Wholesale
JP Morgan: beating lower margins, flat volumes and the competition
Foresees collaboration with clients and technology providers on FX tech infrastructure, and working with regional players
Spotex expands institutional offering with JP Morgan and NatWest
The banks’ prime brokerage desks seek diverse liquidity pools that could lead to better execution for their algos
MUFG eyes financial institutions, pension funds in expansion
Japanese bank wants to build a broader client base beyond corporates
Record builds synthetic FXPB offering
Specialist currency manager will use tri-party model to move securities collateral between banks
Electronic trading differentiates dealers competing for market share
Technology and business scope keep JP Morgan and Citi at the top, but selectivity has some dealers gaining momentum
HSBC brings in fintechs to strengthen its FX muscle
Bank quietly enlists fintechs to work within its fold, both to expand its capabilities and to let it focus on “superstar” technology in-house
RBI forms task force on offshore rupee
Task force will examine the effects of the offshore market on exchange rates and domestic liquidity
The ‘Cartel’ three: not guilty, but still paying a penalty
Despite their acquittal, the former FX traders face obstacles in trying to rebuild their careers – meaning the DoJ didn’t fail, says one expert
BNY Mellon opens Program Trading Desk in FX business reshuffle
Bank adds segregated execution desk to boost confidentiality for clients with high-level transactions
LMAX adds credit intermediation for spot FX trading
BNP Paribas and JP Morgan are working with the firm as credit intermediaries
Evia: rising capital costs to encourage mergers in 2019
Trend of mergers and acquisitions in FX industry set to continue, says Alex McDonald
Advanced Markets adds Standard Chartered as prime broker
UK bank becomes Advanced Markets’ second prime broker after UBS
Record brings ESG into currency management
Specialist currency manager develops database and methods for improving ESG credentials of its product
European FX lawsuit may follow soon, says source
Institutional investors filed a lawsuit in NY against 16 banks on November 7, which could be followed by European complaint
Advanced Markets launches London operation
Nina Baksh will lead the London office for the FCA-regulated firm
NatWest Markets’ FXmicropay takes to SAP cloud
It automates currency conversion and guarantees exchange rates
Barclays gives Specs to FX participants
The client portal originally launched for equities in 2015 is now available for foreign exchange
Marex Spectron re-enters FX with new platform
After a four-year hiatus, the broker rolls out offering geared at smaller players that large banks find relatively unattractive
European corporate FX losses triple
Currency losses at their highest since the first quarter of 2017, reports FiREapps
Venue competition heats up as e-FX volumes plateau, says Greenwich
Following 74% growth in electronically executed FX in 2007-14, volumes flattened for four years
NYDFS fines Deutsche Bank $205m for FX
Fines relate to practices between 2007 and 2013, when Deutsche was the world’s largest dealer by market share