Sunday 28 June 2009

ICAP Buys Traiana As Forex Industry Consolidates

ICAP Buys Traiana As Forex Industry Consolidates

ICAP, one of the world's leading wholesale brokers, have moved to buy the Forex provider Traiana for a total of $247,000,000 US dollars ($9,000,000 in shares, $238,000,000 up front). The buyout represent a major recognition of growth for the retail and wholesale Forex markets and the traders who support them.

Toronto, Canada (PRWEB) June 28, 2009 -- InvestTechFX the leading 1 PIP Forex Corp offering MetaTrader4 reported on the acquisition of Traiana by investment and broker giant ICAP. InvestTechFX's industry specialist commented that there were several likely motivations for the buyout, including but not limited to an overall recognition of the expanding market share of the Forex industry and the potential it has for competition. InvestTechFX's specialist commented that as with any immerging market, the established players in the industry will push to be the first with their foot in the door. At present, the wholesale and retail Forex markets are exploding with new participation and liquidity, and it is not going unnoticed by independent investors.

InvestTechFX the leading 1 PIP Forex Corp offering MT4 noted that the buyout will mean a significantly strengthened trading infrastructure and liquidity network for Traiana, which already had a network of over 50 banks that all provided liquidity for the Forex trading that Traiana supports. Traiana, like most Forex brokers, depends mainly on the number of trades that are executed by its account holders. The arrangement is straightforward; individual traders or organizations deposit money into a special trading account that Traiana provides, and can then use Traiana's clearing connections, communications support, and trading software to execute trades in the lucrative online foreign exchange market. All this does come at a price; Traiana (and most brokers) imposes a fee on each trade that is made. The more trades that are made, the more money Traiana brings in. Traiana's profit increase of over 40% from 2007 to 2008 illustrates the extent of the Forex expansion, and provides more evidence for why Traiana was such an attractive investment for the London-based ICAP. Through this merger, Traiana has a an opportunity to solidify a position as a true world-leader in Forex trading.

InvestTechFX the leading 1 PIP Forex Corp offering MT4's industry specialist explained that such mergers can have positive and negative log-term effects for private Forex traders. As retail Forex trading is a developing industry, there is not always an efficient communications and clearing infrastructure in place to facilitate trading, which can result in increased trading expenses being passed on down to end-users (the actual traders trying to participate in the market). Larger Forex providers with better clearing networks can execute trades more efficiently. In markets like Forex trading, several billion dollars are spent every year simply processing the trades. There is, however, another side of broker consolidation that can work against traders- the potential for monopoly and reduced competition. There are currently several hundred Forex brokers available to traders all over the world, all competing for new and existing traders. This competition drives down the spreads, commissions, and fees that traders are charged. For traders who target very small gains, these charges can make the difference between profits and losses. Though it is more of a long-term threat, a monopolized and over-regulated industry can inflate costs and strip the financial fertility of the market. If it becomes too difficult for private traders to turn profits in Forex, they will take their investments elsewhere, and the market will dry up.

InvestTechFx the leading 1 PIP Forex Corp offering the MT4 trading software noted that this acquisition was not made in isolation; ICAP has been increasing its expansion into electronic and phone-based brokers progressively over the past 3 years. InvestTechFX's specialist cited that the move is part of a larger industry trend toward increasingly automated and internet-based brokers who take advantage of the internet to bring trading execution power directly to the traders themselves, reducing the necessary middle-men and bureaucracy that have inflated the operational expenses of traders for years.

InvestTechFX is a No Dealing Desk (NDD) and Software Solutions Corporation. InvestTechFX offers a 1 PIP fixed spread on 6 major currency pairs, as well as a comprehensive system of account groups, including scalping, interest-free, and VIP accounts. InvestTechFX is not a market-maker, and never takes positions against traders. More information on Forex markets, trading strategies, and financial anaysis is freely available through the InvestTechFX website:

WORLD FOREX: Dlr Up Vs Yen; FOMC, Stocks Fuel Risk Appetite

By Takashi Mochizuki

TOKYO (Dow Jones)--Higher Japanese stock prices and a positive outcome from the Federal Open Market Committee meeting overnight revved up players' risk appetite, lifting the dollar and euro up against the yen in Asia Thursday.

