Prime brokerage
PoP debate rekindles following Stater Global Markets exit
Prime-of-prime broker leaves space after financial backer withdraws support
Citi shockwaves prompt rush for new PBs
BNP Paribas, Deutsche Bank, HSBC, JP Morgan and NatWest said to be onboarding Citi’s former clients
Record builds synthetic FXPB offering
Specialist currency manager will use tri-party model to move securities collateral between banks
Banks and prop shops expect more trading tie-ups
NDFs and FX swaps will increasingly trade on screen, but latter product gives banks advantage over non-banks
360TGTX to unveil new NDF streaming to aid bank algos
Complementary offering set to go live next quarter
Citi culls HFTs from FXPB client list
HC Technologies, Jump Trading and Virtu Financial among those told to find new prime broker
FXPB fee jump unlikely, say dealers
HSBC and NatWest say client charges unlikely to rise significantly despite new margin costs
FXPBs over-allocating credit to algo and high-speed trading
Thinly capitalised trading firms are an accident waiting to happen while dealings on multiple venues make credit limits hard to set, claim market participants
Stater to withdraw from prime-of-prime
Launched in 2016, Stater Global Markets has focused on smaller hedge funds and retail brokers
Deutsche’s Yanagisawa set to join Goldman as Japan head of PB
Market sources say he will take on new role within next few months
BNY Mellon loses global head of FX options
Sam Osterman joined in January 2018 and ran the newly launched FX options business
Industry pushes back on Citi’s FXPB cost claims
Rivals question apex brokerage’s calls for executing brokers to make up mispricing shortfalls caused by incoming rules
Traiana boosts risk controls for FXPBs
Providers can be more specific about the risks they are willing to take
CFH Clearing promotes Groves to head of European sales
Paul Groves tapped to lead growing sales team in European push
Hinds takes e-FX sales role at BGC Partners
Anja Hinds is covering G10 and emerging market FX options
Stater Global Markets partners oneZero
The prime-of-prime broker gains access to a network of 200 market-makers and takers
Marco Baggioli joins M-DAQ Global
Former ADS Securities COO also headed FX prime brokerage at BNP Paribas
Capitolis onboards more than 20 firms to FX novation service
Platform live and novating FX options for market participants, with more instruments to follow
Gunewardena joins CFTC’s market intelligence branch
Mel joins US regulator following years on buy and sell side in fixed income and FX
BNY Mellon opens Program Trading Desk in FX business reshuffle
Bank adds segregated execution desk to boost confidentiality for clients with high-level transactions
Provenzano joins Edgewater Markets
New York-based Sal Provenzano appointed managing director of e-FX sales
OTCXN goes live with LiquiMatch FX trading venue
The hybrid FX ECN has Tier 1 banks on board
360T hires Marchese to lead North American corporate sales
John Marchese moves to the firm from Refinitiv
MarketFactory: fragmentation, credit innovation and Singapore matching
Mergers between FX trading venues have led fragmentation to spill into other asset classes