Forex Magnates

SmartTrade Technologies powers FXSpotTream Liquidity

Adil Siddiqui — Wed, 16 May 2012 16:05:17 +0000

SmartTrade Technologies today announced that FXSpotStream LLC, the recently announced multibank Spot FX price aggregation service, is powered by smartTrade’s Liquidity Management System. From FXSpotStream’s initial hosting site in the U.S., smartTrade’s technology supports the FXSpotStream multibank FX aggregation service allowing clients to access liquidity from the FXSpotStream liquidity providers through a single API (application programming interface).

Clients can place … [visit site to read more]

Alpari Launches Dukascopy’s JForex PAMM Solution

Michael Greenberg — Wed, 16 May 2012 15:32:28 +0000

Alpari US announces the launch of the JForex PAMM system powered by Dukascopy. Alpari US licensed Dukascopy JForex platform last year as due to Dodd-Frank rules Dukascopy was required to stop accepting US clients. Dukascopy had to decide what to do … [visit site to read more]

Saxo Bank appoints new Chairman – Dennis Malamatinas

Michael Greenberg — Wed, 16 May 2012 14:56:19 +0000

Saxo Bank, the online trading and investment specialist, announced today, after its board meeting, the Bank’s new Chairman of the Board. Dennis Malamatinas, … [visit site to read more]

FXCM Officially Launches App Store for Traders

Michael Greenberg — Wed, 16 May 2012 12:40:02 +0000

We discussed this few weeks ago with Sameer Bhopale FXCM’s CMO. FXCM’s app store intends to provide traders with the most useful and popular applications as well as allowing and helping developers create their own apps and distribute them. The model is not new – Apple’s success is attributed to its apps store, among other things, and if successful for FXCM will considerably boost … [visit site to read more]

ICAP reports preliminary 2011-2012 results, revenue down 3% profit up 1%

Michael Greenberg — Wed, 16 May 2012 08:05:43 +0000

Preliminary statement for the year ended 31 March 2012

Review of operations

For the year ended 31 March 2012, the Group reported revenue of £1,681 million, 3% below the prior year. Uncertainty in the Eurozone and constraints on market liquidity resulted in a fall in voice revenue and a marginally lower performance in our electronic business. In contrast, the post trade risk and information business saw strong growth.

The Group reported an operating profit* of £372 … [visit site to read more]

DTCC sets foot in India

Adil Siddiqui — Tue, 15 May 2012 23:20:44 +0000

The Depository Trust & Clearing Corporation announced that it is expanding its India business centre in Chennai, India’s “tech centre,” into a technology infrastructure support and development office to help bolster its core, global, round-the-clock transaction processing, funds delivery and data storage businesses.

Over the next two years, DTCC plans a substantial expansion of its full-time staff in Chennai. In anticipation of this growth, the office has relocated to a … [visit site to read more]

Social Brokers Merge: Tradeking and Zecco

Adil Siddiqui — Tue, 15 May 2012 16:53:44 +0000

TradeKing and Zecco, the industry’s first two socially-enabled online brokerages, announced today they have agreed to merge their businesses. This merger creates a compelling alternative in the marketplace for independent investors, one with scale and resources to compete, but with the mission to challenge traditional offerings and client experiences to deliver outstanding value for online investors. Financial terms of the merger were not disclosed.

“TradeKing and Zecco … [visit site to read more]

Interbank FX and Luis Rivas sued for allegedly defrauding clients

Michael Greenberg — Tue, 15 May 2012 13:11:35 +0000

In a case submitted to the United States district court for the eastern district of Tennessee the group of 12 Plaintiffs claims that it was defrauded by IBFX (now subsidiary of TradeStation) and a money manager named Luis H. Rivas for about $25 million.

The Plaintiffs claim two things – that IBFX used deceptive marketing tactics and that Luis Rivas lost most of their money in what turned out to be a ponzi scheme. IBFX’s role in this suit however is not very clear as traders who … [visit site to read more]

City AM Active Trader Event in Association with IG Index and FXCM 24th May 2012

Adil Siddiqui — Tue, 15 May 2012 06:38:49 +0000

London will be home to a specialist Traders event courtesy of City AM, a leading daily financial news publication. The event aims to give traders insight and knowledge on key topics to boost their trading experience. Industry giants IG Index and FXCM will be sponsoring the event.

[visit site to read more]

Metaquotes integrates MT5 with Integral’s FX Grid

Michael Greenberg — Tue, 15 May 2012 06:26:08 +0000

Metaquotes continues its effort to plug Metatrader 5 platform into as many liquidity sources as possible. Latest were Currenex and CitiFX Pro. Connecting to Integral’s FX Grid will allow brokers with the right liquidity relationships to plug MT5 to liquidity pools they are able to … [visit site to read more]