Forex Investor Loses Suit Over Swiss Franc 'Flash Crash'

Law360, London (June 22, 2020, 6:24 PM BST) -- A judge tossed an FXCM investor's suit Monday seeking more than $591,000 for losses stemming from the Swiss franc's 2015 "flash crash," saying the trading platform had a right to override an automatic trade order during the "exceptional" market event.

In his ruling, Adrian Beltrami QC, sitting as a judge for the High Court, found that Forex Capital Markets Ltd. had not acted negligently or breached its contract with Target Rich International Ltd. by not following a "stop loss" order set by the investor that would have halted the trading at a requested price.

The "scope of the claim is limited...

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