Trading
When chatter could be construed as collusion
The FX benchmark scandal is casting a dark cloud over the industry, but regulators face a difficult task in determining whether there was genuine collusion
BBH's new sales head taps into the European buy side
Having recently relocated from Hong Kong back to London, Brown Brothers Harriman's Chris Gothard is now responsible for FX sales and relationship management in Europe. He talks to Robert Mackenzie Smith
TriOptima unveils UTI pairing service for Emir reporting
Icap-owned technology provider seeks to tackle the dual reporting challenge for paper-confirmed trades and FX trades without a common ID
SGX closes in on FX futures launch
Singapore Exchange plans to launch FX futures in six currency pairs on November 11 as it looks to gain an edge on rival exchanges that have been delayed in launching the product
ACT hires UBS's Meyer to run structured products venture
ACT Currency Partner continues its expansion with the launch of an FX structured products offering, managed by a veteran of UBS
Systematic strategies will bounce back, say managers
Despite the recent bankruptcy of FX Concepts, some currency managers believe systematic investment strategies could soon make a comeback
BNP Paribas embarks on three-year hiring spree in Asia
The French bank has plans to hire 1,300 staff in the Asia-Pacific region by 2016, with the aim of bolstering revenue by at least €1 billion
FX benchmark probe gathers pace as chief dealers placed on leave
Senior spot traders at JP Morgan, Citi and Standard Chartered have all been placed on leave, while Barclays, Deutsche Bank and UBS confirm they are conducting internal reviews in connection with alleged manipulation of FX benchmarks
Aligning Deutsche with the complex needs of corporate clients
A year on from a major internal restructure to focus on electronic trading across asset classes, Deutsche Bank's corporate FX sales heads explain how their business has changed
State Bank of Vietnam taps Thomson Reuters for FX monitoring system
Vietnam's central bank takes a step forward in increasing transparency and reporting in its foreign exchange market
Buy side prepares for fixed-income storm
Artificially low volatility leaves firms nervous about the future – and looking for fixed-income alternatives
FX benchmark probes leave buy side unconcerned
Currency managers remain comfortable using FX benchmarks despite widespread investigations into the practice, with some questioning how benchmarks could be manipulated
Expiry of Sef confirmation relief causes unrest among dealers
Swap execution facilities have only until October 30 before they have to issue legal confirmations for trades, but dealers remain uneasy about their ability to do so
Standardisation needed in Sef reporting conventions
Sefs agree a lack of clarity on reporting requirements has created an inconsistent and fragmented view of trading activity
FX Concepts pays price for not adapting strategy
Bankruptcy of the currency management firm is due to its failure to react to new market realities, say competitors and insiders
BCS Prime eyes domination in USD/RUB market
Having given HFT firms direct access to the Russian ruble, the new UK subsidiary of Russian brokerage BCS is now looking to diversify its client base into the institutional market
Traders welcome latest UK-China deal on RMB
The extension of the RQFII scheme to UK investors will further grow London's position as an international hub for offshore renminbi business, say traders
FXCM aims for 50:50 split between institutional and retail FX
The forex broker's push into the institutional market has accelerated with recent deals and chief executive Drew Niv eyes further growth to achieve targets
Chaotic birth of Sefs drives NDF trading off platforms
The first two weeks of Sef trading have seen some trading volume in non-deliverable forwards migrate to single-dealer platforms and voice brokers to avoid the rules
Internalisation to blame for EBS volume decline
Low volatility in major currency pairs has created an environment in which many banks prefer to internalise trades rather than trading on anonymous platforms such as EBS
FX desks ponder brokerage fee for fix trading
Allegations regarding manipulation of FX rates have prompted some banks to consider an agency-style model
Banks push for greater adoption of two-way CSAs
The Bank of England's decision in 2012 to start using two-way collateral model fails to spur change, and traders are calling for more to adopt the model
US political gridlock puts EM currencies in stasis
EM currencies could still be badly affected by US default, say traders
Progress of RMB internationalisation ‘spectacular’, says SFC official
Speaking at the FX Week Asia conference, deputy chief executive of Hong Kong regulator highlights the importance of continuing to internationalise China's currency