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Week Beginning 20th July 2014

Esma Proposals Could Mean Mandatory FX Clearing Is At Least Two Years Away

21st July 2014
The European Securities and Markets Authority has proposed a phased-in approach for OTC clearing, which Profit & Loss understands could mean that mandatory FX clearing will not be introduced until the end of 2016, or even later

Traiana Extends Kill Switches to SDPs

21st July 2014
Traiana has extended the scope of its CreditLink service to include a kill switch capability for single dealer platforms in FX trading

Phizackerley to Fill Smith’s Shoes at Tullett

21st July 2014
Interdealer broker Tullett Prebon has appointed John Phizackerley, a former executive at Nomura, as an executive director and CEO, with effect from 1 September

MAS to Phase in Obligatory Reporting of FX Derivatives Contracts

20th July 2014
The Monetary Authority of Singapore has published draft amendment regulations to phase in reporting for foreign exchange derivatives contracts booked in Singapore by banks on 1 April 2015

FXCM Fined by NFA

20th July 2014
The National Futures Association has ordered Forex Capital Markets to pay a $200,000 fine

Three Depart Commerzbank, Including Global Head of EM FX

20th July 2014
Abnash Grewal , global head of emerging markets FX and Rates trading with Commerzbank, has left Profit & Loss understands

ITG Launches FX Trading Cost Index Application

20th July 2014
ITG has launched the ITG FX Trading Cost Index Application, a new tool designed for foreign exchange traders and portfolio managers

Study Finds Global Asset Managers’ Operations Under Pressure

20th July 2014
Asset managers and asset servicers are struggling to manage new levels of pressure on their middle- and back-office operations, according to a survey by Aite Group and SunGard

O’Malia: Are We Doing More Harm than Good?

20th July 2014
As the fourth anniversary of the signing of the Dodd-Frank Act approaches, Commodity Futures Trading Commissioner Scott O’Malia expresses concerns

BRICS Launch New Bank and Monetary Fund

20th July 2014
The creation of the BRICS Contingent Reserve Arrangement (CRA) and the New Development Bank (NDB) were officially announced at the BRICS summit in Brazil last week

FXSpotStream Continues to Break Volume Records

20th July 2014
FXSpotStream has announced record trading activity for the month of June, however it did not disclose actual volume numbers

Bitcoin Gets Regulated

20th July 2014
Financial regulators in New York have published a draft set of rules for regulating virtual currencies

Boston Technologies Merges with Forexware

20th July 2014
Forexware and Boston Technologies have announced the merger of their two business operations

Gain Capital Buys New Patent and Software Assets

20th July 2014
Gain Capital acquired patent and software assets from Valaquenta and Forexster via its subsidiary GTX Bermuda on July 10, a SEC filing shows

On the Move

20th July 2014
Goldman Sachs, Pioneer Trader, FIA, AFEX, Glief, Tradable…

Around the World

20th July 2014
A rebrand…

Tech Corner

20th July 2014
A round up of the latest technology news…