Post-trade
TCA costs up to 12% of tech budgets – Greenwich
A survey of buy-side equity trading desks shows 86% use TCA, which can make up 12% of their technology budget
SmartStream hires Kilcoyne and promotes Schiebl to COO
The two men are veterans in building and managing fintech solutions
FastMatch to add cryptocurrencies to FX Tape
The venue plans to support trading of the asset class later this year
Blockchain-based tool offered by smartTrade
Clients will be able to subscribe to the new service and access it through an open API
Sigelbaum joins TR to lead FXall
Jill Sigelbaum replaces John Cooley, who left Thomson Reuters in November
Darren Coote joins Cobalt
FX veteran becomes an adviser and investor at the pre- and post-trade processing company
BNY Mellon to build franchise partnerships using FXPB
The bank’s FX prime brokerage beta clients could go live within the next month
Geller to lead FX at Capitolis
Illit Geller, co-founder of TradAir, joins Mandelzis start-up
Thomson Reuters launches MTF
The new MTF will provide FXall and Forwards Matching users with a compliant source of liquidity
SmartTrade opens Milan office as client base grows
The company has onboarded new clients in several places, including Germany, Italy, Japan, North America, South Africa and Switzerland
ForexClear prints new record, clearing more than $100bn in one day
And recently launched G10 NDF service clears over $700m in a month
LCH SwapAgent processes first cross-currency basis swap
It is the first non-cleared trade to be transacted as LCH STM, SwapAgent’s settlement-to-market legal and operational framework
FastMatch opens FX Tape to public
Data service attracts a monthly cost of €40
MarkitServ rolls out workflow automation for cross-currency swaps
Enhanced service launched in conjunction with CLS and LCH
Nex optimises post-trade OTC FX with direct clearing connectivity
By removing secondary matching, Nex optimises post-trade workflow and maximises benefits of clearing
Market participants start testing Mifid II systems
But they do not feel fully ready for the sweeping changes taking effect on January 3
BestX launches reporting module, partners NAB
The Australian bank is the latest FX dealer to sign up for the transaction cost analysis service
Cobalt chooses Solace for post-trade information processing
The move aims to guarantee incoming messages can be processed consistently, especially during bursts of heightened market activity
Earthport partners Broadridge to host FX and cash-management processing
Broadridge FXL erases many manual processes, boosting scalability
BBVA and Bancomer deploy DLT-based FX matching pilot
Launch follows successful proof-of-concept in collaboration with Calypso Technology and R3
RBC Capital Markets partners BestX for TCA
The Canadian bank is the latest FX dealer to sign up for the transaction cost analysis service
CLS announces major strategy shift
The settlement utility will diversify into processing and data to become a business with three major service areas
BNP Paribas partners BestX
The French bank is the latest FX dealer to sign up to the firm's TCA services