High-frequency trading (HFT)
More co-operation to come between banks and NBLPs
As liquidity providers increasingly split into the two extremes of risk appetite in both the bank and non-bank liquidity space
Non-banks charge ahead, but HFTs see warning signs
New risk-warehousing models are outpacing non-bank players that rely on latency advantages
Edgewater Markets raises $30m for expansion drive
As part of the deal, the firm's board will gain two new participants from FTV Capital
FXCM study underlines segregated pricing advantages
Retail clients gain better or equal prices than on interbank and futures platforms more than 90% of the time
Electronic trading grows tenfold in some EM currencies
Delegates at the FX Week Asia conference in Singapore heard about the challenges and opportunities Asian electronic trading offers
Citadel expands into FX market-making
One of the largest non-bank players in US equities has joined the ranks of market makers in FX
Black Phoenix glitch highlights PB dangers
A Chicago-based firm's rogue algorithm highlights the dangers of running PB relationships without appropriate credit risk controls
EBS Live moves to 50 millisecond updates
EBS Live set to update twice as fast as previously, while minimum quote lives will be halved
Non-bank market-makers to increase role in FX
Non-bank market-makers to gain ground against banks in the increasingly commoditised business of market-making in FX
Perspectives on 2014: Roger Rutherford, ParFX
With 12 banks now trading on ParFX as members, the platform will open up to the buy side in the coming months, which will test the strength of its business model and trading rules
Thomson Reuters ‘considering’ randomisation on Matching platform
The largest FX trading platform by volume could be the latest trading venue to apply randomised pauses, following EBS and ParFX
FX Week Europe: 'Patchy' liquidity in FX a concern for the future
Concentration in the number of liquidity providers and the reliability of HFT market-making raises concerns for senior industry officials
ADS Securities rolls out multi-asset platform
New platform Orex Optim has now fully launched after two years of development and six months of testing at the Abu Dhabi-based firm
High-frequency firm AienTech shuts up shop
Technology-focused hedge fund made its mark in FX as a top provider of volume to bank platforms
High-frequency traders face up to regulatory clampdown
Regulators have set their sights on high-frequency trading, but some participants believe the industry is already changing
FX platforms encouraged to consider liquidity enhancing pricing models
A proposal made to the FX Joint Standing Committee in July 2012 for a per-order fee that is rebated in proportion to actual executed volume has garnered support among market participants
Vendor e-FX initiative of the year: Traiana
Traiana's CreditLink product wins this year's award, having tackled an important layer of risk in the FX market, and enabled trading relationships to be terminated in real time on five occasions
Business as usual for Hotspot under new ownership, says platform chief
Delivering technology to tackle client problems is central to the mission of KCG, the new parent company of Hotspot FX, according to Albert Maasland, head of global execution services and platforms
Aggregation hampered by predatory execution
New aggregation guidelines from EBS could help to increase transparency of aggregation, but the relationship between liquidity makers and takers remains strained
Consensus lacking on optimal length for randomised pause
The concept of applying a randomised pause to FX trades as a means of deterring disruptive behaviour has garnered support from the users of both EBS and ParFX. But how long should the pause be in order to be effective but not damaging to genuine…
Hotspot reduces 'last look' response time by 100 milliseconds
Although the platform reports the cut has already had a positive effect, dealers working outside Hotspot's base in New York could experience latency issues
Banks welcome EBS latency floor
EBS consults on a new approach it hopes will reduce the advantage of super-fast trading algorithms
IPM sees buy-side differentiation through early adoption of e-FX
Fredrik Wingren, head of trading at Informed Portfolio Management in Stockholm believes being an early adopter of new technology gives the firm added clout in helping develop products in conjunction with the sell side
CTAs are an inexpensive and effective tail hedge, says AHL
Momentum strategies are rooted in observable market phenomena and tend to perform well in times of financial stress, says AHL’s chief scientist.