Tech and data
CLS will adhere to US sanctions on Russia
The ruble looked set to become the 18th currency to be settled through CLS, and while both the CBR and the industry utility are committed to the deadline, political uncertainties remain
ITG study finds fixing time "irrational and expensive"
ITG looked at eight currency pairs on Thomson Reuters Matching, one of the data sources for the now controversial WM/Reuters fix
Trade life-cycle monitoring migrates to FX
A new breed of monitoring and surveillance technology arrives in FX
Hungary tightens bank FX funding rules
Hungary's central bank aims to smooth out maturity mismatches between long-term foreign exchange loans and the short-term funding banks' use
Brokers at loggerheads over Sef volume data
Following the FIA's launch of a Sef volume data service, brokers warn that problems still remain at the source of the published data
Buy side steps in as banks tire of delegated reporting
Buy-side firms are offering delegated reporting for clients as banks understood to be weighing up whether to continue offering the service
Fixation on internalisation is ‘nonsense’, say banks
Banks respond to increasing industry focus on internalisation of FX trades, arguing the practice offers better execution for clients than trading on primary platforms
Caplin Systems appoints John Ashworth as chief operating officer
John Ashworth joins Caplin Systems as COO
Industry should be ready for reporting deadline, warns Esma
Despite ongoing challenges relating to European trade reporting, the industry has had 13 months to prepare and should be ready for the February 12 deadline, says European regulator
Buy side could miss Emir reporting deadline
Banks are racing to meet a February 12 deadline for trade reporting under European rules, but buy-side firms might not be ready to meet their obligations in time
Esma repository approvals fire starting gun for EU trade reporting
Mandatory trade reporting for all asset classes will begin on February 12, but the FX industry is still grappling with the challenges of dual reporting
TriOptima unveils UTI pairing service for Emir reporting
Icap-owned technology provider seeks to tackle the dual reporting challenge for paper-confirmed trades and FX trades without a common ID
Bloomberg launches US dollar benchmark
New US dollar index will represent 10 currencies, including Chinese renminbi and the Australian dollar
State Bank of Vietnam taps Thomson Reuters for FX monitoring system
Vietnam's central bank takes a step forward in increasing transparency and reporting in its foreign exchange market
Euro-denominated FX reserves rise again
After several quarters of declining central bank holdings in euro, recent data from the IMF suggests reserve managers have started to increase holdings in the currency again, albeit by a very small amount, says Thomas Stolper
Progress of RMB internationalisation ‘spectacular’, says SFC official
Speaking at the FX Week Asia conference, deputy chief executive of Hong Kong regulator highlights the importance of continuing to internationalise China's currency
FX Week Forum: Central banks and FX reserves
In the latest in the FX Week Forum series, Joel Clark talks to Steven Saywell, global head of FX strategy at BNP Paribas, about trends in central bank reserve management and the IMF's latest set of reserves data
Reserve managers seek alternatives to USD and EUR
Following the IMF’s publication of its FX reserves data for the second quarter, Steven Saywell assesses why reserve growth has slowed and central banks are looking to diversify
Lack of Esma clarity delays progress on FX trade reporting
Questions raised by Isda concerning trade reporting workflows have not yet been answered, delaying preparations for the start of mandatory trade reporting early next year
EBS and Thomson Reuters urged to rethink credit methodology
FX prime brokers say measurement of open positions on a gross rather than net basis exposes them to additional risk and reduces the effectiveness of controls such as the kill switch
FX market will be 70% electronic by year-end, says Aite Group
New research estimates 60% of FX is electronic today, rising to 70% by year-end but there will still be a place for voice trading
Commerzbank broadens e-FX package with DealHub
Commerzbank is the first publicly named bank to be using FX Distribution Hub, with FX Connect the first venue to go live on the service
Pragma to roll out FX algos in Q4
Trading technology vendor is preparing to diversify into foreign exchange with an algo execution product that it believes will add value over bank offerings
Barclays to add algo tools to Gator aggregator
Barclays will add new, less aggressive algos to Gator in the fourth quarter as it looks to make the product more accessible to real-money and corporate clients that prefer to trade with minimal market impact