Trading
E-FX Awards: Coming full circle in technology
Traiana, Deutsche Bank, BNP Paribas, EBS and Citi's Jeff Feig are among the winners of the 2013 e-FX awards, which recognise excellence and innovation in FX technology
Best retail platform: Spotware Systems' cTrader
Spotware Systems wins the retail award having successfully launched a platform that challenges the dominance of MetaTrader in the retail market
Best algorithmic trading technology provider: BNP Paribas
BNP Paribas successfully breaks into the increasingly competitive market for algorithmic execution in foreign exchange
Options platform of the year: Digital Vega
Despite the challenges faced by multibank options platforms as a result of delays in regulation, Digital Vega has managed to build consistent liquidity on its Medusa platform
Best transaction cost analysis technology: ITG
Investment Technology Group (ITG) takes the inaugural award for best FX TCA provider, having successfully leveraged its experience in the delivery of TCA in equities
CFTC-EC cross-border agreement causes concern
Lawyers warn allowing strictest regulation to prevail will create heavy-handed regime, and regulators have still not fully aligned on treatment of FX swaps
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
FTT would ‘drain financial resources’, GFXD research claims
The global FX division is upping its lobbying efforts to have FX derivatives carved out of the financial transaction tax with new research that shows the potential impact of the tax on transaction costs
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
Regulation deters currency managers from retail FX
Mifid requirements for enhanced transparency and due diligence for retail investors makes retail FX less attractive for some currency managers
No CVA exemptions in US Basel III rules
Europe isolated as US regulators opt for broad counterparty risk charge
Thomson Reuters acquires Tradeweb FX options platform
Clients of the Tradeweb platform will migrate to FXall where they will get "more diverse access to liquidity", says chief executive Lee Olesky
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
Rise in fraud prompts system upgrades for retail brokers
Brokers with weak anti-fraud protection in place risk a detrimental impact on the rest of the industry, participants warn
IG to roll out MetaTrader 4 alongside proprietary platform
New platform is to be implemented with a pilot group of clients next month and then rolled out fully in August, says chief executive Tim Howkins
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
Retail FX volume leverages the volatility boom
Growth in retail volume this year is not just a return from low volume in 2012, but a long-term trend, say market participants
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
MAS overhauls benchmarking practices
Twenty banks found to have deficient procedures in place after a year-long review of benchmark submissions