Brokers News, Page 11

  • MarketFactory Hires Toland as Sales Head, Interactive Brokers’ Fortunes Rise

    MarketFactory, a leading foreign exchange software and services provider, has hired Steve Toland to the role of Vice President of Sales. Toland will help propel the company’s access into new markets and improve monitoring technologies.Before joining LMAX Exchange, Toland previously worked at LMAX Exchange as the Head of LMAX Interbank,

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  • FXTM Partners launches $20,000 competition to reward the top Introducers

    FXTM Partners launches $20,000 competition to reward the top IntroducersFXTM Partners has launched a new competition to discover the top forex Introducers and reward them for bringing new clients to international forex broker, Forex Time (FXTM). Providing credence to the common phrase “It’s not what you know, but who you

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  • KCG Looking for Buyers for HotSpot Platform

    Trading firm KCG Holdings Inc plans to raise more than $300 million from the sale of its FX unit, according to sources privy to the matter.KCG is partnering with Jefferies Group LLC as it seeks potential buyers of its HotSpot platform. Such buyers include Intercontinental Exchange Inc, CME Group Inc.,

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  • OANDA in Partnership with MultiCharts as It Expands its Options

    Canadian retail FX firm OANDA has entered into a partnership with MultiCharts, a multi-asset trading platform, in order to expand the range of trading opportunities available to its clients.At the moment, the two firms are beta-testing an OANDA plug-in on MultiCharts. Anybody who wishes is eligible to take part in

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  • EU Turns to Facebook Messages for FX-Rigging Evidence

    European Union regulators are investigating messages by foreign-exchange dealers on Facebook Inc. as they widen their probe into allegations of malpractices by banks past instant messages and work e-mails.All the banks involved have been requested to avail all communications between dealers, with social media not being left out. This is

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  • MONEX Group Announces Schedule for Phasing out MetaTrader 4

    Japanese retail FX broker MONEX Group has formally announced its takedown of its MetaTrader trading platform after its subsidiary IBFX sold its MetaTrader 4 client portfolio to rival broker FXCM at a fee of $4.4 million.The phase-out of MetaTrader 4 platform now means MONEX can concentrate its efforts on its

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  • FX Probe Could See Settlements Top $41 Billion, Citigroup Analysts Say

    Citigroup Inc. analysts estimate that investigations into claims of foreign-exchange benchmarks fixing could see banks potentially pay up settlements worth $41 billion.German lender, Deutsche Bank AG is expected to bear the huge brunt of the fines, potentially facing penalties of up to 5.1 billion euros ($6.5 billion). The fines are

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  • CME Records New Daily Transaction Record, Fortress Hires MD for Singapore

    CME Group reported that transactions touched a new daily record on Wednesday, with 39.6 million contracts executed. This erased its previous record of 27 million contracts set in May 29th, 2013, representing a gain of 47 percent.Trading volumes of the company’s Globex platform used for trading options and futures posted

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  • CME Group Says it Will Lay off 150 Staff as Part of Restructuring Plan

    Leading retail FX broker CME Group on Tuesday announced plans to lay off 150 staff, or about 5 percent of its global workforce. Most of the job cuts are in the technology division, with the rest spread across administrative and corporate functions.“Our industry has transformed significantly over the past five

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  • AMF to Educate Potential Investors against FX Trading Risks

    Autorité des Marchés Financiers (AMF) warned against the risks of FX trading as the number of investor complaints keep piling up.Though AMF regulates various unauthorized Binary Option and FX providers, it has launched an initiative aimed at sensitizing potential investors about the probable risks of FX trading. Its study showed

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  • Thomson Reuters Announces Trading Metrics for September 2014

    Thomson Reuters released its trading metrics for the month of September, which showed that spot average daily volumes (ADV) stood at $144 billion, compared with $107 billion in August, an increase of 34.6 percent MoM.The spot forex ADV in September 2013 totaled $119 billion, hence last month’s figures represents an

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  • GAIN Capital Releases September 2014 Trading Report

    Leading FX broker GAIN Capital announced its trading metrics for September 2014 on Thursday, which showed spectacular performance in the month. The company reported total trading volumes of $680 billion in September, compared with $528 billion in August, which represents a gain of 28.8 percent.The retail OTC trading volumes stood

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  • China to Allow Non-Banks to Trade in Interbank FX Market

    In what appears as an attempt at loosening its vice-like grip on the country’s financial markets, Beijing has announced that it will allow non-banks such as insurance firms, trust institutions and brokerages to participate in the interbank FX market.The move is also the most significant attempt at liberalizing China’s foreign-exchange

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  • Saxo Bank Reports Trading Volumes Rose 51 Percent

    Saxo Bank reported that trading volumes in September rose at least 51 percent from the prior month to $321 billion, the most since May 2013.The volumes were also up 46 percent from September 2013 rising FX volatility due to the Scotland’s referendum vote, the slowing Japanese economy as well as

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  • Interactive Brokers Announces September’s Performance Metrics

    Leading American retail FX broker Interactive Brokers Group, Inc., reported its monthly trading metrics for the month of September 2014. The figures are mixed though much better than for the previous year.Interactive Brokers announced that the Daily Average Revenue Trades (DARTs) in September were 17 percent more than in August

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  • ICAP Expects Revenues in the First Half to Drop 10 Percent

    Leading financial services firm ICAP reported a trading update on Tuesday outlining its performance in the first half of its fiscal year, which ended on September 30, 2014. ICAP netted revenue of 736 million pounds in the first half of 2013, and is scheduled to announce results for the first

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  • Russia to Lower Minimum Capital Requirements for FX Brokers

    The Russian parliament’s lower chamber (State Duma) lowered is set to debate on a Forex bill in October, which if passed, will lower the amount of capital needed to establish a Forex brokerage to $76,000.The State Duma will vote the second time to pass the bill that seeks to regulate

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  • U.K. Financial Conduct Authority Won’t Fine Individual Traders

    The U.K. Financial Conduct Authority has no plans to fine individual forex traders as the watchdog nears settlements with lenders they are employed at.The regulator is partly attempting to prevent the investigation from extending for a long time like the Libor-manipulation probe, where individual dealers have been slapped with fines,

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  • Nomura Once Again Tops Foreign Exchange Research Awards

    Japanese financial services giant Nomura has once again been ranked the # 1 leading source of Foreign Exchange Research in the Institutional Investor All-America Fixed Income Research poll for 2014. This is the fourth consecutive year it has topped the rankings.The company also performed strongly in all Securitized Products classifications,

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  • Monex to Pay Dividend to Shareholders, Releases August Metrics

    Japanese FX broker Monex Group plans to pay dividends to its shareholders for the second quarter of its financial year. The company also revealed the financial impact of its sale of MT4 client accounts that were held by its subsidiary, IBFX, to FXCM early September.Monex expects the sale to translate

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