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Foreign Exchange

FX news: Dukascopy gets Swiss licence

At the end of last year MIG announced that it had become the first Swiss-based platform to comply with the edict of the Swiss Financial Markets Supervisory Authority (Finma) that such companies require a banking licence (MIG gets its licence).

Dukascopy Swiss Forex Marketplace, the subject of at one time the weeklyFiX’s most popular article (Gut feeling: Dukascopy) has also got its licence and becomes Dukascopy Bank.

Laurent Bellières, CFO of Dukascopy Bank, says: “The banking authorization is a confirmation of a successful transition and an upgrade of Dukascopy’s organization. The changes that have been orchestrated within the company’s infrastructure were conducted by a committed team that has designed a new corporate governance and an internal control system in line with Swiss banking requirements.”

One thing that has not changed at Dukascopy is the hyperbole, nor the painful, translated tone of its press releases. There are nine items listed under the dubious header of ‘What differs Dukascopy from competitors?’ Of course, all nine are offered by other providers too.

What they could have included at number 10 is something original: ‘Gerard Depardieu uses our platform’ (see below for some magnificent acting) – apparently he can trade on a bellyful of his own red wine.

Vieille ecole, that Gerard.

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