News
Agency desk growth will be slower than expected, traders say
The chance of 50% of the FX market going to agency execution within five years is viewed as highly unlikely, but some banks wager on agency being the future of FX trading
Thirty firms placed under FX ‘remediation programme’
G-10 FX spot desks are placed under supervisory watch by the FCA as the industry tries to clean up its act
SNB may intervene in EUR/CHF 'as early as this week'
A Yes result would make it difficult for the Swiss central bank to defend its floor
RBS redundancies claim four in FX
Four FX sales staff depart US branch of RBS
Mallett dismissed from Bank of England
Grabiner report unveils transcripts of conversations between Mallett and market participants discussing "matching off" trades
Regulators slam banks with fines totalling $3.4 billion
Five banks have been ordered to pay total fines of $3.4 billion in relation to the global regulatory investigation surrounding FX benchmarks
FX settlements strengthen civil law suit in US
Lawyers representing the plaintiff class in a civil lawsuit in New York have been encouraged by regulators' settlements with banks over their misconduct surrounding FX benchmarks
Should investors fear a rising dollar?
Stephanie Flanders says emerging markets are set for a bumpy ride in the months and years ahead as the greenback rises
'Last look' will prevent settlement with regulators, warns New Change FX
Banks and regulators are preparing to hammer out a deal in relation to the global probe into currency trading, but questions surrounding 'last-look' practices could stall the process in the US
EBS targets regional banks with Liquidity Optimization
EBS Liquidity Optimization signs up 15 customers in one year
Sucden's e-FX volumes almost double Q3 of last year
The record volumes, attributed to new and existing clients, follows the appointment of new head of e-FX Peter Brooks
Treasury announces digital currencies consultation
The consultation will examine the risks and benefits of digital currencies, including the potential threats to the stability of the financial system
Liquidity concerns still haunt Ficc
The cost of maintaining Ficc market-making operations outweigh the benefits for banks, leading to fears that a market event could have serious consequences
UK launches probe into banking sector competition
The investigation will assess whether the retail-banking market is too concentrated, with barriers to entry and opacity under scrutiny
FCA investigates Tullett Prebon for wash trades
Tullett Prebon is being investigated for trades with no economic purpose and one ex-employee is embroiled in it, as well as the Libor scandal
Herman takes sole responsibility as Amrolia moves jobs
Zar Amrolia moves into a technology role, leaving Herman to take sole responsibility for the debt and currency trading business
Flow FX approaches all-to-all market structure
Growing buy-side access to interdealer flows creates an equities-like market structure; banks focus on monetising agency models
Hotspot a good buy for exchanges, says co-founder
Exchanges are likely to be interested in KCG's Hotspot to help them build out their FX business, says Steve Reich of Global Trading Systems
EBS volumes hit record high for 2014 on October 31, topping $200bn
The company records flows of $250 billion on the last trading day of October
BATS Global Markets looks to FX with Concannon hire
BATS Global Markets becomes the latest exchange to take the FX market more seriously as Concannon jumps on board
Hotspot a good buy for exchanges, says co-founder
Exchanges are likely to be interested in KCG's Hotspot to help them build out their FX business, says Steve Reich of Global Trading Systems
Moody's sees $14.5 billion FX fines for top banks
Moody's believes FX settlements could be close for major banks
Gain Capital to buy City Index
The purchase, expected to be completed in Q1 2015, will supplement Gain's GFT Markets buy from last year