Spot market
Crypto ECNs aim to offer alternative to Clobs
CrossX and Cypator bring ECN-style trading and settlement to crypto, but rivals claim infrastructure isn’t ready
SGX’s new FX platform sees increased NDF trading from US firms
Sef exemption opens door to increased US buy-side interest
Looking to the futures: Transtrend’s trading head on the power of EFP
Dutch CTA firm says increased costs in OTC FX world will drive banks and buy-side to EFP
Plugging the leaks in skewed pricing
Liquidity recycling has made it trickier for LPs to identify information leakage
FXSpotstream names Ward as new CEO
Former EBS head will take up the role in January 2024, replacing Tom San Pietro
CME picks Houston to lead revamped FX unit as EBS’s Ward exits
Move follows exchange group’s plans to closely integrate EBS with its FX futures business
GFMA’s disruption template paused due to Isda definition clash
Close-out framework put on hold as Isda reviews 1998 FX derivatives rule book
Shhh, don’t tell: the struggle to keep skew under wraps
Liquidity recycling by clients has made it more difficult for banks to keep skews quiet
EBS unveils incentives to boost liquidity post-Globex move
Focus is on brokerage discounts and product expansion following replatforming
Buy-side firms eye perks of being a liquidity provider
Larger players increasingly see themselves as LPs and are asking for more in return
e-FX Awards 2023: The winners
JP Morgan and Deutsche Bank win two categories each, while UBS is best for spot
GFXC fosters global awareness of T+1 impact on FX
Many non-US firms yet to realise forex implications of the country’s shift to shorter settlement times
BNPP, NatWest turn to CobaltFX for credit limit management
The service will help the two banks rein in risks of credit overallocation on interbank platforms
Fast LPs accuse rivals of maxing out last look response times
Firms with sub-10ms checks complain of losing volumes to slower rivals, prompting one to ditch ECNs
SG1 growth slower than expected, say LPs
Despite sluggish take-up of Singapore FX matching engines, some hope a new NDF venue will offer a boost
US court greenlights most claims in Currenex class action
Civil lawsuit brought by XTX and two other financial firms advances to next stage before trial
BNPP, BofA and Nomura ditch last look add-on
Majority of top 25 LPs have now removed hold times as regulators step up scrutiny of controversial practice
Hedge funds’ use of barrier options comes under spotlight
Former traders say Glen Point CEO’s arrest highlights compliance gulf between funds and dealers
What’s the right price limit for an algo?
BestX assesses the different impacts a price limit can have on FX algo performance
Santander recognised in two categories at the 2022 Best Banks Awards
Sponsored content
TMX eyes spot crypto trading launch next year
Exchange group would become first in North America to offer direct access to spot market in digital assets
Liquidity drops 80% on dealer balance sheet constraints – BIS
Study finds top-tier banks are more likely to pull back when leverage and funding costs spike
Deutsche adds three to FX sales team
German bank recruits institutional sales head in New York, along with hires in London and Paris
Credit Suisse shakes up top line in new-look FX division
Swiss bank draws on electronic macro business for FX leadership roles