The U.S. currency will likely rise for the rest of this week, some dealers said, because the FOMC did not take additional stimulative measures such as boosting its Treasury purchase program.

Some investors had expected the FOMC might increase its future Treasury buying to support the U.S. economy, which is usually a negative factor for the dollar as the nation's interest rates decline.

"Reading market sentiment is fairly easy today: players are taking positive cues from the FOMC and stock prices to buy dollars and euros," said Jun Kato, a senior dealer at Shinkin Central Bank.

Japan's benchmark Nikkei 225 Stock Average stood at 9822.66 as of 0450 GMT, up 232.34 from Wednesday's close.

The pace of the dollar's climb, however, will likely be slow because players are unwilling to make aggressive bets ahead of non-farm payrolls data and business activity indexes from the Institute for Supply Management due next week, said's senior dealer Tsuyoshi Ueda.

"Ahead of the data releases, the market lacks a decisive factor to make a strong, long-term trend in the currency market," he said.

Other dealers have similar views, saying Y98 is a cap for the dollar for the time being.

Later in the global day, market participants will turn their attention to U.S. weekly jobless data, and if the result shows an improvement and pushes up U.S. stock prices, the dollar may extend its climbs, dealers noted.

The data may record 605,000 claims, which is slightly better than the 608,000 claims in the previous period, according to a Dow Jones poll of economists.

The euro, meanwhile, rose against the dollar and yen. Dealers said the European currency is expected to keep rising unless European Central Bank officials say something surprising, dealers said. The bank's executive board member Juergen Stark will make a speech later in the day.

So far in Asia, Japanese importers and security firms and non-Japanese commodity trading advisors were seen selling the yen for the dollar, euro and Australian dollar, dealers said.

Interbank Foreign Exchange Rates At 00:50 EDT / 0450 GMT
Latest Previous %Chg Daily Daily %Chg
USD/JPY Yen 96.22-27 95.61-63 +0.64 96.28 95.62 +6.20
EUR/USD Euro 1.3960-66 1.3926-29 +0.24 1.3975 1.3928 -0.13
GBP/USD Sterling 1.6451-55 1.6408-12 +0.26 1.6467 1.6414 +12.48
USD/CHF Swiss Franc 1.0952-58 1.0978-84 -0.24 1.0986 1.0948 +2.65
USD/CAD Canadian Dlr 1.1538-44 1.1566-71 -0.24 1.1563 1.1534 -5.15
AUD/USD Australian Dlr 0.8004-09 0.7956-61 +0.60 0.8013 0.7961 +13.16
NZD/USD New Zealand Dlr 0.6415-17 0.6384-90 +0.49 0.6420 0.6386 +9.94
EUR/JPY Yen 134.38-40 133.14-19 +0.93 134.41 133.34 +6.11

-By Takashi Mochizuki, Dow Jones Newswires; 813-6895-7554;

CORRECT:WORLD FOREX: Rising Risk Appetite Pushes Dollar Lower

By Nicholas Hastings


LONDON (Dow Jones)--Risk appetite is on the way up again, pushing the dollar lower and the euro higher in Europe Friday.

The improved sentiment emerges at the end of a week in which the U.S. Federal Reserve appeared to have preserved its rather dovish view of the global economy and the European Central Bank poured fresh liquidity into the euro-zone economy through massive one-year loans to the banking system.

This along with some relatively positive economic news over the course of the week has convinced investors that central banks will continue to encourage the recovery and aren't likely to tighten monetary policy again anytime soon.

The need for further monetary accommodation was driven home earlier Friday by news from Japan that its consumer price index had fallen by 1.1% over the last year, the largest decline in the index since it was introduced 38 years ago.

See chart at

Nevertheless, optimism was feeding through in to equities with a strong 2.1% rally in the Dow Jones Industrial Average being followed by a 0.8% rise in the Nikkei in Japan and gains of as much as 0.8% on European bourses.

The crude oil market also reflected the better mood, with the price of the August contract on the New York Mercantile Exchange gaining 75 cents from Thursday's close to trade at $70.98 a barrel.

The Swiss franc, which had come under two unconfirmed intervention attacks Thursday, was trading flat against the euro with market participants nervous that the Swiss National Bank will launch another exercise to drive the franc lower. Thursday's intervention, which is believed to have been carried out through the Bank for International Settlements, helped to lift the euro from close to CHF1.50.

