News/Retail
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).
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.
US regulators clamp down on retail FX dealers
CHICAGO – The National Futures Association (NFA) last week (July 24) took emergency action against Fort Lauderdale-based forex dealer member (FDM) Nations Investments, for being undercapitalised by $3.5 million – the largest undercapitalisation seen by…
VWD switches FX providers to Tenfore
FRANKFURT – Data vendor VWD Group is to replace FX data provided via its internet- and terminal-based data products with new data sourced from UK-based Tenfore Systems' Tenforex feed, officials said.
Who's who on the exhibition floor?
FX Week gives a rundown of some of the top exhibitors at this year's event. Find out who's showcasing what, then see the box on the next page for your entertainment listings
CFTC charges unregulated futures brokers
WASHINGTON DC – The US futures regulator is continuing to battle FX fraud in the country, with charges hitting unregulated FX futures brokers and online retail trading platforms.
Forex drives major bank earnings
ZURICH, UK AND COPENHAGEN - European banks have reported a strong set of results for 2006, with FX businesses playing a key role.
Retail FX offers lucrative returns
LONDON - Retail FX traders account for $50 billion of the $2.5 trillion a day FX market, according to research released last week.
Texas court fines PIC $123 million
WASHINGTON DC – The Texas Federal Court has levied more than $123 million in fines and restitution, in a case filed against Premium Income Corp (PIC) and its affiliates, Inforex and Tri-Forex International.
Algo trading goes mainstream
COPENHAGEN – Saxo Bank is bringing algorithmic trading into the mainstream with plans to launch an algo trading tool for retail investors this quarter.
Algo trading goes mainstream
COPENHAGEN – Saxo Bank is bringing algorithmic trading into the mainstream with plans to launch an algo trading tool for retail investors this quarter.
Regulator forces COESfx to close to new clients
PLAINVIEW, NEW YORK – COESfx, a US-based retail foreign exchange platform, was forced to close to new customers earlier this month after a regulator found that its books did not balance.
FX volume to exceed $3 trillion by 2007: TowerGroup research
NEEDHAM, MASSACHUSETTS – Global FX daily average volumes will reach $3.6 trillion by 2007, according to research released last week.
How Saxo gained the Midas touch
Lars Seier Christensen and Kim Fournais have seen their business plan unfold since 1992 from FX broking boutique to billion dollar internet bank, reports Rob Shepherd
COESfx fined over fraud
WASHINGTON, DC – Two more cases of forex fraud were revealed last week, with US FX platform COESfx fined for misleading customers who suffered heavy trading losses.
FX investors defrauded
FLORIDA – Some 250 retail FX investors are set to receive $2.7 million in compensation, after a fraud committed by Gibraltar Monetary Corporation was uncovered by the CFTC.
Retail rollout for major banks
GLOBAL – A number of banks are launching retail FX offerings this year as they see growing opportunities for attracting flow from this market.