Banks
ECB’s Mersch attacks Facebook’s ‘cartel-like’ libra structure
Senior ECB official accuses currency project of “treacherous promises”
US regulators applying outdated laws to crypto, hearing told
Congress also urged to open up Fed payment system if it wants to reach the unbanked
UBS: last look is sticking around, but conversation evolving
Bank says transparent and open discussion can produce “mutual benefits going both ways”
Identity crisis for Facebook’s Libra under lawmakers’ grilling
Washington wrestles with ‘regulating the heck’ out of Libra without stifling innovation
Record builds synthetic FXPB offering
Specialist currency manager will use tri-party model to move securities collateral between banks
360TGTX to unveil new NDF streaming to aid bank algos
Complementary offering set to go live next quarter
CBDC effect on lending depends on competition
CBDC could increase bank lending if banks have some market power, they say
Gillespie joins Spotex in sales role
Based in London, Kevin Gillespie will target institutional and broker clients, besides banks
Swiss regulator hunts for hints in Credit Suisse FX probe
Five banks fined, two acquitted as Comco closes market-rigging probes
Court considers ‘Wild West’ practices in HSBC frontrunning case
Seeking to overturn Mark Johnson’s conviction, his attorneys argue he violated no laws or industry norms when trading on behalf of Cairn
FX surveillance gets personal in hunt for market abuse
Algorithms underpinning today’s platforms are learning traders’ habits – even their voice won’t escape detection
Curex to launch new market impact tool in June
Aims to give clients a deeper look at the impact of their trading
HSBC looks to AI to unearth data patterns around commercial activity
As DLT initiative brings forth more data, the bank is looking to improve services for corporate clients
Citi revamps algos to improve sweep impact predictions
Bank works to make some aggressive strategies more intelligent when handling liquidity and filling orders
TraderTools to allow banks to white-label forwards and swaps
Firm gears up to give regional banks an algo suite in coming weeks to help market-making abilities
Electronic trading differentiates dealers competing for market share
Technology and business scope keep JP Morgan and Citi at the top, but selectivity has some dealers gaining momentum
Mosaic to bring real-time performance analytics to FX
Platform will be in production with a major client in third quarter
HSBC brings in fintechs to strengthen its FX muscle
Bank quietly enlists fintechs to work within its fold, both to expand its capabilities and to let it focus on “superstar” technology in-house
Nomura slashes FX headcount in $1 billion cost-cutting drive
Impact of job losses falls mainly on the emerging markets FX team
TraderTools to roll out algo suite for regional banks
Regional banks on the platform will be able to behave like HFTs in their local currencies
Singapore’s banks eye internal models for FX desks
New market risk regime dangles capital savings for own-models approach
PBoC chief pledges to keep opening up China’s financial sector
China will also continue market-based reforms of yuan exchange rates
Carolyn Rogers to be next Basel Committee secretary-general
Canadian regulator will take over from William Coen
Where prosecutors stumbled in Bogucki and Cartel cases
Courtroom losses suggest failure to read the FX industry correctly before jumping into action