“FT”: Strengthening the Swiss franc collects more and more victims – Onet.pl

"FT": Strengthening the Swiss franc collects more and more victims – Onet.pl

 
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  Significant losses were almost all companies in the financial markets
 
 
 

– Global financial markets shuddered in Last Thursday, when Switzerland unexpectedly resigned from rigid franc. This resulted in one of the most damaging swings in the currency market in modern history – he writes, “the Financial Times.

– Investment banks around the world have suffered significant losses, and this decision hit hardest currency traders – British financial newspaper continues.

– Carnage is widespread. Fallen brokerage firms in New Zealand and the UK, and small investors suffered losses evaluated hundreds of million dollars. – Says Bloomberg.

British financial market regulator (FCA) sent letters to an unspecified number of companies on the profile, asking for the data, based on which you will be able to assess the scale of losses on the British market.

London, the great financial hub, is also a major world center of foreign exchange transactions. Sudden unexpected changes in the market – such as the appreciation of the currency by 20 – 30 percent. – Can make brokerage firms will suddenly demand from customers significant margin, which they are not able to immediately pay – explains the “FT”.

Such companies as IG Group, CMC Markets, Swissquote, Oanda and Interactive Brokers survived the rise of the franc, but suffered losses. The American company, however, had to borrow FXCM $ 300 million. credit to dissipate fears that no longer meets the requirements of the capital.

The scale of losses the company IG Group is so huge that the company’s listing on the London stock market fell more than 4.3 percent.

Significant losses were almost all companies in the financial markets. Investment banks Deutsche Bank and Citigroup have lost between 50 and 150 million dollars. – Gives the “FT”. According to Bloomberg, Citigroup has lost more than $ 150 million.

Swiss National Bank (SNB) announced on Thursday that withdraws from politics, which established the limit of the depreciation of the euro against the franc.

On Saturday, the head of the institution Thomas Jordan tried to calm the financial markets, where chaos. He also said that the franc is now significantly overvalued.

(bs)