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Week Beginning 28th September 2014

FSB Said to Back Five-Minute WMR Fixing Window

28th September 2014
The proposal for widening the WM/Reuters 4pm London fixing window to five minutes has been broadly accepted at the Financial Stability Board (FSB) plenary meeting in Cairns, according to industry sources

UK Consults on Extending Libor Laws to Currency Markets

28th September 2014
Traders who manipulated currency, gold and other key benchmarks could be handed the same huge fines or jail sentences as those who rigged Libor, under new UK government proposals to tackle market abuse

Vos Moves to Head Deutsche Bank FX in North America

28th September 2014
Deutsche Bank has appointed Adam Vos as head of foreign exchange in North America to replace David Wayne

Gulf Narrowing Between Best and Worst Hedge Funds

28th September 2014
The gap between the best and worst performing hedge funds has narrowed during the first half of 2014, according to BlackRock’s analysis of the hedge fund industry

Citi’s Global Head of FX Services Departs

28th September 2014
Stephane Knauf, global head of FX services and products at Citi, has left the bank

Deutsche Launches FX Commodity Indices

28th September 2014
Deutsche Bank has launched its FX Commodity Indices to track the average price of commodity exports for Australia, New Zealand and Canada

European Head of Spot FX Leaves Goldman Sachs

28th September 2014
Mitesh Parikh, European head of spot FX for Goldman Sachs, has left the bank

FXDD Fined by CFTC

28th September 2014
The US Commodity Futures Trading Commission has hit retail FX broker FXDD with a $600,000 fine for failing to adhere to CFTC regulations prior to it pulling out of the US market

Global Payments in RMB Triple in Value

28th September 2014
Renminbi payments worldwide have nearly tripled in value over the past two years, according to the latest RMB Tracker report from financial messaging service Swift

FIA Global Launches Guide to Clearinghouse Rules

28th September 2014
Futures industry association FIA Global has unveiled a new guide to the rules of central clearing counterparties to help clearing members and end users navigate the changing landscape of regulatory and capital requirements

Thomson Reuters and Markit Boost Messaging Service

28th September 2014
Markit has integrated the industry’s first vetted, cross-network directory for open messaging with Thomson Reuters Eikon Messenger

B-Next Launches FX Fix Monitoring System

28th September 2014
Trading surveillance vendor B-Next has launched CMC: Benchmark Fixing Analysis, a system the company claims helps identify suspicious trading activity at the time of the fix

FXCM New Pricing Model to Reduce Trading Costs

28th September 2014
Retail brokerage firm FXCM has introduced a new pricing model for its US subsidiary, which displays “raw” FX spreads and commission costs separately

On the Move

28th September 2014
HSBC, BAML, Newedge, Lombard Risk…

Tech Corner

28th September 2014
A round up of the latest technology news…

Around the World

28th September 2014
MOU’s, approvals, regional expansions, and developments in Bangladesh and India…

And Another Thing…

28th September 2014
Although the subject was not discussed too often during the panel sessions at Forex Network Chicago, conversations on the sidelines clearly highlighted how the subject of last look continues to vex many in the industry