Tech and data
London retains top spot for offshore renminbi trading
The capital continues to dominate, despite the Chinese currency's overall share of payments shrinking, Swift says
IMF data shows limited adoption of renminbi as global reserve
Latest Cofer findings reveal renminbi holdings accounted for 1.07% of global FX reserves at end-2016
EBS to enforce Ultra participation criteria from mid-June
EBS BrokerTec will start calculating the 40/60 maker/taker ratios for EBS Ultra Live clients from May 15
China FX reserves inch higher in March
PBoC figures show increase of $3.96 billion, resulting in the second consecutive monthly reading above $3 trillion
Buy side to boost trading desk technology spend – Greenwich
Survey shows a larger share of budgets is being spent on technology while compensation costs shrink
Technancial and Ullink offer solution for clearing brokers
The newly launched product helps to monitor the trading activity of high-frequency trading firms using SDMA in near real-time
US traders most likely to boost algo usage and EM participation
Globally, 38% of 200 FX traders surveyed by JP Morgan plan to extend their use of algorithms
China FX reserves rebound for first time in eight months
PBoC figures show a rise of $6.9 billion in February, pushing the total above $3 trillion
Tullett Prebon Information signs partnership with Murex
The market data vending arm of TPI will distribute data sets to clients of Murex, which will use them to validate its models
Renminbi's share of global payments slides
China's currency holds sixth place globally, but its overall share continues to shrink, Swift says
SNB risks friction with US due to FX policy
Switzerland could face being labelled a currency manipulator as the Trump administration takes aim
Saxo simplifies cross-border payments with virtual IBAN
Avoiding the need for multiple accounts in various jurisdictions
EBS speeds up Live Ultra data feed to 5ms
The 5ms feed arrives with participation criteria, while 20ms is available to all EBS Live Ultra clients
TP Icap expands analytics division with Burton-Taylor buy
Interdealer broker plans to increase depth of data and expand into new sectors
Use of renminbi for payments drops in 2016
Swift blames the slowing economy, a more volatile currency and capital restrictions
Comment period prolonged for algo rule proposal
CFTC recognises "the number of questions within" its Regulation Automated Trading suggestion
China’s FX reserves fall again in December, but decline slows
Latest PBoC figures show a drop of $41 billion in December to $3.01 trillion, the sixth consecutive month of decline
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
Renminbi faces depreciation pressure in early 2017
Chinese currency continues to fall against the US dollar in the first trading days, as Beijing seeks to slow capital outflows
Broadway sees demand for software pick up
Regulation and the need for a business edge have sell-side firms looking increasingly to software to meet their needs
Algo execution and TCA will drive market structure change
Pragma Securities chief Mechner expects best execution requirements to boost the adoption of algorithmic trading
More order types will be segregated from spot desks
Stop-loss and take-profit orders could follow fixing orders and become segregated, says BNP Paribas
Analytics and algos in focus as regulation hits
Credit Suisse sees best execution requirements being hammered home by Mifid II
FastMatch to offer algos and TCA to all subscribers
It makes the decision as algo execution gathers pace and clients require more trade transparency