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The Foreign Exchange Committee launched its inaugural Survey of North American Foreign Exchange Volume in October 2004 in order to provide the market with frequent information on the size and structure of foreign exchange activity in North America. Below are the results of the October 2009 semi annual survey. While the bottom line isn’t surprising as the [...]

NFA has just ordered Kingz Capital Management Corporation (KCM) to permanently withdraw from NFA membership and permanently barred its Principal David Michael Stephen Krywenky. It appears that KCM and Krywenky were involved in the the high profile Twin Cities / Crown Forex S.A. alleged scam scandal. Apparently Twin Cities’ Trevor Cook managed investor funds in [...]

FXOpen, the broker which only recently launched the ECN PAMM service, has announced that the results are now live and available to the general public. (PRWEB) January 28, 2010 – FXOpen Investments Inc., one of the world’s largest brokers and a worldwide leader in Metatrader Technology, has just announced the release of another exciting feature – [...]

A week after most of large US brokers have issued a collective statement and united under the FXDC (Forex Dealers Coalition) brand name they have also issued their own statements regarding the proposed CFTC rules concerning leverage and IB relationships. The FXDC is now comprised of: GFT, Oanda, IBFX, Gain Capital, FXCM, FX Solutions, FXDD, PFG [...]

Guest post by Currensee. John Forman is a Forex author and expert. He is the Senior Foreign Exchange Analyst for the IFR Markets group of Thomson Reuters and frequent blog poster on Currensee.com. There’s a lot of misinformation out there when it comes to retail foreign exchange trading. I was recently pointed to a blogger [...]

MB Trading is not part of the Forex Dealers Coaltion (FXDC) as far as I know yet it issued its own statement regarding the upcoming rules. Dear MB Trading FX Client, On January 13, 2010, the CFTC announced proposed new regulations concerning retail foreign currency transactions. Many of the proposed changes would implement important consumer [...]

The joint venture between CLS Group and Traiana, an Icap company, to provide trade aggregation services to participants active in the over-the-counter FX market has gone live. The service, known as CLSAS, aims to reduce operational risk, lower post trade costs and rationalise and consolidate legacy post-trade processes throughout the global FX markets. Only aggregated [...]

Oanda is the largest broker in the US (retail and institutional wise) and Daewoo is one of South Korea’s largest brokers with over $1 B in sales in 2009. Daewoo Securities announced yesterday that it offers local futures product, overseas exchange traded futures, and FX margin trading. Local futures products includes interest rate, currency and [...]

After all the dust settled following two weeks of cross-industry rage regarding the new CFTC requirements it’s now time to take a more sane review at the upcoming regulations. Two biggest and most concerning issues proposed by the CFTC are the 1:10 leverage forced on traders and severe limitations placed on IBs. Regarding leverage the implications [...]

Quick recap: To those who don’t remember: Crown Forex S.A. was a forex broker based in Switzerland. On 29/05/2009 FINMA closed Crown Forex S.A because of potential liquidity problems. FINMA is investigating the company and its executives. A month later we learned that there was another scandal associated with this broker – a Twin Cities fund manager [...]