Infrastructure
Pragma launches triangulation algo for crosses
New functionality will enable clients to achieve better execution when trading illiquid currency pairs
Currenex and EBS mull venue-hosted last look
Platforms consider becoming third-party operators of last look to separate the function from liquidity providers
Thomson Reuters completes Mifid II desktop enhancements
The firm starts onboarding clients to its improved multilateral trading facility
CME moves to build liquidity in new FX futures contracts
The firm is switching on implied functionality to link spreads and outright markets
ParFX is not for sale
Four years after the launch of the randomised platform, it still has room to grow, says CEO
Deutsche Bank research says more is not always merrier
Increasing the number of LPs in an aggregated environment can harm execution quality
Citadel Securities partners BestX for TCA
The first non-bank market-maker to allow clients to evaluate execution quality via BestX
Randomisation raised level of conversation, say Weisberg and Mandelzis
Former chiefs of EBS BrokerTec and Thomson Reuters FX praise contribution of Campbell Adams and former rival ParFX
Nex Optimisation rolls out settlement-netting service
The industry gains the first fully automated settlement-netting offering for over-the-counter FX
Renminbi's share of payments rises slightly in May
China’s currency regains position as sixth most used currency for global payments in May, with 1.61% share – Swift data
TriReduce hits $1 quadrillion in swaps compressions
Demand has been high as banks seek to lower exposures
CME looks to launch FX options clearing in Q4
Following regulatory approval, the exchange looks to start dealer-to-dealer clearing in Q4 and client clearing in 2018
Sucden Financial selects smartTrade’s FX platform
The institutional broker chooses LiquidityFX to support its expansion drive
FastMatch to hike rates from July
Following its $153m acquisition by Euronext, the platform has a clear path to expand into Europe and Asia
Silverman to lead first ECN launch in three years
The new spot FX venue, Fenics FX, comes from BGC Partners, with Hotspot co-founder Howard Silverman at the helm
Renminbi’s share of global payments slips behind Swiss franc
Decline in the Chinese currency’s internationalisation continues as it loses its ranking of sixth place globally – Swift
Broadway Technology aims to expand FX footprint
Moves comes after a recent $42m investment armed the firm with the capital to expand into FX and fixed income
Nex Group rolls out post-trade platform
Nex Infinity, created by Nex Optimisation, goes into production testing for FX and cash equities in July
Euronext buys FastMatch
European stock exchange enters FX space with purchase of ECN for initial $153 million
LMAX Exchange reports record profits for 2016
FX platform posts EBITDA of £5.6 million, representing annual rise of £4.2 million
Broadway Technology secures $42m for expansion
Long Ridge Equity Partners says Broadway well positioned to take advantage of rapidly evolving capital markets landscape
CLS to replace core settlement system
Overhaul will leverage conventional technology rather than the blockchain solution underpinning the new CLSNet service
Pragma launches algo trading capability for NDFs
New set of products on Pragma360 expected to boost liquidity and best execution for emerging market currencies
Noble launches its first FX product
Noble FX provides real-time settlement and aims to solve the credit gap through peer-to-peer connectivity