http://finance.yahoo.com/news/swiss-franc-shock-shuts-fx-005319992.html
Swiss franc shock shuts some FX brokers; regulators move in
By Anirban Nag and Steve Slater
LONDON (Reuters) - The Swiss franc shock reverberated through currency trading firms around the world on Friday, wiping out many small-scale investors and the brokerages that cater to them and forcing regulators to take a closer look at the sector.
Some major banks also lost out when the Swiss National Bank scrapped its three-year-old cap on the franc against the euro (EURCHF=EBS) without warning on Thursday, including Britain's Barclays (BARC.L) which lost "tens of millions" of dollars, an industry source said.
Retail broker Alpari UK filed for insolvency on Friday, while New York-listed FXCM Inc (FXCM.N), one of the biggest platforms catering to online and retail currency traders, said it looked to be in breach of regulatory capital requirements after its clients suffered $225 million of losses.
FXCM had to turn to Leucadia National Corp (LUK.N), the parent of investment bank Jefferies, to quickly broker a $300 million loan that was expected to close Friday afternoon.
In the past 15 years, retail currency trading has grown quickly, attracting individuals staking their own money with long trading hours, low transaction costs and the ability to take on huge risks for a relatively small sum.
Retail currency trade makes up nearly 4 percent of global daily spot turnover of nearly $2 trillion, the latest survey from the Bank of International Settlements shows, having grown from almost nothing in the 1990s.
This small share means the sector poses limited risk to the financial system but retail brokers are much more vulnerable to big losses than banks. Regulators in New Zealand, Hong Kong, Britain and the United States said they were checking on brokers and banks after reports of volatility and losses.
The move "caused by the SNB's unexpected policy reversal of capping the Swiss franc against the euro has resulted in exceptional volatility and extreme lack of liquidity," Alpari, the shirt sponsor of English Premier League soccer club West Ham, said in a statement.
"This has resulted in the majority of clients sustaining losses which exceeded their account equity. Where a client cannot cover this loss, it is passed on to us. This has forced Alpari (UK) Limited to confirm that it has entered into insolvency."
Online trading services provider London Capital Group Holding (LCG.L) put its franc-related losses at up to 1.7 million pounds ($2.6 million).
The franc surged as much as 40 percent to a high of 0.8500 per euro (EURCHF=EBS) after the Swiss central bank lifted its 1.20 per euro cap.
New Zealand foreign exchange dealer Global Brokers NZ Ltd closed due to hefty losses. The national Financial Market Authority said it would "be seeking assurances that the client funds have been protected and segregated".
The Hong Kong Monetary Authority said it was "following up with the banks on their practice in this regard ... to understand the implication, if any, but we would not comment on the situation of individual banks."
Britain's Financial Conduct Authority said it was talking to Alpari, while the U.S. National Futures Association said it was monitoring the foreign exchange brokers it oversees.
BROKER WOES, REGULATORY POWERS
FXCM Inc (FXCM.N) shares fell nearly 90 percent in pre-market hours before being halted for the regular trading session on the New York Stock Exchange. In after-hours action, it resumed trading (FXCM.K), rebounding from the premarket losses, but still down 70 percent from Thursday's close.
Top executives from FXCM went through company books until at least 5 a.m. EST (1000 GMT) on Friday, according to a source close to FXCM. Regulators were in FXCM's offices in downtown Manhattan on Friday, according to two sources.
A spokesperson for the U.S. National Futures Association said it was in "constant" contact with FXCM, and had been "watching the volatility" as a result of the Swiss central bank move. NFA rules allow a leverage ratio of 50 to 1 on transactions in the Swiss franc, which means even a 2 percent move can wipe out a position.
Not all brokerages suffered. GAIN Capital Holding Inc (GCAP.N) said on Friday it generated a profit on Thursday from trading, and that its strong financial position will allow it to win market share. Its shares closed up 2.9 percent at $8.52.
Canada-based foreign exchange broker OANDA said in a statement it "will pardon our clients' negative account balances associated with this market event" and would not "re-quote or amend" clients' trades on the Swiss currency.
