2024-09-21 07:00
IndustryFXCM Details Market Dysfunction During SNB Action
On January 15, 2015, the Swiss National Bank's removal of the 1.20 EUR/CHF floor caused a flash crash, leading to unprecedented dysfunction in the FX market. FXCM reported extreme volatility, with liquidity providers rapidly withdrawing, causing massive price discrepancies and spreads. Circuit breakers were deployed to protect clients, but liquidity remained scarce for about 40 minutes. The event highlighted severe market instability and the failure of institutional FX markets to function properly during the crisis.
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FXCM Details Market Dysfunction During SNB Action
| 2024-09-21 07:00On January 15, 2015, the Swiss National Bank's removal of the 1.20 EUR/CHF floor caused a flash crash, leading to unprecedented dysfunction in the FX market. FXCM reported extreme volatility, with liquidity providers rapidly withdrawing, causing massive price discrepancies and spreads. Circuit breakers were deployed to protect clients, but liquidity remained scarce for about 40 minutes. The event highlighted severe market instability and the failure of institutional FX markets to function properly during the crisis.
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