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About a year and a half after the Swiss National Bank (SNB) induced crisis, the foreign exchange brokerage industry is about to face a serious test. Just before the Brexit vote in the United Kingdom, some executives and regulatory bodies are beginning to ring the alarm bells that its time to prepare for adverse scenarios.
The unexpected move of the Swiss franc has caught the market wrong footed and caused a number of brokerages to incur losses due to clients incurring negative balances.
In contrast to the SNB experience, brokers have had substantial time to prepare for a Brexit scenario, however ... (read more)