But Denmark's Saxo Bank, one of the biggest players in retail foreign exchange trading, said late on Thursday it would potentially set different rates for its clients' transactions.
Saxo Bank chief financial officer Steen Blaafalk told Reuters some clients had suffered losses but the bank was well capitalised. Retail investors, some of whom face huge losses, protested when Saxo said it might set different rates.
Lawyers said this could be contested.
"I think there will be litigation and disputes over automatic close-outs," said a financial services lawyer.
Hong Kong media reported clients of HSBC Holdings (HSBA.L) were able to buy the Swiss currency at below-market rates for several hours through its online system, making several thousand dollars in profits on the trades.
HSBC said online foreign exchange trading for the Swiss franc "is currently operating normally and we will investigate reports that customers could trade at old rates initially after the cap was lifted."
http://finance.yahoo.com/news/asia-fx-brokers-hit-hard-084132026.html
Asia FX brokers hit hard by Swiss franc shock, regulators probe
HONG KONG (Reuters) - Some retail foreign exchange brokers and trading houses in Asia have been hit by massive losses from Swiss National Bank's (SNB) sudden move to abandon a cap on its currency that led to heavy volatility, with one even being forced to close.
Regulators in New Zealand and Hong Kong said on Friday they were looking into the situation of brokers and banks trading the Swiss franc, following reports of the volatility and losses.
The Swiss currency surged as much as 30 percent to a high of 0.8500 franc per euro after the SNB suddenly ditched its commitment to cap the franc at 1.20 per euro on Thursday.
The surprise move caused New Zealand foreign exchange dealer Global Brokers NZ Ltd to close due to hefty losses incurred from the volatility.
New Zealand's Financial Market Authority (FMA) said it would "be seeking assurances that the client funds have been protected and segregated" after Global Brokers said it sustained a total loss of operating capital.
BROKER WOES
FXCM Inc, one of the biggest platforms catering to online and retail traders of currencies, said it may be in breach of some regulatory capital requirements after its clients suffered $225 million of losses.
"We are following up with the banks on their practice in this regard including the relevant governing terms and conditions to understand the implication, if any, but we would not comment on the situation of individual banks," the Hong Kong Monetary Authority (HKMA) said in an emailed statement.
Foreign exchange broker OANDA said in a statement it "will pardon our clients' negative account balances associated with this market event" and vowed not to "re-quote or amend" clients' trades on the Swiss currency.
"Today's events are sure to trigger broker consolidation, which as an extremely well capitalized broker, interests us greatly," OANDA added.
OANDA's move contrasted to Denmark's Saxo Bank, one of the biggest players in retail foreign exchange trading, which said late on Thursday it would potentially set different rates for its clients' transactions.
Meanwhile, Hong Kong media reported clients of HSBC Holdings were able to buy the Swiss currency at below-market rates for several hours through its online system, making several thousand dollars in profits on the trades.
HSBC said online foreign exchange trading for the Swiss franc "is currently operating normally and we will investigate reports that customers could trade at old rates initially after the cap was lifted."
http://www.wsj.com/articles/swiss-franc-move-cripples-currency-brokers-1421371654
Surge of Swiss Franc Triggers Hundreds of Millions in Losses
Brokerage FXCM Gets Rescue Package; Deutsche Bank and Citigroup Suffer Big Hits
By IRA IOSEBASHVILI, ANDREW ACKERMAN and ALEXANDRA WEXLER
Updated Jan. 16, 2015 7:02 p.m. ET
178 COMMENTS
Banks, brokers and individual investors were left with hundreds of millions of dollars in losses a day after an unexpected surge in the Swiss franc sent shock waves through markets.
FXCM Inc., a major U.S. retail foreign-exchange broker, emerged as the biggest victim so far and had to be rescued by an emergency $300 million lifeline from investment firm Leucadia National Corp.
Shares of FXCM, one of the largest retail currency brokers in the world, were suspended on the New York Stock Exchange on Friday after the company said client losses on Swiss franc trades threatened to put it in violation of regulatory capital rules.
