News
World FX trading volumes down 8%
FX committees report sinking trading volumes in the UK and US, but they were up in Japan, Singapore and Australia
Renminbi direct payments make inroads in Middle East
The Chinese currency ranks first when the UAE and Qatar make direct payments to China and Hong Kong
NZD slides to four-month low as central bank hints at easing
Kiwi reaches lowest levels since October as the RBNZ suggests a prolonged inflation battle; exchange rate predicted to weaken
Former RBS trader wins unfair dismissal lawsuit
Ian Drysdale was unfairly dismissed by RBS in 2014, but he will not receive any compensation, judge rules
Seabury FXone seals product agreement with Spotex
The firms are looking to expand their institutional client base
Banks explore Mosaic platform to help ailing Ficc revenues
The aim is to discover new business opportunities and more valuable clients
London jury acquits Libor brokers of fraud
The former traders were accused of working with Tom Hayes to fix the benchmark
Hotspot launches private liquidity pool tool
Users will be able to create their own customised pools to suit their trading needs
Corporates face 'disaster' on renminbi Tarfs, say traders
Some companies "may run out of cash"; Taiwan regulator said to be looking at new restrictions
ParFX adds Hungarian forint
EUR/HUF and five other currency pairs are now available on the electronic platform
Andrew Bailey to head the FCA
The new chief of the UK's Financial Conduct Authority will step into his new role in July
Samsung Securities gains third-party access to CLS
The securities company is the first non-bank financial institution to join CLS in South Korea
Declining spot sinks FX volumes in US
In October, average daily volumes were 26% lower than in the same month of 2014
SocGen hires O'Hara as PB sales director
Formerly of Credit Suisse, John O'Hara will be responsible for promoting Societe Generale's FX prime brokerage offering to hedge funds and institutional investors
Ruble slides to all-time low
The recent falls in oil prices have dragged the Russian currency with it
China's central bank explores digital currencies
The PBoC is studying the possibility, alongside a team of researchers, major financial institutions and advisory bodies
Hong Kong peg to be tested by speculators, say analysts
The HK dollar hits its lowest level in nearly a decade, placing the peg ‘under fresh scrutiny' and prompting fears of possible attack
PBoC pumps $61bn into China's financial system
The cash injection comes ahead of the Lunar New Year, which usually sees an increase in demand for money
Nembrini joins Quantic Asset Management
London Capital Group's former head of institutional sales and trading joins the asset manager, focused on FX
Abacas issues first asset-backed coin on bitcoin blockchain
The exchange, launched in June 2015, allows managers to exchange assets without owning them
Q4 Ficc revenues drop for US banks
Firms also experienced falling revenues last year, amid challenging conditions
R3 connects 11 banks via distributed ledger
The firms complete mock trades in a series of experiments that could determine blockchain's application in the finance industry
ITG names new board chairman and chief executive
Minder Chang becomes chairman while Frank Troise returns to assume the role of chief executive
Pearson leaves RBS
Head of FX exits the bank following sabbatical