News
Stelrox Capital Management appoints CFO
The firm hires financial markets veteran Richard Garlick
IG under fire from clients with huge negative balances
Customers log complaint with Financial Conduct Authority and hire legal counsel in EUR/CHF case
Renminbi hits two-month high in wake of dovish Fed
Renminbi reaches highest level against US dollar in two months as Fed cuts projected rate path; volatility suggests market discomfort with Fed normalisation, says analyst
Paul Buckley exits FastMatch
FX veteran leaves FastMatch, having joined in January 2014
Thomson Reuters sees ADV drop in February
Overall volumes fell by 11% from January to February
FX market reprieve as margin implementation delayed
Large FX institutions gain as BCBS-Iosco delay the starting gun for variation margin until 2016, following industry pushback
Citi chases $25 million in Swiss franc lawsuit
US bank files lawsuit against prime brokerage client over events stemming from the Swiss franc's surge in value
Deutsche MD departs in New York
FX veteran Daniel Swasbrook exits the German bank
Saxo Bank doubles profits in 2014
Benefitting from a strong pick-up in trading volumes in the second half of 2014, the Danish bank says it can swallow a maximum loss of DKK 700 million following the Swiss franc debacle
Credit Agricole deploys DealHub post-trade platform
French bank automates post-trade processes with DealHub
FXSpotStream adds Credit Suisse as liquidity provider
This raises the number of liquidity providers on the platform to 10
BAML's Bae takes leave of absence
Former Goldman Sachs trader takes a break from the market
Mumford joins TradeNext Prime
As senior sales executive, he will develop the institutional business
CFH Group hires Rastogi to drive consolidation
Dipak Rastogi has been appointed to the board
New role for Goodbody at Hotspot
He becomes global head while the exchange confirms all Hotspot staff will stay
Gradual rollout for China's payment system
The country’s cross-border interbank payment system (Cips) will further contribute to the internationalisation of the renminbi
INTL FCStone picks TradAir as e-FX provider
The two firms partner to build a bespoke electronic solution
Banks could face fines of $4bn from US DoJ
The fines being hammered out would nearly double the total already paid to regulators during the currency probe
LMAX Exchange bucks trend with PoP launch
Prime-of-prime offering is differentiated by proprietary pre-trade risk management tools, says LMAX Exchange
UBS pays $135 million in FX benchmark case
The Swiss bank is the latest to settle civil litigation in the US over the manipulation of FX benchmarks
Banks lower EUR/USD forecasts after pair touch 12-year low
ECB's QE and negative rates fuel capital outflows, which will weigh on the single currency in the foreseeable future
Top banks' market share dips as clients pick e-trading
The five largest banks still control just over half of the $5.3 trillion global flows, but dominance wanes
EU benchmark reform beset by delays
The EU parliament is still set to go it alone as it attempts to regulate those administrators responsible for critical financial benchmarks