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Week Beginning 26th July 2015

360T Purchase Part of New Growth Program: Deutsche Boerse CEO

29th July 2015
Deutsche Boerse, the German exchange group that recently agreed at deal to purchase the OTC FX trading platform 360T, has announced an ambitious growth program amid second quarter results that showed its revenue was up nearly 20% from the first quarter

FXPA Meets with Regulators, Policymakers in Washington

29th July 2015
Members of the Foreign Exchange Professionals Association (FXPA) spent two days in Washington DC last month meeting with senior members of the Federal Reserve, US Treasury and Commodity Futures Trading Commission (CFTC), as well as held a series of educational briefings for Congressional staffers on such key committees as the House Financial Services Committee, both the House and Senate Agriculture Committees, and the Senate Banking Committee

LME Clear Launches New Renminbi Initiative

29th July 2015
LME Clear, the clearing house for the London Metal Exchange (LME) market, will now accept offshore renminbi (CNH) as eligible cash collateral

RBC GAM Unveils EMFX Fund

29th July 2015
RBC Global Asset Management has announced the launch of the RBC Emerging Markets Foreign Exchange Fund

FSB Wants More Done on Benchmarks

29th July 2015
Firms still have to do further work to identify the full range of their benchmark activities and improve their management of the associated risks according to the Financial Conduct Authority’s thematic review of oversight and controls of financial benchmarks published today

FX Committee Surveys Shows Divergence in Trading Activity

28th July 2015
The turnover survey results released by the Foreign Exchange Committees around the world show little by way of unifying trends with regards to FX trading activity in April 2015

Turnover Data Reveals Drop in e-Ratios, Surprising Leap in Voice

28th July 2015
The latest round of FX committee turnover surveys indicates an accelerating decline in the share of volume handled electronically

Mihocko-Tierney Leaves BAML

28th July 2015
Jen Mihocko-Tierney has left her position as head of e-solution sales at Bank of America Merrill Lynch

Manulife Asset Management Appoints Head Currency Trader

28th July 2015
Manulife Asset Management has hired Jason Fromer as managing director and head currency trader, a new position at the firm

UBS Sees FRC Revenue Drop in Q2

28th July 2015
UBS has become the latest bank to report a pullback in earnings from its financial markets business as volatility dampened in Q2

EBS BrokerTec Integrates My Treasury

28th July 2015
EBS BrokerTec has combined MyTreasury into its product portfolio bringing FX into the corporate treasury-orientated business

BIS Establishes FX Working Group to Strengthen Code of Conduct Principles

27th July 2015
A Foreign Exchange Working Group (FXWG), announced by the Bank for International Settlements (BIS) governors in May to strengthen code of conduct standards and principles in foreign exchange markets, has now been established

ParFX to Introduce Decimalised Pricing, CNH Trading

27th July 2015
The founder banks of ParFX have mandated that the electronic trading platform introduce decimalised pricing on a range of currency pairs

FSB Report Outlines Progress on G20 Derivatives Reforms

27th July 2015
The Financial Stability Board (FSB) has published a report stating the implementation of the G20-mandated OTC derivatives market reforms is well underway and that the foundational authority needed to give effect to the full range of these reforms is in place in most FSB member jurisdictions

State Street Reports Y-o-Y FX Revenue Rise…

27th July 2015
State Street has reported a year-on-year revenue increase from foreign exchange trading, although quarter-on-quarter revenue dropped

…While Uncertainty over Greece Hits Credit Suisse FICC Revenue

27th July 2015
Following the pattern of its Wall Street rivals, Credit Suisse’s fixed income sales and trading business, which includes foreign exchange, was down in the second quarter, hit by ongoing uncertainty over Greece’s relationship with its European creditors

Dalton Joins RJ O’Brien as Head of FX

27th July 2015
Tony Dalton has joined RJ O’Brien in New York as head of FX

Harris to Join EBS-BrokerTec?

27th July 2015
Phil Harris is rumoured to have taken a senior FX role at EBS-BrokerTec

On the Move

27th July 2015
LMAX Exchange, IG Group, RenCap securities, DTCC…

Around the World

27th July 2015
Exchanges sign MoUs, China to widen trading range against the US dollar, and more RMB products…

And Finally...

27th July 2015
Normally around this time of the year I announce this column will be taking a break and leave you with a prediction – often something along the lines of “markets will get busier”

Deutsche Boerse to Acquire 360T

26th July 2015
Deutsche Boerse AG has today announced that it will buy Frankfurt-based 360T’s FX trading platform.