Settlement
More than 100 participants commit to FX Global Code
Global Foreign Exchange Committee plans to launch Global Index of Registers before June meeting
BoJ prepares to link settlement system with Hong Kong
The connection will provide a new pathway for Japanese banks to obtain Hong Kong dollars and cut the exchange-rate cost
Mitsui & Co begins settling trades through CLS
It is the first Japanese corporate to join the service via third-party access
TriReduce CLS FX expands compression service to third parties
All market participants can now take advantage of the compression benefits
CLS volumes hit record high in February
Pickup in participation from buy side contributes to growth in volumes
Antitrust attorneys prepare to depose UK traders
Despite the court extending a partial stay on depositions until June 8, lawyers have been granted access to interview some UK-based people
BIS warns of virtual currency risks
CBDCs could have an impact on global financial stability, and large demand could force central banks into risky assets, new report says
CLS to launch reporting tool for members
FX settlement utility gives members extra fields in end-of-day reports to help with reporting requirements
CLS launches FX forecasting tool
The new data product will give market participants indications of future price moves, based on CLS historical data
BNP Paribas pleads guilty to FX price-fixing
French bank regrets the misconduct and will pay $90 million to resolve investigations into its currency trading practices
HSBC to pay $101 million to settle with DoJ
UK bank enters into deferred prosecution agreement and agrees to pay criminal penalty over Cairn Energy and other FX conduct
CLS hires Danino-Lewis and Scott
The infrastructure provider gears up to broaden its range of services
CLS: politics and technology will be main drivers in 2018
Distributed ledger technologies will be used increasingly while cryptocurrencies gain ground
Gladwin exits CLS, joins consultancy
CLS relationship manager Julian Gladwin left CLS in October and has moved to Elixirr
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
Banks reportedly preparing to settle EU FX probe
Barclays, Citigroup, HSBC, JP Morgan, RBS, UBS and two other institutions set to pay out billions of euros, according to Financial Times
MarkitServ rolls out workflow automation for cross-currency swaps
Enhanced service launched in conjunction with CLS and LCH
IBM to launch blockchain-based payment solution
Initially available in the Pacific region for KlickEx clients, IBM plans to expands the network across the globe in 2018
CLS settled volumes rise 11% in September
Spot, forwards and swap volumes picked up pace compared with August and September last year
CLS announces major strategy shift
The settlement utility will diversify into processing and data to become a business with three major service areas
Employees get deposition stay in FX antitrust case
Depositions and interviews with bank staff in benchmark rigging case delayed until December 8
Nippon Life gains third-party access to CLS
The life insurer is the first non-bank financial institution to settle FX trades with CLS in Japan
BNP Paribas fined by Fed over FX manipulation
The French bank is to pay $246 million to settle an investigation into misconduct
CLS appoints nine new directors to its board
The appointments raise the number of members on the board of directors to 23