Trading
Standards multiply as FX TCA takes hold
Increased choice in FX transaction cost analysis (TCA) is giving asset owners more tools to measure the performance of liquidity providers, custodians and trading algos. However, with more opportunities for real-time data capture driving a diversity of…
Spotlight on: Beng-Hong Lee, Deutsche Bank
Deutsche’s head of offshore renminbi in Shanghai talks to Joel Clark about his role in leading the bank’s efforts in the new currency, and where he believes the biggest opportunities and challenges lie
QE3 will be positive for GBP
A new bout of quantitative easing might be positive for sterling, but will likely lead to dollar depreciation, argues Adam Cole
Barclays begins e-IRS trading in Middle East currencies
UK bank continues to expand electronic capabilities in the Middle East
Renminbi payments continue to grow, according to Swift
Swift says the currency is now the 16th most actively used in trade settlement
Volcker rule could hurt liquidity in FX spot market, participants warn
Foreign exchange swaps and forwards should be exempted from the Dodd-Frank ban on prop trading, or else liquidity in the spot market could suffer
FXSpotStream will cut costs and inefficiencies, say banks
The liquidity providers behind FXSpotStream believe the new platform adds genuine value to the FX spot market by directly tackling the challenges that exist on traditional spot platforms
Deutsche moves to simplify RMB under PBoC scheme
Deutsche Bank today completed the first renminbi cross-border transaction under a simplified scheme designed to ease the documentation burden for corporate users
FX Week China: CNH/CNY forward divergence threat has stabilised
A reversal of the spread between offshore deliverable forwards and onshore NDFs that caused pain for speculators last year is unlikely to recur, say economists
Fleschler returns to Hotspot FX
Industry veteran moves back to ECN
FX Week China: RMB internationalisation will take time
Significant progress has been made since 2010 in opening up renminbi to international participants, but it has to be done gradually, say speakers at FX Week China
Spotlight on: James Watson, FXall
FXall’s newly appointed head of Europe, the Middle East and Africa talks to FX Week about his recent move from an equity sales role at Morgan Stanley into the FX market, and his aspirations for the platform’s European business
And so to the front office
Following the recent appearance of two alternative trading platforms, questions have been raised about how many new platforms the FX market can hold
New-look EBS will drive out disruptive players, vows Mandelzis
Speaking for the first time about his plans for EBS, chief executive Gil Mandelzis says the platform will remain open to all participants that enhance liquidity
TraFXpure open-access model aims to eliminate tech-based competition
Interdealer broker Tradition claims the new bank-backed spot platform will provide fair access for all, regardless of technology
Currency managers down in April, says Parker FX
Index of 52 programmes hit by fiscal and political uncertainty
Aussie banks join e-FX arms race
Ramping up single-dealer platforms and connectivity to multibank portals is a key priority for Australian banks, as they seek to ensure their forex business is not poached by global banks with superior technology
Spotlight on: Ron Levi, GFI Group
The interdealer broker’s chief operating officer talks to Joel Clark about the growth of GFI Group during its 25-year history, its strengths in foreign exchange, and why he expects to be among the first wave of brokers to register as a Sef under the US…
Global inconsistency remains a challenge for would-be Sefs
An ongoing lack of clarity and the potential for extraterritoriality in swap execution facility rules is creating a bumpy ride towards registration, according to three putative Sefs
Chinese yuan tracks regional sentiment, despite fixing
Spot onshore Chinese yuan (CNY) and offshore yuan (CNH) tracked regional sentiment despite USD/CNY fixing coming in at 28pip higher at 6.3233 today (May 17).
Forex markets absorb political chaos in Europe
Participants reacted relatively calmly to political developments in Europe last week, and the absence of credible alternative currencies prevented a major sell-off
TradingScreen rolls out real-time TCA for FX
New functionality includes a heat map to enable buy-side traders to benchmark their execution in real time
Eurodollar caught in range-bound tug of war
Currency strategists are divided over whether EUR/USD will break out of the 1.30-1.35 range it has traded in since late January
Micex-RTS pushes ruble growth with FX swaps initiative
Participants push the growth of the Russian ruble, but frustrations remain over the slow adoption of real-time gross settlement