FX Markets - 17 Dec 2018
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Articles in this issue
2018: mergers, name changes and having one’s day in court
Mergers and acquisitions were popular reads on FX Week in 2018, along with coverage of US FX-related court cases
US will not argue fiduciary duty in Bogucki case
Judge orders the issue is irrelevant and the US cannot attempt to prove its case on that theory
Thomson Reuters unit becomes Refinitiv
TR’s Financial & Risk changes name, following majority stake buyout led by Blackstone
State Street to buy BestX
TCA provider set to become wholly owned subsidiary of State Street; financials undisclosed
Boards approve CME’s £3.9bn offer for Nex
The boards of the two firms give unanimous green light to cash-stock transaction
CFTC charges TFS-Icap with fraud
US regulator claims the interdealer broker encouraged fake FX options bids, offers and trades
Flow Traders goes live to make FX splash
With 700-plus approved counterparties and significant in-house flows from its ETP business, Flow Traders prepares to realise its FX ambitions
HC Tech: it’s time to speak up
Recent industry survey shows HC Tech is biggest liquidity provider in US by market share
Johnson sentenced to two years in prison
Johnson was taken to prison immediately after the hearing, but lawyers are preparing for appeal argument
360T buys GTX
The move will expand 360T’s footprint in the liquidity provider-to-liquidity provider space and financial institutions segment
Barclays names Fabio Madar as global head of G10 FX
James Hassett moves into newly created role in emerging markets
Fred Boillereau leaves HSBC, Badhwar moves up
HSBC separates FX & commodities from global markets corporate services, with replacement for Boillereau to be announced
Dmitri Galinov leaves FastMatch
Chief executive of Euronext-owned ECN FastMatch resigns
Obituary: Paul Chappell
The industry veteran passed away on June 24, following a short illness
Obituary: Cian Burke, HSBC veteran
The head of HSBC's securities services passed away at the weekend in a tragic accident
Guganeswaran and Burrell leave Citadel
They worked together at the hedge fund and at Barclays
Obituary: FX veteran Guy Plummer passes away
Known as the ‘chart man’, Plummer worked in foreign exchange for 25 years
Fotheringhame wins Barclays employment claim
Former managing director unfairly dismissed in relation to last look, UK court finds
US DoJ changes tactics in Bogucki case
US attorneys will use bank fraud laws to pursue the former currency trader, extending the statute of limitations
FX Cartel traders found not guilty
“We all came to the conclusion that we didn’t think the prosecution had enough evidence,” a juror tells FX Week
RBC fights £13 million whistleblower claim
Ex-trader John Banerjee is suing RBC for unfair dismissal and aims to claim whistleblower status
European FX lawsuit may follow soon, says source
Institutional investors filed a lawsuit in NY against 16 banks on November 7, which could be followed by European complaint
NYDFS fines Deutsche Bank $205m for FX
Fines relate to practices between 2007 and 2013, when Deutsche was the world’s largest dealer by market share
NatWest bids for order-book management business
The UK dealer's frosted glassbox serves as segregated order execution desk for fixings and stop losses