Forex industry website Forex Magnates recently released the data on profitability and accounts growth for Q2 , and a quick look at the figures reveals that the rebound in Q1 carried on for another quarter. The achievement is not modest, as none of the other Forex brokers assessed in the report: The difference between time frames. Interactive Brokers Group, Inc. In this post I want to address the consistency point using some data I have on-hand for use in my PhD research. Since consistency of performance is not something we can get from the broker-reported figures, I decided to take a look at that. As is often the case in the Far East, the development of such procedures and implementation of systems for surveillance by the HKMA, has been a long and drawn out affair, the planning stage having commenced in December
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Now, since the question is one of consistency, I broke things down based on traders winning in back-to-back quarters. Removing accounts which only traded in Quarter 13 thus having no back-to-back quarters gets me down to accounts. In order to look further at the frequency at which back-to-back profitable quarters are seen we have to account for the fact that anyone with a first profitable quarter in a potential back-to-back as Q12 will not be counted because there is no Q By that I mean while the data will show a back-to-back for Q12 and Q13, it cannot show it for Q13 and Q As a result, while accounts had back-to-back winning quarters, thus at least 2 winning quarters overall, only accounts can be evaluated in terms of going back-to-back multiple times.
In fact, it was very rare that any investor, whether a large corporation or a private individual would enlist the services of a global firm, and even less likely that any such investor would deposit funds into a client account in one country, to fund a trading account in another, with a company with a head office in yet another location. The growth of the FX industry has presented a very serious challenge to regulators, because the entire structure by which most authorities were established was somewhat inadequate to maintain a watchful eye over firms which operate globally, and which can provide services within seconds to clients thousands of miles away, and hold client data on server farms which are often hosted in the ether on increasingly popular cloud-based systems.
In order to meet this ever-growing challenge, regulatory authorities began using automated monitoring methods. One such regulator is the Monetary Authority of Singapore, whose Risk and Surveillance Head Jacqueline Loh oversaw a surveillance operation which resulted in the censuring of institutional traders for manipulating FX benchmarks. In June this year, the Hong Kong Monetary Authority HKMA joined the global movement to improve transparency and reduce counterparty risks in the OTC derivatives markets, which emerged after the global financial crisis in The resultant reaction by regulators worldwide to the need to increase transparency was to instigate reforms to the OTC derivatives markets on various fronts.
The reform measures adopted by the international regulatory community include, requiring all OTC derivatives transactions be reported to trade repositories TRs and all standardized OTC derivatives transactions be cleared at central counterparty CCP clearing facilities, therefore, the HKMA set this into effect in early July. As is often the case in the Far East, the development of such procedures and implementation of systems for surveillance by the HKMA, has been a long and drawn out affair, the planning stage having commenced in December The advancement of automated systems by software firms which provide services to the financial sector has also been noticeable this year.
Subsequent to the implementation of the Delta Stream system in December last year, ASIC has completed a series of enforcements against FX companies for irregularities in compliance procedures. One such case was an enforceable undertaking by Halifax Securities in early April , for inadequate risk management procedures, and then one week later a similar enforceable undertaking by City Index Australia, for lacking the correct care when handling client funds. All of this automation contributes toward an even and non-discriminatory method of monitoring and according to software companies, a cost saving for regulatory authorities.
This article is a precursor to a detailed and full investigation within our latest Quarterly Industry Report for Q3 QIR , in which we examine in detail the use of surveillance within regulatory authorities across Asia. Wednesday, 12 June What Are Pips?
In Forex trading, traders often use terminology which is specific to the industry. If you are new to Forex trading, you will often hear a conversation such as this: It is normally expressed as a change in the fourth digit to the right of the decimal point in a quoted rate. Pip Value for Japanese Yen Quotes For currencies quoted in relation to the Japanese Yen, the exchange rate is quoted to two 2 decimal places only.
Quarterly Intelligence Report
MIG Bank M&A Details Public as Swissquote Reports Q3 Results; MIG Bank M&A Details Public as Swissquote Reports Q3 Results. The final details were similar to speculative figures that Forex Magnates presented in October when we wrote “Forex Magnates believes that MIG Bank was acquired with a similar structure (to the GFT/GAIN. Welcome to Finance Magnates Intelligence – the world’s foremost provider of in-depth knowledge in the field of multi-asset trading. Quarterly Intelligence Report Our Quarterly Report incorporates unique data on trading volumes and traders, in-depth insights, special guest articles, regional information, regulations, updates and much more. Forex Magnates Q4 Industry Report Preview - Free download as PDF File .pdf), Text File .txt) or read online for free. A preview of Forex Magnate's Quarterly Industry Report that covers the institutional and retail foreign exchange market.