Feature/Wholesale
The ‘Cartel’ three: not guilty, but still paying a penalty
Despite their acquittal, the former FX traders face obstacles in trying to rebuild their careers – meaning the DoJ didn’t fail, says one expert
Farewell to self-regulation, goodbye self-policing
With a global code of conduct for FX due in May 2017, participants are only too keen to see the back of an unregulated market
FEMR responses show split on last look debate
Market participants are split on how and if last look practices should be regulated
Tail risk cheap, but few takers
Market dislocation has created attractive tail risk hedging opportunities, but demand is failing to take off, writes Joti Mangat
Regulatory fears will boost offshore markets
Offshore markets to gain from regulatory arbitrage
FX prime brokers adjust pricing
The financial crisis has caused foreign exchange industry executives to take a wide variety of steps to adjust to changing circumstances.
Algo FX: the battle for market share
Algorithmic trading in foreign exchange is tipped to experience continued growth, but the uptake is not without its obstacles. Susanna Robinson reports
FX and DX: volatility events and the bid-ask spread
Charles Wright suggests a rational means for adjusting the bid-ask spread to compensate for the uncertainty associated with routine event-driven conditions
Mifid: the final countdown
Those that haven't firmly addressed their execution policy must take action, says Chris Pickles , chair of the directive's Joint Working Group in London
Mifid and forex in a nutshell
The Markets in Financial Instruments Directive is placed under the microscope by Richard Hartheimer , managing director at Currenex, Europe in London
How Mifid affects the global FX market
Mifid will create an even more efficient market for FX services that can be delivered quickly, inexpensively and globally, says Chris Pickles , chair of its Joint Working Group in London
A quick fix for Mifid
Sell-side firms must adopt the FIX protocol or lose out, warns Chris Pickles , chair of the directive's Joint Working Group in London
Mifid – a commercial opportunity
The commercial opportunities Mifid presents to the foreign exchange dealer are examined by Chris Pickles, chair of the directive's Joint Working Group in London
Mifid explained – an introduction
Chris Pickles, chair of the Mifid Joint Working Group in London, discusses the implications of the directive on foreign exchange
November 2006 - RBS and JP Morgan scale back prop trading
LONDON & NEW YORK – November saw mixed fortunes for FX traders. Just as volatility returned to the market, two major banks made cuts to their prop trading desks.
April 2006 - Icap purchase of EBS completed for $775m
LONDON – In mid-April, Interdealer broker Icap agreed to a deal that saw it acquire electronic forex heavyweight EBS. The deal saw Icap pay $775 million for EBS Group, with a share alternative option for EBS shareholders to switch a third of their cash…
January 2006 - Acquisitions in e-FX take precedence
LONDON – The year started with a bang with two high-profile acquisitions in the electronic trading space.
February 2006 - BoA builds algorithmic forex capabilities
CAMBRIDGE, MASSACHUSETTS – Bank of America (BoA) took a major step towards building up its algorithmic trading capabilities in the FX space, with the acquisition of algorithmic-driven pricing and trading specialist, Financial Labs.
March 2006 - FXCM abandons Refco negotiations
NEW YORK – Forex Capital Markets (FXCM) abandoned negotiations with Refco creditors to acquire the assets of the defunct brokerage's unregulated currency trading operation.