Around 0930 GMT, the euro was still up at CHF1.5313, hardly changed from CHF1.5315 late Thursday in New York, according to EBS.

The dollar, however, fell to CHF1.0916 from CHF1.0947 as the U.S. currency suffered from the rise in risk appetite.

Elsewhere, the euro rose to $1.4026 from $1.3988 and to Y134.50 from Y134.01, while the dollar was nearly flat at Y95.89 compared with Y95.86.

The pound rose to $1.6461 from $1.6373.

In Eastern Europe, currencies were mixed. The euro was up a little at HUF276.23 from HUF276.18. However, it was also down at PLN4.5027 from PLN4.5034 and at CZK25.970 from CZK25.994.

-By Nicholas Hastings, Dow Jones Newswires; 44 20 7842 9493;

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BIS-China's Zhou says forex reserve policy stable

BASEL, Switzerland, June 28 (Reuters) - China has always maintained a stable foreign exchange reserves policy and there are no changes to its goal of trying to ensure safe returns, its central bank governor said on Sunday.

Speaking on the sidelines of an annual gathering at the Bank for International Settlements, Zhou Xiaochuan said:

"Our foreign exchange reserve policy is always quite stable and consistent, that is to say for the purpose of liquidity and safety and the returns."

"So I think you should realise that it is very stable. There aren't any sudden changes," he told reporters. (Reporting by Tamora Vidaillet; Editing by Ruth Pitchford)

FXCM, Global Forex Firm Expands Krone Pair Offerings for Nordic Region

Thu, Jun 18 2009, 16:10 GMT

Forex Capital Markets Ltd. ( announced they now offer 10 different krone crosses to be traded on the FXCM trading platforms.

FXCM strives to be the premier forex provider for the Nordic region. Accessing highly competitive prices from relationships with some of the world's largest banks, and as a premier "No Dealing Desk" or agency execution forex firm focusing on the Nordic countries, FXCM offers clients no dealer intervention and tight spreads as low as 1 pip.

To further support the Nordic trading community FXCM now offers 10 different krone crosses:

Swedish Krona Pairs

Norwegian Krone Pairs

Danish Krone Pairs

Please note: Margin is 2%, meaning 50 times leverage. Currently these crosses are only available for live account holders.

Due to the volatile nature of these crosses driven by thin liquidity, spreads can be quite high and it is recommended to trade during Scandinavian (European) trading hours.

To read more on the Nordic markets, read the Scandi Daily on DailyFX by Joel Kruger, Technical Currency Strategist at Request to be put on the distribution list now:

FXCM aims to deliver the best forex trading technology, resources, and 24/7 customer service through its multiple trading platforms, including: FXCM Trading Station II, MetaTrader 4, and Forex System Selector.

FXCM representatives are available 24 hours a day, 7 days a week.

Alpari Group kicks off indian operations

Fri, Jun 19 2009, 12:04 GMT

Alpari Group, a leading global provider of online foreign exchange (FOREX, FX) trading services today formally launched its India operation and website at Alpari India will offer Forex trading to Indian institutional and retail customers. Individual Indian traders, fund managers and institutional customers will benefit from innovative and proprietary currency-trading technology combined with quality execution and competitive spreads and margins. Alpari India will also provide expert and responsive customer support via their highly professional Customer Services team.

Mr. Andrey Vedikhin, CEO & Co-founder, Alpari (UK) said, “We believe that the Indian market offers healthy prospects for the Alpari Group. India will be one of the first major global economies to emerge from today’s recession. India has a rapidly expanding middle class and a large technology and business-oriented population, which is hungry for online-trading solutions.”

“We already have many Indian clients and are confident that both our retail and institutional offerings will meet the expectations of the Indian Forex trading community. Alpari India is delighted to be able to help shape and drive the Forex market in India,” added Mr. Vedikhin.

Mr. Pramit Brahmbhatt, CEO, Alpari India said, “The Indian Forex market has grown rapidly in recent years, which is a great business opportunity for Alpari India to offer its world-class services to Indian investors and traders. Alpari India offers a new investment alternative, by providing institutional-level trading solutions for retail investors, along with low cost hedging opportunities for corporates. This combination will enable Indian investors to better explore the global currency and bullion markets.”

