Banks
Cartel lawyers zoom in on government witness
They claim their clients are entitled to understand precisely what the government did to mitigate such risks for its witness
FX boosts UK derivatives values
Bank of England data for second quarter shows 33% rise in FX derivatives values at UK banks
Bogucki lawyers seek dismissal for third time
Defence attorneys ask court to look into instructions given to grand jury about the nature of Barclays and HP’s relationship
Fischer to head BNPP’s global markets for Asia-Pacific
Fischer had been the head of global markets for Europe, Middle East and Africa since 2015
Donadio takes CTO role at TradAir
Sebastien Donadio is the former head of software engineering at HC Technologies
Katz’s sentencing adjourned until January
Jason Katz is the first trader to admit to wrongdoing
Venue competition heats up as e-FX volumes plateau, says Greenwich
Following 74% growth in electronically executed FX in 2007-14, volumes flattened for four years
NYDFS fines Deutsche Bank $205m for FX
Fines relate to practices between 2007 and 2013, when Deutsche was the world’s largest dealer by market share
Phil Weisberg joins oneZero’s advisory board
The firm hopes to use his institutional market insight as it seeks new opportunities
Mark Johnson’s attorneys point to Isda agreement in appeal
“How are FX traders supposed [to] know what trading constitutes wire fraud when the government cannot even answer that question?” attorneys ask
DoJ asks for discovery stay in benchmark case until ‘Cartel’ case ends
US tries to balance need to protect ongoing criminal investigations and lawsuits with civil attorneys’ desire for additional testimonies
IBM and Avaloq to build Swiss cloud
Swiss Banking Cloud could be ready to on-board new clients in second half of 2018
New York Fed commits to FX Global Code
It promises to conduct its currency business in a manner consistent with the set of principles
MarketFactory launches pre-trade limit tool
Reflector monitors and balances the limits and positions across all trading venues
G10 FX revenues hit two-year highs – Coalition
The first quarter of 2018 saw a reversal of revenue contraction seen in the last two years, with profits up 20%
FX lawsuits: the roundup
The number of cases related to conduct in foreign exchange markets has multiplied. Here is our handy guide to developments so far
DoJ indicts another FX trader on price-rigging charge
US says Akshay Aiyer conspired with other New York-based traders at rival banks to fix prices in Ceemea currencies
FX Cartel loses bid to dismiss criminal case
Judge says SFO investigation was a sign the currency traders could be prosecuted somewhere
Weller joins Saxo Bank as Mena chief
Steve Weller headed the FX business at Sberbank CIB before resigning and taking a break from the industry
Bogucki hearing scheduled for May 23
Defence lawyers are set to argue that the charge is time-barred and not applicable to this case
Ficc revenues bounce off lows but still down
European banks bounce off lows in Ficc revenues in the first quarter of the 2018, but year-on-year earnings remain negative
Johnson sentenced to two years in prison
Johnson was taken to prison immediately after the hearing, but lawyers are preparing for appeal argument
FX veterans launch Global Code consultancy
Nick Downes and Julian Gladwin form Axiom Global Advisors to independently assess firms’ preparedness for adherence
More than 100 participants commit to FX Global Code
Global Foreign Exchange Committee plans to launch Global Index of Registers before June meeting