News/Retail

Global FX Division establishes FXPB

The Global FX Division (GFXD) of AFME/SIFMA/ASIFMA announced the formation of a working group to focus specifically on the challenges and issues surrounding global FX prime brokerage (FXPB) and to implement over-the-counter FX clearing for clients.

FXCM raises $50 million for acquisitions

Retail trading company FXCM raised $50 million in primary proceeds for acquisitions in the first day of trade on the New York Stock Exchange on December 2, said company chief executive Drew Niv, in New York.

Retail brokers slammed by NFA

Gain Capital and Ikon Global Markets have been fined by the US National Futures Association (NFA) for practices that put clients at a disadvantage.

IG up despite Japan retail leverage cap

LONDON - IG Group reported a 16% rise in revenues for the third quarter, to £79 million, versus the same period last year, despite new caps on leverage for retail traders in Japan.

Retail brokers evolve to meet regulation

NEW YORK - Retail brokers in the US continue to shape up internal business practices to abide by best practices introduced by industry regulator the National Futures Association (NFA).

CFTC retail FX rules fail to curb offshore trading

WASHINGTON, DC - The US Commodity and Futures Trading Commission's (CFTC) compromise to limit leverage on retail FX trading accounts to 50:1 from a proposed 10:1, is unlikely to curb the shift of retail business offshore, according to market participants.

CitiFX Pro to launch in Singapore

SINGAPORE & LONDON - CitiFX Pro, Citi’s margin foreign exchange trading platform, will launch in Singapore soon, targeting small institutional clients, said Kevin Wilson, director of margin FX trading for Citi's institutional clients group in New York.

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