Francesc Riverola's Blog – July 2011 Archive (81)

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Fed Proposes Standards For Banks Dealing In Forex Transactions

Fed Proposes Standards For Banks Dealing In Forex Transactions

By Jamila Trindle and Jeff Bater at Dow Jones Newswires

- Fed issues proposals on retail foreign-exchange transactions

- Proposals issued under Dodd-Frank, which tightened regulation of such transactions

- Proposals are similar to… Continue

Added by Francesc Riverola on July 29, 2011 at 11:12am — 2 Comments

Swissquote sees marked increase in revenues and profit in the 1st half

Swissquote sees marked increase in revenues and profit in the 1st half

Despite the tense global economic situation and the fairly unmotivating stock market climate in recent months, Swissquote succeeded in lifting revenues year-on-year by 36.1 percent to CHF 67.5 million and net profit by 29.9 percent to CHF 17.8 million in the first half of 2011.… Continue

Added by Francesc Riverola on July 29, 2011 at 10:56am — No Comments

CFTC Charges Susan G.Davis, David E. Howard II, Joseph Burgos And Their Companies With Forex Fraud

CFTC Charges Susan G. Davis, David E. Howard II, Joseph Burgos, and their Companies with Fraud in Off-Exchange Foreign Currency Scheme

The CFTC charged Susan G. Davis of Jersey City, N.J. and St. Petersburg, Fla., David E. Howard II of Woodstock, Ga., and their New York companies, Forex Capital Trading Group, Inc., and Forex Capital Trading Partners, Inc., and Joseph Burgos of…

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Added by Francesc Riverola on July 29, 2011 at 10:20am — No Comments

Nigerian Court Dismisses Lawsuit Against Crown Forex S.A Liquidators

While we wait for news from Crown Forex Liquidators Mr. Laurent WINKELMANN and Mr.Philippe von BREDOW since the last time they had the need to inform victims, that was long long ago in May 27th 2010, today we knew that a Nigerian Judge dismissed a lawsuit against both liquidators from a Nigerian firm 4RX Dimensions Ltd. over alleged breaching of fiduciary obligations.

Francesc…



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Added by Francesc Riverola on July 28, 2011 at 3:59pm — No Comments

Forex Broker iForex Suspended and Fined By Hungarian Regulator. No Longer Registered at UK FSA

This hit the news a few weeks ago but it is worth remembering...

Francesc

 

Forex broker iForex suspended and fined by Hungarian regulator

by Elan Mendel at CFTC Law

iForex, a online foreign exchange (“forex”) broker, has been fined and had its operating license revoked by the Hungarian Financial Supervisory Authority (“HFSA”). The Authority… Continue

Added by Francesc Riverola on July 28, 2011 at 3:37pm — No Comments

Making Forex Safer From Market Disruption

Comment: Making FX safer from market disruption

By Gil Mandelzis at Financial Times

Scanning the headlines in the foreign exchange (FX) industry press, you will notice a distinct lack of hyperbole in the coverage of high-frequency trading when compared with other asset classes.

In its place are stories covering the rapid rise in volumes from… Continue

Added by Francesc Riverola on July 27, 2011 at 11:08am — No Comments

SEC Adopts Interim Final Rule For Forex Brokers

we already knew about that but I found this a very good review of the legal situation of Foreign Exchange in the US

Francesc

 

SEC adopts interim final rule for broker-dealers engaging in retail foreign exchange transactions

By Goodwin Procter LLP at Lexology

The SEC adopted an interim final temporary rule (the “Interim Retail… Continue

Added by Francesc Riverola on July 27, 2011 at 11:00am — No Comments

Dodd-Frank Reforms Pushing FX Investors Towards London?

Surge in London forex trade

By Peter Garnham at Financial Times

Foreign exchange trading volumes in London have risen sharply to record levels, according to data released by the Bank of England.

The surge in activity in London came as turnover in New York and on electronic broking platforms remained relatively stable, suggesting that London… Continue

Added by Francesc Riverola on July 26, 2011 at 3:35pm — No Comments

Bloomberg: Singapore Currency Trading Jumps 14% in April, Survey Shows

Singapore Currency Trading Jumps 14% in April, Survey Shows

By David Yong at Bloomberg

Singapore’s currency-trading volumes averaged $361.5 billion a day in April, a 14 percent increase from October, a survey by the Singapore Foreign Exchange Market Committee showed.

