Infrastructure
Trade repositories consider connectivity options
With multiple trade repositories appearing in a number of asset classes, including foreign exchange, market participants are considering how competing repositories should collaborate to avoid data inconsistency. Chiara Albanese reports
Sprint to the finish line for would-be Sefs
With the clock ticking ever closer towards the G-20’s end-of-2012 deadline for implementation of over-the-counter derivatives market reforms, and some of the critical details of those reforms still not fully fleshed out, the scene is set for an almighty…
Canada clearing paper will not address CCP location question
A consultation on OTC clearing is expected in the coming months, but a key question will not be answered
LCH’s ForexClear gets off to a solid start in NDFs
The launch of clearing of non-deliverable forwards on LCH.Clearnet's new ForexClear platform went smoothly last week, according to participants
Spotlight on: Gavin Wells, LCH.Clearnet
The chief executive of LCH.Clearnet’s newly launched ForexClear talks to Joel Clark about the development of the platform, and his plans to expand to client clearing and new currencies later this year
Transparency of public listing will boost FXall’s growth, says Weisberg
In his first series of interviews since its IPO last month, FXall chief Phil Weisberg says the public disclosure and neutrality that results from being publicly listed will improve its public standing and growth potential
Esma must replicate US Treasury’s FX exemption, says EC official
Patrick Pearson, head of the European Commission unit that drafted Emir, says FX swaps and forwards must be exempt from clearing under Esma standards
Traiana paves the way to client clearing with six top banks
Harmony CCP Connect service will enable top prime brokers to offer client clearing for NDFs later this year
Esma: Identifiers key to repository success
Consistent reporting to multiple trade repositories under new OTC regulations will depend on the successful adoption of legal identifiers
Ice throws down FX clearing gauntlet to competitors
Competition in forex clearing intensifies as LCH receives regulatory approval and Ice explains how its rival offering will differentiate itself
Forex TCA providers proliferate as buy-side demand increases
Buy-side traders are increasingly changing the way they trade and the counterparties they choose as the sophistication of execution benchmarking tools increases, say TCA providers
CCPs need to provide margin efficiency, says industry panel
Central clearing will place a huge burden on end-users, forcing CCPs to consider how best to create operational and margin efficiencies
Absa Capital unveils five ETNs based on precious metals and currencies
Absa Capital has launched five exchange-traded notes, providing investors with exposure to precious metals and currencies.
Saxo turns in 6% income growth, despite tough Q4
Annual results for 2011 reveal a 4% fall in net profit, but Saxo claims that is due to a 12% increase in staff and admin costs to support expansion
Esma under pressure to opine on asset-class specifics in Emir
A public hearing on Emir draft technical standards earlier this week leaves market participants with ongoing concerns over asset-class specifics and implementation timeframe
BNP Paribas rolls out Cortex FX single-dealer electronic platform
The French bank today unveiled its long-awaited e-commerce platform, which replaces the white-label FX eTrader offering it launched in late 2009
FSA: facing up to cross-jurisdiction conflicts
David Lawton, head of market infrastructure and policy at the UK’s Financial Services Authority, talks to Michael Watt
MarkitServ unveils middleware connectivity service for FX clearing
New middleware tool is launched today after MarkitServ won competitive tender process with the top banks and was certified by three FX clearers
The perils of one-size-fits-all
Regulators need to come up with a calibrated approach to calculating collateral requirements for uncleared derivatives, writes Joel Clark
Commerzbank revamps e-commerce platform to include FX structuring
The German bank will migrate existing clients this month from Click&Trade FX onto its rebranded Commander platform
FX Invest Europe: Investors back away from complex trades to avoid regulation
Some buy-side participants are moving away from complex FX options due to the uncertainty of forthcoming clearing and exchange trading regulations in the US and Europe, according to conference speakers
Spotlight on: Bill Goodbody, Hotspot FX
The institutional trading platform's business manager talks to Melanie White about the recent expansion of its client base into the banking sector, and plans to grow in Europe and Asia
Commerzbank taps smartTrade for liquidity management
The new technology creates a single liquidity pool at Commerzbank, with internal matching engines, external routing and execution, as well as clearing, settlement and pricing functionality
360T secures new investment
Summit Partners is to take a majority stake in the Frankfurt-based trading platform provider