Spot market
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
EBS unveils incentives to boost liquidity post-Globex move
Focus is on brokerage discounts and product expansion following replatforming
Buy-side firms eye perks of being a liquidity provider
Larger players increasingly see themselves as LPs and are asking for more in return
e-FX Awards 2023: The winners
JP Morgan and Deutsche Bank win two categories each, while UBS is best for spot
GFXC fosters global awareness of T+1 impact on FX
Many non-US firms yet to realise forex implications of the country’s shift to shorter settlement times
BNPP, NatWest turn to CobaltFX for credit limit management
The service will help the two banks rein in risks of credit overallocation on interbank platforms
Fast LPs accuse rivals of maxing out last look response times
Firms with sub-10ms checks complain of losing volumes to slower rivals, prompting one to ditch ECNs
SG1 growth slower than expected, say LPs
Despite sluggish take-up of Singapore FX matching engines, some hope a new NDF venue will offer a boost
US court greenlights most claims in Currenex class action
Civil lawsuit brought by XTX and two other financial firms advances to next stage before trial
BNPP, BofA and Nomura ditch last look add-on
Majority of top 25 LPs have now removed hold times as regulators step up scrutiny of controversial practice