FX Markets - 23 Dec 2019
Articles in this issue
Top 10 stories of 2019: a retrospective
FXPB pricing disputes, debate over last look and court cases were keenly followed stories
Citi culls HFTs from FXPB client list
HC Technologies, Jump Trading and Virtu Financial among those told to find new prime broker
Six big FX market-makers call for end to last look
Citadel Securities, Jump and Virtu among those repudiating controversial practice
Goldman Sachs goes live with smart NDF algo
Initial trades have already taken place with the algo, which draws on internal and external liquidity
BNY Mellon opens Program Trading Desk in FX business reshuffle
Bank adds segregated execution desk to boost confidentiality for clients with high-level transactions
Nomura slashes FX headcount in $1 billion cost-cutting drive
Impact of job losses falls mainly on the emerging markets FX team
Citadel Securities: algo trading to rise, buy side seeks broader liquidity provision
As TCA metrics highlight the benefits of non-bank liquidity provision, Citadel Securities expects more participants will be drawn to its offering
Esma investigates whether middleware providers are venues
Aggregated FX liquidity offerings accused of masquerading as multilateral trading facilities
CME prepares to cut several Nex executives
Senior managers including Tim Cartledge and Jim Iorio said to be exiting
Court considers ‘Wild West’ practices in HSBC frontrunning case
Seeking to overturn Mark Johnson’s conviction, his attorneys argue he violated no laws or industry norms when trading on behalf of Cairn
Former JP Morgan FX trader faces trial for price fixing
New York resident Akshay Aiyer is accused of conspiring to manipulate prices in CEEMEA currencies