Sharp swings, after the removal of the 1.20 peg on EURCHF by Swiss National Bank, played a lucky card for FastMatch, which gained $24.3 billion in one day.
Just within 24 hours FastMatch exceeded its daily average volume for December 2014 by 200%! All companies experienced dramatic changes and sudden movements, some rising with profits while others dropping head first.
London-based broker ICAP PLC also saw dramatic results nearly tripling the latest daily average with over $300 billion worth of trades!
Back to FastMatch. The broker operates and relies on the retail FX flow from FXCM broker, however recently it has expanded beyond and became much more independent from FXCM order flow.
According to Wall Street Journal, FXCM owns $300 million in emergency loan on top of $225 million of negative equity, including overall 32% stake in FastMatch.
Dmitri Galinov, CEO of FastMatch Dmitri Galinov stated that the broker plans to completely separate from FXCM and start independent new services.