The two-year loan, with an initial interest rate of 10%, is “designed to maintain FXCM’s financial strength and allow it to prosper going forward,” said Leucadia Chief Executive Richard Handler .
FXCM didn’t respond to a request for comment.
Other firms were hit when the Swiss currency jumped by nearly 30% against the euro and 18% against the dollar in the minutes following the Swiss National Bank ’s decision to stop reining in the value of the franc against the euro.
Citigroup Inc. and Deutsche Bank AG will each lose about $150 million on the franc’s appreciation, said people familiar with the firms. Goldman Sachs Group Inc. said Friday that the franc’s move will be immaterial to its earnings. Losses at Barclays PLC will be in the tens of millions of dollars, people familiar with the bank said.
Among hedge funds suffering losses: Discovery Capital Management LLC, a South Norwalk, Conn., firm that manages $14.7 billion, and Comac Capital LLP, which oversees $1.2 billion in London. Comac was down roughly 8%, according to a person familiar with the firm.
Losses could be reversed, but the setbacks are the latest for Discovery and Comac. Comac has been roughly flat the past two years, while Discovery ended last year down more than 3% in its flagship fund, after largely recovering from a double-digit-percentage loss early in 2014, according to people familiar with the firms. Bloomberg News earlier reported Comac’s loss.
Meanwhile, staff for members of the Financial Stability Oversight Council, a group of senior U.S. regulators, spoke by phone Friday to discuss the market’s reaction and the impact on specific financial institutions, according to a person familiar with the call. The discussion didn’t suggest there was an immediate threat to the financial system, this person said.
FXCM was founded in 1999 as one of the first currency brokerage firms to serve retail customers. In recent years, the company has expanded by acquiring weaker rivals, as a yearslong period of modest swings in foreign-exchange markets led to reduced trading and industry consolidation.
At the center of this week’s turmoil, analysts said, was the use by FXCM clients of borrowed money, or leverage. FXCM kept lower margin requirements, or the amount held as collateral for a loan, than its competitors, analysts said, a practice that enabled traders to boost returns by using borrowed money.
For years, foreign-exchange brokerages that catered to mom-and-pop investors operated outside significant oversight and were magnets for potential fraud. That all changed with the 2010 Dodd-Frank financial-overhaul law, which for the first time gave the Commodity Futures Trading Commission regulatory authority over the brokerages.
FXCM was among several firms that fought CFTC efforts to limit leverage at 10 to 1, saying in a March 2010 letter the proposal would have a “devastating impact on the retail [foreign-exchange] industry” and “drive it largely overseas.” The letter was signed by FXCM Chief Executive Drew Niv and eight other brokerage CEOs. The limit eventually was set at 50 to 1, meaning an investor could borrow $50 for every dollar put in.
On Thursday, a unit of Chicago-based exchange and clearinghouse operator CME Group Inc. tripled margin requirements for traders using futures tied to the Swiss franc, according to an advisory notice it sent to clearing members and risk managers.
Rick Smallwood, 43 years old, a technology consultant living in Belize, began trading in Swiss francs last summer at FXCM. He said he held a stop-loss order that aimed to benefit from the franc’s depreciation but would cap his losses if the franc appreciated beyond 0.97 francs per dollar. A stop-loss order is placed with a broker to sell a security when it reaches a certain price. The franc traded Wednesday at 1.02 per dollar.
News of the Swiss National Bank’s decision broke early Thursday morning in Belize. By the time Mr. Smallwood had finished his morning coffee, the franc had soared past his stop-loss order, exposing him to losses. FXCM sold off his position, a dollar amount he puts in the five figures, at 0.88 francs on the dollar.
Mr. Smallwood, who doesn’t use any leverage on his account, typically limits his positions to 1% of his total assets. He said he lost close to 5% of his account on the franc trade.
Mr. Smallwood, who said he is shifting his assets around to other brokers and other markets, blamed the problems at FXCM in part on other traders who use borrowed money in a bid to bolster returns.
