Trading
A window of opportunity
With opinion split on whether last look is the defender or villain of the piece, FX participants are campaigning to raise standards and boost transparency, but some say the timeframe for action is diminishing. By Alessandro Aimone
XTX Markets provides liquidity on TraderTools
The move comes within weeks of the firm going live on 360T
Regulators fine Barclays $150m over last look
Barclays has been ordered to remove an unnamed global head of electronic trading for FX
Lagarde supports RMB inclusion in SDR basket
IMF managing director endorses the renminbi's inclusion in the special drawing rights basket after a staff report deems it 'freely usable'; executive board decision expected on November 30
GreySpark Partners opens New York office
Following openings in Edinburgh, Sidney and Hong Kong, the financial consultancy expands to the US
EM platform R5FX goes live with Indian rupee
The rupee becomes the fourth emerging market currency to launch on the trading platform
Saxo scores with four on-target calls
"I'm very convinced the Fed will move in December," says the Danish bank's head FX strategist
Worries mount over year-end liquidity conditions
With only six trading days between the Fed's last rate meeting and the holiday period, market participants are being warned to prepare for a rocky year end
USD/CNH enters top-five traded pairs on ParFX
The offshore renminbi experiences exceptionally strong growth in September
Saxo rolls out trading platform to white-label clients
SaxoTraderGO is now available for institutional clients, after its launch in May
FirstRand joins CLS
The South African bank joins the currency settlement utility, raising its membership to 64
CFTC's Massad commits to aggressive enforcement
Over the past two fiscal years, more than $4.6 billion in penalties have been imposed in 15 actions against banks and brokers to address benchmark misconduct
Tullett Prebon bets on OTC broking with Icap buy
Icap sells its global hybrid broking business to rival Tullett Prebon amid difficult market conditions
Abide Financial applies to become trade repository
The transaction-reporting firm may become the third-largest repository by volume; it also launches an accelerated Mifid II/Mifir compliance programme from January 2017
China launches direct trading between RMB/CHF
Swiss franc becomes the seventh currency to trade directly against the renminbi; HSBC gains approval to become a market-maker in the pair when it launches
TPP countries strike ‘unprecedented' deal against currency manipulation
The 12 member states of the Pacific free-trade deal sign a declaration vowing comprehensive disclosure of FX data; members will have to abide by rules against competitive devaluation
Rabobank snatches the top with spot-on calls
Rabobank sees the Fed increasing interest rates in December, with the Bank of England following in August 2016
Thomson Reuters integrates FX under single umbrella
Thomson Reuters is bringing all its pre-trade tools, trading venues and post-trade capabilities under FX Trading
Non-bank market-makers look to build customer franchises
Alternative market-makers aim to fill liquidity space left by reduced bank capital and move to connect with customers directly
Sell side's appetite for intelligence tools increases
As compliance inches to the fore, more large banks are reaching out to providers of cognitive learning tools
South Korea eyes panda bonds in China
Local media reports that Korean government has submitted formal request to Beijing following financial co-operation deal struck last week that also paved way for direct RMB/KRW trading
FSB finds fault with derivatives trade reporting
Despite large volumes of trades being reported, some authorities have restricted access to data, which is often low quality; some jurisdictions are experimenting with new analysis
All-to-all FX to become commonplace by 2017
The divide between historic tiers of liquidity is rapidly disappearing, shows research from financial consultancy GreySpark
JP Morgan and UBS compress FX books via start-up
NYC-based LMRKTS first broke cover two years ago; the third bank participant is unknown