Trading
FX volumes rebound in London and New York
Semi-annual surveys of seven major central banks show FX activity in the US and UK rising by 7%
FastMatch launches two new order types
The venue also makes changes to its system to improve market data rates
Taifex adds sterling and Aussie futures
The GBP/USD contracts will trade in sizes of 20,000 and the AUD/USD futures in clips of 25,000
Goldman Sachs discloses max last look hold times in FX
Past behaviour may subject clients to a 200 millisecond hold period, as US bank tries to avoid losses
RJ O’Brien closes FX business, effective immediately
The firm no longer finds the space strategically attractive
BNY Mellon to build franchise partnerships using FXPB
The bank’s FX prime brokerage beta clients could go live within the next month
Best execution tops list of daily challenges – JP Morgan survey
The bank questioned more than 400 institutional investors about e-trading trends for 2018 in fixed-income and commodities markets
FCA approves New Change FX for benchmarks
NCFX becomes first benchmark administrator for live FX spot markets under EU regulation 2016/1011
China reportedly tweaks yuan fix
Markets reacted by selling the yuan, which fell 0.5% against the US dollar to 6.5291 from 6.4968 on Tuesday – its biggest drop in two months
Clarifying the murky language of liquidity
Campbell Adams, founder of the Pure initiative that now operates as ParFX, has a grudge against misnomers
Australian corporates pessimistic on Aussie
A survey by East & Partners shows Australian corporates preparing for their country's currency to weaken
GFXC to push for more LP disclosures
Following the publication of the final version of Principle 17, the committee will establish three new working groups
BNY Mellon zeroes in on FX
Newly hired James Taylor discusses the business transformation taking place in foreign exchange at the bank
Esma proposes crackdown on CFDs and binary options
Esma considers ban on binary options and tighter leverage limit rules for contracts for difference
Goldman Sachs: analytics pushes SDPs to fore
As clients ask more detailed questions about execution, deepening key relationships is high on the agenda
State Street: voice trading to stay for Apac clients
Official institutions such as sovereign funds still tend to opt for voice execution due to security and confidentiality concerns
Citadel Securities: understanding LP performance set to drive behaviour
As execution quality is better understood, clients will look to deepen relationships with good liquidity providers
XTX: transparency, clearing and relationships will dominate
In 2017, clients rediscovered the value of relationships, but priorities are likely to change in 2018
BestX: FX Code may bifurcate liquidity in 2018
This could lead to venues having to manage multiple liquidity streams
Shift towards futures inevitable, says Greenwich
To address the cost pressures associated with regulation, both buy- and sell-side participants have started analysing the impact of adopting futures in their trading habits