Trading
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
MAS overhauls benchmarking practices
Twenty banks found to have deficient procedures in place after a year-long review of benchmark submissions
ParFX targets buy side inclusion by Q4
The platform will open its doors to non-bank market participants later this year in what will be the real test of its level-playing-field design
StanChart expands e-FX experience into credit and rates
Following a reorganisation of its electronic trading business at the start of 2013, Standard Chartered’s Chris Knight now has responsibility for e-commerce in the eastern hemisphere across three asset classes. He talks to Joel Clark about what credit and…
NAB's new trading head sets sights on EM FX
David Jones, newly promoted head of FX trading at National Australia Bank, is based in London rather than Sydney, and has a mandate to focus particularly on emerging markets
ACI to develop new spot FX standards
Industry association plans to complete project by year-end to bring greater clarity to the definition of spot FX across currencies and geographies
CLS hits new record as FX volumes spike
Almost three million payment instructions were settled by CLS on Tuesday following a surge in trading volumes towards the end of last week
Diversified portfolios exposed to correlation risk, experts warn
Politics is a greater driver of G-4 currencies than traditional economic fundamentals, say panellists at CME event
Saxo Bank launches online news service Saxo TV
Web-based TV channel aims to provide one-minute video analysis of market events
Sharp drop in yen will destabalise markets, warn traders
Observers concerned over potential impact of rapid yen depreciation. However, others say effect will be limited to currencies in Asia
Start-up 7Hedge plans to take FX spot to exchanges
New company led by market data veteran Rafah Hanna and former Gain Capital salesman Michael Siwek plans to help exchanges develop FX spot capability
Thomson Reuters launches real-time FX data for RMB
Traders get access to collective volume data for offshore and onshore renminbi for the first time
BAML reshuffles rates and currencies
US dealer hires from Goldman Sachs, JP Morgan, Morgan Stanley and Deutsche Bank as it expands global footprint
Resilience in the euro fails to dent krona strength
A hands-off policy on the part of Sweden's central banks and good fundamentals mean the krona's ascendance will continue throughout 2013, say Swedish trading heads
Direct trading kicks off in Australian dollar and Chinese yuan
China allows direct trading between the yuan and Australian dollar to deepen financial links between the two countries and improve price transparency
Swedbank's Bo Sundström looks back on 40 years of FX trading
Bo Sundström is approaching retirement from Swedbank after almost 40 years as an FX spot trader in Stockholm. He talks to Miriam Siers about his experiences
Spotlight on: Scott Wacker, JP Morgan
Scott Wacker, head of foreign exchange sales for Europe, the Middle East and Africa at JP Morgan, talks to Robert Mackenzie Smith about how he plans to keep his team evolving
Market complacency over Korean won ‘staggering’
Traders have been slow to react to heightened tensions between North and South Korea
Euro bearishness reawakened post-Cyprus
Long euro positions have been unwound following the bailout of Cyprus and many participants now foresee further trouble ahead for the eurozone
Thomson Reuters Dealing expands into Nepal
Vendor reveals that 21 dealers in Nepal are live on its conversational dealing platform
Rolling spot faces inclusion in Dodd-Frank
FX spot is expected to be exempt from US clearing and exchange trading rules, but rolling spot could be classified as a CFD and so included within the scope of Dodd-Frank
CFTC ‘neglect’ of Sef rules angers platform providers
After missing numerous deadlines to finalise the criteria for Sefs, the CFTC will not publish the rules until late April at the earliest, much to the frustration of market participants
Demand for new FX trading platforms boosts providers
New trading platforms are being created to fill the gap between incumbent providers and the more niche areas of the market. Saima Farooqi looks at some of them