Foreign exchange
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
Currency managers report pick-up in investor interest
Buy-side firms are starting to see some opportunities following a decoupling of central bank policy that has in turn sparked client interest in FX markets
Commercial banks set to dominate FX trading yet again
The FX market is heading back to the 1990s as smaller, regional banks make a comeback and take back ground from investment banks
Carney pledges to push BoE FX investigations all the way
Carney pledges to get to the bottom of allegations that BoE condoned market manipulation in FX markets
Gain Capital wins with a technical view on USD/JPY
Gain Capital sees long-term depreciation in the yen and near-term upside in EUR/USD
Fixing scandal could become biggest crisis FX market has faced
Apart from senior traders, the Bank of England has become the first central bank to take action in connection with the global regulatory probe
Three-quarters of FX volumes now executed electronically, say Greenwich Associates
Deutsche Bank, UBS, Citi and Barclays now collectively handle almost half of overall global flows as electronic execution in G-10 hits 79% and 56% in emerging markets currencies