Proof of how hot retail FX is at the moment comes from the news that Spectrum Equity Investors has taken a $40 million minority equity investment in the somewhat bizarrely named Salt Lake City-based Interbank FX – bizarrely named because it’s not an interbank platform at all.
Anyway, according to Todd Crosland, Interbank FX’s founder and chief executive, the company is already liquid enough to comply with the NFA’s proposals on net capital requirements. “As you know, the NFA has proposed to raise the minimum net capital requirement to $5 million.
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