Trading
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
Legal & General's FX trading head tasked to grow derivatives
Newly appointed to head FX trading at Legal & General Investment Management, options trader Virginie Queval is looking at ways to grow the firm's small FX business
Russia's ruble expected to become major currency by 2015
Market participants are bullish about the ability of the ruble to quickly penetrate the group of top global currencies, but settlement issues remain the biggest obstacle
FX markets in mid-year lull as yen volatility dries up
The yen has become more range-bound following its dramatic fall earlier in the year, creating a lull in FX market activity during the western summer weeks
Thomson Reuters reduces price granularity in three currencies
Mexican peso, South African rand and Russian ruble are now priced at a minimum tick size of five pips rather than single pips, taking Thomson Reuters Matching a step further away from decimalisation
Future of e-FX will be cross-product, says Citi’s Bibbey
Richard Bibbey, Citi's new head of e-FX trading, believes the landscape is changing and successful banks will be those that can leverage technology across products and asset classes
Flight from EUR/USD leads to record low volume on EBS
Summer downtime and poor dollar performance combine to give EBS its worst set of figures for seven years
FX platform pricing needs a rethink, say banks
Greater transparency on fees at some new trading platforms is a welcome development, with banks calling on incumbent platforms to rethink their fixed costs, as well as the discounts they offer to incentivise volume
State Street's Bond fixes sights on new initiatives
Appointed as Cliff Lewis’s deputy last year, Martine Bond has since stepped up to run trading and clearing within State Street’s Global Exchange business, managing both Currenex and FX Connect
Yen volatility drives record turnover, central bank surveys reveal
Volume was up across forex products in the UK and US in April 2013, with just over $1 trillion traded daily in the US and more than $2.5 trillion in the UK
Liquidity mirage continues in FX, despite platform efforts
Several FX trading platforms have taken steps to prevent price flashing and other disruptive practices, but some participants remain concerned about the quality of liquidity that is shown by platforms and aggregators
Tradition-Icap ramps up FX options offering with RFQ product
Broker is adding VolCall to its Volbroker platform in the hope of taking more of its options business electronic
FX Week USA: Speed bumps not the way forward for platforms
The use of randomisation to effectively insert a speed bump into incoming orders on platforms is dismissed by panellists at New York conference
Market conditions point to uneven global recovery, says Treasury official
Speaking at FX Week USA conference, Daleep Singh acknowledges the improvement in economic conditions in the US but calls for a more balanced global recovery
EBS Direct on-target for full launch, says Icap
Beta testing has been successful and the new disclosed liquidity pool will be fully rolled out later this year, says Michael Spencer
FX investors struggle to exit illiquid EM currencies
A rush to sell certain EM currencies in recent weeks has led to a dearth of liquidity and heightened the risk for buy-side firms
The hidden challenges of Mifid II in the FX market
The implementation of Mifid II might be several years away, but market participants face challenges in properly implementing the regulation while also realising the benefits of liquidity, transparency and flexibility, warns law firm Jones Day
UniCredit eyes growth in institutional FX without e-commerce focus
As the Italian bank looks to extend its client footprint into the institutional space, further development of its FX platform is not a central part of the strategy
Agency brokers ‘encouraged’ by CFTC response to concerns
Lobbyists are hopeful a resolution will be reached to their concerns over external business conduct rules that have forced agencies to retreat from FX derivatives
Esma under pressure to approve FX dual-reporting solution
FX market participants are pressing the regulator to support a proposed solution to the challenge of dual trade reporting without a central infrastructure to issue trade identifiers
Markets braced for dollar to rally post-FOMC
As Fed chairman Ben Bernanke is expected to confirm plans for tapering of bond purchases, FX traders say the dollar will rally in response
Citi’s Feig takes on broader e-trading role
Jeff Feig retains responsibilities as head of G-10 but will now also focus on co-ordinating and developing electronic trading across asset classes
CME forex trading booms but clearing remains slow
CME Group has boasted record FX volumes in recent months and is preparing to launch its London-based derivatives exchange in September, but take-up of its OTC FX clearing services remains slow. Derek Sammann, CME’s head of FX and rates, tells Robert…
EBS takes aim at maligned aggregation practices
Icap’s EBS is setting out new best practices on aggregation and will only connect to aggregators that adhere to them, as it seeks to further overhaul the experience of its liquidity consumers