Tag Archives: Forex
CFTC-SEC Statement on MF Global, hundreds of millions of client funds may be missing
1
2011
This story just keeps getting ‘better’ – since yesterday’s post about MF’s possible sale, MF has declared bankruptcy and was trying to be bough by IB. However the deal doesn’t seem to go through as there are suspicions that huge amount of client funds is missing.
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NFA finalizes several new rules – requires more reporting, governs US forex M&A deals
1
2011
NFA has just published set of new rules it has been working on lately. The result is a daily, monthly and quarterly reporting requirement from brokers regarding client positions. NFA also reminds its members of certain key responsibilities and finally published set of rules governing situations of forex M&As – what happens when a US forex broker buys another one and there’s a bulk transfer of accounts. This of course missed quite a few such deals we’ve witnessed this year such as Gain/CMS and Gain/dbFX.
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NEW YORK (Reuters) – Troubled brokerage MF Global Holdings Ltd was nearing a deal late on Sunday night to file for bankruptcy protection and sell assets to Interactive Brokers Group , media reports said.
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The Mankoff company has been leading the herd in educating and bringing industry professionals together in understanding the dynamics of High Frequency Trading in financial markets and other crucial topics including latency, regulations and technology. The next event will take …
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Gain just released its Q3 2011 results which show a solid increase in revenues and improvement in net income. Retail volume was almost unchanged from Q2 2011. Gain’s institutional GTX platform is experiencing high growth and its volumes were $260 billion in Q3 – a little more than third of all Gain’s volume.
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Shares of MF Global plunged to $1.07 on Wednesday when the company reported its largest quarterly loss ever on Tuesday, ($191.6 million loss). Close to 90% of the market cap has vanished since former New Jersey Governor took over as CEO for Brokerage giant MF Global. On Monday Moody’s downgraded MF Global debt to just above junk status. As of Wednesday, the company’s bonds were trading at an 18% yield underscoring a lack of investor confidence in Jon Corzine’s capacity to manage the company as CEO.
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It seems forex signal/trade following is the biggest trend now with just about everybody offering their own version of this – Currensee, Tradency, Zulutrade, FxStat, fxjunction, Collective2, eToro and dozens of other smaller services. Each of these providers has its own platform with or without social aspects, some offer signal trading, others actual traders following. Some platforms are very simple, others are advanced are professional.
Today we see AvaFX (one of the fastest growing fx brokers) partnering with ayondo- a relatively unknown/new signal following service. ayondo seems to be a German venture and has also partnered with UK based ActivTrades.
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