News
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
TD Securities FX trader departs
FX market veteran exits the Canadian bank in London
Product launches, November 3, 2014
Product launches and announcements in the FX industry
Toland joins MarketFactory as vice-president of sales
He previously worked at EBS and Thomson Reuters for six and 10 years, respectively, and will now lead MarketFactory's sales efforts
Fry exits LiquidityPool after sale to Xenfin
Paula Fry previously worked at Citi, and for more than 14 years at Goldman Sachs
KCG open to Hotspot sale
The financial services firm has expressed an interest in selling FX platform Hotspot, despite a rise in year-on-year volumes
Bank of Japan easing reaffirms dollar bull trend
Strategists see USD/JPY trading at 115 before the year-end and at 120 by September 2015
Banks set aside more than $6 billion for FX fines
Large currency dealing banks prepare to draw a line under the global regulatory probe into currency markets as they brace themselves for fines
Surge in RMB payments between offshore centres
Share of RMB activity for international payments between offshore hubs reaches 3.25%, and usage grows for payments, FX and trade finance
Stock connect to boost CNY as portfolio inflows could double
CNY is set to be the only Asian currency to rise against the USD next year, on the back of growing overseas investment and the PBoC's reluctance to weaken the currency to boost growth
FXPro hires in e-FX sales
Retail broker continues to build out institutional arm with new recruit
UBS hires FX hedge fund salesperson
Former senior Barclays FX salesman rejoins the market at UBS
Gaborow exits Nomura and rejoins Blum
Former Nomura colleagues team up on the buy side
Faulkner takes up role at Fluent Trade Technologies
FX market veteran takes on permanent role in London