Banks
New York Fed commits to FX Global Code
It promises to conduct its currency business in a manner consistent with the set of principles
MarketFactory launches pre-trade limit tool
Reflector monitors and balances the limits and positions across all trading venues
G10 FX revenues hit two-year highs – Coalition
The first quarter of 2018 saw a reversal of revenue contraction seen in the last two years, with profits up 20%
FX lawsuits: the roundup
The number of cases related to conduct in foreign exchange markets has multiplied. Here is our handy guide to developments so far
DoJ indicts another FX trader on price-rigging charge
US says Akshay Aiyer conspired with other New York-based traders at rival banks to fix prices in Ceemea currencies
FX Cartel loses bid to dismiss criminal case
Judge says SFO investigation was a sign the currency traders could be prosecuted somewhere
Weller joins Saxo Bank as Mena chief
Steve Weller headed the FX business at Sberbank CIB before resigning and taking a break from the industry
Bogucki hearing scheduled for May 23
Defence lawyers are set to argue that the charge is time-barred and not applicable to this case
Ficc revenues bounce off lows but still down
European banks bounce off lows in Ficc revenues in the first quarter of the 2018, but year-on-year earnings remain negative
Johnson sentenced to two years in prison
Johnson was taken to prison immediately after the hearing, but lawyers are preparing for appeal argument
FX veterans launch Global Code consultancy
Nick Downes and Julian Gladwin form Axiom Global Advisors to independently assess firms’ preparedness for adherence
More than 100 participants commit to FX Global Code
Global Foreign Exchange Committee plans to launch Global Index of Registers before June meeting
Exegy launches FX market data and order-entry solution
Trade Port FX allows market participants to organise FX market access through a single vendor
BoJ prepares to link settlement system with Hong Kong
The connection will provide a new pathway for Japanese banks to obtain Hong Kong dollars and cut the exchange-rate cost
Fresh Libor claims may follow PAG appeal, but the clock is ticking
Potential consequences of PAG decision are far-reaching in scope and scale, says Simon Bushell at Signature Litigation
JP Morgan invests in AccessFintech
The risk management services firm, led by Roy Saadon, will work with the bank to test its technology
CloudMargin secures $10m to fund growth
Provider of collateral and margin management deepens relationship with IHS Markit
TriReduce CLS FX expands compression service to third parties
All market participants can now take advantage of the compression benefits
Philippines bankers partner Bloomberg on FX initiatives
Bloomberg has been selected as the calculation agent for USD/PHP and bankers will use FXGO for spot trading
Lawyers in cartel case argue against antitrust accusations
Depending on the type of relationship, the Sherman Act may or may not apply
Antitrust attorneys prepare to depose UK traders
Despite the court extending a partial stay on depositions until June 8, lawyers have been granted access to interview some UK-based people
Salmon exits GFXC and BoE for private-sector opportunity
Federal Reserve Bank of New York’s Simon Potter will act as interim chair with immediate effect
TickTrade partners Applied Financial
The move opens the Canada-based trading technology firm to markets in Asia, Europe and the US
BIS warns of virtual currency risks
CBDCs could have an impact on global financial stability, and large demand could force central banks into risky assets, new report says