At least 3 big brokerage firms suffered significant losses from - TopicsExpress



          

At least 3 big brokerage firms suffered significant losses from the Chf shocker yesterday. New Zealand based broker, Excel markets threw in the towel yesterday and could not continue business due to several negative balances. It apologized to its several clients because it suffered fatal losses and could no longer meet up with the NZD 1million requirement for brokers after the Chf became illiquid for hours. Fxcm, one of the largest brokages in the world also sustained huge losses to the tune of $225 million. It could no longer keep up with the NFA requirements and is holding talks of an alternative measure. Oanda fx, probably the worlds largest brokerage also suffered huge losses from the illiquid Chf, panick withdrawals and negative balances. Banks like Ubs, Saxo and several U.S stocks had a bad day in the red also from the ripple effect of the SNB decision. However, safe haven currencies like the Jpy could benefit as risk aversion and Global Slow down continues ...
Posted on: Fri, 16 Jan 2015 08:02:54 +0000

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