“A lot of currency brokers are becoming insolvent because they’re letting people lever up so much,” he said. “There are people who trade responsibly that are exposed to more risk.”
On Friday, both the dollar and euro gained about 2% against the franc, after ending Thursday down 21% and 23%, respectively.
FXCM went public on Dec. 3, 2010, raising $211 million at $14 a share. But FXCM’s shares performed poorly. The stock fetched $12.63 at Thursday’s close and was down about 70% in after-hours trading Friday, at $3.75.
Matthew Wilhelm, principal at Lucid Markets Trading Ltd., an electronic-trading firm, sold 481,228 shares of FXCM in November, according to SEC filings. In June 2012, FXCM purchased a 50% controlling stake in Lucid Markets for $176 million, and Mr. Wilhelm received 5,284,045 shares as part of that deal, according to SEC filings. He didn’t return calls seeking comment.
Another big stockholder of FXCM has also sold large amounts of shares in recent months. Michael Romersa, one of the firm’s founding partners and a former executive, sold 236,193 shares from Dec. 19 to Jan. 9, according to SEC filings.
“I wanted the cash, so I sold some,” Mr. Romersa said. “I’m 68 years old. What am I going to wait for, until I’m 78?”
http://finance.yahoo.com/news/fx-broker-fxcm-gets-rescue-005319552.html
FX broker FXCM gets rescue from Jefferies parent Leucadia
NEW YORK (Reuters) - Retail foreign exchange broker FXCM Inc (FXCM.N), reeling after customers lost more than $200 million from the surging Swiss franc, will get a $300 million loan from Leucadia National Corp to keep operating, the companies said in a statement Friday.
Large global banks and retail brokerages were hit hard by the Swiss National Bank's sudden move Thursday to scrap its three-year-old cap on the value of the Swiss franc against the euro (EURCHF=EBS).
FXCM said Thursday that client losses may have left the brokerage with too little capital.
Leucadia (LUK.N), the parent of investment bank Jefferies, which advised on the deal, will invest $300 million in a two-year senior secured term loan with an initial coupon of 10 percent. The deal, which was expected to close Friday afternoon, also gives Leucadia an undisclosed percentage of a potential sale of FXCM.
"Leucadia`s support and this financing are by far the best alternative for FXCM, our customers, our shareholders, and all other relevant constituencies," said Drew Niv, FXCM chief executive officer.
Top executives from FXCM went through company books until at least 5 a.m. on Friday, according to a source close to FXCM. Regulators were in FXCM's offices in downtown Manhattan, according to two sources.
FXCM needed to act quickly. In its Thursday statement, the brokerage said client losses would result in a shortfall to the company of about $225 million and that it "may be in breach of some regulatory capital requirements."
"The key factor here is time, as regulators tend to be impatient once capital requirements are breached," analysts at Credit Suisse wrote in a Friday note.
In its statement, Richard Handler, Leucadia's CEO, and Brian Friedman, the firm's president, said they had worked with Jefferies and FXCM over the "past approximately 36 hours" to come to a deal. UBS acted as financial advisor to FXCM.
FXCM shares lost nearly 90 percent in premarket activity on Friday to $1.49 a share, and did not trade during the regular New York Stock Exchange trading session. The shares resumed trading in the after-hours session, recovering a bit from the premarket losses, but the stock (FXCM.K) was still down 70 percent to $3.81 a share from Thursday's close of $12.63.
Those who sold the stock in premarket action Friday morning will take big losses.
"The fact is if you sold at $1.49 in premarket that’s a decision you made and you’re out of it," said Ken Polcari, director of the NYSE floor division at O’Neil Securities in New York.
Shares of Leucadia were halted during the trading day at $21.84 a share. They lost 0.8 percent to fall to $21.04 after resuming trading in after-hours action.
In Washington, a spokeswoman for the U.S. Commodity Futures Trading Commission said earlier that the agency was reviewing the company's situation but declined to give details.
FXCM and other brokerages were hit hard after the Swiss National Bank surprised markets by abandoning its cap against the euro. That caused the euro to suffer its biggest-ever one-day fall against the franc, dropping 18 percent for the session and losing some 30 percent on an intraday basis.
