Swaps
TJM hires two for sales team
Foreign exchange intermediary firm pulls talent from Jefferies and CIBC as it embarks on FX business diversification
Bats Hotspot prepares outright FX forwards launch
New product could get rolling in the autumn
Regulation will change markets, but slower than expected
But market participants say they are in the early stages of a transformation that could accelerate in the coming years
Declining spot sinks FX volumes in US
In October, average daily volumes were 26% lower than in the same month of 2014
US Senator commends House clearing exemption for FX
The decision by the US House of Representatives in December to exempt foreign exchange swaps and forwards from mandatory clearing requirements seems sensible, said Judd Gregg, a member of the Senate Committee on Banking, Housing and Urban affairs.