News
EU non-cleared margin regime set to take effect in January 2017
EC expected to publish its final non-cleared margin rules on October 4
Banks warn prime brokerage clients of ‘material’ MVA costs
Some buy-siders are reassessing relationships as a result
EBS launches Live Ultra data feed
Participation criteria set at $200 million of price maker orders as minimum and requires participants to act as makers at least 40% of the time
ITG hires Costa-Santos and Nogueira
Costa-Santos will be head of FX, while Nogueira will be a director in the analytics team
ForexClear volumes to hit $300 billion in September
The 100% growth compared with August comes as dealers in both the US and Europe expect costs to rise
CLS to launch payments netting service
CLS Netting, expected to go live in late 2017, will allow institutions to net trades currently not included in the CLS settlement service
INTL FCStone subsidiary upgrades payments platform
Global payments division launches Fix protocol for cross-border payments in exotic currencies
BIS: EM central banks up FX intervention to preserve stability
Maintaining financial stability shown to be increasingly important for EM central banks operating in FX markets
Jer takes over from Sinclair as MarketFactory chief
James Sinclair to become executive chairman of MarketFactory
LMAX pushes into North America with new matching engine
New liquidity pool based in NY4 is aimed at funds, asset managers, brokers and banks
Trenner launches new venture post-EBS
He leaves post of head of corporate development for EBS BrokerTec
Covered interest parity anomaly signals trouble ahead if volatility picks up
Since the financial crisis, a persistent breakdown of covered interest parity signalled an anomaly in the market. Over the last two years the phenomenon has accentuated and policy-makers should not dismiss its meaning, warns the BIS
Perseus to speed up Chicago-Tokyo route
Connectivity firm to deliver round-trip latency below 120 milliseconds, which it says will be the fastest in the world, when improvements are completed in February
Corporates expect long-term negative impact of Brexit
45% of corporates domiciled in continental Europe believe Brexit will have a negative impact; with almost 30% of their UK counterparts sharing the sentiment, says a survey by Greenwich Associates
Apostol to join Credit Suisse hedge fund sales team
He moves from a similar post at RBS
BTIG snatches Silver from Nomura
Silver is one of two senior hires the firm makes as it continues to expand its FICC team
Shay trades Virtu for Nasdaq
Shay was appointed senior vice president and global head of fixed income and commodities
FX markets not positioned for Fed hike
Investors are still sceptical of Fed action, and participants are looking at commodity currencies for better opportunities
R3 and Axoni conclude DLT trial for bonds
Proof-of-concept project explores uses for distributed ledger technology for bond issuance processes
Salmon warns on adherence as strategic decisions loom
In an exclusive interview with FX Week, the BoE's Salmon floats regulation as a possible vision for 2020; for now last look stays
SmartTrade launches big data analytics solution
The new solution, called smartAnalytics, will allow clients to generate graphical reports on pre-trade, execution and post-trade performance via a TCA tool
Banks get partial reprieve in FX lawsuit but claims still stand
Non-settling banks in FX class action lawsuit eke out small victory after US district judge tosses out some allegations of manipulation
Bonamy joins HSBC in newly created role
New global head of FX and commodities arrives after long tenure at Societe Generale
VTB says trades in line with rules at the time, after CFTC fine
US regulator fines VTB $5m for fictitious USD/RUB block trades, but VTB says penalty due to rule change, not non-compliance