Infrastructure
CLS hires ex-New York Fed veteran to head regulation
Management changes at CLS continue with the appointment of Dino Kos, former head of FX at the New York Fed, as head of global regulatory affairs
Spotlight on: Max Smith, Newedge
In a world where market participants are seeking to reduce risk in trading and ensure efficient clearing, Newedge's global head of FX, Max Smith, believes the firm is uniquely positioned
Managing the costs of liquidity fragmentation
The increase in electronic trading venues in the FX market has created the potential for further fragmentation of liquidity. Banks say the challenge creates an opportunity for technology vendors, but what solutions are on offer? Robert Mackenzie Smith…
Options clearing pushed to 2014 as solution search begins
As the search for a viable clearing mechanism for FX options begins, market participants suggest clearing won't begin before 2014
MarkitServ partners with Misys to boost FX clearing
Users of the Misys Confirmation Matching Service will be able to use MarkitServ's clearing connectivity to route FX derivatives to clearing houses
Digital Vega to add spot to Medusa options platform
FX options platform to add spot trading functionality this week in response to client demand, assisted by State Street-owned Currenex platform
Exchanges poised for further volume growth in FX
Both exchanges and ECNs have reported an uptick in FX trading volumes in January, but some suggest exchanges might be the biggest winners as activity rises in forex futures and options
Barx FX, a decade on
Electronic trading in the FX market has evolved almost beyond recognition over the past decade, but single-dealer platforms continue to gain in popularity as banks feed increasing resources into their platforms. Miriam Siers speaks to Barx FX head Tim…
FX Concepts moves execution to MarketFactory aggregator
New York-based currency hedge fund switched from Thomson Reuters to MarketFactory last month as it seeks to rationalise and simplify the process of aggregating liquidity
TraFXpure adds Nomura and BTMU ahead of launch
Tradition's new platform now has 11 founder members and has been renamed ParFX as it moves towards 'imminent' launch
LCH approved for client clearing on ForexClear
The clearing house expects to begin client clearing for FX NDFs during the first quarter, and has now surpassed $500 billion in cleared volume for interbank NDFs
Standard Bank continues e-commerce build with Caplin Trader
The implementation of a new single-dealer platform at Standard Bank will initially cover FX and precious metals, across spot, forwards, swaps and orders
Citi prepares to go mobile with Velocity platform
The bank is testing a trading component for the mobile version of its Velocity platform, which will allow users to manage orders, and eventually execute on live rates, remotely
360T licenses GFI Fenics for options pricing on Tex platform
The Fenics ePricer engine will support options trading on 360T's Tex platform as GFI Fenics broadens out its client base to multibank platforms
CLS squares up to member onboarding challenges
Having added Swedbank and Lloyds as settlement members in the past two years, CLS has committed itself to further expanding its membership as well as its currencies
Axa IM to move FX execution to TradingScreen as it phases out FXall
Axa Investment Managers aims to be live for FX on TradingScreen TradeEMS in two months’ time, having decided it needed more sophisticated tools than it was getting from FXall
GFI Fenics repositions FX options platform as it targets Sef licence
Two years after it was launched, Fenics Trader is to be renamed GFI Direct and operated directly as a GFI subsidiary – a move intended to support its bid for Sef status
Saxo Bank launches FX prime brokerage for institutional clients
The Danish bank will launch FX Prime on January 23, having developed the service in collaboration with MarketFactory
Banks invest in future of Traiana with 12% stake
Seven banks have bought a collective 12% stake in Traiana - which has been valued at $300 million - earning them a valuable seat on the company's new board of directors
FX options clearing analysis in final stages
The GFMA's global FX division is understood to be close to completion of its analysis of five years of options trading data - a project that is intended to lead to a solution for options clearing
TraderTools preps new technology as it decouples from smartTrade
TraderTools will roll out a new platform by the end of Q1 in an effort to cut latency and ensure its independence as a forex technology vendor
JP Morgan goes to market with new cross-asset platform
JP Morgan Markets, a new platform unveiled this week, will ultimately incorporate more than 30 existing platforms into a single client offering
Mifid delays cause frustration in OTC markets
Delays from the Council of the European Union in finalising its stance on the Mifid review mean the crucial trialogue negotiations are unlikely to commence before the second quarter, much to the frustration of market participants
LMAX management team buys majority stake from Betfair
Management buyout will give LMAX Exchange the necessary flexibility to evolve into a leading FX venue within three to five years, says chief executive David Mercer