Traditional spot trading, outright forwards and… Continue

Added by Francesc Riverola on July 26, 2011 at 10:02am — No Comments

WSJ: End Of Easy-Money Days in Foreign Exchange For Banks WorldWide?

huge production of news regarding Foreign Exchange today by the Wall Street Journal

Francesc

 

Banks Worldwide See End of Easy-Money Days in Foreign Exchange

By JESSICA MEAD at Wall Street Journal

LONDON--The days of easy money in the foreign-exchange business appear to be over, and banks that jumped late into the $4 trillion-a-day… Continue

Added by Francesc Riverola on July 26, 2011 at 9:57am — No Comments

WSJ: Global Forex Turnover Grows To $4.71 Trillion

Global Forex Turnover Continues to Increase

By JAVIER E. DAVID at Wall Street Journal

Average daily global foreign-exchange turnover has grown to $4.71 trillion according to a Dow Jones Newswires analysis,…

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Added by Francesc Riverola on July 26, 2011 at 9:37am — No Comments

UK Spot Forex Trading Volume Rises 32% In The 6 Months To April

BOE: UK April Daily Forex Trading Turnover Highest On Record

LONDON -(Dow Jones)- Currency trading flows in the U.K.--the world's biggest dealing hub--grew by 23% in the six months to April, taking the daily average to a record $2.191 trillion, data released by the Bank of… Continue

Added by Francesc Riverola on July 26, 2011 at 9:30am — No Comments

Is Forex Broker Country Important? Take The Poll!

Very interesting subject... if you want to participate in the poll, just follow the link... I just did a few minutes ago :)

I found this interesting content by following Yohay Elam's Forex Reads for the Weekend.

Francesc



Is Forex Broker Country… Continue

Added by Francesc Riverola on July 26, 2011 at 9:26am — No Comments

Saxo Bank acquires 25% of Leverate for $12.5 million, Forex Magnates Reports

Saxo Bank acquires 25% of Leverate for $12.5 million

by Michael Greenberg at Forex Magnates

This is probably one of the biggest news this year: Saxo Bank, one of the largest global forex brokers, has just acquired a 25% stake in Leverate, one of the largest MT4 and other forex software and integration providers. Details were not disclosed but my sources… Continue

Added by Francesc Riverola on July 26, 2011 at 9:18am — No Comments

Australia Daily Forex Turnover Rises 12% in April In USD Terms

Australia's Daily FX Turnover Rises In April In US$ Terms

SYDNEY (Dow Jones)--Turnover in Australia's foreign exchange market rose 12% in April in U.S. dollar terms compared with six months earlier, according to data released Monday.

Total average daily turnover in all over-the-counter foreign exchange instruments in the Australian market was US$219.1 billion in April 2011, up 12%… Continue

Added by Francesc Riverola on July 25, 2011 at 9:43am — No Comments

Crown Forex S.A Bankruptcy - SEC Announces Criminal Charges In Trevor Cook Forex Fraud

SEC Announces Criminal Charges Filed in $194M Trading Scheme Organized by Trevor Cook

by Citybizlist

The Securities and Exchange Commission announced that on July 19, 2011, the U.S. Attorney's Office in Minnesota filed criminal charges against Jason Bo-Alan Beckman, Gerald Joseph Durand, and Patrick…

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Added by Francesc Riverola on July 25, 2011 at 9:30am — No Comments

Tokyo Forex Market Average Daily Turnover Up 8.0% In April

Tokyo FX Market Average Daily Turnover Up 8.0% In April
TOKYO (Dow Jones)--The average daily turnover of foreign exchange trading in the Tokyo market in April increased 8.0% from the previous year to $284.6 billion, the Tokyo Foreign Exchange Market Committee said Monday.

Added by Francesc Riverola on July 25, 2011 at 9:25am — No Comments

Forex Fraud - Federal Court Orders J. C. Yancy and Longbranch LLC to Pay More than $2M for Forex Ponzi Scheme

Federal Court in Texas Orders Jeremiah C. Yancy and His Company to Pay More than $2 Million for Foreign Currency Ponzi Scheme and Misappropriation

The CFTC obtained a federal court consent order imposing more than $2 million in restitution and civil monetary penalties on defendants Jeremiah C. Yancy (a.k.a. Jeremiah C. Glaub) of Atoka, Okla., and his company, Longbranch Group… Continue

Added by Francesc Riverola on July 22, 2011 at 2:41pm — No Comments

Foreign Exchange Banks Embarked In A New Race: High-Tech Trading Tools

this article is pretty interesting....

Francesc

 

Banks' Currency Clients Get High-Tech Tools

By ERIN MCCARTHY at Wall Street Journal

The world's largest currency-dealing banks have embarked on a new arms race: developing a new generation of high-tech trading tools to gain and retain clients.

Deutsche Bank AG,… Continue

Added by Francesc Riverola on July 22, 2011 at 10:00am — 2 Comments

WSJ: Retail FX Brokers Shrug Off SEC's Warning To Their Customers

Retail FX Brokers Shrug Off SEC's Warning To Their Customers

By Jessica Holzer and Chana R. Schoenberger Of DOW JONES NEWSWIRES

WASHINGTON (Dow Jones)--It's getting harder to sell currency-trading services to individuals. Regulations stemming from last year's Dodd-Frank financial regulatory law are kicking in, in a bid to curb fraud in the market. Regulators are…

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Added by Francesc Riverola on July 22, 2011 at 9:30am — No Comments

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