Trading
Ficc revenues bounce off lows but still down
European banks bounce off lows in Ficc revenues in the first quarter of the 2018, but year-on-year earnings remain negative
Colt partners NPL on timestamping
Mifid II requires that reportable events are traceable to coordinated universal time
Kamrath joins crypto-tech company Rubicon
Ray Kamrath was previously the global head of FX at Jefferies
Former Wells Fargo FX trading head sues for wrongful termination
Simon Fowles claims he was fired days before he intended to alert regulators of a payment-incentive plan that fostered greed
Irons joins State Street as head of sales for global exchange
Richard Irons brings more than 30 years’ experience in financial services and technology
FX veterans launch Global Code consultancy
Nick Downes and Julian Gladwin form Axiom Global Advisors to independently assess firms’ preparedness for adherence
CLS volumes dip in March, but it’s a record Q1
The settlement utility records average daily volumes of $1.87 trillion for Q1 2018
Pragma commits to FX Global Code
The vendor says it wholeheartedly supports the aims of the 55 principles
Cboe Sef adds more currency pairs
The platform offers NDF trading in USD/RUB and USD/PEN
More than 100 participants commit to FX Global Code
Global Foreign Exchange Committee plans to launch Global Index of Registers before June meeting
Exegy launches FX market data and order-entry solution
Trade Port FX allows market participants to organise FX market access through a single vendor
Johnson's attorneys seek home confinement
US digs in heels over prison term; family and friends say former trader’s punishment began at his arrest
FX volumes dip in March
But trading activity on most platforms remains strong year on year
Fortex Technologies hires Hendrix
Victor Hendrix will create and lead its newest division, XCloud, a global server grid providing trading infrastructure as a service
Gain Capital expands cryptocurrency offering
Customers can trade the digital coin against the euro, pound and Australian dollar
ADS Securities adds more cryptocurrencies to Orex platform
The firm reduces spreads on bitcoin and ethereum to lower clients’ trading costs
US seeks seven-year minimum prison term for Mark Johnson
Defence disputes whether Cairn Energy suffered a loss as a result of Johnson’s misconduct
Stater Global Markets broadens trading venue choice
Clients can now access liquidity from Cboe and FastMatch
Mitsui & Co begins settling trades through CLS
It is the first Japanese corporate to join the service via third-party access
Philippines bankers partner Bloomberg on FX initiatives
Bloomberg has been selected as the calculation agent for USD/PHP and bankers will use FXGO for spot trading
US DoJ changes tactics in Bogucki case
US attorneys will use bank fraud laws to pursue the former currency trader, extending the statute of limitations
Boards approve CME’s £3.9bn offer for Nex
The boards of the two firms give unanimous green light to cash-stock transaction
Lawyers in cartel case argue against antitrust accusations
Depending on the type of relationship, the Sherman Act may or may not apply
JP Morgan dominates G10 FX revenues for 2017 – survey
Coalition’s investment banking survey shows the US dealer garnering the highest revenues in the space; HSBC jumps to second place