Swiss Franc Crisis Claims Another Victim As FXCM Tanks 80%

The number of casualties from the decision of Swiss National Bank to cease capping the nation’s currency is on the rise, and the damage is spreading from New York to New Zealand, with FXCM Inc., the biggest retail foreign-exchange broker in Asia and the U.S., saying it may be in breach of some regulatory capital requirements.

A small New Zealand currency trading house, Global Brokers NZ Ltd., said it would close its doors as it could no longer meet regulatory minimum-capitalization requirements.

SNB ditched its cap on the franc

As reported by ValueWalk,...