United Kingdom (UK)
Hancox and Pena exit Morgan Stanley
Dudley Hancox and Andrew Pena were senior members of the bank’s FX sales team
Thomson Reuters updates Mifid II services
Mifid II-compliant data now available from 57 global exchanges, and eight new trading and reporting venues
Cartel lawyers to argue for case dismissal on January 29
The legal representatives of Ashton, Ramchandani and Usher will ask a federal judge to throw out the case against the three men
FCA sees 'serious risk of harm' in CFD products
In a letter addressed to the chief executives of CFD providers and distributors, the UK watchdog highlighted several areas of concern
Monex Europe: bearish dollar outlook continues
But analysts are looking out for potential upside risks in US rates and inflation
Mark Johnson to be sentenced on February 15
Johnson’s lawyers are asking the court to allow him to return temporarily to the UK before then
BNY Mellon zeroes in on FX
Newly hired James Taylor discusses the business transformation taking place in foreign exchange at the bank
Esma proposes crackdown on CFDs and binary options
Esma considers ban on binary options and tighter leverage limit rules for contracts for difference
HSBC finds ‘non-existent’ ECU data
The bank must hand over trade data for three 2006 stop-loss orders to ECU Group by January 19 – four weeks earlier than planned
BNY Mellon to become a systematic internaliser
The bank will become an SI under Mifid II, taking on post-trade reporting obligations for clients
Court grants ECU’s data application in HSBC case
Judge rules that HSBC should hand over data to ECU group after the manager's pre-action disclosure request
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
BoE hikes rates for first time in 10 years
Pound falls more than 1% against dollar and euro following long-awaited decision on interest rates
IBM to launch blockchain-based payment solution
Initially available in the Pacific region for KlickEx clients, IBM plans to expands the network across the globe in 2018
Fed fines HSBC $175m for unsafe FX practices
Bank ordered to improve practices
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
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
James Taylor joins BNY Mellon
Taylor is a key hire for the bank whose markets business is undergoing an FX transformation
FreemarketFX appoints Crosswell to the board
Charlotte Crosswell becomes a non-executive director at the peer-to-peer currency exchange
BoE appoints Ramsden as deputy governor for markets and banking
He replaces Charlotte Hogg, who resigned in March
London FX trading at three-year high, despite Brexit
Turnover hits daily average of $2.44trn in April, 12% higher than in October 2016 and up 10% on a year ago – Bank of England
FCA warns on currency converter tools
UK watchdog follows up on investigation into payment institutions and their use of interbank rate in online tools
Cartel three out on bail after entering ‘not guilty’ pleas
Former senior currency traders released on combined $1.85 million bond and will return to court in November
ECB: bulk of euro trading will stay in London after Brexit
In its annual review of the single currency, the central bank says any shift from the UK to the EU will be gradual