Foreign exchange
EBS targets regional banks with Liquidity Optimization
EBS Liquidity Optimization signs up 15 customers in one year
Sucden's e-FX volumes almost double Q3 of last year
The record volumes, attributed to new and existing clients, follows the appointment of new head of e-FX Peter Brooks
Treasury announces digital currencies consultation
The consultation will examine the risks and benefits of digital currencies, including the potential threats to the stability of the financial system
Liquidity concerns still haunt Ficc
The cost of maintaining Ficc market-making operations outweigh the benefits for banks, leading to fears that a market event could have serious consequences
FCA investigates Tullett Prebon for wash trades
Tullett Prebon is being investigated for trades with no economic purpose and one ex-employee is embroiled in it, as well as the Libor scandal
Flow FX approaches all-to-all market structure
Growing buy-side access to interdealer flows creates an equities-like market structure; banks focus on monetising agency models
EBS volumes hit record high for 2014 on October 31, topping $200bn
The company records flows of $250 billion on the last trading day of October
Moody's sees $14.5 billion FX fines for top banks
Moody's believes FX settlements could be close for major banks
Product launches, November 3, 2014
Product launches and announcements in the FX industry
Saxo wins forecast with contrarian EUR/USD call
The bank expected the dollar to start accumulating gains as the divergence between the monetary policies of the Fed and the ECB gathers pace
KCG open to Hotspot sale
The financial services firm has expressed an interest in selling FX platform Hotspot, despite a rise in year-on-year volumes
Banks set aside more than $6 billion for FX fines
Large currency dealing banks prepare to draw a line under the global regulatory probe into currency markets as they brace themselves for fines
Dollar bull run threatens corporate earnings
The days of not hedging earnings risk are over for many corporates, according to banks and treasurers, with the dollar's strength and more international trade set to be the catalyst
Surge in RMB payments between offshore centres
Share of RMB activity for international payments between offshore hubs reaches 3.25%, and usage grows for payments, FX and trade finance
Stock connect to boost CNY as portfolio inflows could double
CNY is set to be the only Asian currency to rise against the USD next year, on the back of growing overseas investment and the PBoC's reluctance to weaken the currency to boost growth
Fair and Effective Markets Review launches Ficc consultation
UK regulators publish a consultation document seeking feedback from participants on how to restore confidence in fixed income, currency and commodity markets
BNY Mellon chooses Singapore for new FX dealing room
Keon Ho Kang leads a nine-strong team focusing on G-10 currencies as BNY Mellon looks to tap increasing demand for FX in Singapore
Spot-on call on euro fall puts CIBC on top
While expecting ongoing euro weakness, the bank had already anticipated the ECB expanding its balance sheet. Therefore, it felt it unnecessary to lower its EUR/USD forecast
Non-bank market-makers step into the breach as banks turn to agency
Buy side continues to worry about the reliability of non-bank market-makers, despite their presence during a technical glitch and volatile trading times
Patten and Jones cash in on Liquidity Pool sale to Xenfin
Former Mako FX platform taken on by technology firm
Standard Chartered creates new head of RMB sales role
Zhou Cheng Gang to lead development of RMB capabilities
Investment managers ramp up leverage with NDFs
Both pension and mutual funds have become increasingly interested in the higher leverage achievable on cash-settled products compared to physically-settled derivatives
More currency floors a possibility in deflation fight - HSBC
Deflationary pressure is the key driver of potentially new currency floors in European currencies, says Bloom
GFI board to review BGC buyout offer
Board still states preference for pre-existing CME deal