0
95
This has been reported on the Wall Street Journal.
This happened in January 2015 when Swiss National Bank surprised the global markers with its decision to unpeg Swiss Franc.
That decision unnerved the market and within a few minutes USDCHF fell 1887 pips.
Many brokers suffered huge losses on that day.
FXCM reported a loss of $225 million while Alpari a London based broker went bankrupt and was liquidated.
Saxo Bank came with an ingenious solution.
It revised the price later on and shifted all its loss to the traders.
Read my blog post that explains how this was done.
