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Week Beginning 25th January 2015

Currency Trading Hits New Highs in UK and US: FX Committee Surveys

27th January 2015
Foreign exchange trading activity in the UK and US rose to record levels in October, reports from the nations’ central bank FX committees show, on the back of increased volatility that was largely triggered by a divergence in monetary policies

FX Head to Retire From BNY Mellon

25th January 2015
Craig Messinger, global head of trading and risk at BNY Mellon in New York, is set to retire, Profit & Loss understands

NFA Raises Retail FX Margins Following Currency Volatility

25th January 2015
The National Futures Association (NFA) has increased the minimum security deposits for certain FX currencies in the retail market following the volatility witnessed after the Swiss National Bank's decision on 15 January

Commerzbank to Relocate Traders from London to Frankfurt…

25th January 2015
Commerzbank has proposed to relocate 70 foreign exchange and interest rate traders from London to Frankfurt

...As Hamberger Leaves

25th January 2015
Stefan Hamberger, managing director and head of e-fixed income and currency (FIC) sales at Commerzbank, has left the firm

Swiss Banks Calm Fears of Losses from SNB Move

25th January 2015
UBS did not suffer any losses overall in its trading business after the Swiss National Bank’s (SNB) decision to abandon its currency cap, the bank said on Friday

Prasad to Launch Macro Hedge Fund in April

25th January 2015
Anil Prasad, the former global head of foreign exchange at Citi, is preparing to launch his own macro hedge fund in early April

Brokers Confirm Interest in Alpari UK

25th January 2015
Oanda, ETX Capital and IronFX have made bids for fellow retail foreign exchange broker Alpari UK, which applied for insolvency last Monday, according to sources

France and Austria Attempt to Push Forward on FTT

25th January 2015
France and Austria have joined forces to urge the other nine European countries committed to a Financial Transaction Tax (FTT) to overcome an ongoing impasse

FastMatch Publishes Fee Schedule

25th January 2015
In a move it claims to be a first, FX ECN FastMatch has published its fee schedule for trading on the platform

Banks Report Rebound in FX Revenues

25th January 2015
BNY Mellon and State Street, the two largest custody banks, have reported a boost in Q4 profits due to an increase in volume and volatility in the foreign exchange markets

CAD Declines Following Surprise BoC Rates Cut

25th January 2015
The Bank of Canada (BoC) lowered its overnight rate last week, causing a sharp decline in the value of the Canadian dollar

Report: Liquidity Declining in Fixed Income Markets

25th January 2015
Dealers are pulling back from the fixed income market as a result of more stringent capital requirements, causing a decline in market liquidity, according to a new report

ECB QE Hits FX Markets; EURUSD Plunges to 11-Year Low

25th January 2015
The euro set a fresh 11-year low versus the dollar following the European Central Bank’s landmark decision to pump more than €1 trillion into the flagging European economy, a figure higher than most experts predicted

UK MPs Question Thoroughness of FX Probe

25th January 2015
UK MPs have questioned the diligence of the probe into manipulation in the FX market conducted by Anthony Grabiner, the lawyer who was appointed by the Bank of England’s Oversight Committee to lead an independent investigation

CLS Teams Up With TriOptima on FX Compression Service

25th January 2015
CLS Group and TriOptima are to collaborate on a new FX forward compression service

Thomson Reuters Reports End of Year FX Volumes

25th January 2015
Thomson Reuters has exhibited a similar pattern as other FX platforms, showing an overall growth in FX volumes across its platforms year-on-year

Regulators Likely to Extend Swap Margin Requirements Deadline

25th January 2015
Global regulators have indicated that the end of the year deadline for the introduction of margin requirements for swaps transactions is likely to be extended

FXCM Updates FX and CFD Trading Volumes for January

25th January 2015
One week on from its bailout deal with Leucadia and FXCM is reporting month-to-date volumes of $406 billion in FX and CFD trading

ESMA and Hong Kong SFC Sign MoU on CCP Equivalence

25th January 2015
The European Securities and Markets Authority (ESMA) and the Hong Kong Securities and Futures Commission (SFC) have signed a memorandum of understanding (MoU) to allow Hong Kong central counterparties to be recognised by the European regulator

Newedge CTA Index Finishes +15.58% for 2014

25th January 2015
The Newedge CTA Index finished 2014 showing a return of +15.58% following the fifth consecutive month of positive returns for the managed futures industry

On the Move

25th January 2015
UBS, Newedge, Maven Global, Union Bancaire, BAML, Credit Suisse, Dion Global, ISDA…

Tech Corner

25th January 2015
A round up of the latest technology news...

And Finally...

25th January 2015
Any time there is a market event, it is used by people for their own ends. It happens, but it is not particularly helpful at a time when we may need serious, open-minded and honest debate over what happened