Banks
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
Apac investment bank revenues at five-year low
Australasia was the best performing region across Apac in 2017, with Ficc and equities revenues remaining stable
RBC Capital Markets: all e-FX trades subject to last look
The bank commits to FX Global Code of Conduct and publishes Ficc client notice
Peter Little to fight proposed Fed ban at trial
Lawyers for the ex-trader, who is looking at a potentially permanent ban from markets, say he is innocent and will be vindicated
UK regulators zoom in on algo trading
FCA and PRA launch co-ordinated push to improve risk management and governance of algorithmic trading
Bailey appointed FSCS chair
The FSCS is the compensation fund of last resort, protecting consumers in the event of an authorised financial services firm failing
Russell Investments calls on peers to commit to FX Code
Chief investment officer for currency says FX Global Code of Conduct embodies good fiduciary standards
FXSpotStream adds State Street as LP
Execution venue records highest-ever average daily volumes in January
FastMatch launches two new order types
The venue also makes changes to its system to improve market data rates
RJ O’Brien closes FX business, effective immediately
The firm no longer finds the space strategically attractive
BNY Mellon to build franchise partnerships using FXPB
The bank’s FX prime brokerage beta clients could go live within the next month
HSBC to pay $101 million to settle with DoJ
UK bank enters into deferred prosecution agreement and agrees to pay criminal penalty over Cairn Energy and other FX conduct
Bundesbank to include renminbi in reserves
Onshore renminbi jumps to strongest level against the dollar for more than two years, following comment from Germany’s central bank
Bogucki plans to fight fraud charges in California
Former Barclays FX head returns ‘not guilty’ plea during arraignment at Brooklyn court
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
China reportedly tweaks yuan fix
Markets reacted by selling the yuan, which fell 0.5% against the US dollar to 6.5291 from 6.4968 on Tuesday – its biggest drop in two months
New records for LCH volumes in 2017
Strong growth driven by roll-out of new products, regulatory change and onboarding of new customers globally