UK broker bankrupted by FX upheaval
As of now, the dollar is riding high. In the Nordics, the Norwegian kroner is showing continued weakness. And the decision a few weeks ago by the Swiss National Bank to de-couple the Swiss franc from the Euro sent the FX market into gyrations. The resulting currency movements consigned many business models and plans to history. Some of those unprepared for the upheaval paid the ultimate price, with high-profile firms like UK FX broker Alpari filing for bankruptcy as a result.
The volatility in FX caused by the Swiss National Bank’s decision to eliminate the franc’s ceiling against the Euro underscores the need for foreign exchange pricing. With many investors’ portfolios containing holdings valued in currencies other than their ‘home’ currency, the ability to quickly calculate values of overseas investments has become crucial.
Get high-quality FX data in Infront
At Infront, we recognize the value of high-quality foreign exchange data. That’s why our market data terminal includes comprehensive coverage of the spot and forward FX markets, as well as FX futures and options, interest rates, macro-economic events and FX related news.
To ensure comprehensive coverage, and reliable and accurate pricing, we draw upon rates from more than 50 bank contributors, which means there’ll always be a cross-rate available no matter which currency pair you are working with. We also include FX pricing from Tullett Prebon, one of the world’s most pre-eminent money brokers, offering a complete FX solution.
As the marketplace holds its breath, awaiting the outcome of the Eurozone’s game of chicken with the new Greek government, it’s reassuring to know at least you can rely on the FX rates on your Infront terminal.
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