Stats › Currencies and commodities › Franc 2015
The market took 44 seconds to react to the franc floor going
| Source | Figure | What it is actually measuring |
|---|---|---|
| CFTC complaint against FXCM, 18 Aug 2016 | 1.2000 to 1.1659 | A specific quoted level cited in a regulatory filing about capital adequacy. |
| CNBC, same day report, 15 Jan 2015 | Broke to 0.805, then back to about 1.040 | Intraday extreme on the venue quoted, then the recovered level. USDCHF quoted at 0.901. |
| BIS Working Paper 660, Chen, Funke and Moessner, Aug 2017 | Franc rose 40% within minutes, reached parity | Peak appreciation in the minutes after the announcement. |
| BIS Working Paper 751, Auer, Burstein and Lein, Sep 2020 | Over 20% on the first day, 14.0% by end March | Daily close to close appreciation relative to 14 Jan 2015. |
Sources as listed, all read 3 Aug 2026. If you need one number, the daily close to close figure from BIS 751 is the most conservative and the most reproducible. If you traded that morning, none of these describes your fill.
On 15 January 2015 the Swiss National Bank abandoned its CHF 1.20 floor against the euro with no warning. The Bank of England's reconstruction finds the market took about 44 seconds to react significantly. Two retail brokers were gone within days.
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