Foreign exchange
IG under fire from clients with huge negative balances
Customers log complaint with Financial Conduct Authority and hire legal counsel in EUR/CHF case
Renminbi hits two-month high in wake of dovish Fed
Renminbi reaches highest level against US dollar in two months as Fed cuts projected rate path; volatility suggests market discomfort with Fed normalisation, says analyst
Thomson Reuters sees ADV drop in February
Overall volumes fell by 11% from January to February
Citi chases $25 million in Swiss franc lawsuit
US bank files lawsuit against prime brokerage client over events stemming from the Swiss franc's surge in value
Saxo Bank doubles profits in 2014
Benefitting from a strong pick-up in trading volumes in the second half of 2014, the Danish bank says it can swallow a maximum loss of DKK 700 million following the Swiss franc debacle
Credit Agricole deploys DealHub post-trade platform
French bank automates post-trade processes with DealHub
FXSpotStream adds Credit Suisse as liquidity provider
This raises the number of liquidity providers on the platform to 10
Gradual rollout for China's payment system
The country’s cross-border interbank payment system (Cips) will further contribute to the internationalisation of the renminbi
INTL FCStone picks TradAir as e-FX provider
The two firms partner to build a bespoke electronic solution
Banks could face fines of $4bn from US DoJ
The fines being hammered out would nearly double the total already paid to regulators during the currency probe
LMAX Exchange bucks trend with PoP launch
Prime-of-prime offering is differentiated by proprietary pre-trade risk management tools, says LMAX Exchange
UBS pays $135 million in FX benchmark case
The Swiss bank is the latest to settle civil litigation in the US over the manipulation of FX benchmarks
Saxo wins with EUR/USD call
The Danish bank correctly anticipates the scope of EUR/USD losses in anticipation of the ECB's quantitative easing
Banks lower EUR/USD forecasts after pair touch 12-year low
ECB's QE and negative rates fuel capital outflows, which will weigh on the single currency in the foreseeable future
Top banks' market share dips as clients pick e-trading
The five largest banks still control just over half of the $5.3 trillion global flows, but dominance wanes
DoJ and anti-trust lawyers compromise over FX lawsuit
The US regulator restricts the finer details of its evidence against banks, but allows counsel to continue its civil case
RJ O’Brien snaps up The Kyte Group
The wholesale broker strengthens its European business as GFI Group offloads one of its subsidiaries following sale to BGC
FX fees boost Moscow Exchange full-year results
The exchange's bottom line is bolstered by FX revenues
CLS on track with Hungarian forint adoption
Currency will be added to settled units in November
FXCM discloses data for global market failure event
Retail broker blasts SNB and liquidity providers, highlighting lack of circuit breakers
Deutsche Bank expects EUR/USD parity by end 2015
ECB's QE and negative rates fuel capital outflows, which will weigh on the single currency in the foreseeable future
Prime brokers raise capital requirements
Minimum requirements for balance-sheet size upped to as much as $50 million
Barclays wins with positive view on US economy
Declining oil prices should boost US domestic consumption and in turn lead to further dollar gains
FX fines could exceed $7.5 billion
Fines from regulators, as well as civil litigation in the US and events since January 15, are taking their toll on the FX industry