Trading
Review of 2012: January – March
FX Week looks back on the biggest stories of 2012, starting with the first quarter. To read the original stories, click on the links in black
NFA demands $3.3 million from FXDD
Regulator forces margin forex broker to set aside funds to meet client repayment fines ahead of guilty verdict
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
FX Week Europe 2012: The five-year plan for the FX market
Speaking at the FX Week Europe conference in London, four senior market participants made their predictions about how the FX market will evolve over the next five years
FX Week Europe video: The challenges of FX in 2013
Senior market participants, including David Puth from CLS and Record Currency Management's Neil Record, speak to Kathy Alys about the major challenges of 2012, and their hopes for 2013
SuperDerivatives to launch low-cost market data platform
DGX is aimed initially at corporates, private banks and investors, and will provide low-cost market data across all asset classes
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
HSBC echoes call for greater official focus on offshore RMB
The FX market's fixation on the crises in the West has led participants to miss out on opportunities in offshore renminbi, and governments should give greater support to the currency’s development, HSBC believes
Photo gallery: Best Banks Awards, November 2012
Photos from FX Week's Best Banks Awards dinner, held in London on November 21
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
US regulators fine forex trading companies $1.8m for fraudulent retail FX trading scheme
New York court fines three companies and bans them from trading in off-exchange market
GFT exits retail FX in US and Japan
Retail broker remains in a strong financial position with sufficient regulatory capital, says chief executive Gary Tilkin
Photo gallery: FX Week Europe, November 2012
Photos and stories from the FX Week Europe conference, held in London on November 21
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
Questions remain on clearing and collateral
While confirmation of the US Treasury exemption came as a welcome development last month, further issues must be resolved in the coming months on the clearing of FX options and margin for uncleared trades
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
Almost $1 billion in MF Global UK client assets recovered
Findings of six-monthly progress report published by special administrator of defunct broker
Newscape Capital launches quant FX fund
London-based Newscape believes investors have too much focus on fixed income and equities and should have more capital committed to the FX market
GKFX selects Gold-i Gate Bridge to connect to liquidity providers
Online broker expands product coverage with new connectivity to liquidity providers