Mayhem Erupts on Trading Floors After Swiss Central Bank Removes Cap on Franc

Mayhem Erupts on Trading Floors After Swiss Central Bank Removes Cap on Franc

From bloomberg.com

At 9:30 a.m. today, trading floors across the City of London erupted. Outbursts of obscenities and confusion followed the Swiss central bank’s surprise decision to abolish its three-year-old policy of capping the Swiss franc against the euro, according to traders in London’s financial district. The U-turn sent the franc as much as 41 percent up against the euro, the biggest gain on record, a move that one trader estimated may cause billions of dollars of losses for banks and their customers. Dealers at banks including Deutsche Bank AG (DBK), UBS Group AG (UBSG) and Goldman Sachs (GS) Group Inc. battled to process ... (full story)

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Comment #1
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Jan 16, 2015 4:15am Jan 16, 2015 4:15am

numbnuts
Joined Jan 2010 | Status: overcaffeinated.... | 51 Comments

Sounds like they all had fun, that's the main thing.

si hoc legere scis nimium eruditionis habes

Comment #2
Quote
Jan 16, 2015 4:21am Jan 16, 2015 4:21am

joancb
| Joined Aug 2011 | Status: Member | 310 Comments

Thomas Jordan the most beloved man on earth atm.

Comment #3
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Jan 16, 2015 4:27am Jan 16, 2015 4:27am

Hickson
Joined Jan 2014 | Status: Less is more ... | 8 Comments

Looks like Jordan's account is in good profit now. Under a fake or a middleman's name of course ...

Fix up, trade sharp ...

Comment #4
Quote
Jan 16, 2015 4:29am Jan 16, 2015 4:29am

Fadadio
| Joined Feb 2014 | Status: Member | 197 Comments

lol Jordan better find a bunker to hide in for the next few months.

lots of traders got burnt badly

Comment #5
Quote
Jan 16, 2015 4:38am Jan 16, 2015 4:38am

Guest
| IP XX.XX.158.197

lucky I didn't get caught up yesterday but nice to know that the London traders are in high spirits, lol - Darth Trader

Comment #6
Quote
Jan 16, 2015 4:40am Jan 16, 2015 4:40am

Tony112
Joined Apr 2008 | Status: sometimes... news come unexpected | 2642 Comments

I cannot believe that. It's all like a nightmare for me. I'm can't seem to realize that this is happening. I even start to hear voices.

Invest in alarm clocks

Comment #7
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Jan 16, 2015 4:46am Jan 16, 2015 4:46am

Guest
| IP XXX.XXX.145.195

Anyone for QE in Zurich ?

Comment #8
Quote
Jan 16, 2015 4:46am Jan 16, 2015 4:46am

NathanAhern
| Joined Dec 2013 | Status: Member | 108 Comments

And Alpari has just gone under...

Comment #9
Quote
Jan 16, 2015 4:49am Jan 16, 2015 4:49am

joancb
| Joined Aug 2011 | Status: Member | 310 Comments

Quoting Tony112

Disliked

I cannot believe that. It's all like a nightmare for me. I'm can't seem to realize that this is happening. I even start to hear voices.

Ignored

You can change a nightmare for a dream, use your will.

Comment #10
Quote
Jan 16, 2015 5:07am Jan 16, 2015 5:07am

Hickson
Joined Jan 2014 | Status: Less is more ... | 8 Comments

If this is true, Alpari got what they deserved as the scam broker they obviously are ...

Fix up, trade sharp ...

Comment #11
Quote
Jan 16, 2015 5:09am Jan 16, 2015 5:09am

seaman2
| Joined Feb 2013 | Status: Member | 630 Comments

one takes time off trading and when returns again these irrelevant uk news everywhere. hey, you can take time off as well!

Comment #12
Quote
Jan 16, 2015 5:22am Jan 16, 2015 5:22am

HelloOz
| Joined Oct 2012 | Status: sutatS | 5 Comments

SNB = Swiss Nuclear Bank..
those who lost their money.. still dont know what hit them..

Comment #13
Quote
Jan 16, 2015 5:34am Jan 16, 2015 5:34am

okie dokie
| Joined Nov 2011 | Status: Member | 90 Comments

Quoting Fadadio

Disliked

lol Jordan better find a bunker to hide in for the next few months.

lots of traders got burnt badly

Ignored

Yup thats rite...

Story Stats

Posted: Jan 16, 2015 3:55am
Submitted by:
Newsstand

Category: Entertainment News

Comments: 13 / Views: 4,809