Infrastructure
Ice shelves plans to launch FX clearing
Ice pulls out of the OTC FX clearing race, citing regulatory delays in finalising rules for mandatory clearing of OTC FX products
Tradition launches ParFX, aims to topple EBS and Thomson Reuters
Bank-backed spot FX platform ParFX hopes to rival incumbent platforms EBS and Thomson Reuters
Citi aims to strengthen grip on corporates with platform upgrade
Latest version of CitiFX Pulse seeks to offer corporate clients better FX exposure management
Traiana launches swap data repository reporting hub
Harmony TR connect provides a single point for connection to the DTCC's swap data reporting systems and other trade repositories
Market questions FXCM's $210 million bid for Gain Capital
Market participants divided over how much value Gain Capital really holds for hostile bidder FXCM
Nasdaq OMX to launch FX clearing in November
Stockholm-based clearing house becomes the latest to announce its intention to enter the FX space
Russian banks weigh up benefits of CLS membership
Local liquidity providers are pivotal to CLS success in the ruble, but Russian banks are not yet convinced of the benefits of membership
Dukascopy partners with Forex FS in Australia
White-label agreement gives Forex FS clients access to transparent aggregated data feed
Volkswagen Brazil chooses FXGO to manage currency risk
German car-maker's Brazilian subsidiary plans to employ Bloomberg's FXGO across South America to manage global currency exposure
UBS becomes eighth liquidity provider on FXSpotStream
Swiss bank scheduled to be live by late in the second quarter as the aggregation service continues to gain traction, with plans to expand into new products
MarkitServ upgrades CCP interfaces to enable FX reporting
Middleware provider has revamped the FX clearing interface with LCH.Clearnet and CME Group, to meet CFTC rules requiring CCPs to report
Bloomberg may set up futures exchange
Trading venue looks to hedge its bets if it fails to close the margin gap between OTC swaps and futures
Trade reporting hits hurdles as regulators overwhelmed by data
The CFTC last week admitted it is having trouble making sense of the masses of OTC derivatives data now being reported to repositories, casting doubt on the stability of the new reporting regime
Complexity and costs of clearing continue to cause concern
Mandatory clearing of OTC derivatives could lead buy-side firms to leave a greater portion of their risks unhedged, warn speakers at a buy-side conference in London
IPM sees buy-side differentiation through early adoption of e-FX
Fredrik Wingren, head of trading at Informed Portfolio Management in Stockholm believes being an early adopter of new technology gives the firm added clout in helping develop products in conjunction with the sell side
Banks vie for position in taking EM currencies electronic
Electronic trading is beginning to take off for emerging market currencies as banks race to meet client demand for a means of trading EMFX electronically. What unique challenges exist when it comes to e-FX in emerging markets? Miriam Siers reports
MAS warns on fragmented clearing and reporting
Asian financial markets have made progress in setting up CCPs and trade repositories, but greater harmonisation is needed across borders, Singaporean regulator warns
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