Trading
Deutsche blazes trail with decentralised front-office staff
A small FX sales team in Birmingham might seem a minor project, but industry veteran Steve Turner gave up his preconceptions about the city last year to run the team, and believes it allows the bank to improve the quality of sales while reducing costs
BlackRock threatens to go own way on UTI generation, says industry source
Asset manager takes unusual step of generating unique trade identifiers itself as banks react slowly to challenge
Digital currency platforms emerge as Bitcoin gathers momentum
Recent developments in digital currencies are presenting opportunities for new platform providers
LMAX chief executive predicts FX volumes to double by 2020
LMAX has added offshore renminbi and the Russian ruble to its growing list of currencies as it hopes emerging markets will spark dramatic growth in FX volumes
RMB convertibility will be catalyst to offshore trading, say bankers
Buy-side firms will remain reticent in using renminbi until it becomes a fully convertible currency, despite the progress that has been made in recent months
FX futures set to benefit from regulatory shifts, Greenwich says
Capital requirements, initial margin and mandatory clearing of options and NDFs will boost futures trading
No immediate sanctions for trade reporting failures, says FCA
UK regulator willing to give participants time to get trade reporting right after February 12 deadline
Bonuses will disappoint but job prospects encouraging, recruiters say
Headhunters say banks will look to replenish FX teams but bonuses will likely disappoint this year
FastMatch revamps matching engine to grab market share
Start-up platform has overhauled its matching engine to maximise fill rates and reduce response rates for clients as it seeks to grow volume
Gain GTX gathers momentum as it awaits Sef licence
Gain Capital's institutional platform reached average daily volume of $20.4 billion in November, a year on from the appointment of Joseph Wald to run the platform
Buy side places faith in diverging monetary policy
After a dull end to 2013 that was characterised by excessive consistency among key economies, fund manager Dori Levanoni is eagerly awaiting greater divergence in monetary policy
FX benchmark manipulation: a buy-side perspective
Banks have been caught at the centre of the regulatory probe into manipulation of benchmark exchange rates in recent months, but the scandal could also affect buy-side firms that rely on benchmark fixes. Kathy Alys talks to Patrick Fleur, head of trading…
Chat room bans could drive traders back to the phone
Several banks have banned the use of chat facilities in response to the FX fix investigations, but some believe the ban may only make communication less transparent
Industry should be ready for reporting deadline, warns Esma
Despite ongoing challenges relating to European trade reporting, the industry has had 13 months to prepare and should be ready for the February 12 deadline, says European regulator
Mercury Forex diversifies from spot, takes over FX24
Swiss currency manager has collaborated with FX24 to launch a new discretionary trading programme
Perspectives on 2014: Simon Wilson-Taylor, Molten Markets
Algorithmic execution might have seemed implausible in the FX market a few years ago, but this will be the year when the market structure shifts further in a direction that favours algos, says Molten Markets chief executive Simon Wilson-Taylor
Perspectives on 2014: Simon Jones, Mako FX
This will be a year when banks face up to the reality of regulation, constraining their ability to innovate and provide consistent liquidity, but there is an opportunity for regional banks to gain an edge, says Simon Jones, managing partner at Mako FX
Perspectives on 2014: Andrew Coyne, Traiana
With less than six weeks to go until European trade reporting requirements come into effect under Emir, getting the necessary plumbing in place must be front and centre for all market participants, says Traiana’s chief executive
Perspectives on 2014: Roger Rutherford, ParFX
With 12 banks now trading on ParFX as members, the platform will open up to the buy side in the coming months, which will test the strength of its business model and trading rules
Perspectives on 2014: David Puth, CLS
Working with dealers and central counterparties on settlement of centrally cleared FX options is a ‘high priority strategic objective’ for 2014, says CLS chief executive David Puth
Offshore RMB market booming in London, report finds
A study by the City of London Corporation reveals the City's efforts to become a global hub for renminbi business are paying off, with daily spot value reaching $4.8 billion last year
Extent of Sef-driven fragmentation revealed in Isda survey
Almost 80% of respondents indicate that Footnote 88, which required all platforms to register as Sefs by October 2, has resulted in fragmentation of liquidity in FX options and NDFs
Industry bets on clearer FX trends for 2014
As banks and investors cast their bets on the major currency movements to watch out for in 2014, FX Week presents the highlights of forecasts for the dollar, euro, yen and EM currencies
FX Week Europe: Industry outlook for 2014
Senior market participants, including Paul Chappell from C-View, Will Patrick from CME Group and David Mercer from LMAX Exchange, tackle the key trends of 2013, and their expectations for 2014