“We have a long-term commitment to the Indian investor community and are looking forward to offering educational and research initiatives to complement their trading activities,” added Mr. Brahmbhatt.

Alpari India offers institutional-level trading technologies, developed by its Research & Development team. These include a prime brokerage business model, multi-bank liquidity feeds, floating leverage, an automated risk management system, 24 hour-trading, multi-lingual trading platforms and a fifth decimal-pricing format.

In addition to its comprehensive market research services, Alpari India is committed to providing customers with educational resources such as free online video tutorials via the Alpari Academy, helping investors make better informed and more responsible trading decisions.

Jon Pexton, Interbank FX, Acknowledged As A 2009 CFO of the Year Financial Champion by Utah Business Magazine

In a time of struggling national and local economies, today’s CFOs play an increasingly vital role in securing a corporation’s future. In a recent ceremony, Utah Business Magazine acknowledged 16 CFOs who have not only accepted that challenge but have gone beyond to ensure their company’s short-term and long-term success. At the event, Jon Pexton, Interbank FX CFO, has been acknowledged as one of three 2009 CFO of the Year Financial Champions in the category of Private, Medium Company.

Under Pexton’s financial leadership, Interbank FX is booming: Last year, the company generated more than $60 million in revenues and doubled its trading revenues..

“I am very appreciative of the chance to fulfill a role for Interbank FX that is both challenging and rewarding,” he said upon accepting the award.

Jon Pexton joined Interbank FX in May 2008 with more than 15 years finance and accounting experience, including eight years with a "Big 4" firm and seven years with publicly-traded global companies.

Pexton has performed financial due diligence on more than 35 transactions, and participated in an IPO that raised $80 million.

“We are proud to acknowledge the role Jon has played in making our company rock-solid,” said Todd B. Crosland, president & CEO of Interbank FX. “It is critical that our customers have absolute trust in the strength of Interbank FX. We are striving to be the gold standard against which all other brokers are measured. Jon has done an excellent job of helping us to achieve that high goal, particularly during a period of economic uncertainty and extensive company growth.”

For more information about Interbank FX, please visit the company’s Web site at

FX Solutions’ Co-Founders Robert Cortright & Thomas Plaut Named Ernst & Young Entrepreneur Of The Year® 2009 Award Winner in New Jersey

Fri, Jun 26 2009, 13:43 GMT

FX Solutions, a leading online foreign exchange brokerage, today announced that Co-Founders Robert Cortright & Thomas Plaut received the Ernst & Young Entrepreneur Of The Year® 2009 Award in the Financial Services category in New Jersey. According to Ernst & Young LLP, the award recognizes outstanding entrepreneurs who are building and leading dynamic, growing businesses. Robert Cortright & Thomas Plaut were selected by an independent panel of judges, and the award was presented at a gala event at the Teaneck Marriott at Glenpointe on Tuesday, June 23rd, 2009.

“We are thrilled to receive this distinction. We have always aimed to provide retail FX traders the same superior quality and service previously available only to banks and other financial institutions,” FX Solutions CEO, Michael Cairns said upon hearing about winning the award. “Having others recognize us for our entrepreneurial effort with co-founders Robert Cortright & Thomas Plaut is a great reward for all of us at FX Solutions.”

The Ernst & Young Entrepreneur Of The Year awards celebrated their 23rd anniversary this year. The program honors entrepreneurs who have demonstrated exceptionality in such areas as innovation, financial performance and personal commitment to their businesses and communities.

“We are proud to recognize the achievements of Robert Cortright & Thomas Plaut,” said Keith Brownlie, Ernst & Young LLP Entrepreneur Of The Year Program Director for New Jersey. “Winners of the Entrepreneur Of The Year award build leading businesses and contribute significantly to the strength of our region’s economy. Their success helps our area grow stronger.”

As New Jersey award winners, Robert Cortright & Thomas Plaut are now eligible for consideration for the Ernst & Young LLP Entrepreneur Of The Year 2009 national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 14, 2009. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation’s most prestigious gathering of high-growth, market-leading companies.

