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FXPA Continues Signing New Members, Accepting Nominations for Board of Directors and Officers Before February 10 Elections

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FXPA Continues Signing New Members, Accepting Nominations for Board of Directors and Officers Before February 10 Elections
Elections for the next Board of Directors, as well as Officers: Chair, Vice-Chair, Treasurer and Secretary, will take place at an All Members meeting in New York on Feb 10 at 4pm (ET). The Board will consist of 12 members representing a diverse cross-section of the FX marketplace. For membership information or to submit nominations, please contact Julie Ros at jros@fxpa.org
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The FX Crisis: Dealing With Human Risk and Restoring Trust Within the FX Markets – Profit & Loss Webinar (free)

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The FX Crisis: Dealing With Human Risk and Restoring Trust Within the FX Markets – Profit & Loss Webinar (free)
Profit & Loss invites readers to join a special free webinar today, Tuesday, 27 January, at 10am EST/3pm GMT. As the financial services industry looks to recover from the recent FX crisis and restore trust within the FX markets, banking executives are under pressure to fully understand the risks inherent within their organisation. Beyond market, credit and trading risk – human risk is quickly becoming the single largest exposure that financial institutions are facing today. Tune in to hear the views of Stephen Epstein, vice president of product marketing, Digital Reasoning; Rebecca Healey, senior analyst, Tabb Group; Matthew Kulkin, senior associate, Squire Patton Boggs; and Aaron Nelson, lead product evangelist, Digital Reasoning.
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Euro Steadies Despite Greek Worries

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Euro Steadies Despite Greek Worries – Reuters
The euro regained a foothold in early deals in London on Monday, investors choosing to take some profit on two days of dramatic losses after the results of elections in Greece sent the single currency to an 11-year low.

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D-Day for Euro as Market Awaits ECB Quantitative Easing

D-Day for Euro as Market Awaits ECB Quantitative Easing – Reuters
The euro held fast more than a cent above 11-year lows ahead of a European Central Bank policy meeting on Thursday widely expected to embark on the outright money-printing the bank has steadfastly avoided, in contrast to its peers.

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Forex Turmoil Brings Regulatory Issues into Sharp Focus – Financial Times

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Forex Turmoil Brings Regulatory Issues into Sharp Focus – Financial Times (subscription)
The implosion of several retail foreign exchange brokers following the wild swings of the Swiss franc last week has brought into sharp focus the lightly regulated industry long regarded in the City as an unsophisticated sideshow to the grander workings of high finance.
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What Does the CHF Story Mean for the FX Industry? – Profit & Loss Webinar

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What Does the CHF Story Mean for the FX Industry? – Profit & Loss Webinar
Profit & Loss invites readers to join a special free webinar today, Tuesday, 20 January at 9.30am EST/2.30pm GMT, to discuss the implications of the Swiss franc fallout on the FX industry. Tune in to hear the views of Christopher Cruden, CEO, Insch Capital Management; Erik Lehtis, head of trading, VisionFX; Bob Savage, CEO, CCTrack Solutions; and moderator Colin Lambert, managing editor, Profit & Loss.
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Fallout Continues After Swiss Rout

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Fallout Continues After Swiss Rout – Profit & Loss (free story)
The fallout from events on Thursday when the Swiss National Bank unexpectedly removed the Swiss franc’s peg to the euro has continued over the weekend with some estimating industry losses exceed $2 billion from the sharp move higher in the CHF. Whilst the focus has largely been on the retail FX market with brokers collapsing or requiring rescue, hedge funds and banks have also been hit hard.

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Swiss National Bank Abandons Currency Ceiling

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Swiss National Bank Abandons Currency Ceiling – Financial Times(subscription)
Switzerland’s central bank is discontinuing its currency “ceiling” of CHF 1.2 per euro, introduced in the middle of the eurozone crisis, and has significantly lowered interest rates to -0.75%.

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FXCM Reports $225 Million Hit; Fears for Retail Sector After SNB Move – Profit & Loss

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FXCM Reports $225 Million Hit; Fears for Retail Sector After SNB Move – Profit & Loss (subscription) The unprecedented move in CHF that followed the Swiss National Bank’s decision to abandon the euro peg has raised fears of a series of bankruptcies in the hedge fund and small institutional community, as well as pressured several retail brokers. FXCM has stated that its clients suffered “heavy losses” in the move and that the firm was owed $225 million and “could be” in breach of some regulatory capital requirements.

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