FXCM is now in trouble as well.....
I've taken no chances and cleaned out my brokerage accounts...
CanOz
CanOZ are you referring to IB?
They plan on increasing margin requirements for any instrument that is CHF exposed. It seems that the only brokers to have gone under are those that are FX-specific. Even then, not all FX brokers have closed.
zerohedge.com said:Two Greek systemic banks reportedly submitted the first requests to the Bank of Greece for cash via the emergency liquidity assistance (ELA) system on Thursday, in response to the pressing liquidity conditions resulting from the growing outflow of deposits as well as the acquisition of treasury bills forced onto them by the state.
Banks usually resort to ELA when they face a cash crunch and do not have adequate collateral to draw liquidity from the European Central Bank, their main funding tool. ELA is particularly costly as it carries an interest rate of 1.55 percent, against just 0.05 percent for ECB funding.
The requests by the two lenders will be discussed by the ECB next Wednesday.
Bank officials commented that lenders are resorting to ELA earlier than expected, which reflects the deteriorating liquidity conditions in the credit sector.
Besides the decline in deposits, banks were dealt another blow on Thursday with the scrapping of the euro cap on the Swiss franc. Bank estimates put the impact of the euro’s drop on the local system’s cash flow at between 1.5 and 2 billion euros.
Deposits recorded a decline of 3 billion euros in December – a month when they traditionally expand – while in the first couple of weeks of January the outflow continued, although banks say it is under control.
A major blow to the system’s liquidity has come from the repeated issue of T-bills: In November the state drew 2.75 billion euros in this way, in December it secured 3.25 billion euros, and it has already tapped another 2.7 billion in January. Of the above amounts, a significant share – amounting to 3 billion euros according to bank estimates – was in the hands of foreign investors who will not renew them, so they have to be bought by the Greek banks.
Local lenders had also resorted to ELA in 2011 to cope with the outflow of deposits and consecutive credit rating downgrades of the state (and the banks) that made Greek paper insufficient for the supply of liquidity by the Eurosystem. In May 2012, due to the uncertainty of the twin elections at the time, local banks drew 124 billion euros in ELA to handle the unprecedented outflow of deposits.
The only sailing i do is in a bath tub... :bath:
How r u going TM?
Still plugging HSI, i am the stage where i have 8 consecutive winning days only to blow it in 2 days. Now if i could take those two days off somehow...:dunno:
BTW, today is one of those days... :bonk:
Tried a daily stop limit? Like down a grand and you stop type thing. So easy to do with these fast markets though hey, can move so quick either way and you're day can be stuffed before you know it, or vice versa
Seems to have officially died in the bottom around here lately regarding futures trading etc. Anyone out there still having a go? Or you all sailing around in your yachts still?
Yes!
I've been cruising on the SS (So Short) DAX Titanic as it sailed straight into a 1.1 trillion QE iceberg!
Ah, but that would take a disciplined trader..., none of that here, just a pure emotion. Knowing myself, trading is about the worst profession i could of picked for myself. And yet i think i may succeed exactly because of it... you know, push yourself out of the comfort zone, etc. Bring it on!
Are you trading full time or still have a day job?
My strategies are predominantly inter day rather than intra day and yes I am CFD trading.That sucks cynic! How come you are holding overnight, are you trading cfd's?
Insanity is synonymous with DAX behavior....Haha hasn't the DAX had an insane 2015 so far cynic! It's really gone mental, never thought a couple years ago when it was around 8000 or something that I would see it up here this quick.
Haha hasn't the DAX had an insane 2015 so far cynic! It's really gone mental, never thought a couple years ago when it was around 8000 or something that I would see it up here this quick.
Tell me about it!Bloody QE, it was so predictable what it did, looking what it did in US. Seem like another missed opportunity of a lifetime. But cynic missed it with inter day strategy, what chances do daytraders have - zilch, nada...
Vietnam is currently implementing about a hundred projects with Russian investment. Russia hopes to shortly start building Vietnam’s first nuclear power plant and create a Center for Nuclear Science and Technology, Medvedev said.
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