Infrastructure
New York Fed demands better management of FX risks
Greater use of capital and collateral to mitigate all risks relating to FX trading is crucial, warns Jeanmarie Davis, head of financial market infrastructure at the NY Fed
Thomson Reuters matches EBS with revamped strategy
Icap's EBS and Thomson Reuters have initiated major structural changes over the past year; as they continue to evolve their new strategies, and ParFX prepares to launch with the aim of becoming a third primary venue, further structural shifts are set to…
Taming HFT in the multi-dealer FX market
The introduction of a new market-maker status on multi-dealer FX platforms, with the holders of that status required to maintain orders on both sides of the market, would be a positive step in tackling the liquidity risk that arises from high-frequency…
CLS faces uphill battle to meet currency expansion targets
FX settlement system aims to add another 17 currencies within 10 years, but some caution that CLS membership doesn't make economic sense for certain emerging market currencies
360T eyes further growth as volumes rise
Forex multibank platform 360T has expanded in recent years and now trades average daily volume of $50-55 billion, but chief executive Carlo Kölzer sees room to grow further
Fenics partners with Traiana for post-trade connectivity
Fenics Software will use Traiana's Harmony network to connect its clients to trade repositories and central counterparties as mandatory reporting and clearing looms
FX Invest Europe: buy side diverges on value of e-trading
Speakers at FX Invest Europe conference in Zurich last week questioned the benefits of the increasing number of choices when it comes to electronic platforms and trading technology
TraderTools adds order management to hosted aggregation service
New functionality is aimed at regional banks without 24-hour trading desks that need a third party to manage resting orders overnight
Let swap platforms trade futures – Icap’s Spencer
Icap's chief executive says proposed derivatives rules are reinforcing exchange monopolies
EBS launches Indian rupee fix and spot USD/INR
FX platform adds Indian rupee capabilities as it seeks to break the monopoly held by rival Thomson Reuters in the region
Integral targets institutional buy side with InvestorFX platform
New platform launch from Integral is targeted to meet the specific needs of investment managers trading foreign exchange
Cometh the hour, cometh the Sef
Imminent rules are expected from the CFTC on the criteria required of electronic platforms seeking to become swap execution facilities under the Dodd-Frank Act
FastMatch volumes up as BNY Mellon takes stake
The custodial flow from BNY Mellon will help to attract more participants to the growing platform, according to FastMatch chief executive Dmitri Galinov
CLS hires ex-New York Fed veteran to head regulation
Management changes at CLS continue with the appointment of Dino Kos, former head of FX at the New York Fed, as head of global regulatory affairs
Spotlight on: Max Smith, Newedge
In a world where market participants are seeking to reduce risk in trading and ensure efficient clearing, Newedge's global head of FX, Max Smith, believes the firm is uniquely positioned
Managing the costs of liquidity fragmentation
The increase in electronic trading venues in the FX market has created the potential for further fragmentation of liquidity. Banks say the challenge creates an opportunity for technology vendors, but what solutions are on offer? Robert Mackenzie Smith…
Options clearing pushed to 2014 as solution search begins
As the search for a viable clearing mechanism for FX options begins, market participants suggest clearing won't begin before 2014
MarkitServ partners with Misys to boost FX clearing
Users of the Misys Confirmation Matching Service will be able to use MarkitServ's clearing connectivity to route FX derivatives to clearing houses
Digital Vega to add spot to Medusa options platform
FX options platform to add spot trading functionality this week in response to client demand, assisted by State Street-owned Currenex platform
Exchanges poised for further volume growth in FX
Both exchanges and ECNs have reported an uptick in FX trading volumes in January, but some suggest exchanges might be the biggest winners as activity rises in forex futures and options
Barx FX, a decade on
Electronic trading in the FX market has evolved almost beyond recognition over the past decade, but single-dealer platforms continue to gain in popularity as banks feed increasing resources into their platforms. Miriam Siers speaks to Barx FX head Tim…
FX Concepts moves execution to MarketFactory aggregator
New York-based currency hedge fund switched from Thomson Reuters to MarketFactory last month as it seeks to rationalise and simplify the process of aggregating liquidity
TraFXpure adds Nomura and BTMU ahead of launch
Tradition's new platform now has 11 founder members and has been renamed ParFX as it moves towards 'imminent' launch
LCH approved for client clearing on ForexClear
The clearing house expects to begin client clearing for FX NDFs during the first quarter, and has now surpassed $500 billion in cleared volume for interbank NDFs