Trading
NDF liquidity in doubt as clearing approaches
Central clearing has been a long time coming for the non-deliverable forwards market and participants worry its eventual arrival may damage liquidity. By Robert Mackenzie Smith
Non-bank market-makers to increase role in FX
Non-bank market-makers to gain ground against banks in the increasingly commoditised business of market-making in FX
StanChart looks to cut reliance on human traders
Changes come amid wider refocus of FX operations, including moving some FX derivatives to London and Singapore
State Street centralises Currenex liquidity access
Firm aligns trading and clearing processes across asset classes
The squeeze on spot FX
Market-makers battle compressed margins in spot currency trading
Suspended traders prepare to fight back
Traders prepare to defend actions that have led to suspension of dozens in connection with the global FX probe
Three-quarters of RMB participants feel depreciation pain
RMB volatility rises as PBOC forces currency down against USD
European Court of Justice knocks back UK Treasury’s FTT challenge
Treasury must wait until FTT is properly fleshed out before challenging again
Best execution driving demand for pre-allocation aggregation, says Traiana
Settlement and reporting of block trade made easier under new service
Buy side needs to attach costs for execution
Investigation into currency benchmarks is the result of asset managers outsourcing execution to banks at no cost
FX probe fails to spark algo execution surge
Contrary to reports of a broad-based switch into algorithmic execution around the WM/Reuters benchmark, market participants say client demand has not surged significantly
Kantox forms European FX advisory board
Peer-to-peer platform attempting to stay ahead of FX market changes
Lack of FX volatility helps banks with staff shortages
A significant market event is likely to stretch fewer FX traders at banks, which could lead to advantages for those not embroiled in the FX investigation, say market participants
ACI asks FCA to conduct probe into UK data leaks
FCA and currency industry trade body to look into possible data leaks around major economic data releases
RBI pushes independent benchmark body
Indian central bank recommends administrative body for FX rate governance
Banks create specialist teams in surveillance "over-reaction"
Banks have tightened their electronic surveillance measures for chatrooms, in a move traders say is creating fear and uncertainty
WMBA says EC's FX spot consultation misses the point
Trade body hits out at European Commission’s consultation on FX spot definition
EU set to exempt FX swaps and forwards from initial margin requirements
Consultation document removes initial margin requirements on €6.9 trillion of uncleared FX swaps and forwards
Thomson Reuters Matching suffers outage; trading unaffected
Customers were unable to test their connections to one of the main currency trading platforms due to a technical glitch
Currency managers do make money, says Levanoni
More than half of FX managers still making returns in tough environment
EBS launches eFix Matching
The electronic broker has joined forces with Icap's voice broking team to launch an electronic fixing service
Panel clashes on best execution and NDF clearing in Boston
A panel at the annual FX Invest conference in Boston tackled the difficulties of NDF clearing and best execution costs
FX benchmark manipulated more than 25% of the time, plaintiffs say
Plaintiff's council is alleging manipulation occurred in six currency pairs on the last trading day of each month