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Latest

UniCredit Appoints Palmer to Head Up CEE Rates and FX

UniCredit has hired Warwick Palmer, former Bank of America Merrill Lynch emerging markets rates and currency trading head, as global head of rates and FX, CEE trading

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Banks Threaten to Stop Using Libor Benchmark

The American Bankers Association (ABA) says that some banks may stop using Libor as a benchmark for interest rates on loans because of new licensing fees being charged by Intercontinental Exchange

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FCA Starting FX Fine Talks in September - Report

The Financial Conduct Authority (FCA) is understood to be scheduling meetings with banks to negotiate potential fines related to claims of FX market manipulation, despite many firms still being unaware of what they will be charged with

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Traiana Launches Enhanced Matching Engine

Traiana has launched an upgraded version of its post-trade cross-asset allocation, matching and confirmation service for both buy- and sell-side firms

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CTA Data Shows Poor Performance in July

Commodity trading advisors (CTAs) suffered a difficult trading period in July, according to new performance data from Newedge

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Caplin Launches FX Mobile Trading App

Caplin Systems has launched an FX trading app for mobile devices

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China and Russia Sign Currency Swap Agreement…

The monetary authorities of China and Russia have agreed a national currency swaps arrangement, which will reduce reliance on the US dollar for bilateral payments

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…As BoC Extends RMB Clearing Hours to Cover Global Trading

The Bank of China’s clearing business in Hong Kong is extending its renminbi clearing service hours in October to cover US and European trading hours

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FXCM Deal with FXDD US Worth $4.4 million

It has emerged that FCXM’s May acquisition for FXDD’s US clients was concluded for significantly less than originally announced

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Gain Seeks Acquisitions to Counter Revenue Drop

Gain Capital is looking for new acquisitions to boost profits after reporting losses for the second quarter and first half of this year

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ATC Brokers to Launch UK FX Brokerage

ATC Brokers, a US-based introducing broker, will launch a Financial Conduct Authority-registered brokerage later this month in London

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TMX Group to Buy Microwave Network from GTS

Global Trading Systems has agreed to sell its ultra-low latency microwave network, StrikeNet, to TMX Group

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On the Move

Marex, Societe Generale, Tradovate…

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Tech Corner

A round up of the latest technology news…

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Around the World

Lots happening in the exchange world, and the Old Lady has a Plan B…

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And Finally...

News that we finally have movement in the rigging fiasco has to be welcome, even if that news is unlikely to be positive

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Banks Receive Enforcement Notices Over Rigging Claims – Report

Several banks involved in the allegations the FX market was rigged around the WMR Fix have received 15-day letters

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FSB Receives Mixed Response to Fixing Fee Proposal…

A recommendation by the Financial Stability Board that banks charge their clients a fixed fee or a bid-offer spread for currency “fixing” services has garnered a mixed response from asset managers and FX trade associations

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…While Industry Warns on Extending Fix Window

FX market participants critically support the Financial Stability Board’s (FSB) proposal for a wider fixing window at the WMR 4pm London Fix, but believe that this action on its own will not solve the antagonism between the buy and sell side

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Third party CLS market continues to grow despite CCP exits

CLS data reveals that engagement from third parties is growing despite the news that ICE Clear US (ICUS) has become the second major CCP this year to have its CLS agent bank discontinue settlement services.

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EBS Nabs 360T Man for Asia-Pacific

Simon Winn has joined EBS as head of sales for Asia-Pacific

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End-users Dominate OTC Derivatives Market: ISDA

The International Swaps and Derivatives Association (ISDA) has released a report claiming that end-users are now the primary participants in the OTC derivatives market

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And Another Thing...

As someone who likes to engage the industry in debate I always enjoy reading submissions on matters of critical importance – such as those opinions offered up over the FSB’s benchmark paper

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Lewis and Yoshida Depart State Street Amid Reshuffle

Cliff Lewis, head of eExchange and executive vice president of State Street Global Markets and Rodney Yoshida, CFO at State Street Global Markets, have left their roles at the company as Jeff Conway is named to lead data and analytics services for clients amid a reorganisation at the firm.

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