Trading
FX Week USA: Speed bumps not the way forward for platforms
The use of randomisation to effectively insert a speed bump into incoming orders on platforms is dismissed by panellists at New York conference
Market conditions point to uneven global recovery, says Treasury official
Speaking at FX Week USA conference, Daleep Singh acknowledges the improvement in economic conditions in the US but calls for a more balanced global recovery
EBS Direct on-target for full launch, says Icap
Beta testing has been successful and the new disclosed liquidity pool will be fully rolled out later this year, says Michael Spencer
FX investors struggle to exit illiquid EM currencies
A rush to sell certain EM currencies in recent weeks has led to a dearth of liquidity and heightened the risk for buy-side firms
The hidden challenges of Mifid II in the FX market
The implementation of Mifid II might be several years away, but market participants face challenges in properly implementing the regulation while also realising the benefits of liquidity, transparency and flexibility, warns law firm Jones Day
UniCredit eyes growth in institutional FX without e-commerce focus
As the Italian bank looks to extend its client footprint into the institutional space, further development of its FX platform is not a central part of the strategy
Agency brokers ‘encouraged’ by CFTC response to concerns
Lobbyists are hopeful a resolution will be reached to their concerns over external business conduct rules that have forced agencies to retreat from FX derivatives
Esma under pressure to approve FX dual-reporting solution
FX market participants are pressing the regulator to support a proposed solution to the challenge of dual trade reporting without a central infrastructure to issue trade identifiers
Markets braced for dollar to rally post-FOMC
As Fed chairman Ben Bernanke is expected to confirm plans for tapering of bond purchases, FX traders say the dollar will rally in response
Citi’s Feig takes on broader e-trading role
Jeff Feig retains responsibilities as head of G-10 but will now also focus on co-ordinating and developing electronic trading across asset classes
CME forex trading booms but clearing remains slow
CME Group has boasted record FX volumes in recent months and is preparing to launch its London-based derivatives exchange in September, but take-up of its OTC FX clearing services remains slow. Derek Sammann, CME’s head of FX and rates, tells Robert…
EBS takes aim at maligned aggregation practices
Icap’s EBS is setting out new best practices on aggregation and will only connect to aggregators that adhere to them, as it seeks to further overhaul the experience of its liquidity consumers
MAS overhauls benchmarking practices
Twenty banks found to have deficient procedures in place after a year-long review of benchmark submissions
ParFX targets buy side inclusion by Q4
The platform will open its doors to non-bank market participants later this year in what will be the real test of its level-playing-field design
StanChart expands e-FX experience into credit and rates
Following a reorganisation of its electronic trading business at the start of 2013, Standard Chartered’s Chris Knight now has responsibility for e-commerce in the eastern hemisphere across three asset classes. He talks to Joel Clark about what credit and…
NAB's new trading head sets sights on EM FX
David Jones, newly promoted head of FX trading at National Australia Bank, is based in London rather than Sydney, and has a mandate to focus particularly on emerging markets
ACI to develop new spot FX standards
Industry association plans to complete project by year-end to bring greater clarity to the definition of spot FX across currencies and geographies
CLS hits new record as FX volumes spike
Almost three million payment instructions were settled by CLS on Tuesday following a surge in trading volumes towards the end of last week
Diversified portfolios exposed to correlation risk, experts warn
Politics is a greater driver of G-4 currencies than traditional economic fundamentals, say panellists at CME event
Saxo Bank launches online news service Saxo TV
Web-based TV channel aims to provide one-minute video analysis of market events
Sharp drop in yen will destabalise markets, warn traders
Observers concerned over potential impact of rapid yen depreciation. However, others say effect will be limited to currencies in Asia
Start-up 7Hedge plans to take FX spot to exchanges
New company led by market data veteran Rafah Hanna and former Gain Capital salesman Michael Siwek plans to help exchanges develop FX spot capability
Thomson Reuters launches real-time FX data for RMB
Traders get access to collective volume data for offshore and onshore renminbi for the first time
BAML reshuffles rates and currencies
US dealer hires from Goldman Sachs, JP Morgan, Morgan Stanley and Deutsche Bank as it expands global footprint