Trading Systems
Perspectives on 2014: Gil Mandelzis, EBS
Last year was one of both innovation and frustration for EBS, as it continued to push new initiatives amid falling trading volume, but chief executive Gil Mandelzis is bullish for the future and believes the volume will recover
EBS to consider latency floor extension within weeks
Analysis of the randomised pause applied to AUD/USD and USD/CHF is almost complete, allowing EBS to consider an extension to other currency pairs, says platform chief
Thomson Reuters ‘considering’ randomisation on Matching platform
The largest FX trading platform by volume could be the latest trading venue to apply randomised pauses, following EBS and ParFX
Dealers losing exclusive role in FX, BIS report notes
A new analysis of the 'anatomy' of the FX market notes the increasing influence of non-dealer financial institutions, following this year's triennial survey
Caplin launches hosted single-dealer platform service
Caplin Direct managed service is designed to provide an out-of-the-box platform for banks looking to distribute FX liquidity
SG CIB joins ParFX as latest bank member
The French bank has become the 12th founder member of ParFX, while Bank of America Merrill Lynch started trading last month without becoming a member
Sefs battle with confirmations after CFTC relief expires
A second no-action relief period that exempted Sefs from issuing confirmations expired on November 29, leaving FX traders unsure whether Sefs can handle the requirement
FX Week Europe: Low volatility blurs distinctions in e-FX
Only the return of volatility will determine which new and incumbent platforms have gained or lost market share, says SEB's Alastair Crane
FX Week Europe: Fix reform must address risk-reward imbalance
Banks should be better compensated for the risk they take when executing trades at benchmark rates, say panellists at London conference
Regulators clash on Mifid waivers
Some regulators and brokers have expressed fears that exemptions included in Mifid may mean European rules on trade execution are not equivalent to the US – but a key parliamentarian disagrees
FXSpotStream adds precious metals
Spot aggregation service adds precious metals, with prices streamed from liquidity providers through the same single connection
EBS Direct launch could reverse volume decline, say participants
The full launch of EBS Direct opens up a new market segment that could be an opportunity to claw back market share lost in recent years
ADS Securities rolls out multi-asset platform
New platform Orex Optim has now fully launched after two years of development and six months of testing at the Abu Dhabi-based firm
FX platforms divided on management of costs and speed
Officials at EBS, LMAX Exchange and State Street Global Exchange debate key issues facing new and incumbent platforms during a live webinar
Internalisation to blame for EBS volume decline
Low volatility in major currency pairs has created an environment in which many banks prefer to internalise trades rather than trading on anonymous platforms such as EBS
Banks eye new protocol to streamline platform connectivity
A working group backed by seven banks is looking to create an automated protocol to streamline the process by which clients connect to FX trading platforms
Portware to launch automated FX hedging tools
Trading software vendor launches new FX capabilities as it expands into increasingly electronic marketplace
CFTC shutdown leaves Sefs lacking clarity
Sefs and their clients question scope of no-action letters, but US government shutdown means no-one is able to provide guidance
UBS aims for full FX launch on Neo in Q1
Following the recent launch of the UBS Neo cross-asset platform, FX e-trading head Chris Purves talks to Miriam Siers about the bank’s electronic strategy, both on its own platform and other venues
Citi to donate a dollar per million of platform volume to charity
E for Education initiative will see a proportion of revenue from Velocity in the fourth quarter handed over to six charities globally
CFTC relief welcomed but concerns remain as Sef rules begin
A string of no-action relief letters issued ahead of today's deadline have been welcomed, but some participants believe they still don't go far enough
Sefs struggle with CFTC reporting rules
A lack of clarity over reporting obligations has left would-be Sefs struggling to adapt processes and workflows
Sefs questioned on plans for erroneous trades
Swap execution facilities have been rushing to meet an October 2 deadline for registration, but more thought is needed on how platforms will deal with trade failures, say conference participants
Mako FX hires Simon Jones to drive platform growth
Citi's former e-FX trading chief has joined spot platform Mako FX as managing partner, with a mandate to focus on innovation and volume growth