Foreign exchange
Let Hornby's FX nightmare be a lesson to smaller firms
Philippe Gelis writes that small and medium corporates can incur significant losses if they fail to hedge against moves in FX
Panel clashes on best execution and NDF clearing in Boston
A panel at the annual FX Invest conference in Boston tackled the difficulties of NDF clearing and best execution costs
Fear of EM volatility irrational and dangerous, says Ashmore
EM returns have outstripped those of major holding currencies in a directionless market; economic fundamentals also support gains
Buy-side firms approach BoE to take more active role on FXJSC
Large buy-side firms keen to take a more active role on FXJSC after allegations dealers manipulated foreign exchange benchmarks
CLS warns Alice ruling may impact all financial companies
Legal dispute with Alice Corporation over technology patent now with US Supreme Court
EBS Direct suffers outage, trades unmatched overnight
Glitch started in Asian trading but did not affect EBS Market platform
FSB may publish FX benchmark recommendations before November
The FSB's foreign exchange steering group may recommend changes to infrastructure around benchmarks and wider infrastructure sooner than previously thought
No full disclosure on FX scandal in 2014, says FCA's Wheatley
Martin Wheatley, head of the UK's Financial Conduct Authority, says ongoing investigation unlikely to be concluded this year; laments prevailing culture of ‘ethical flexibility'
Asset managers are most significant non-bank market participants
Head of banking at Bank for International Settlements highlights growing role of non-bank market participants in FX
Credit Suisse a named defendant in FX antitrust law suit
Credit Suisse is one of 11 named defendants in a US class-action lawsuit that alleges a breach of antitrust laws, but says it hadn't been part of Weko's preliminary investigation and is astonished to be named as part of probe
RMB volatility slows corporate hedging activity
Demand for structured forwards down by 80% as corporates wait for RMB to stabilise, dealers say
London RMB clearing bank likely to be Chinese, says RBS
Renminbi trading in London is likely to be run through a Chinese clearing bank, say market participants, following the agreement due to be signed on Monday
Thomson Reuters trials randomisation, updates rule book
Thomson Reuters Matching has announced an update to its rule book in a bid to level the playing field among market participants
A lot of work ahead says Marshall Bailey, president of ACI
Marshall Bailey says FX market must learn from current upheaval and prepare for "thinking outside the box"
CBA tops the chart with euro and yen views
Commonwealth Bank of Australia (CBA) hits the spot as current account positions take centre stage
Virtu's IPO: the $100 million question
Alessandro Pasetti writes about investment strategy and assets valuation for banking clients mainly based in London and Europe. He previously worked for Dow Jones/The Wall Street Journal doing M&A research for the IB community. He has worked in equity…
EBS rolls out randomisation across the board
EBS implements one to three millisecond latency floor in most active currency pairs after a six-month trial in the Australian dollar and Swiss franc
Thomson Reuters switches to 25 pip pricing in Russian ruble
Thomson Reuters Matching is increasing minimum tick sizes in the Russian ruble to prevent high-frequency traders from gaming others
FX Focus - Editor's Letter
Can currency managers begin to hope for more returns in 2014?
ANZ hits the spot with bullish euro view
Forecast wins despite consensus view calling for a sharply lower currency by March
Analytics firms trawl for evidence in fix, proof yet to be found
The trawl for evidence continues as allegations that traders colluded to manipulate benchmark prices remain unproved