CMC Markets’ Michael Hewson Named Winner of FX Frenzy Global Championship

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Michael Hewson, Senior Market Analyst at CMC Markets, has been named winner of the inaugural Wall St Journal’s DJ FX Frenzy Global Championship.

Michael defeated Dan Dorrow of Faros Trading in the final of the championship on Friday, following his successful sell-euro, buy-Japanese-Yen trade against Dorrow’s buy-US dollar sell-Hungarian Forint trade. The final was won by a margin of just 0.0035%, after Michael locked in gains at 1.48%.

The championship featured 24 traders and strategists across the Americas, Asia and Europe, pitting their best FX trade ideas against each other in an elimination tournament between March 18th and April 19th.

On his way to the global title, Michael defeated Carl Hammer of SEB to be crowned the regional European champion, betting on the performance of the UK pound against the US dollar. Then at the semi-final, Michael saw off competition from colleague Ric Spooner, CMC Markets’ chief analyst in Sydney, before defeating Dan Dorrow in the final.

Michael has been central to CMC Markets finishing top of the FX Week currency ranking forecasts three times in the past twelve months, with his analysis crucial to CMC Markets securing the top spot in the FX Week three month, twelve month and one month currency forecast rankings.

Peter Cruddas, Executive Chairman & CEO of CMC Markets, commented: “Michael is a cornerstone of CMC’s success in the FX Week currency rankings, and it’s fantastic to see his expertise demonstrated in the FX Frenzy Global Competition. His victory is a testament to his encyclopaedic knowledge of the FX markets and what key factors move them. I was not surprised Michael won this elite competition.”

Michael holds over 20 years’ worth of experience in trading, and holds a CFTe from the International Federation of Technical Analysts. He is respected for his open and direct opinions on what’s happening in the markets, and frequently delivers seminars on the subject of trading and technical analysis.

Clients of CMC Markets can follow Michael’s market analysis – along with that of other global analysts - via Twitter and YouTube. The analysts also regularly post to the Chart Message Boards featured within the CMC Markets Next Generation platform.

CMC Markets also offers seminars for clients eager to learn more about technical analysis, such as Michael Hewson’s upcoming Japanese candlestick seminar in May.

For more information please contact:
Dan Pike / Kelly Hollidge at Teamspirit Public Relations on 0207 360 7878 or cmcmarkets(at)teamspiritpr(dot)com

Notes to Editors
CMC Markets is a leading global provider of financial spread betting, CFD and foreign exchange (FX). Since Peter Cruddas founded CMC Markets in 1989, the company now services more than 75,000 clients worldwide, who placed over 30 million trades last year.

With offices in London, Paris, Milan, Madrid, Frankfurt, Sydney, Toronto, Auckland, Oslo, Stockholm and Singapore, CMC Markets represents clients in over 70 countries.

CMC Markets UK Plc and CMC Spreadbet Plc (collectively known as CMC Markets) are authorised and regulated in the UK by the Financial Conduct Authority. For further information on CMC Markets please visit http://www.cmcmarkets.co.uk

Spread betting, CFDs and FX are leveraged products and carry a high level of risk to your capital as prices may move rapidly against you. It is possible to lose more than your initial investment and you may be required to make further payments. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice.

CMC Markets is an execution only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Vickie Bailey
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(014) 235-2930 x0
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