Infrastructure
Perspectives on 2014: Simon Jones, Mako FX
This will be a year when banks face up to the reality of regulation, constraining their ability to innovate and provide consistent liquidity, but there is an opportunity for regional banks to gain an edge, says Simon Jones, managing partner at Mako FX
Perspectives on 2014: Roger Rutherford, ParFX
With 12 banks now trading on ParFX as members, the platform will open up to the buy side in the coming months, which will test the strength of its business model and trading rules
Perspectives on 2014: Gil Mandelzis, EBS
Last year was one of both innovation and frustration for EBS, as it continued to push new initiatives amid falling trading volume, but chief executive Gil Mandelzis is bullish for the future and believes the volume will recover
Perspectives on 2014: David Puth, CLS
Working with dealers and central counterparties on settlement of centrally cleared FX options is a ‘high priority strategic objective’ for 2014, says CLS chief executive David Puth
FX clearing a priority for 2014, vows CLS chief
Working with banks and CCPs to facilitate central clearing of OTC FX options is 'high priority strategic initiative' for CLS this year, says chief executive David Puth
EBS to consider latency floor extension within weeks
Analysis of the randomised pause applied to AUD/USD and USD/CHF is almost complete, allowing EBS to consider an extension to other currency pairs, says platform chief
Thomson Reuters ‘considering’ randomisation on Matching platform
The largest FX trading platform by volume could be the latest trading venue to apply randomised pauses, following EBS and ParFX
Dealers losing exclusive role in FX, BIS report notes
A new analysis of the 'anatomy' of the FX market notes the increasing influence of non-dealer financial institutions, following this year's triennial survey
Caplin launches hosted single-dealer platform service
Caplin Direct managed service is designed to provide an out-of-the-box platform for banks looking to distribute FX liquidity
SG CIB joins ParFX as latest bank member
The French bank has become the 12th founder member of ParFX, while Bank of America Merrill Lynch started trading last month without becoming a member
Sefs battle with confirmations after CFTC relief expires
A second no-action relief period that exempted Sefs from issuing confirmations expired on November 29, leaving FX traders unsure whether Sefs can handle the requirement
CLS raises £160 million capital from shareholders
Hefty capital raise completed last week to enable CLS to meet demanding new capital requirements and support future growth
HKEx soft launches clearing for interdealer NDFs
Hong Kong Exchanges and Clearing becomes the latest entity to launch clearing services for FX non-deliverable forwards
FX Week Europe: Low volatility blurs distinctions in e-FX
Only the return of volatility will determine which new and incumbent platforms have gained or lost market share, says SEB's Alastair Crane
FX Week Europe: Fix reform must address risk-reward imbalance
Banks should be better compensated for the risk they take when executing trades at benchmark rates, say panellists at London conference
Regulators clash on Mifid waivers
Some regulators and brokers have expressed fears that exemptions included in Mifid may mean European rules on trade execution are not equivalent to the US – but a key parliamentarian disagrees
CCPs face $161 billion liquidity shortfall to clear FX options, GFXD finds
Results of an industry study reveal the scale of the liquidity burden that would fall on CCPs clearing physically delivered FX options – but a net settlement mechanism could reduce the number by 73%
Traiana opens Singapore office
New office comes in addition to sales offices in Tokyo and Hong Kong as the vendor looks to ramp up its presence in Asia
FXSpotStream adds precious metals
Spot aggregation service adds precious metals, with prices streamed from liquidity providers through the same single connection
EBS Direct launch could reverse volume decline, say participants
The full launch of EBS Direct opens up a new market segment that could be an opportunity to claw back market share lost in recent years
ADS Securities rolls out multi-asset platform
New platform Orex Optim has now fully launched after two years of development and six months of testing at the Abu Dhabi-based firm
Sefs face major delays in operating outside the US
Despite an overseas person exemption that allows recognition of CFTC-approved swap execution facilities in the UK, Sefs could face significant delays before they can legally operate in other non-US jurisdictions
Dialogue needed on Sef confirmations - GFXD
Following a further CFTC extension for Sef confirmation requirements until November 29, the global FX division stresses the need for dialogue and co-operation with regulators over the next month if the deadline is to be met
ForexClear launches client clearing for NDFs
LCH.Clearnet has launched buy-side clearing of NDFs on its ForexClear platform, a year after it gained approval from the UK Financial Services Authority