FXCM Increases Margin Requirements Date : 01/21/
Post# of 23101
Posted On: 01/23/2015 9:07:59 PM
FXCM Increases Margin Requirements
Date : 01/21/2015 @ 3:10PM
Source : Dow Jones News
Stock : Fxcm Inc. Class A (FXCM)
Quote : 2.37 -0.73 (-23.55%) @ 8:00PM
FXCM Increases Margin Requirements
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Fxcm Inc. Class A (NYSE:FXCM)
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FXCM Inc. said it would increase its margin requirements for foreign-exchange products globally, as well as gold in overseas jurisdictions, pointing to currency volatility that the foreign-exchange broker said could roil markets throughout this year.
The decision, which is effective Wednesday, raises the amount of collateral investors must provide upfront as a percentage of any trade and comes after foreign-exchange brokers like FXCM were hit hard after the Swiss National Bank moved last week to stop reining in the value of the franc against the euro.
FXCM on Friday accepted a $300 million, two-year loan from Jefferies Group LLC parent Leucadia National Corp. to cover client losses stemming from the decision.
In Wednesday's statement, FXCM said it believes there is a high level of uncertainty in the currency markets that could destabilize markets throughout 2015. It specifically pointed to the ECB rate decision on Thursday and the Greek Election on Sunday.
"FXCM would like to reiterate that trading on FXCM's systems continues in the normal course of business," said Drew Niv, CEO of FXCM. "It is important to stress that FXCM isn't insolvent, has not filed for any form of bankruptcy, and is in compliance with all regulatory capital requirements in the jurisdictions in which it operates," he added.
Brokerage Interactive Brokers Group Inc. also said Tuesday that it expects to increase margin requirements. The firm said clients lost about $120 million on Thursday after the franc surged against the euro and other currencies. The broker is unlikely to recover those losses, Chief Executive Thomas Peterffy said.
Write to Tess Stynes at tess.stynes@wsj.com
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Date : 01/21/2015 @ 3:10PM
Source : Dow Jones News
Stock : Fxcm Inc. Class A (FXCM)
Quote : 2.37 -0.73 (-23.55%) @ 8:00PM
FXCM Increases Margin Requirements
Alert
Fxcm Inc. Class A (NYSE:FXCM)
Historical Stock Chart
1 Month : From Dec 2014 to Jan 2015
Click Here for more Fxcm Inc. Class A Charts.
FXCM Inc. said it would increase its margin requirements for foreign-exchange products globally, as well as gold in overseas jurisdictions, pointing to currency volatility that the foreign-exchange broker said could roil markets throughout this year.
The decision, which is effective Wednesday, raises the amount of collateral investors must provide upfront as a percentage of any trade and comes after foreign-exchange brokers like FXCM were hit hard after the Swiss National Bank moved last week to stop reining in the value of the franc against the euro.
FXCM on Friday accepted a $300 million, two-year loan from Jefferies Group LLC parent Leucadia National Corp. to cover client losses stemming from the decision.
In Wednesday's statement, FXCM said it believes there is a high level of uncertainty in the currency markets that could destabilize markets throughout 2015. It specifically pointed to the ECB rate decision on Thursday and the Greek Election on Sunday.
"FXCM would like to reiterate that trading on FXCM's systems continues in the normal course of business," said Drew Niv, CEO of FXCM. "It is important to stress that FXCM isn't insolvent, has not filed for any form of bankruptcy, and is in compliance with all regulatory capital requirements in the jurisdictions in which it operates," he added.
Brokerage Interactive Brokers Group Inc. also said Tuesday that it expects to increase margin requirements. The firm said clients lost about $120 million on Thursday after the franc surged against the euro and other currencies. The broker is unlikely to recover those losses, Chief Executive Thomas Peterffy said.
Write to Tess Stynes at tess.stynes@wsj.com
Access Investor Kit for FXCM, Inc.
Visit
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NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'