'BLACK SWAN' EVENT
Retail currency trade makes up nearly 4 percent of global daily spot turnover of nearly $2 trillion, the latest survey from the Bank of International Settlements shows, having grown from almost nothing in the 1990s.
In a note to clients, Sandler O'Neill analyst Richard Repetto wrote "we've been informed that FXCM offered clients leverage of 50x (often the standard in the U.K.) for EUR/CHF (euro-Swiss franc) trades."
"We believe this high leverage combined with the unique (black swan-like) event of the floating of the Swiss franc contributed to the steep customer losses at FXCM," he wrote.
Black swans are events seen as improbable and come as a major surprise to the market. Such events happen much more often than most market participants expect.
Shares of other brokers with retail foreign exchange businesses were mixed on Friday.
Interactive Brokers Group Inc (IBKR.O) lost 0.6 percent to close at $28.09 a share. The company said customers lost $120 million beyond their collateral, equal to less than 2.5 percent of the company's net worth.
GAIN Capital Holding Inc (GCAP.N) dropped as low as $7.75 in early trading but closed up 2.9 percent to $8.52, after the company said it generated a profit on Thursday from trading.
http://finance.yahoo.com/news/hkma-following-banks-swiss-franc-054245073.html
HKMA "following up" with banks on Swiss franc trading
HONG KONG, Jan 16 (Reuters) - Hong Kong's de facto central bank said on Friday it was looking into the practices of banks and foreign exchange brokers of their trading of Swiss francs after Switzerland's unexpected move to abandon its currency cap.
The Swiss currency surged as much as 30 percent to a high of 0.8500 franc per euro EURCHF=EBS after the Swiss National Bank (SNB) suddenly ditched its commitment to keep its franc above 1.20 per euro.
"We are following up with the banks on their practice in this regard including the relevant governing terms and conditions to understand the implication, if any, but we would not comment on the situation of individual banks," the Hong Kong Monetary Authority (HKMA) said in an emailed statement.
The Swiss National Bank Claims A Victim: Volatility Fails FXCM Inc.
Jan. 16, 2015 5:00 AM ET | About: FXCM Inc. (FXCM), Includes: FXF
Disclosure: The author is long FXCM. (More...)
Summary
The Swiss National Bank's capitulation on the Swiss franc has claimed many victims, including FXCM Inc.
The sudden losses inflicted upon hapless currency traders extended to $225M in debt owed to FXCM.
The stock market responded in kind by plunging FXCM's stock back to last summer's lows.
http://www.edaily.co.kr/news/NewsRead.edy?newsid=01466166609238704&SCD=JH21&DCD=A00802
전세계 주요 외환딜러, 스위스 프랑화 급등에 울상
입력시간 | 2015.01.17 13:42 | 김태현 기자 thkim124@
씨티, 스위스 프랑화 가치 급등..1616억원 손실
英 알파리, SNB 환율 하한선 폐지 여파로 파산
[이데일리 김태현 기자] 스위스 중앙은행(SNB)이 환율 방어를 포기하면서 전 세계 주요 외환거래 은행들이 타격을 입었다.
세계 최대 외환거래 은행 씨티그룹은 SNB가 3년 4개월 만에 자국 통화인 스위스 프랑화에 대한 환율 하한선을 폐지하면서 1억5000만달러(약 1616억원)의 손실이 입었다고 블룸버그 통신이 관계자를 인용해 17일 보도했다.
SNB는 지난 2011년 9월 당시 유로당 1.20 스위스 프랑으로 환율 하한제를 도입했지만 최근 유로화가치와 스위스 프랑화 가치도 하락하면서 전날 환율 하한제를 폐지했다. 환율 하한제 폐지로 유로화 대비 스위스 프랑화 가치는 한때 41% 넘게 폭등했다.
세계 2위 외환거래 은행 도이체방크도 스위스 프랑화 가치 급등으로 1억5000만달러의 손실을 입었다. 영국 바클레이스도 1억달러 가량이 증발했다고 블룸버그는 전했다.