KCBT Value Line Stock Index Close - Jun 26

Sat, Jun 27 2009, 02:10 GMT

KCBT Value Line Stock Index Close - Jun 26

Contract Open High Low Prev Settle Chg

Sep '09 1317.00 1317.00 1317.00 1317.00 1317.00 0.00
Dec '09 1317.00 1317.00 1317.00 1317.00 1317.00 0.00
Mar '10 1317.00 1317.00 1317.00 1317.00 1317.00 0.00

NOTE: It is possible for a settlement price to fall outside the daily high
and low due to an exchange's specific rules on how a settlement price
is determined.

ICE US Equity & Currency Closing Estimated Volumes For Jun 26

ICE US Equity & Currency Closing Estimated Volumes For Jun 26

Estimated Volume Report for 26-Jun-2009

Total Floor Floor Total
Futures Calls Puts Options
Aus. Dollar - N.Z. Dollar 116 0 0 0
Australian $-Canadian $ 107 0 0 0
U.S. Dollar - Aus. Dollar 0 0 0 0
U.S. DOLLAR INDEX 8,331 24 16 40
Euro Index 0 0 0 0
Euro-Japanese Yen 29 0 0 0
Euro - US $ 34 0 0 0
Euro-Canadian Dollar 616 0 0 0
Euro - Czech Koruna 192 0 0 0
Euro - Sterling 111 0 0 0
Pound Sterling-N Z.Dollar 1 0 0 0
Euro-Hungarian Forint 85 0 0 0
Canadian $-Japanese Yen 46 0 0 0
Aus $-US$ 0 0 0 0
Euro-Japanese Yen 0 0 0 0
Euro- US$ mil 0 0 0 0
Euro-Canadian Dollar 0 0 0 0
Euro-British Pound 0 0 0 0
US $ - Swedish Krona 0 0 0 0
US $ - Swiss Franc 0 0 0 0
British Pound-US$ 0 0 0 0
Euro-Swedish Krona 0 0 0 0
Euro-Swiss Franc 0 0 0 0
US $ - Japanese Yen 0 0 0 0
US $ - Canadian $ 0 0 0 0
Swedish Krona-Japanese Yen 0 0 0 0
US Dollar/Swedish Krona 73 0 0 0
Norwegian Krone-Jap. Yen 0 0 0 0
Small US$-Swiss Franc 21 0 0 0
Sm.British Pound-US$ 147 0 0 0
Norwegian/Swedish 0 0 0 0
US Dollar/Norwegian Krone 50 0 0 0
Euro-Norwegian Krone 43 0 0 0
Pound Sterling - Canadian$ 8 0 0 0
Pound -Norwegian Krone 0 0 0 0
Pound Sterling-Sw. Krona 0 0 0 0
Pound Sterling-S.A. Rand 0 0 0 0
Pound-Australian $ 4 0 0 0
Euro-Australian Dollar 0 0 0 0
Euro-SWEDISH KRONA 42 0 0 0
Euro - Swiss Franc 453 0 0 0
Small US$-Japanese Yen 0 0 0 0
British Pound-Swiss Franc 2 0 0 0
Small US $-Canadian $ 81 0 0 0
British Pound-Japanese Yen 11 0 0 0
US Dollar/Czech Koruna 0 0 0 0
US $/Hungarian Forint 299 0 0 0
Australian $-Japanese Yen 28 0 0 0
Euro-South African Rand 0 0 0 0
New Zealand $-Japanese Yen 6 0 0 0
U.S. Dollar-S.African Rand 478 0 0 0
U.S. Dollar - N. Z. Dollar 0 0 0 0
Swiss Franc- Japanese Yen 0 0 0 0

Continuous Commodity Index 7 4 0 4
RJ CRB Index 0 0 0 0
Russell 1000 Growth Index 0 0 0 0
Russell 1000 0 0 0 0
Russell 1000 Mini 511 0 5 5
Russell 2000 Mini Index 129,411 0 45 605
Russell 2000 Index 0 0 0 0
Russell 1000 Value 0 0 0 0
NYSE Comp Index 0 0 0 0

-By Kathy Lang; Dow Jones Newswires; 913-322-5172;

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(END) Dow Jones Newswires

June 26, 2009 22:14 ET (02:14 GMT)

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