News
Morgan Stanley FX loss leaves ill-feeling, questions in wake
Options traders saw odd quotes by US bank months before losses were publicised
FX aggregators flirt with scrutiny over brokerage charges
Making dealers pay for trades raises ‘payment for order flow’ questions
Rival FX class claimants urge court to resolve dispute early
Judge says he won’t favour haste over quality and will consider claimants’ funding arrangements as well as the merits of competing cases
ECB and BoJ point to major problem in DLT-based payments
Project Stella report says central source of information could create single point of failure
Pollock becomes COO of Diginex in Singapore
Westpac veteran will build out the crypto firm’s office in the city-state
Asia keener to adopt mobile FX trading – BidFX
Fintech firm updates mobile app to offer more features; security concerns represent major development challenges
FMSB appoints Rich as general counsel
The lawyer has worked with BNP Paribas, Deutsche Bank and RBS
Four more banks join CLSNet
Bilateral payments netting service using distributed ledger tech now has nine firms live
Westpac: Johnson’s rhetoric over EU trade hits sterling
Cable has less upside than before the “go it alone” talk resumed after Brexit
Theta hires Meddemmen as chief technology officer
Specialist provider of buy-side trading tech as a service will launch FX capabilities at year-end
Diginex appoints Edwards as head of investment products
A former managing director at UBS Investment Bank, his financial career spans 20 years
Brainard: US must review payments system oversight
Big tech’s currency plans could weaken payments oversight – senior Fed official
State Street Tokyo hires Choi in e-FX sales
Formerly at FX SpotStream Asia, Jangwon Choi joined the firm in December
Investment Association calls for standardisation of FX reject codes
The 13 new high-level categories will allow rejection causes to be remedied quicker
Average reported daily UK FX turnover hits record high
Daily turnover of $2,881bn in October 2019, up 2% from previous high of $2,821bn in April
FX HedgePool goes live with three buy-side firms
Two US buy-siders trade with European firm on peer-to-peer utility created for them to source liquidity from each other
PBoC injects 1.2 trillion yuan as markets plunge
Chinese central bank eases to support economy as coronavirus spreads; Q1 GDP growth could drop to 4%
Cambodia’s blockchain payment network will go live in early 2020
Bakong could be linked with other Asean countries as cross-border transfers are part of project’s next phase
Spot volumes on platforms resumed downward trend in 2019
But an uptick was seen in FX swaps and forwards submitted for settlement
Former EBS e-FX specialist Myers joins social media platform
Moving from a money market sales position at CME, she becomes CCO at All of Us
Baton rounds out funding with $4m Illuminate investment
DLT firm plans Asia expansion due to demand for delivery of assets in Asian and non-CLS settled currencies
BIS calls for wider adoption of FX Global Code
Yet some industry participants question the benefits of asset managers signing up to the voluntary principles-based document
PBoC extends market closure as coronavirus spreads rapidly
Chinese central bank extends interbank markets closure and vows to maintain ample liquidity
Global head of e-FX leaves BGC's Fenics
Liam Hudson was global head of FX e-commerce at BAML earlier