Infrastructure
Nex: more data and better analytics in 2018
This will lead to better execution outcomes for clients
CLS: politics and technology will be main drivers in 2018
Distributed ledger technologies will be used increasingly while cryptocurrencies gain ground
MarketFactory sees more fragmentation and a rebound for prime
Activity on Clobs will also increase due to best execution requirements
LBC selects Bloomberg’s FXGO for treasury
Philippine logistic company eyes further expansion and looks for seamless trade execution
ForexClear prints new record, clearing more than $100bn in one day
And recently launched G10 NDF service clears over $700m in a month
CFTC approves CME and Cboe bitcoin futures
But warns investors it has limited statutory authority over the underlying cash markets and exchanges for bitcoin, which are largely unregulated
LCH SwapAgent processes first cross-currency basis swap
It is the first non-cleared trade to be transacted as LCH STM, SwapAgent’s settlement-to-market legal and operational framework
Renminbi's share of payments drops 19% in October
Chinese currency slips behind Swiss franc and Canadian dollar as seventh most-used currency for global payments – Swift
Barracuda FX launches OMS Cloud
New cloud-based OMS will include many FX features such as connectivity to Barracuda’s Order Hub service
Cboe FX boosts market share in October
Volumes up, driven by activity in European and Asian trading sessions
Nex commits to FX Global Code, sets up public register
The company commits to adhere to the principles of the code of conduct
Crown Agents Bank launches FX trading platform
UK-regulated bank provides a link between developing markets and OECD governments, financial institutions, NGOs and corporates
MarkitServ rolls out workflow automation for cross-currency swaps
Enhanced service launched in conjunction with CLS and LCH
Seven sign up for CME’s over-the-counter NDF-clearing launch
The exchange is set to launch the service in the first quarter of 2018
Nex optimises post-trade OTC FX with direct clearing connectivity
By removing secondary matching, Nex optimises post-trade workflow and maximises benefits of clearing
Thomson Reuters commits to FX Global Code
The venue joins a number of early adopters in pledging to support better behaviour in the currency market
Market participants start testing Mifid II systems
But they do not feel fully ready for the sweeping changes taking effect on January 3
BayernLB selects smartTrade’s FX platform
The German bank will use LiquidityFX to meet its connectivity, aggregation, pricing, execution and risk management needs
FastMatch expands with Connecticut sales office
The FX trading venue draws closer to major hedge fund clients
R3 to unveil real-time payments prototype
The aim is to improve the speed and efficiency of global transactions
CME to launch bitcoin futures
Pending regulatory approval, the cryptocurrency will become available on the world’s largest derivatives exchange operator by the year-end
BestX launches reporting module, partners NAB
The Australian bank is the latest FX dealer to sign up for the transaction cost analysis service
Cobalt chooses Solace for post-trade information processing
The move aims to guarantee incoming messages can be processed consistently, especially during bursts of heightened market activity
The trend towards best practice in institutional FX settlement
Marisa Kurk, senior managing director and chief operating officer at Mesirow Financial Currency Management Group, explores best practice in foreign exchange settlement