Trading
Participants encouraged by Thomson Reuters’ FX management changes
Phil Weisberg, who has been appointed global head of FX at Thomson Reuters, is widely seen as a strong appointment but will face challenges in his new role, say senior traders
The year of threats, or opportunities?
The maelstrom of strategic changes that have come to pass at EBS and Thomson Reuters now poses a threat to incumbent platforms that had previously capitalised on their reluctance to deviate from their core business
Knight Capital and Getco merger to close in Q2
The merger of the two firms, which was announced on December 19, will see FX trading platform Hotspot FX fall under new management
Weisberg to head FX at Thomson Reuters as Singh departs
Phil Weisberg, FXall's chief executive, has been appointed global head of FX at Thomson Reuters, while FX architect Jas Singh is to leave the company after 10 years
LMAX management team buys majority stake from Betfair
Management buyout will give LMAX Exchange the necessary flexibility to evolve into a leading FX venue within three to five years, says chief executive David Mercer
Has last look had its day in FX?
Last look remains a divisive issue in the foreign exchange market, but some platform providers believe it has had its day and is no longer necessary for banks
EBS volumes down in November
Average daily spot volume on EBS was $103.8 billion, down 28% year-on-year
ADS Securities targets HFT with new FX platform
New platform white-labels FlexTrade's systems and is pitched to high-frequency and high-volume traders
Bank of England must promote RMB trading, warns Chinese official
A swap line between the central banks of the UK and China would be a key step towards the growth of offshore renminbi, a former official of the People's Bank of China said yesterday
Credit Suisse cuts staff in FX sales and trading
Five employees are leaving Credit Suisse in London, including the head of European hedge fund FX sales, two spot traders and an options trader
EBS a ‘natural fit’ for ClientKnowledge, says CEO Trenner
EBS has acquired FX advisory firm ClientKnowledge and chief executive Justyn Trenner will become global head of EBS liquidity optimisation services
Agency execution model gains favour for FX trading
Under pressure from new regulations that will constrain balance sheet usage, the agency model is becoming increasingly popular with banks, but agency desks won't escape forthcoming hikes in cost
Thomson Reuters revamps Matching platform
Thomson Reuters has made a string of changes to its flagship trading platform, enabling greater depth of book in four of its most liquid currency pairs
Aussie strength causes problems for corporates after commodities fall
Australian mining companies have historically relied on the correlation between the Aussie dollar and commodity prices as a natural hedge for their AUD exposures, but a recent dislocation has made that hedge less reliable
High-frequency trading: managing the nuclear power supply
New York-based AienTech likens HFT to nuclear power that can be used for both positive and negative purposes, and chief executive Ugur Arslan is preparing to distribute his technology to the broader market in 2013
Bloomberg launches CNY market data service through Cfets
New service provides live interbank rates on USD/CNY and eight other renminbi pairs, priced from 26 participating banks
FX Week Europe: Aggregation here to stay, say tech providers
The growing fragmentation of trading venues and liquidity streams means the demand for aggregation is as strong as ever, say speakers at FX Week conference
Euro will survive and RMB will be convertible by 2017, say industry leaders
Speaking in the final panel discussion at the FX Week Europe conference, senior market participants made their predictions about how the FX market will evolve over the next five years
Deutsche creates Fic division under Amrolia and Felson
Zar Amrolia and Wayne Felson have been appointed co-heads of a new fixed income and currencies division at Deutsche Bank
Alpari registers in New Zealand, signalling pursuit for safe-haven markets
Retail brokers pushes out to New Zealand
Low volatility driving FX turnover down, says Bank of England FX chief
Speaking at the FX Week Europe conference, Michael Cross explains why turnover in FX spot is declining for the first time in a decade
Europe not obliged to follow US on FX exemption, warns senior MEP
The European Parliament's position on FX is that it should be included in the scope of organised trading rules under Mifid, vows Markus Ferber MEP
Taking HFT to task
As a small group of high-frequency traders (HFTs) rise to prominence as market-makers in spot FX, the reliability of their prices during times of market stress has been called into question – so much so that electronic trading platforms are taking steps…
Responding to change
Purnur Schneider and Christopher Cruden at Insch Capital Management in Lugano, Switzerland, use the Black-Litterman model to test strategies designed to work in changing market conditions