Tech and data
Electronification of Asian FX only just beginning
Jay Hibbin, VP of capital markets services at Colt, says Asia offers opportunities for latency sensitive traders
FX reserves hit historic highs
Growth in FX reserves continued last year, but at reduced speed
US overtakes Taiwan as offshore RMB clearing centre
The value of RMB payments between the US and China jump 229% in the year to April 2014
Instantaneous hedging is not market-making, says GSA
Rise of hot potato trading is direct result of instant hedging from market-makers, says GSA Capital
Latam reserve managers experiment with renminbi
Renminbi viewed as an attractive reserve asset in Latin America due to growing business links with China; renminbi statistics may not be showing up in IMF data
Raiffeisen Polbank selects TradAir FX rate engine
Raiffeisen Polbank goes live with rate engine and market-making distribution network
Standardisation reaches back-office functions
The fragmented nature of FX has made client management on platforms costly and cumbersome
EBS Live moves to 50 millisecond updates
EBS Live set to update twice as fast as previously, while minimum quote lives will be halved
CLS will adhere to US sanctions on Russia
The ruble looked set to become the 18th currency to be settled through CLS, and while both the CBR and the industry utility are committed to the deadline, political uncertainties remain
ITG study finds fixing time "irrational and expensive"
ITG looked at eight currency pairs on Thomson Reuters Matching, one of the data sources for the now controversial WM/Reuters fix
Trade life-cycle monitoring migrates to FX
A new breed of monitoring and surveillance technology arrives in FX
Hungary tightens bank FX funding rules
Hungary's central bank aims to smooth out maturity mismatches between long-term foreign exchange loans and the short-term funding banks' use
Brokers at loggerheads over Sef volume data
Following the FIA's launch of a Sef volume data service, brokers warn that problems still remain at the source of the published data
Buy side steps in as banks tire of delegated reporting
Buy-side firms are offering delegated reporting for clients as banks understood to be weighing up whether to continue offering the service
Fixation on internalisation is ‘nonsense’, say banks
Banks respond to increasing industry focus on internalisation of FX trades, arguing the practice offers better execution for clients than trading on primary platforms
Caplin Systems appoints John Ashworth as chief operating officer
John Ashworth joins Caplin Systems as COO
Industry should be ready for reporting deadline, warns Esma
Despite ongoing challenges relating to European trade reporting, the industry has had 13 months to prepare and should be ready for the February 12 deadline, says European regulator
Buy side could miss Emir reporting deadline
Banks are racing to meet a February 12 deadline for trade reporting under European rules, but buy-side firms might not be ready to meet their obligations in time
Esma repository approvals fire starting gun for EU trade reporting
Mandatory trade reporting for all asset classes will begin on February 12, but the FX industry is still grappling with the challenges of dual reporting
TriOptima unveils UTI pairing service for Emir reporting
Icap-owned technology provider seeks to tackle the dual reporting challenge for paper-confirmed trades and FX trades without a common ID
Bloomberg launches US dollar benchmark
New US dollar index will represent 10 currencies, including Chinese renminbi and the Australian dollar
State Bank of Vietnam taps Thomson Reuters for FX monitoring system
Vietnam's central bank takes a step forward in increasing transparency and reporting in its foreign exchange market
Euro-denominated FX reserves rise again
After several quarters of declining central bank holdings in euro, recent data from the IMF suggests reserve managers have started to increase holdings in the currency again, albeit by a very small amount, says Thomas Stolper