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Deutsche Bank to Pay €15 Million in Currency Option Ruling

05 February 2012

A regional court in Frankfurt has ordered Deutsche Bank to pay €15 million in damages to German travel company Schauinsland-Reisen over a currency option product that it sold

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Icap Volumes Hit by Central Bank Interventions

05 February 2012

Icap’s volumes declined in the third quarter amid uncertainty in the Eurozone and as a result of central bank intervention policies, according to the interdealer broker’s interim management statement released last week

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MahiFX Platform to Launch on 20 February

05 February 2012

MahiFX, a company founded by members of the team behind Barclays Capital’s BARX platform, unveiled its new retail foreign exchange trading platform at a launch event in London on Thursday and says it will be available for trading from 20 February

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ASIC Imposes Conditions on Saxo Bank

05 February 2012

The Australian Securities and Investments Commission (ASIC) has imposed additional licensing conditions on Saxo Bank following its 18-month investigation into collapsed broker, Sonray Capital Markets, which used the SaxoTrader platform to service clients

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EC Rejects Deutsche Boerse/NYSE Merger

05 February 2012

The European Commission last week blocked the planned $10 billion merger of Deutsche Boerse and NYSE Euronext, stating that the deal would have created a near-monopoly over the market

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Gold-i Turns MetaTrader into Multi-Asset Trading Platform

05 February 2012

Gold-i, a UK-based provider of trading system integration technology is transforming the widely used MetaTrader platform for FX into a multi-asset trading platform

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Aussie Dollar Climbs to Six Month High Following Central Bank Surprise

08 February 2012

Australia’s central bank sprang a surprise on the foreign exchange markets this week by leaving interest rates unchanged at 4.25%, contrary to an expected cut. In response to the RBA’s decision, the Aussie dollar climbed to a six-month high against the US dollar, hitting US$1.0822 in early New York trading on Tuesday ¬ not far away from the post-float record of 1.1081 recorded at the end of July last year

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FX Turnover Edges Higher

08 February 2012

The latest semi-annual FX turnover surveys released by five of the world’s FX committees indicates that turnover crept higher in October 2011 compared to April of that year and was much stronger year-on-year from October 2010

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And Another Thing...

08 February 2012

I like the turnover surveys, especially in the UK and US for their depth of data on execution methodologies. The numbers are easily open to misinterpretation, however, so shouldn’t be taken as an absolute as they seemed to be by one major newspaper, which headlined that activity had dropped for the first time since 2009. It hadn’t dropped at all and investigating the report further, I blame Canada

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And Finally...

12 February 2012

Its difficult to say whether investors agreed with my sentiments in the midweek column that the multibank portal model was going to have a tough year and that the traditional RFQ/RFS model has peaked, but I can say that some of you took exception to it

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