미국 최대 민간 외환중개기관인 FXCM의 경우 상황이 더욱 심각했다. FXCM은 이날 주가 폭락 사태까지 벌어져 거래가 중단되기도 했다. 전날 FXCM 주가는 88.20% 급락했다. FXCM은 투자업체 루카디아내셔널코퍼레이션로부터 3억달러를 긴급 수혈 받았다.
드류 니브 FXCM 최고경영자(CEO)는 “(주가 폭락 사태와 관련해) 루카디아의 적절한 대응에 어떻게 감사할지 모르겠다”면서 “이번 긴급 수혈로 이번 사태를 헤쳐나갈 수 있는 기회를 얻게 됐다”고 설명했다고 미 경제전문지 CNBC는 전했다.
한편 영국 소재 외환중개기관 알파리는 SNB의 스위스 프랑화 환율 하한선 폐지로 파산까지 선언했다고 블룸버그는 덧붙였다. 알파리는 “고객이 감당할 수 없는 손실이 우리에게 이전돼 지급불능에 처하게 됐다”고 밝혔다. XML:N
http://www.etoday.co.kr/news/section/newsview.php?idxno=1057220
스위스발 ‘쇼크’ 일파만파...글로벌 외환거래기관 손실 눈덩이, 파산 공포 확산
최종수정 2015-01-17 01:53
글로벌 환율전쟁 먹구름도 짙어져...UBS, 스위스 경제성장률 전망 하향
[이투데이 뉴욕특파원=민태성 기자]
▲스위스 취리히의 UBS 지점 앞에서 15일(현지시간) 시민들이 환율시세를 바라보고 있다. 블룸버그
스위스중앙은행(SNB)의 전격적인 최저환율제 폐지 여파가 확산하고 있다. 글로벌 시장에는 스위스 통화 당국에 대한 불신이 퍼졌고, 주요 외환중개기관은 자금 부족 사태에 시달리고 있다.
일각에서는 스위스의 돌발 행동이 글로벌 환율전쟁의 심화를 알리는 전주곡이라는 분석도 나오고 있다.
미국 최대 민간 외환중개기관 FXCM은 스위스프랑의 급격한 절상으로 고객들의 손실이 눈덩이처럼 커지자 2억 달러 규모의 자금 수혈에 나섰다고 블룸버그통신이 16일(현지시간) 보도했다.
FXCM은 자금 마련을 위해 제프리스와 접촉 중인 것으로 알려졌다. FXCM을 통해 지난 분기에 거래된 외환은 1조4000억 달러에 달했다.
전일 SNB의 최저환율제 포기로 FXCM의 상당수 고객이 강제 청산 위기에 놓였으며, 계좌에 추가로 예치해야 하는 금액만 2억2500만 달러 정도라고 통신은 전했다.
FXCM의 주가는 뉴욕증권거래소에서 전일 15% 급락한 뒤 이날에도 장중 40% 이상 추가로 폭락했다.
뉴질랜드의 글로벌브로커스는 스위스프랑 가치 급등으로 파산 위험에 처했다. 또 영국 IG그룹홀딩스가 4550만 달러, 스위스의 스위스쿼트그룹홀딩스는 2840만 달러의 손실이 불가피한 것으로 알려졌다.
도이체방크를 비롯해 UBS와 골드만삭스 등 주요 외환거래기관 역시 스위스프랑 가치 급등에 따른 주문을 처리하느라 곤욕을 치렀다고 통신은 설명했다.
닉 파슨스 내셔널오스트레일리아뱅크 리서치 헤드는 “추가적인 희생자가 나오지 않는 것이 이상할 정도”라며 “SNB의 180도 입장 선회로 투자자들은 막대한 피해와 함께 배신감을 느끼고 있다”라고 말했다.
전일 SNB의 유로화에 대한 최저환율제 폐지 결정으로 스위스프랑 가치는 유로에 대한 장중 40% 이상 급등했다. 블룸버그에 따르면, 스위스프랑 가치는 주요 150개 통화에 대해 15% 이상 절상된 상태다.
