Interesting analysis of the effects of regulation on the US retail forex market:
Last October, I warned you that roughly 1/3 of all foreign exchange firms would soon lose their businesses because of coming regulatory changes. And now it’s happened – 10 out of 34 forex firms were just wiped out by new regulations.
The National Futures Association (NFA), which regulates U.S. forex and commodity firms, just raised the capital that forex firms must have to stay in business. The new requirements force all U.S. Forex firms to set aside US$5 million to protect the firm’s own solvency and their clients’ assets.
Posted: January 17th, 2008 under Currency, General.
Comments: 1
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