ML-Implode News - Swiss franc fallout claims more casualties

Alpari became one of the biggest casualties when a last-minute rescue ended in failure. Meanwhile, Denmark's Saxo Bank was forced to admit on Monday that it was likely to suffer losses... Alpari, which employs about 170 people in London, has nearly $100m in client money which has been segregated under FCA rules
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Some brokers such as IG Group, CMC Markets, Swissquote, Oanda and Interactive Brokers, survived the Swiss franc's violent gyrations, but sustained losses. US-based FXCM, which handled a record $1.4tn in trades made by individuals last quarter, took a $300m cash lifeline from Leucadia National, owner of investment bank Jefferies, to ward off fears it would breach its capital requirements while New Zealand's Global Brokers was forced to close.
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Saxo Bank said it would fulfil all of its regulatory capital requirements though it would also be likely to incur some losses from customers unable to pay their debts. The group doubled its margin requirements for Swiss franc trades last September to 8 per cent, which effectively halved the amount of leverage available to customers to around 12.5 times.

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Swiss franc fallout claims more casualties