Trading
Consultants fear mis-selling as forex brokers discover new options
Foreign exchange brokers – which execute spot and forward currency trades with smaller businesses – are now offering options-based structures to clients in the UK. Consultants worry about the potential for mis-selling as the trades they are seeing are…
ADS Securities launches in London
The Abu Dhabi-headquartered company opens in London and entrusts James Watson to lead its expansionary efforts in Europe
Banks consider sealed trading rooms to reform benchmark procedures
Traders executing fix orders are to be isolated from colleagues to prevent manipulation
Saxo Bank wins with bullish dollar view
Dollar rally should continue as the Fed tapers its stimulus programme in contrast to the stance of the ECB and Bank of Japan
Sefs record FX volume uptick as buy side signs on
Sefs top $200 billion of FX volume in one week to mark one-year anniversary
Volume boost for EBS at last
Volumes up in third quarter, but still depressed by historical standards
Tradition launches African FX futures
Zambian, Kenyan and Nigerian currency futures to be offered on JSE
Global trade reporting ‘a mess', Sibos delegates told
DTCC and Commerzbank tell Sibos delegates that global derivatives trade reporting requires further regulatory intervention to be a success
BlackRock's Novick slams banks' 'reprehensible' behaviour
Banking ethics and the enormity of regulatory fines are discussed by Sibos panel
Deutsche Bank executes first direct EUR/CNY trade
The move will help the formation of a direct exchange rate between the two currencies
BuysideFX shuts up shop
Buy-side focused vendor closes following client withdrawal
FSB releases final benchmark report
FSB supports wider fixing window, the separation of benchmark orders and industry-led netting solutions
Colt expands FX Liquidity Access service
Regional banks hanker after greater FX liquidity
EBS is no longer a one-trick pony
EBS CEO Mandelzis and Darryl Hooker, head of EBS Market, say the platform is poised for growth as it moves away from a one-trick pony approach
Agency execution set for strong growth
Growth is being driven by the changing role of dealers and best execution pressures on the buy side
Nomura wins with bearish yen view
The bank anticipated Japan's decisions would weigh on the yen, on top of the widening divergence of its monetary policy with the US
African FX market needs ‘kick up the backside’, say local banks
Volume growth hampered by regulation, but banks cautious towards new product releases
FCA investigation becomes systems and controls case
Banks and the FCA have reportedly entered into talks to settle allegations of benchmark manipulation, with the focus turning to systems and controls as regulators struggle to link senior management to complaints
FSB to recommend fix order separation
The recommendations, set to be published within days, will include widening the fixing window and code-of-conduct changes
UK benchmark-rigging laws to extend to FX
Government launches consultation on wider criminalisation of benchmark rigging
Global renminbi payments triple in value
One-third of the world's financial institutions use the renminbi for payments to China and Hong Kong, making it the seventh-ranked global payments currency
Hotspot taps into FX dark pool demand
Hotspot has thrown its hat into the ring to compete for FX spot dark pool business amongst the likes of BGC Partners and FXall
FSB to publish FX benchmark reforms within days
The first look at how regulators want the 4pm fix to be managed is set to be revealed by the end of the month by the FSB
O’Malia urges CFTC to rethink Sef registration rules
CFTC’s approach has caused ‘mistrust’, says ex-commissioner