News
China may never open capital account fully, panellists say
2020 target for renminbi internationalisation looks remote as China may join countries with asymetric capital accounts instead
Sousa to head Nordic sales at 360T
Minna Lehto Sousa replaces Niklas Blide who is retiring
Flax goes to Broadway Technology
Daniel Flax joins the technology provider's professional services in New York
FX market activity shrinks for first time since 2001
The BIS's triennial survey of FX markets shows a headline figure of $5.1 trillion, down from $5.4 trillion in 2013
Former Barclays trader banned and fined $1.2 million by the Fed
Christopher Ashton, ex-global head of FX spot in London, used 'unsafe and unsound practices' to manipulate FX rates
NBLPs face credit challenges as banks protect their role in FX
NBLPs' narrow focus could prove the saving grace as banks' businesses span a wider range of products
Spot FX is a ‘bankrupt business’ if economics don’t change
The complexity and choice available to participants has increased at the same time as liquidity provision dynamics have shifted, upending previous business models, panellists say
Buy-side FX trading curbed as margin rules take hold
Prime brokers will cut off access to dealers if they fail to agree revised CSAs
Connectivity comes into focus as liquidity sags
Increasing participation from buy-side firms and deteriorating liquidity conditions boost cloud providers
Market data is the new battleground in FX
Innovation in the space has been lagging for years, despite high costs, but challengers are now emerging
BIS completes draft of Global Code of Conduct phase two
The FXWG plans to send the document to various FX committees in the coming weeks
Uncleared margin kick-in raises clearing-house rules
In the run-up to the new rules coming into force in the US and Japan, volumes surge on ForexClear
Renminbi use in South Africa surges
Payments in the currency soar by 65% over the past year
TraderTools plans buy-side build-out
Firm puts buy-side clients in its crosshairs; discusses potential execution options and plans to tap hidden pools of liquidity
Russell expands execution platform again
The asset manager gives access to clients using the order-management system from Eze Software
Colt races ahead with North American expansion
The firm plans to hire a regional head by the end of September
Bailey plans to exit ACI in October
South African chapter president Brigid Taylor expected to be interim president and will be in the running for a permanent role
Saxo hires two to boost Mena presence
Camara joins as head of Saxo Dubai, while Ahmed will be the head of institutional business development
Tullett Prebon names Shelley global head of corporate affairs
Rebecca Shelley was previously group corporate affairs director for Tesco
MAS looks to overhaul payment systems
City state has access to some of the most advanced payment systems, but cash and cheque usage remains high
CFTC charges and monitors Deutsche over swaps violations
Agency says incomplete, inaccurate data affects what is made publicly available and the data it uses to gauge systemic risk
Interactive Brokers to leave US retail FX
Move will see the number of firms in the space dwindle to four
Banks trial distributed ledger for trade financing with R3
Firms are keen to move from paper-based to digital contracts
UBS reshuffles EMFX options trading team
Swiss bank trims London team, relocating one trader to Singapore