News
trueEX to shut; deal done with crypto venue
Would-be disruptor will exit swaps business on July 19
PBoC gets go-ahead from China’s cabinet to develop CBDC
China’s central bank is developing its own CBDC
Mexican peso falls on finance minister resignation
Crisis complicates inflation outlook and fuels fear of political interference in independent institutions
PBoC sounds alarm over Facebook’s Libra
Central banks must keep control of Facebook currency, senior officials say
PoP debate rekindles following Stater Global Markets exit
Prime-of-prime broker leaves space after financial backer withdraws support
Millward joins Galinov’s new startup, 24 Exchange
Former Cboe FX product strategy head joins Bermuda-based derivatives exchange
UBS exec: first trades via USC could take place this year
Risk Live: utility settlement coin project backed by group of banks moving “incredibly fast”
Hibor may drop, but rates volatility will stay
Open interest of Hibor futures on HKEX on rise as market reacts to HKD rates’ higher volatility
Citi shockwaves prompt rush for new PBs
BNP Paribas, Deutsche Bank, HSBC, JP Morgan and NatWest said to be onboarding Citi’s former clients
Record builds synthetic FXPB offering
Specialist currency manager will use tri-party model to move securities collateral between banks
Banks and prop shops expect more trading tie-ups
NDFs and FX swaps will increasingly trade on screen, but latter product gives banks advantage over non-banks
Westpac hires O’Flaherty as head of digital solutions
Ian O’Flaherty was global head of FX e-sales at Deutsche Bank earlier in his career
CBDC could work as contingency payment solution – Norges Bank
Research continues, although central bank finds CBDCs unnecessary to ensure public access to secure means of payment
BoE markets boss: diversity in FX is an imperative
As the landscape of FX changes, so too should the people who work in it, says Andrew Hauser
Lawmakers try to halt Facebook’s Libra over privacy and security fears
Swiss-based financial system potentially storing trillions of dollars could be target for hackers
IMF: some central banks ‘on verge’ of piloting CBDCs
Survey highlights need for greater co-operation on fintech regulation
BIS says theory behind EME policy must catch up with ‘reality’
Situation similar to adoption of inflation targeting in early 1990s, says BIS annual report
Gölitz joins SocGen Securities Services
Klaus Gölitz moves from FX sales and trading role at State Street
Dealers issue rallying cry for cross-currency benchmark reform
Global banks need to drive new standards for multi-rate swaps, say leading industry execs at Risk Live
Chandiramani joins TradAir Singapore in sales
Previously, Haresh worked in cross-asset e-trading and e-commerce sales at Bloomberg
Swift bullish on future of cross-border payments
Tests of GPI system enhance speed and transparency
HKMA, PBoC extend CNY access to HK Stock Connect investors
Settling in onshore yuan gives northbound investors access to larger pool of renminbi; liquidity higher and exchange rates less volatile
360TGTX to unveil new NDF streaming to aid bank algos
Complementary offering set to go live next quarter
Salimi joins fintech firm Addepar from Citadel Securities
Rashelle Salimi was head of Americas e-FX sales earlier in her career