Headlines via Reuters:
- FXCN- due to unprecedented volatility in EUR/CHF pair after Swiss National Bank announcement, clients experienced significant losses
- FXCM inc says as a result of these debit balances, the company may be in breach of some regulatory capital requirements
- Volatility in EUR/CHF pair after announcement clients experienced losses, generated negative equity balances owed to FXCM of about $225 mln
Here is the full statement:
(NYSE:FXCM) an online provider of forex trading and related services worldwide, announced today due to unprecedented volatility in EUR/CHF pair after the Swiss National Bank announcement this morning, clients experienced significant losses, generated negative equity balances owed to FXCM of approximately $225 million.
As a result of these debit balances, the company may be in breach of some regulatory capital requirements.
We are actively discussing alternatives to return our capital to levels prior to today’s events and discussing the matter with our regulators.
Other industry news in the wake of the SNB decision:
- GAIN Capital says ‘no material impact’ from Swiss franc
- Forex broker Excel Markets calls it quits on SNB shocker
“Hi, I’m Thomas Jordan from the Swiss National Bank. Go on, kick the ball …”
