News
Renminbi's global share of payments slides
China's currency holds fifth place globally, but overall share shrinks again, Swift says
Schirm swaps Commerzbank for Barracuda
He leaves the German bank for the Ireland-based management software provider
Failure to own and timely settle intercompany transactions leaves firms open to FX and tax risks
Failure to own and timely settle intercompany transactions leaves firms open to FX and tax risks
FCA proposes standardised transaction cost measurement
It proposes placing a duty on asset managers to disclose aggregate transaction costs to investing pension schemes
Burt and Jerrom join BGC Partners from RJ O'Brien
They take on new roles after working as brokers for three months in listed FX futures at RJ O'Brien
Lack of regulatory clarity on key issues hampers preparation
Despite booming business, technology vendors find clients struggle to say what they need to comply with coming rules
Berntsen replaces Rojas as Americas CEO at StanChart
As Rojas moves on, Berntsen will also head up corporate and institutional banking for the Americas
Automated payment systems in high demand for UK businesses
Afex survey shows 44% of UK companies expect to increase global payments
Dahlström, SEB's global head of FX spot exits
Markus Dahlström leaves the Swedish bank after 15 years, two of which he spent at the helm of spot trading
ADS Securities to pull back from London, Watson resigns
ADS Securities London will become regional base, redundancies on the cards
FastMatch hires Thomas as sales director
Firm pushes ahead with build out of its New York sales force
Ex-Citi Soliman launches new PoP venture
Backed by New Zealand-based Stater Holdings, the firm is targeting sub-$50m hedge funds and retail brokers
FastMatch partners TradAir
Trading venue will target institutional clicker traders to diversify liquidity and boost volumes
Australian authorities ban Deutsche FX trader for life
Andrew Donaldson tried to hide losses with false entries and inflated the bank's revenues by 28 million euros
Rivelli leaves Brevan Howard
Chris Rivelli leaves the firm after only a year
IPC to onboard FastMatch to its FX Hub
The move provides market participants on the IPC ecosystem with access to FastMatch's trading platform and other services
Morgan Stanley grabs Abiola for FX sales role
Aki Abiola joins from Bank of America Merrill Lynch
Yaroyov heads up e-markets distribution at Sberbank CIB
Vladimir Yaroyov joins from Moscow Exchange, where he was head of FX
Kite launches blockchain jobs website
Consulting group goes live with Blocktribe, a specialist recruitment site
GTX to launch London and Tokyo matching engines
London engine goes live on October 15, with TY3 to follow within 90 days. GTX partners Nightberg for research
CBOE buys Bats for $3.2bn
The firm is expected to incorporate the functionality of both platforms and migrate its trading to Bats' proprietary system
EU non-cleared margin regime set to take effect in January 2017
EC expected to publish its final non-cleared margin rules on October 4
Banks warn prime brokerage clients of ‘material’ MVA costs
Some buy-siders are reassessing relationships as a result
EBS launches Live Ultra data feed
Participation criteria set at $200 million of price maker orders as minimum and requires participants to act as makers at least 40% of the time