo Bank plans to acquire Paris-based online foreign exchange broker Cambiste in a seven-figure deal, in anticipation of demand for forex and contracts-for-differences (CFDs) trading in the local French market.
Japanese retail forex boom expected to continue
TOKYO – The boom in retail margin foreign exchange trading in Japan is likely to continue, according to research by Boston-based consultancy Celent.
CFTC fines firm $260,000 for lack of capital
WASHINGTON & VIRGINIA - The Commodity Futures Trading Commission (CFTC) has ordered a US retail foreign exchange trading company to pay $260,000 to settle charges relating to undercapitalisation.
Watching the market in 3D
Chip Lowry, senior managing director of Currenex, and John Vause, managing director of State Street's Global Link business for Europe, the Middle East and Africa, evaluate the evolution of the FX market's structure
Small retail FX firms face extinction
Felix Shipkevich, general counsel, and Anna Vidiaev, staff attorney, at online foreign exchange trading company Capital Market Services in New York say a proposed rise in capital requirements for retail brokers will result in an anticompetitive market
BoA and Deutsche shake-up e-FX
NEW YORK - Bank of America (BoA) and Deutsche Bank have realigned the senior management of their electronic foreign exchange businesses, and have seen senior departures from the banks in New York and London.
Banks continue to target retail forex
SALT LAKE CITY - Two major banks have made moves to benefit from the burgeoning retail foreign exchange market.
Small US retail forex firms set to "suffer"
NEW YORK - New legislation passing through the US government is likely to consolidate the retail foreign exchange industry, as proposals to dramatically increase minimum adjusted net capital requirements squeeze small operators from the market.
HotspotFX in white-label talks for retail offer
JERSEY CITY - HotspotFX is in talks with an undisclosed number of banks for the use of its retail electronic communications network (ECN) platform, HotspotFXr, following a global rollout of the platform at the beginning of this year.
NFA bans retail FX broker after failed cover-up
CHICAGO & LONDON - The US National Futures Association (NFA) has permanently barred Florida-based retail foreign exchange broker World Trade Financial (WTF) from NFA membership for a failed cover-up.
NFA cracks down on AMI
CHICAGO & LONDON - The US National Futures Association (NFA) has set a precedent by ordering one of its brokerage members to only solicit promotional material from companies registered with the Commodity Futures Trading Commission (CFTC) and the NFA.
Saxo Bank sells 5% stake for $92m
COPENHAGEN, LISBON & LONDON - Espirito Santo Financial Group (ESFG) and subsidiary Banco Espirito Santo Group (BESG) have bought a 5% shareholding in Saxo Bank, in a move to expand the bank's electronic capabilities.
NFA shuts down four FX dealers
CHICAGO - Four foreign exchange brokers were forced to close operations last month after failing to meet the National Futures Association's (NFA) $5 million minimum net capital requirements.
Citi and Goldman break into retail FX
NEW YORK & COPENHAGEN - Citi and Goldman Sachs are breaking into the retail foreign exchange market by launching an online FX margin trading platform and buying a 10% stake in an online retail CFD company, respectively.
Retail sets the pace for future of forex
LONDON - The retail market is likely to set the standard for the future of foreign exchange, said panelists at the FX Week Europe conference last Tuesday.
Saxo and JDFX offer risk management online
COPENHAGEN & ZURICH – Saxo Bank and Zurich-based foreign exchange trading company JDFX are today releasing Meta RMS, a risk management software package within JDFX’s online trading front end, MetaTrader.
Capital enters retail FX
LONDON - Capital Forex, the FX arm of online trading company London Capital Group, is white-labelling Currenex's technology to break into the retail foreign exchange market.
FX Solutions launches new platform
NEW JERSEY – Online retail trading company FX Solutions is releasing version two of its trading platform FX Solutions Trader today (September 17).
Retail forex traders will bounce back
Retail foreign exchange traders were among the hardest hit in the August turmoil, where risk aversion led to a sharp reversal in carry trades. But it looks like many market participants haven't been deterred from pursuing the potentially lucrative…
Deutsche adds in online flow
LONDON – Deutsche Bank has hired Eric Michelsen as head of online flow retail products. Based in London, he will play an integral role in developing Deutsche's global markets multi-product distribution business.