Trading
Ficc revenues bounce off lows but still down
European banks bounce off lows in Ficc revenues in the first quarter of the 2018, but year-on-year earnings remain negative
Former Wells Fargo FX trading head sues for wrongful termination
Simon Fowles claims he was fired days before he intended to alert regulators of a payment-incentive plan that fostered greed
Cboe Sef adds more currency pairs
The platform offers NDF trading in USD/RUB and USD/PEN
FX volumes dip in March
But trading activity on most platforms remains strong year on year
JP Morgan dominates G10 FX revenues for 2017 – survey
Coalition’s investment banking survey shows the US dealer garnering the highest revenues in the space; HSBC jumps to second place
Antitrust attorneys prepare to depose UK traders
Despite the court extending a partial stay on depositions until June 8, lawyers have been granted access to interview some UK-based people
Salmon exits GFXC and BoE for private-sector opportunity
Federal Reserve Bank of New York’s Simon Potter will act as interim chair with immediate effect
Antitrust claims deadline extended to May 16
Investors seeking to receive part of the $2bn-plus settlement have two more months to file a claim as the deadline is pushed back from March 22
European banks see Ficc revenues slip in 2017
In contrast to robust trading activity in 2016, Ficc trading fell across the board
Apac investment bank revenues at five-year low
Australasia was the best performing region across Apac in 2017, with Ficc and equities revenues remaining stable
FCA: TCA ‘unlikely’ to fall under research
Third-party transaction cost analysis fees will be difficult to include in the spread if they do not count as research costs
Ficc revenues tank at US banks
Revenues were dampened by low volatility throughout most of 2017, among other factors
IA calls for more last look disclosures
Investment Association says venues must take more responsibility for monitoring behaviour and LP adherence to FX Global Code
FastMatch revenues show strong growth
FX trading platform contributes 7.2 million euros in revenues to parent Euronext in less than five months
Markets may be underpricing Brexit risk
‘We don’t see a situation where the UK is going to come out of this with a favourable deal’ – Mizuho currency strategist Sireen Harajli
Bank G10 FX revenues at lowest since 2006 – Coalition
G10 FX revenues continued their decline in 2017 to levels not seen in more than a decade
BNY Mellon launches FX trading room in South Korea
The bank aims to improve pricing and liquidity for regional and global market participants
Blockchain-based tool offered by smartTrade
Clients will be able to subscribe to the new service and access it through an open API
TCA will increase fragmentation, says Sinclair
Execution spreads across more secondary venues as algos seek platforms with least signalling risk, says white paper by MarketFactory
Sigelbaum joins TR to lead FXall
Jill Sigelbaum replaces John Cooley, who left Thomson Reuters in November
FX volumes rebound in London and New York
Semi-annual surveys of seven major central banks show FX activity in the US and UK rising by 7%
Taifex adds sterling and Aussie futures
The GBP/USD contracts will trade in sizes of 20,000 and the AUD/USD futures in clips of 25,000
Best execution tops list of daily challenges – JP Morgan survey
The bank questioned more than 400 institutional investors about e-trading trends for 2018 in fixed-income and commodities markets
Clarifying the murky language of liquidity
Campbell Adams, founder of the Pure initiative that now operates as ParFX, has a grudge against misnomers