Trading
Pound crashes 8% during early morning trading
Sterling plunged from $1.26 to $1.14 within two minutes, just after 7pm in New York
Citi warns of all-time cable low
Following a move of nearly 10% in GBP/USD, technical analysts say a test of an all-time low cannot be written off
Modifications sought in Johnson's release
Attorneys still working to get Mark Johnson's wife as a signatory on the $1m bond agreed for his release in July
OCC suspends Johnson from markets
He pleaded not guilty to alleged felony charges in August, but OCC says the charges involve dishonesty and breach of trust
China’s FX reform hit treasurers the most – JP Morgan survey
Senior financial executives from more than 100 global and regional corporates responded at Asia-Pacific Treasurers Forum
Renminbi's global share of payments slides
China's currency holds fifth place globally, but overall share shrinks again, Swift says
Failure to own and timely settle intercompany transactions leaves firms open to FX and tax risks
Failure to own and timely settle intercompany transactions leaves firms open to FX and tax risks
FCA proposes standardised transaction cost measurement
It proposes placing a duty on asset managers to disclose aggregate transaction costs to investing pension schemes
Automated payment systems in high demand for UK businesses
Afex survey shows 44% of UK companies expect to increase global payments
ADS Securities to pull back from London, Watson resigns
ADS Securities London will become regional base, redundancies on the cards
Ex-Citi Soliman launches new PoP venture
Backed by New Zealand-based Stater Holdings, the firm is targeting sub-$50m hedge funds and retail brokers
Rabobank: Trump expectations will favour safe-haven currencies
Rabobank says the likelihood of a Republican victory could spark a flight to safety and a broad correction in many risk assets
FastMatch partners TradAir
Trading venue will target institutional clicker traders to diversify liquidity and boost volumes
Australian authorities ban Deutsche FX trader for life
Andrew Donaldson tried to hide losses with false entries and inflated the bank's revenues by 28 million euros
EU non-cleared margin regime set to take effect in January 2017
EC expected to publish its final non-cleared margin rules on October 4
Banks warn prime brokerage clients of ‘material’ MVA costs
Some buy-siders are reassessing relationships as a result
EBS launches Live Ultra data feed
Participation criteria set at $200 million of price maker orders as minimum and requires participants to act as makers at least 40% of the time
INTL FCStone subsidiary upgrades payments platform
Global payments division launches Fix protocol for cross-border payments in exotic currencies
BIS: EM central banks up FX intervention to preserve stability
Maintaining financial stability shown to be increasingly important for EM central banks operating in FX markets
LMAX pushes into North America with new matching engine
New liquidity pool based in NY4 is aimed at funds, asset managers, brokers and banks
Priips set to shake up FX transaction cost analysis
European regulators poised to place new burdens on asset managers regarding FX
Perseus to speed up Chicago-Tokyo route
Connectivity firm to deliver round-trip latency below 120 milliseconds, which it says will be the fastest in the world, when improvements are completed in February
BoJ policy shift will do little to stimulate the economy
The Bank of Japan is running out of solutions for its stagnant economy
Corporates expect long-term negative impact of Brexit
45% of corporates domiciled in continental Europe believe Brexit will have a negative impact; with almost 30% of their UK counterparts sharing the sentiment, says a survey by Greenwich Associates