Trading
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
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
Salmon exits GFXC and BoE for private-sector opportunity
Federal Reserve Bank of New York’s Simon Potter will act as interim chair with immediate effect
US presses for tougher sentence for Mark Johnson
DoJ wants profits made by Frank Cahill’s trading activity to be factored into Johnson’s sentence
Morgan Stanley hires Kristin Zekis
She will be running real-money sales from April
Kamrath resigns from Jefferies, Bechtel takes over
Ray Kamrath resigns as global head of FX at Jefferies and Brad Bechtel steps into the role
Antitrust claims deadline extended to May 16
Investors seeking to receive part of the $2bn-plus settlement have two more months to file a claim as the deadline is pushed back from March 22
Judge grants Bogucki’s case dismissal hearing
Robert Bogucki's lawyers will argue the US abused a transnational document request to extend the statute of limitations
Thomson Reuters launches bitcoin sentiment data feed
The tool appears in a new version of the firm’s MarketPsych Indices to assist trading and risk management
European banks see Ficc revenues slip in 2017
In contrast to robust trading activity in 2016, Ficc trading fell across the board
US court rules cryptocurrencies are commodities
Asserting the CFTC’s jurisdiction, the ruling clears the way for the agency to bring its fraud case
Kristin Zekis leaves FX sales role at Citi
Zekis joined the bank as a director of FX sales and trading in 2016
Johnson’s sentencing pushed back to April 2
Mark Johnson is allowed to stay in the UK with his family until March 26
Apac investment bank revenues at five-year low
Australasia was the best performing region across Apac in 2017, with Ficc and equities revenues remaining stable
Bogucki lawyers call FX case a ‘well-disguised sham’
Defence says prosecutors misused international document request to extend statute of limitations
FCA: TCA ‘unlikely’ to fall under research
Third-party transaction cost analysis fees will be difficult to include in the spread if they do not count as research costs
TP Icap reshuffles institutional ranks
Mark Allen becomes the division’s chief operating officer
Peter Little to fight proposed Fed ban at trial
Lawyers for the ex-trader, who is looking at a potentially permanent ban from markets, say he is innocent and will be vindicated
Ficc revenues tank at US banks
Revenues were dampened by low volatility throughout most of 2017, among other factors
IA calls for more last look disclosures
Investment Association says venues must take more responsibility for monitoring behaviour and LP adherence to FX Global Code