투자전문매체 마켓워치는 SNB의 결정으로 글로벌 환율전쟁이 심화하는 것은 물론 새로운 양상으로 전개될 가능성에 주목했다.
마켓워치는 전일 달러 가치가 스위스프랑에 대해 13% 급락했다는 사실에 주목하고, 달러 가치가 주요 통화에 대해 하루에 10% 이상 하락하는 것은 매우 드문 일이라고 설명했다. 이는 다른 주요국 중앙은행 역시 자국의 이익을 위해서라면 언제라도 돌발 행동에 나설 수 있다는 것을 보여줬다는 것이다.
이에 따른 변동성 확대로 투자심리가 악화하면서 외환시장은 물론 주식시장 역시 요동칠 가능성이 더욱 커졌다고 마켓워치는 지적했다.
스위스의 전격적인 최저환율제 포기가 결국 스위스 경제에도 부담이 될 것이라는 분석도 나왔다. UBS는 SNB가 3년 동안 유지하던 최저환율제를 폐지하면서 스위스의 올해 경제성장률이 0.5%로 낮아질 것으로 예상했다. 이는 기존 전망치인 1.8%에 비해 3분의 1에도 미치지 못하는 것이다.
UBS는 스위스 수출업계가 환율 급락에 따라 50억 스위스프랑(약 6조1400억원)의 손실을 볼 것으로 추정했다.
http://www.newspim.com/view.jsp?newsId=20150117000047
스위스 쇼크 이틀째, 투자자들 대응 ‘동분서주’
헤지펀드 덴마크 유로화 페그제 폐지에 베팅
2015-01-17 04:20
[뉴욕=뉴스핌 황숙혜 특파원] 월가의 트레이더부터 헤지펀드, 고액 자산가들까지 스위스중앙은행의 ‘서프라이즈’의 대응책 마련에 동분서주하는 모습이다.
스위스 최대 은행인 UBS의 수퍼부자 고객들이 달러화 매입에 잰걸음을 하고 있고, 헤지펀드 업계와 역외 투자자들은 덴마크 크로네화를 공격적으로 사들이고 있다.
일부 외환 브로커들은 스위스 프랑화 급등에 따른 손실로 존폐 위기를 맞았고, 투자자들은 유럽 다른 국가의 연쇄적인 유로화 페그제 폐지 가능성에 촉각을 곤두세우고 있다.
◆ 일부 외환 브로커 폐업 위기
스위스중앙은행의 예기치 않은 환율하한제 폐지에 외환 브로커 업계에 비상이 걸렸다.
스위스 프랑화[출처:신화/뉴시스]
외환 거래 특성상 레버리지 비율이 높아 스위스 프랑 폭등과 이 밖에 주요 통화의 급등락에 따라 대규모 손실이 발생했기 때문.
또 개인 투자자들의 계정에서 발생한 손실로 인해 일부 브로커들은 폐업 위기에 빠지는 등 관련 업계가 비명을 지르고 있다.
이날 영국의 외환 브로커인 알파리가 지급 불능 상황에 빠졌다고 밝혔다.
지난해 4분기 1조4000억달러의 개인 고객 트레이딩 실적을 달성한 FXCM은 고객 계정에 2억2500만달러의 손실이 발생했고, 손실 규모가 커질 경우 감독 당국이 요구하는 자본비율을 지키기 어려운 실정이라고 밝혔다.
글로벌 브로커스는 프랑화 폭등에 따른 손실로 문을 닫을 위기라고 전했고, IG 그룹 홀딩스는 스위스 충격으로 인한 파장이 4550만달러에 달한다고 밝혔다.
FXCM은 보고서를 통해 “고객들이 막대한 규모의 손실을 떠안았다”며 “이 때문에 고객 계정에서 2억2500만달러에 달하는 마이너스 자본이 발생했다”고 전했다.
HSBC는 15일 스위스중앙은행의 ‘깜짝’ 발표 후 환율 급등락으로 인해 전자거래시스템의 호가 제시가 정지된 사이 일부 고객들이 프랑화를 시가보다 낮은 가격에 사들였다는 보도에 대해 진위 여부 조사에 나섰다.
