FastMatch
Currenex and EBS mull venue-hosted last look
Platforms consider becoming third-party operators of last look to separate the function from liquidity providers
Last look claims will happen on a case-by-case basis
Alpari’s last look claims against six banks are unlikely to be the last, lawyers say
e-FX Awards: FastMatch – Best e-FX Trading Venue
In Q1, FastMatch saw ADV grow 61% year-on-year to $17.7bn. In April, it recorded $19bn ADV – 76% higher than in the corresponding period of 2016
Challenger platforms hot on the heels of legacy peers
FastMatch's volumes doubled year-on-year, while GTX saw volumes rise 50% over the same period
FastMatch to hike rates from July
Following its $153m acquisition by Euronext, the platform has a clear path to expand into Europe and Asia
Egger joins FastMatch from Citadel Securities
He will become the platform’s head of sales for the Americas, with a particular focus on the buy side and hedge funds
Euronext buys FastMatch
European stock exchange enters FX space with purchase of ECN for initial $153 million
Spot volumes rise in March
Secondary venues see robust volumes; primary platforms also tick higher
FastMatch replaces Niv and Ahdout on its board
Their places are taken by Brian Friedman and Jimmy Hallac of Leucadia National Corporation
Non-banks to get dark pool for inventory exchange
Competition could heat up for banks, but may cue tighter prices
FX central tape to launch end of Q2, but without banks
Participants to move ahead without banks amid rising demand from end-users for transparency and cost analysis
FastMatch snatches Beacroft from Hotspot in Asia
Beacroft helped to build Hotspot's business in the region
FX platforms finish 2016 on a flat note versus the year before
Despite spikes in June and November, over-the-counter FX trading was subdued
FastMatch tweaks fees to discourage use of last look
Platform continues push to eliminate last look trading and plans to introduce a dark pool where clients can exchange inventory
Galinov: exchange clearing is close
If a solution is revealed this year, costs will fall, volumes could rise and another ECN may be gobbled up by an exchange
FastMatch to offer algos and TCA to all subscribers
It makes the decision as algo execution gathers pace and clients require more trade transparency
FastMatch hires Thomas as sales director
Firm pushes ahead with build out of its New York sales force
FastMatch partners TradAir
Trading venue will target institutional clicker traders to diversify liquidity and boost volumes
IPC to onboard FastMatch to its FX Hub
The move provides market participants on the IPC ecosystem with access to FastMatch's trading platform and other services
Market data is the new battleground in FX
Innovation in the space has been lagging for years, despite high costs, but challengers are now emerging
FastMatch to roll out market impact rule month's end
With new matching rules, the platform will be using tools that automatically select liquidity providers that create no market impact after receiving orders
Platform volumes dip in July, but grow year-on-year
ADV inch lower for institutional FX venues after a Brexit-boosted June, but there is still growth, compared with 2015
Brexit will give non-banks a spot-market boost
Adding to dealer banks' decreasing risk appetite could spell trouble
Brexit spurs caution from brokers and platforms
"Nobody in the industry wants a repeat of the SNB, whereby clients suffered heavy losses and effectively became debtors," says ADS Securities' James Watson