News
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
DoJ and anti-trust lawyers compromise over FX lawsuit
The US regulator restricts the finer details of its evidence against banks, but allows counsel to continue its civil case
RJ O’Brien snaps up The Kyte Group
The wholesale broker strengthens its European business as GFI Group offloads one of its subsidiaries following sale to BGC
FX fees boost Moscow Exchange full-year results
The exchange's bottom line is bolstered by FX revenues
CLS on track with Hungarian forint adoption
Currency will be added to settled units in November
Abbott joins LindenGrove Capital as portfolio manager
Ex-Morgan Stanley head of FX options trading joins proprietary shop in London
FXCM discloses data for global market failure event
Retail broker blasts SNB and liquidity providers, highlighting lack of circuit breakers
Putz joins Henning Carey
Global head of FXCM Pro departs for Chicago-based proprietary trading shop
FXCM issues not a US problem, says Massad
The US regulator points the finger of blame at affiliates outside US jurisdiction for making the retail broker's Swiss franc losses worse than they could have been
Deutsche Bank expects EUR/USD parity by end 2015
ECB's QE and negative rates fuel capital outflows, which will weigh on the single currency in the foreseeable future
CME hires Fix to develop benchmark products
The Chicago-headquartered exchange has moved to expand its presence in Asia by hiring DME's chief executive
Buy side seeks alternative ways of handling large orders
Due to the unwillingness of banks to handle larger buy-side orders and the changing structure of the WM/Reuters benchmark
Prime brokers raise capital requirements
Minimum requirements for balance-sheet size upped to as much as $50 million
FX fines could exceed $7.5 billion
Fines from regulators, as well as civil litigation in the US and events since January 15, are taking their toll on the FX industry
Renminbi set to recover losses against dollar
The central bank is likely to announce further cuts to bring more liquidity into the economy as it announces a lower GDP target for this year