News
HSBC finds ‘non-existent’ ECU data
The bank must hand over trade data for three 2006 stop-loss orders to ECU Group by January 19 – four weeks earlier than planned
Nudel joins Societe Generale in FX sales
French bank is understood to be building out its FX sales team
Gladwin exits CLS, joins consultancy
CLS relationship manager Julian Gladwin left CLS in October and has moved to Elixirr
BNY Mellon to become a systematic internaliser
The bank will become an SI under Mifid II, taking on post-trade reporting obligations for clients
Pragma calls for flash crash definition
Technology provider Pragma says systematically tracking flash crashes according to a set of criteria could help regulators
LBC selects Bloomberg’s FXGO for treasury
Philippine logistic company eyes further expansion and looks for seamless trade execution
Berner joins LBBW in sales
Steffen Berner was formerly Emea head of FX sales at ED&F Man
SmartTrade opens Milan office as client base grows
The company has onboarded new clients in several places, including Germany, Italy, Japan, North America, South Africa and Switzerland
ForexClear prints new record, clearing more than $100bn in one day
And recently launched G10 NDF service clears over $700m in a month
CIB revenues set to drop slightly in Asia – Coalition
Survey finds corporate and investment banking revenues are expected to be 4% lower in 2017 than the year before
Otting becomes comptroller of the currency
Joseph Otting takes over from Keith Noreika, who has served as acting comptroller since Thomas Curry stepped down
CFTC approves CME and Cboe bitcoin futures
But warns investors it has limited statutory authority over the underlying cash markets and exchanges for bitcoin, which are largely unregulated
LCH SwapAgent processes first cross-currency basis swap
It is the first non-cleared trade to be transacted as LCH STM, SwapAgent’s settlement-to-market legal and operational framework
Renminbi's share of payments drops 19% in October
Chinese currency slips behind Swiss franc and Canadian dollar as seventh most-used currency for global payments – Swift
R5FX launches renminbi connection with Shanghai Clearing
Connect will enable Shanghai banks to trade spot FX offshore via R5FX
Buy side should create central tape, panellists say
Internalisation and analytics were the focus of discussion for an occasionally tense panel
Regulations often neglect FXPB, panellists say
Post-crisis regulatory efforts tend to focus on core market-making, leaving credit intermediators in a confusing limbo
Cost of credit no longer about the end-client, panellists say
Instead, it reflects the cost of major participants taking risk amongst themselves due to margin rules
DuCharme joins Mesirow
The Russell Investments veteran joins as director of currency solutions
Fluent partners Moex for FX integration and testing
Low-latency provider will streamline secure access to Moex UAT integration and testing environment
Binny replaces Crownover as SSGA FX head
Collin Crownover has been appointed global head of Ficc multi-sector solutions, leading a newly created team
Citi raises $6.25 million through 'E for Education' campaign
The bank’s FX and local markets business raises more than $22.5m since the campaign's launch in 2013
Lucera hires Van Zegveld to lead European growth
Frank Van Zegveld was previously head of sales and business development at Solid Trading
TCA isn't a box-ticking exercise, panellists say
Mifid II has brought workflow and analytics to the forefront, delegates hear at FX Week Europe