2 FX Brokers Suffer “Significant Losses” After SNB Surprise, “In Breach Of Regulatory Capital Requirements”

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

zerohedge.com / by Tyler Durden on 01/15/2015 20:44

In a re-run of the catastrophic trading losses that occurred around the Russian Ruble collapse last month (as we described here and here in great detail), two FX brokers (US-based FXCM and New Zealand-based Excel Markets) announced tonight that they “can no longer meet regulatory minimum capitalization requirements,” due to “significant losses” suffered by clients. For FXCM these losses mean a $225 million negative equity balance and they are actively discussing alternatives with regulators. For Excel Markets, it is over… “we will not be able to resume business…Client positions will be closed within the next hour.”

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