Infrastructure
EBS Direct suffers outage, trades unmatched overnight
Glitch started in Asian trading but did not affect EBS Market platform
Banks looking to back bitcoin with new exchange
Digital currency bitcoin is set to be launched on an NYSE-comparable exchange this year with the backing of the institutional market
Lab49 unveils platform partnership with UBS
Technology consultancy has been working with UBS on its Neo platform since 2010, the firm reveals today
CME Europe set to launch FX futures in April
After a significant delay to the launch of its flagship European exchange, CME Europe will launch next month with 30 FX futures contracts
CLS appoints Ken Harvey as chairman of the board
Harvey will take over from Hartsink later this year as chairman of the board, when Hartsink retires after seven years
CLS set to add Russian ruble in November, source says
Industry settlement utility CLS is poised to add the ruble to its currency universe in November
Eurex hopes to steal march on rival CME with FX launch
After delays, Eurex may launch FX futures and options by summer
Hungary targets forint entry into CLS
Hungary's central bank has committed itself to bringing the currency into CLS, FX Week understands, and sources believe it could be added as early as next year
Icap sees steady NDF volume on Sef
Reported data shows Icap's Sef trading roughly $6 billion daily volume in non-deliverable forwards but other Sefs have fared less well, including Integral, with just one trade
DealHub names Jyske Bank on FX Distribution Hub
FX technology firm DealHub publicly announces a second bank using FX Distribution Hub, following on from Commerzbank in September
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
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
Perspectives on 2014: Gil Mandelzis, EBS
Last year was one of both innovation and frustration for EBS, as it continued to push new initiatives amid falling trading volume, but chief executive Gil Mandelzis is bullish for the future and believes the volume will recover
Perspectives on 2014: David Puth, CLS
Working with dealers and central counterparties on settlement of centrally cleared FX options is a ‘high priority strategic objective’ for 2014, says CLS chief executive David Puth
FX clearing a priority for 2014, vows CLS chief
Working with banks and CCPs to facilitate central clearing of OTC FX options is 'high priority strategic initiative' for CLS this year, says chief executive David Puth
EBS to consider latency floor extension within weeks
Analysis of the randomised pause applied to AUD/USD and USD/CHF is almost complete, allowing EBS to consider an extension to other currency pairs, says platform chief
Thomson Reuters ‘considering’ randomisation on Matching platform
The largest FX trading platform by volume could be the latest trading venue to apply randomised pauses, following EBS and ParFX
Dealers losing exclusive role in FX, BIS report notes
A new analysis of the 'anatomy' of the FX market notes the increasing influence of non-dealer financial institutions, following this year's triennial survey
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
SG CIB joins ParFX as latest bank member
The French bank has become the 12th founder member of ParFX, while Bank of America Merrill Lynch started trading last month without becoming a member
Sefs battle with confirmations after CFTC relief expires
A second no-action relief period that exempted Sefs from issuing confirmations expired on November 29, leaving FX traders unsure whether Sefs can handle the requirement