News
Abide Financial applies to become trade repository
The transaction-reporting firm may become the third-largest repository by volume; it also launches an accelerated Mifid II/Mifir compliance programme from January 2017
China launches direct trading between RMB/CHF
Swiss franc becomes the seventh currency to trade directly against the renminbi; HSBC gains approval to become a market-maker in the pair when it launches
TPP countries strike ‘unprecedented' deal against currency manipulation
The 12 member states of the Pacific free-trade deal sign a declaration vowing comprehensive disclosure of FX data; members will have to abide by rules against competitive devaluation
Thomson Reuters integrates FX under single umbrella
Thomson Reuters is bringing all its pre-trade tools, trading venues and post-trade capabilities under FX Trading
Non-bank market-makers look to build customer franchises
Alternative market-makers aim to fill liquidity space left by reduced bank capital and move to connect with customers directly
Sell side's appetite for intelligence tools increases
As compliance inches to the fore, more large banks are reaching out to providers of cognitive learning tools
South Korea eyes panda bonds in China
Local media reports that Korean government has submitted formal request to Beijing following financial co-operation deal struck last week that also paved way for direct RMB/KRW trading
WSBA creates working groups to promote blockchain
The trade body aims to pioneer the technology's application in financial markets
FSB finds fault with derivatives trade reporting
Despite large volumes of trades being reported, some authorities have restricted access to data, which is often low quality; some jurisdictions are experimenting with new analysis
JP Morgan and UBS compress FX books via start-up
NYC-based LMRKTS first broke cover two years ago; the third bank participant is unknown
Banks ready for more FX lawsuits amid mixed Q3 results
Barclays and RBS cite further potential FX litigation or investigations in the UK, US and Canada
XTX Markets to provide liquidity on 360T
As of November 3, the market-maker will provide streaming liquidity to the multi-dealer platform
CLS sets go-live date for Hungarian forint
CLS and Hungary's central bank launched the forint project in February 2014
Citi eyes prime brokerage opportunities
By managing its balance sheet, the bank says it can put more capital and assets to work to deepen PB relationships
Puth: FX must repair its reputation
The BIS global code of conduct needs to be strong enough to close the gaps, but members need to find a consensus
Scope of FX suit against banks widens
Co-operation from banks that chose to settle is helping investors
FX currency funds dip on low risk taking
Only eight out of 31 currency managers report positive results for September
Colt launches PrizmNet in the US
The network provider has now set its sights on cities in Canada, with the aim of accelerating market connectivity
Three more join R3 blockchain initiative
The latest additions bring the total number of banks participating in the project, led by financial innovation company R3, to 25
Yuan falls to one-month low after PBoC rate cuts
The currency's weakening signals investor wariness over developments in China; analyst says ‘record' outflows are feeding through to the offshore forwards market
CFTC's Giancarlo blames dwindling liquidity on bank regulators
Insolvency risk has been transformed into liquidity risk, says the commissioner
Sucden adds three to senior management
The derivatives broker positions itself for further growth and an expected increase in regulatory obligations
StanChart's Knight exits
Chris Knight has worked at the bank for more than a decade, serving as chief dealer in FX in Hong Kong before taking the helm in the east for FX, rates and credit
CLS and TriOptima launch FX forwards compression service
TriReduce FX for forwards and swaps reduces notional outstanding volumes and minimises counterparty credit risk