News
Retail brokers tighten margins ahead of US election
FXCM, IG Group and Saxo Bank take steps to reduce risk for their clients, while others stand ready to act
Weisberg leaves Thomson Reuters
Global head of FX leaves after four years at the firm
LCH targets non-cleared market with radical new platform
Bilateral trades would be valued and margined using LCH swap curves
Philippines central bank adopts renminbi as reserve asset
Central bank joins a cohort of countries adopting the Chinese currency as a standalone asset; governor says it is an important development for a nation so dependent on Chinese trade
ANZ appoints head of markets for Europe and America
Mahnaz Safa joins from Citi, where she headed markets origination for Emea
Edgewater Markets hires Catalanello
FX industry veteran and Credit Agricole's former head of global market sales for the Americas joins the e-FX aggregation firm
Renminbi's share of payments rises slightly in September
Swift finds 57 countries have crossed the 10% threshold for direct payments in the renminbi
Tullett Prebon Information to distribute digital currency data
Market data vending arm of Tullett Prebon signs deal with Brave New Coin to circulate 50 digital currencies, including bitcoin
Businesses see spot FX volumes fall 42% in four years
Research by East & Partners shows a decline in contributions to the FX spot market, particularly from Australian firms
TraderTools appoints new CEO
Andrew Levine joins the board and will work closely with company president Yaacov Heidingsfeld
Goodbody leaves Bats Global Markets
Head of global FX leaves the firm he joined last year, following Hotspot’s acquisition, with Bryan Harkins taking up his role
First commercial DL solution to handle 1.4bn daily transactions
Digital ledger technology will be front and centre of the post-trade battleground
Renminbi drops to six-year low
Figures from Safe show a net $44.7 billion worth of payments in the currency left China in November
Tripathi swaps UniCredit for Capula
He was an emerging markets FX options trader
JB Drax Honoré hires Lomas and Bibby
The two are former members of Barclays' London FX sales team
IMF amends calculation of special drawing rights basket
Exchange rates for SDR will be obtained from a commercial provider by the Bank of England so the method is more “robust”
Citadel Securities provides liquidity for Invast Global
Invast Global's PurePrime facility offers bespoke, optimised FX and CFD liquidity, with multiple trading GUIs
Hraska joins DTCC after eight years at Barclays
Jim Hraska becomes a managing director and general manager of the firm’s Fixed Income Clearing Corporation
TriOptima and SwapClear include first client-cleared trades
Eighteen participants in compression cycle for Canadian dollar interest rate swaps, eliminating $1.05trn in notional principal
Andrew Bailey looks to reboot FCA's ‘mission’
New chief executive seeks to clarify approach after stumbles in past years, admitting global understanding of conduct regulation is still at an early stage
Saxo ups margin requirements ahead of US election
Margin requirements for most major FX pairs will go up to 2–3%, with RUB and MXN rising to 10% and 15%, respectively
Underwood FX builds out expert offering
The firm brings in legal, futures and other OTC professionals as it expands into traded markets intelligence
Goulet says goodbye to HSBC
Claude Goulet's responsibilities may be shared among his former superiors
Taiwan Futures Exchange adds euro and yen
With the two new futures contracts, Taifex broadens FX offering to include its first two G10 pairs