Europe
European Commission backs FX forwards margin exemption
Need for change is “undisputed”, official says, but short-term relief expected to come via forbearance
Banks reportedly preparing to settle EU FX probe
Barclays, Citigroup, HSBC, JP Morgan, RBS, UBS and two other institutions set to pay out billions of euros, according to Financial Times
Nielsen, Wandhöfer and Weisberg join B2C2 advisory board
Founded in 2015 and headquartered in London, B2C2 is a privately held crypto-currency liquidity provider
Hamilton joins BNPP as Emea e-FX sales head
London-based Nick Hamilton started his new role three weeks ago and reports to Joe Nash, BNPP's global head of e-FX sales
Cboe FX boosts market share in October
Volumes up, driven by activity in European and Asian trading sessions
Matherne joins BNY Mellon as global head of FX forwards
Paul Matherne is the latest staffer to make the switch from Deutsche Bank to BNY Mellon
Robson joins Goldman Sachs in sales
He was formerly a vice-president in AES FX sales at Credit Suisse
ECU and HSBC clash over data
ECU wants the bank to hand over data relating to three stop-loss orders, executed in 2006, in a pre-action disclosure application
Esma: FX derivatives market worth €112.3 trillion in European Union
Accounting for 19% of transactions, FX is second-largest derivatives market in EU
FCA fines Merrill Lynch £34.5m for Emir reporting failures
First penalty issued by FCA for breaching Emir reporting requirements
Swissquote: dollar has room for correction, but not a comeback
The bank's head of market strategy says markets under-appreciate the Fed's commitment to policy normalisation
EU and US regulators agree on margin equivalence
As the regulators take a common approach, Mifid II-regulated venues look set to be exempt from Sef registration requirements
Judge allows Rodgers’ ‘Russian name’ analysis into case
Judge does about-turn and allows Rodgers – whose $1,100 hourly fee riles prosecution – to enter his findings in court
Euro appreciation to slow, says BMO Capital Markets
Canadian bank sees dips in EUR/USD as buying opportunities, given US dollar is in medium-term downtrend
Goldman Sachs reshuffles FX sales
Rombouts becomes co-head of corporate derivatives for Emea with Alessandro Dusi; Crook and Murciano co-head FX sales
London Stock Exchange Group boosts LCH stake
LCH’s activity has ballooned over the past 12 months, with its ForexClear platform clearing more than a trillion dollars’ worth of non-deliverable forward trades in August
GTX to launch full-amount trading on its ECN
Gain Capital’s trading venue offers full-amount execution as it seeks to reduce market impact
IS Prime reports stunning results
Prime-of-prime provider experiences 900% rise in profits
Watson joins Tradition as global head of market data sales
The former chief executive of ADS Securities Europe moves to broker Tradition in London
ECB minutes reveal concerns over euro strength
Single currency has risen almost 6% over last three months, touching $1.1906 - highest since January 2015
FX forwards users drop EU banks over margin rule
Other dealers do not have to collect margin on physically settled forwards
EBS Direct is moving to automatic full-amount for some orders
Manual orders of five million base currency or more will be automatically executed as full-amount tickets from September 5
The only game in town is Mifid II, says Bloomberg’s Van Name
With less than six months to go, market participants are scrambling to get ready