Forex Brokers Under Scrutiny After Swiss Move

“It was pandemonium,” said Richard de Meo, director of Foenix Partners., a London-based trading firm for companies and individuals who need foreign currency… The sharp rise in volatility last week also triggered margin calls as traders’ credit limits with brokers were exceeded. Mr. de Meo said that his firm, which trades little to no Swiss francs, nonetheless saw its cash collateral requirements shoot up by 10-15% as volatility from the franc spilled over into the wider market.

Richard de Meo quoted in the Wall Street Journal

— —