Trading
Icap revenues down 5% in four months
‘Challenging market conditions’ outweigh robust EM FX trading volumes
EM currencies set for extended rout, say analysts
Current account deficits set to keep EM currencies under pressure
FX traders break up USD/EM basket for first time in five years
The market has seen a shift in emerging markets trading as FX traders focus on currency differentials
FX volume resumes steady rise after yen-driven spike, surveys reveal
Turnover in the US and the UK declined between October and April, with a sharp fall in spot, but volume remains up year-on-year
Banks to shun FX platforms over transparency
Banks increase scrutiny of aggregation practices over transparency concerns
Currency fund performance still stuck in ‘perfect storm’
Currency funds continue to under perform other asset classes, but investment managers see improvements in 2014
Savage launches multi-strategy hedge fund
Former FX Concepts executives Robert Savage and Ron DiRusso launch Citic Capital Holdings
FX Focus trade repository Q&A
Alongside derivatives counterparties and regulators, trade repositories form the final part of a triumvirate that must work together if the European Market Infrastructure Regulation’s trade reporting regime is to begin smoothly on February 12. Leading…
Esma foresees a rush to report
Implementing the European Union’s trade reporting rules will be no mean feat for the European Securities and Markets Authority (Esma), with many in the industry way behind on their preparations to meet the February 12 deadline. Michael Watt talks to Esma…
February 12 trade reporting deadline – Failure warning
With the European Union’s February 12 trade reporting deadline fast approaching, few give the market any chance of being fully ready. Participants point to the significant challenge posed by complex reporting rules, and the shortened timeline to…
FX Focus - Editor's Letter
Ready to report?
BlackRock threatens to go own way on UTI generation, says industry source
Asset manager takes unusual step of generating unique trade identifiers itself as banks react slowly to challenge
LMAX chief executive predicts FX volumes to double by 2020
LMAX has added offshore renminbi and the Russian ruble to its growing list of currencies as it hopes emerging markets will spark dramatic growth in FX volumes
RMB convertibility will be catalyst to offshore trading, say bankers
Buy-side firms will remain reticent in using renminbi until it becomes a fully convertible currency, despite the progress that has been made in recent months
Bonuses will disappoint but job prospects encouraging, recruiters say
Headhunters say banks will look to replenish FX teams but bonuses will likely disappoint this year
Gain GTX gathers momentum as it awaits Sef licence
Gain Capital's institutional platform reached average daily volume of $20.4 billion in November, a year on from the appointment of Joseph Wald to run the platform
Chat room bans could drive traders back to the phone
Several banks have banned the use of chat facilities in response to the FX fix investigations, but some believe the ban may only make communication less transparent
Perspectives on 2014: Simon Wilson-Taylor, Molten Markets
Algorithmic execution might have seemed implausible in the FX market a few years ago, but this will be the year when the market structure shifts further in a direction that favours algos, says Molten Markets chief executive Simon Wilson-Taylor
Perspectives on 2014: Simon Jones, Mako FX
This will be a year when banks face up to the reality of regulation, constraining their ability to innovate and provide consistent liquidity, but there is an opportunity for regional banks to gain an edge, says Simon Jones, managing partner at Mako FX
Perspectives on 2014: Roger Rutherford, ParFX
With 12 banks now trading on ParFX as members, the platform will open up to the buy side in the coming months, which will test the strength of its business model and trading rules
Offshore RMB market booming in London, report finds
A study by the City of London Corporation reveals the City's efforts to become a global hub for renminbi business are paying off, with daily spot value reaching $4.8 billion last year
Extent of Sef-driven fragmentation revealed in Isda survey
Almost 80% of respondents indicate that Footnote 88, which required all platforms to register as Sefs by October 2, has resulted in fragmentation of liquidity in FX options and NDFs
Caplin launches hosted single-dealer platform service
Caplin Direct managed service is designed to provide an out-of-the-box platform for banks looking to distribute FX liquidity
Sberbank looks to FX growth as ruble accelerates
As Russia's central bank looks to a free-floating currency regime by 2015 and CLS pushes the addition of the ruble, Sberbank's new FX trading head Steven Weller sees significant growth opportunities