Infrastructure
SurfacExchange faces uncertain future
Market participants report the multibank FX options platform that launched in mid-2011 has gone quiet in recent months following the exit of its chief executive
Options platforms struggling with dearth of liquidity takers
Some FX options platforms have struggled to gain traction in a new and untested market, but banks say the problem is one of low demand for, rather than provision of, liquidity
UniCredit eyes growth in institutional FX without e-commerce focus
As the Italian bank looks to extend its client footprint into the institutional space, further development of its FX platform is not a central part of the strategy
Traiana pitches for LCH’s FX clearing flow
Vendor adds ForexClear to Harmony CCP Connect, more than two years after it first launched the clearing network with CME Group as the first clearer
Aggregation hampered by predatory execution
New aggregation guidelines from EBS could help to increase transparency of aggregation, but the relationship between liquidity makers and takers remains strained
MarkitServ squares up to Traiana over pre-trade hub
Most participants believe the market will centre on one provider for pre-trade credit checking and clearing certainty - but both MarkitServ and Traiana hope to win the race
EBS takes aim at maligned aggregation practices
Icap’s EBS is setting out new best practices on aggregation and will only connect to aggregators that adhere to them, as it seeks to further overhaul the experience of its liquidity consumers
ParFX targets buy side inclusion by Q4
The platform will open its doors to non-bank market participants later this year in what will be the real test of its level-playing-field design
CLS membership will allow more ‘flexibility’, says Natixis
Natixis became a full settlement member in May, as CLS continues its mission to expand the use of the central settlement risk mitigation utility
StanChart expands e-FX experience into credit and rates
Following a reorganisation of its electronic trading business at the start of 2013, Standard Chartered’s Chris Knight now has responsibility for e-commerce in the eastern hemisphere across three asset classes. He talks to Joel Clark about what credit and…
Questions remain over finer details of Sef rules
The countdown to compliance with the Sef rules has begun following their entry in the Federal Register, but some platforms still have questions over the proposed model for a Sef
Buy-side vendor Charles River taps 360T for FX
360T to connect Charles River to FX dealers and regional banks, removing the manual processes currently required to trade currencies through its investment management platform
Consensus lacking on optimal length for randomised pause
The concept of applying a randomised pause to FX trades as a means of deterring disruptive behaviour has garnered support from the users of both EBS and ParFX. But how long should the pause be in order to be effective but not damaging to genuine…
FX prime brokers forced to terminate double give-up trades
Prime brokers have had to cancel four-way agreements for trades involving two buy-side firms, on the basis that a no-action letter issued by the CFTC on April 30 did not cover this type of business
CLS hits new record as FX volumes spike
Almost three million payment instructions were settled by CLS on Tuesday following a surge in trading volumes towards the end of last week
Westpac partners with Broadway Technology for aggregated solution
Australian bank replaces in-house aggregation tool with a white-label offering to increase capacity
Hotspot reduces 'last look' response time by 100 milliseconds
Although the platform reports the cut has already had a positive effect, dealers working outside Hotspot's base in New York could experience latency issues
Bloomberg takes aim at Thomson Reuters Dealing
Bloomberg's chat-based FX trading tool, Instant Bloomberg Dealing, starting to rival Thomson Reuters' offering
Traiana announces first futures commission merchant live on CreditLink
Traiana completes production testing with futures commission merchant on pre-trade hub that aims to provide clearing certainty
Japan's Mizuho joins CLS Aggregation Services
CLS and Traiana-backed aggregation engine extends global reach with addition of Japanese bank
FastMatch launches matching engine in London
The FXCM venture, which uses Credit Suisse technology and has backing from BNY Mellon, aims to offer real-time spot FX pricing in Europe
Buy-side take-up of execution systems threatens ECNs
As buy-side firms reorganise their execution desks, multi-dealer platforms may need to rethink their position in the FX market
EBS Direct begins beta testing with four liquidity providers
Icap's push into disclosed FX liquidity takes a further step as EBS Direct enters beta testing
Banks welcome EBS latency floor
EBS consults on a new approach it hopes will reduce the advantage of super-fast trading algorithms