News
Citi takes proactive stance on FX bonuses
Citi's FX traders will lose their cash bonuses if they are let go this year and are seen to have committed misconduct
Esma puts NDF clearing on hold
The European regulator takes a step back from proposing a clearing obligation for NDFs in the wake of market feedback
MFX Compass hires ex-Goldman Sachs exec
In this newly created role, Robinson will oversee the global distribution of the company's e-FX trading technology to institutional clients
Eric Auld leaves BNP Paribas
The French bank looked internally to replace Eric Auld, appointing two experienced co-heads for sales and trading
Gerko to exit GSA and set up market-making business
Head of GSA's market-making team is set to go it alone in July
Messinger to leave BNY Mellon this quarter
His move comes amid a merger of the bank's global markets group with its global collateral services and prime services groups
SNB fallout highlights danger of agency only models
Retail brokers with agency only models suffered steep losses following the SNB decision while principal brokers came out relatively unscathed
FxPro hires e-FX sales manager
15-year financial services veteran joins FxPro in London
Tradition bolsters senior ranks with three hires
Wilson becomes managing director and Torrey joins strategic development at Tradition, while Mountain will lead North American business development for Trad-X
EBS set to unveil new trading platform
EBS brings together all of its liquidity sources in one integrated trading venue
Denmark cuts rate for third time in 11 days
Danish central bank cuts its deposit rate for the third time since the Swiss National Bank decided to abandon its exchange rate commitment; rate now sits at -0.5%
Uptick for Thomson Reuters’ volumes
Overall volumes for all transaction types rose to $350 billion, but spot volumes decreased from the previous month
Saxo Bank seeks to recover negative client balances after repricing trades
Group CFO says the bank's priority is to deal with the situation in a "fair way"
Settlement hopes boosted by US court decision
Judge throws out banks' plea to dismiss FX class-action lawsuit, bolstering the likelihood of more settlements
Northern Trust Emea FX sales head exits
The Chicago-headquartered company loses its head of FX sales for Emea in London
Traiana's Solinger exits
The chief marketing officer ends his second stint at the post-trade service provider
FastMatch volumes drop amid FXCM's difficulties
Institutional clients have become wary of trading on FastMatch following FXCM's $300 million bailout by Leucadia earlier this month
FXCM to forgive 90% of negative balances
US broker will not seek to recover client losses, but will look to recoup money from 10% of customers
Bats Global snaps up Hotspot as it moves into FX
US equity exchange operator buys Hotspot from KCG for $365 million in cash
Moscow Exchange to increase ruble tick size
Alteration follows a recommendation by the Russian exchange's FX market committee in November
October saw FX turnover reach new heights
UK foreign exchange volume rose from $2.4 trillion in April, while FX spot and options were the main winners across jurisdictions
Credit Agricole appoints head of G10 FX trading
FX veteran reports to Bryan Scarfone and Tony Botting in New York
Roworth joins Sucden as co-head of e-FX
Wayne Roworth is appointed co-head of e-FX at Sucden Financial
Analysts see volatility but no contagion after Greek vote
The election results are viewed as a mandate to seek a tough renegotiation of the bailout, but strategists still consider a worst-case scenario unlikely