Foreign exchange
Saxo introduces no-dealing desk accounts
Saxo gives retail clients direct access to liquidity and launches a more integrated MetaTrader 4 offering
BNP Paribas comes top with dollar view
Dollar and sterling should be the winners against the euro and the Japanese yen as further aggressive easing is expected
Agency desk growth will be slower than expected, traders say
The chance of 50% of the FX market going to agency execution within five years is viewed as highly unlikely, but some banks wager on agency being the future of FX trading
Thirty firms placed under FX ‘remediation programme’
G-10 FX spot desks are placed under supervisory watch by the FCA as the industry tries to clean up its act
SNB may intervene in EUR/CHF 'as early as this week'
A Yes result would make it difficult for the Swiss central bank to defend its floor
Mallett dismissed from Bank of England
Grabiner report unveils transcripts of conversations between Mallett and market participants discussing "matching off" trades
Regulators slam banks with fines totalling $3.4 billion
Five banks have been ordered to pay total fines of $3.4 billion in relation to the global regulatory investigation surrounding FX benchmarks
FX settlements strengthen civil law suit in US
Lawyers representing the plaintiff class in a civil lawsuit in New York have been encouraged by regulators' settlements with banks over their misconduct surrounding FX benchmarks
Should investors fear a rising dollar?
Stephanie Flanders says emerging markets are set for a bumpy ride in the months and years ahead as the greenback rises
'Last look' will prevent settlement with regulators, warns New Change FX
Banks and regulators are preparing to hammer out a deal in relation to the global probe into currency trading, but questions surrounding 'last-look' practices could stall the process in the US
EBS targets regional banks with Liquidity Optimization
EBS Liquidity Optimization signs up 15 customers in one year
Sucden's e-FX volumes almost double Q3 of last year
The record volumes, attributed to new and existing clients, follows the appointment of new head of e-FX Peter Brooks
Treasury announces digital currencies consultation
The consultation will examine the risks and benefits of digital currencies, including the potential threats to the stability of the financial system
Liquidity concerns still haunt Ficc
The cost of maintaining Ficc market-making operations outweigh the benefits for banks, leading to fears that a market event could have serious consequences
FCA investigates Tullett Prebon for wash trades
Tullett Prebon is being investigated for trades with no economic purpose and one ex-employee is embroiled in it, as well as the Libor scandal
Flow FX approaches all-to-all market structure
Growing buy-side access to interdealer flows creates an equities-like market structure; banks focus on monetising agency models
EBS volumes hit record high for 2014 on October 31, topping $200bn
The company records flows of $250 billion on the last trading day of October
Moody's sees $14.5 billion FX fines for top banks
Moody's believes FX settlements could be close for major banks
Product launches, November 3, 2014
Product launches and announcements in the FX industry
Saxo wins forecast with contrarian EUR/USD call
The bank expected the dollar to start accumulating gains as the divergence between the monetary policies of the Fed and the ECB gathers pace
KCG open to Hotspot sale
The financial services firm has expressed an interest in selling FX platform Hotspot, despite a rise in year-on-year volumes
Banks set aside more than $6 billion for FX fines
Large currency dealing banks prepare to draw a line under the global regulatory probe into currency markets as they brace themselves for fines
Dollar bull run threatens corporate earnings
The days of not hedging earnings risk are over for many corporates, according to banks and treasurers, with the dollar's strength and more international trade set to be the catalyst
Surge in RMB payments between offshore centres
Share of RMB activity for international payments between offshore hubs reaches 3.25%, and usage grows for payments, FX and trade finance