Spot market
Execution algos evolve to make buy-side liquidity providers
Latest range of FX spot algos could give new roles to banks and buy side
Hidden Road ready for rush hour after FCM approval
Prime broker is trading “trillions” of notional with “a few hundred” counterparties in FX and crypto
European funds face upsurge in settlement risk after T+1
Trade body Efama finds up to 40% of daily FX flows may have to settle outside protection of CLS
JP Morgan leads US banks’ FX trading revenues
Only two dealers recorded growth last year as Goldman Sachs reports 75% drop
Why last look needs a new look
Insufficient LP disclosures leave fund managers in the dark on pre-trade costs, says BidFX’s data head
New trading platform costs weigh on FX dealers
As roughly 75 platforms vie for business, LPs complain of struggle to keep up with connectivity costs
LoopFX nears launch with Factset’s Portware partnership
New dark pool matching platform aims to integrate with existing buy-side workflows
Deutsche Bank’s global spot trading head departs
Lee Merchant is latest in a string of senior FX departures for German dealer
LMAX taps real money clients with Cürex deal
Acquisition aims to offer liquidity providers diverse flows from asset managers
Measuring expected cost models on large FX trades
BestX study assesses factors influencing algo performance on trades over $100m in size
360T awaits key trading exemption from Canadian regulator
Venue’s new UK MTF can’t include Canadian firms until approvals are granted
BoE edges closer on FX settlement risk clarity
Central bank’s FX head says new survey will help to identify where risks may lie
CME unveils upcoming FX Spot+ trading platform
New Clob aims to bridge futures and spot FX liquidity
More, not fewer, FX platforms perplexes dealers
Predictions of consolidation have been wide of the mark
Credit Suisse’s global head of FX departs
John Estrada is the latest in a string of high-profile Credit Suisse FX traders to leave the bank
Banks push back on proposal to lengthen CLS cutoff time
FX Markets USA: Move to widen window could mean significant infrastructure work for banks
Crypto ECNs aim to offer alternative to Clobs
CrossX and Cypator bring ECN-style trading and settlement to crypto, but rivals claim infrastructure isn’t ready
SGX’s new FX platform sees increased NDF trading from US firms
Sef exemption opens door to increased US buy-side interest
Looking to the futures: Transtrend’s trading head on the power of EFP
Dutch CTA firm says increased costs in OTC FX world will drive banks and buy-side to EFP
Plugging the leaks in skewed pricing
Liquidity recycling has made it trickier for LPs to identify information leakage
FXSpotstream names Ward as new CEO
Ward will assume the role from the beginning of January 2024, taking over from Tom San Pietro who has served as interim CEO
CME picks Houston to lead revamped FX unit as EBS’s Ward exits
Move follows exchange group’s plans to closely integrate EBS with its FX futures business
GFMA’s disruption template paused due to Isda definition clash
Close-out framework put on hold as Isda reviews 1998 FX derivatives rule book
Shhh, don’t tell: the struggle to keep skew under wraps
Liquidity recycling by clients has made it more difficult for banks to keep skews quiet