외환 펀드 역시 난감한 상황이다. IG의 크리스 웨스턴 전략가는 “프랑화가 주요 통화에 대해 일제히 급등한 데 따라 상당수의 펀드가 하루 사이 대규모 손실을 냈다”고 전했다.
◆ 헤지펀드, 덴마크 페그제 폐지 가능성에 베팅
헤지펀드 업계는 포트폴리오 충격을 해소하기 위한 전략에 나섰다. 아울러 프랑화 강세를 통해 수익을 창출할 수 있는 새로운 기회를 모색하는 데 잰걸음을 하고 있다.
단스케 뱅크는 헤지펀드 고객과 역외 투자자들이 덴마크 크로네화의 상승 베팅 주문이 봇물을 이루고 있다고 전했다.
스위스에 이어 덴마크 역시 유로화 페그제를 폐지할 수 있고, 이 경우 크로네화가 프랑화의 전철을 밟을 것이라는 계산이다.
이 같은 움직임으로 인해 크로네화는 15일 유로화에 대해 2012년 6월 이후 최대 폭으로 뛰었고, 15일 장중 강보합에 거래되고 있다.
◆ 수퍼부자들 달러화 매입 잰걸음
스위스 최대 은행인 UBS는 고액 자산가들이 달러와 매입에 더욱 열을 올리고 있고, 이 같은 움직임이 당분간 지속될 것이라고 말했다.
프랑화 강세가 스위스 경제와 기업 수익성에 커다란 타격을 가할 여지가 높고, 이 때문에 안전자산을 집중적으로 사들이고 있다는 얘기다.
UBS의 사이먼 스마일 최고투자책임자는 “스위스중앙은행의 환율하한제 폐지 소식이 전해진 직후부터 달러화를 포함한 미국 자산 매입을 주문하는 고객 전화가 꼬리를 물고 있다”고 말했다.
UBS는 올해 스위스의 경제 성장률 전망치를 0.5%로 새롭게 제시, 종전 예상했던 1.8%에서 대폭 낮춰 잡았다.
http://news.einfomax.co.kr/news/articleView.html?idxno=135889
http://www.47news.jp/korean/economy/2015/01/106005.html
英 외환중개사 알파리, 스위스 환율 쇼크로 “파산”
15/01/17 19:30
【뉴욕 교도】스위스프랑의 시세 급변에 적응하지 못한 외환증거금거래(FX) 업자에 경영위기가 확대되고 있다. 영국 소재의 ‘알파리’는 16일, 파산을 발표. 한편 미국의 대기업 FXCM은 고객에게 약 2억 2,500만 달러에 달하는 손실이 발생했다고 밝혔다.
스위스 국립은행(중앙은행)은 15일, 유로에 설정했던 1유로=1.20스위스프랑의 상한을 돌연 폐지했다. 이를 계기로 상한선을 유지했던 스위스프랑은 한때 30%가량 폭등. 이후에도 하락세를 보이며 16일은 1유로=0.99스위스프랑 수준에서 추이하고 있다.
이에 따라 고객의 손실을 모두 떠맡을 수 없는 상황이라며 알파리는 파산 이유를 설명했다.
FXCM의 경우, 지금까지 고객의 손실을 회사가 대신 지급하는 상황이 계속되고 있다. 투자회사 루카디아내셔널은 16일 FXCM에 3억 달러를 융자하겠다고 발표했다. FXCM은 위기를 면했지만 자본 부족은 다른 FX업자에까지 확산될 가능성이 있다.
일본 금융청은 16일, 일본법인 알파리 재팬의 자산유출을 막기 위해 국내보유 명령을 내렸다. 채권자와 투자가의 이익을 보호한다.
FXCM 재팬 증권은 16일, “견고한 신탁 구조를 통해 고객의 자산을 보호하고 있다. (FXCM재팬의) 재무 기반에 대한 영향은 없다”는 성명을 발표했다.
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