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Latest

Industry Concerns Push European Commission into FX Definition Consultation

The European Commission (EC) has launched a public consultation into the definition of FX spot and forward contracts, some two months after the start of mandatory trade reporting revealed different interpretations of the requirements were adopted by various member states

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Thomson Reuters Matching Experiences Sunday Outage

Thomson Reuters Matching experienced a global disruption on 13 April because of a technical fault

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Global Head of Spot FX departs Lloyds…

Darren Coote has left Lloyds Bank, having resigned from his position as global head of foreign exchange spot trading

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…As Ringland Joins to Head Up Financial Markets Digital

Conor Ringland will join Lloyds Bank as MD and head of financial markets digital based in London, sources close to the bank tell Profit & Loss

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BNP Paribas Joins FXSpotStream as Liquidity Provider

FXSpotStream has announced that BNP Paribas has joined as a new liquidity providing bank to FXSpotStream’s clients

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And Another Thing...

The extended weekend in the UK, where I currently sit, allied to thinking even more muddled than usual due to jet lag, means this column is taking a break and will return after Forex Network London – apparently I have to ask some questions there! In the meantime please be sure to register your vote in the Peoples’ Choice FX Awards – the FoXys – and for the 2014 Hall of Fame. Plenty of votes are coming in already but there is still time to register your voice.

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BaFin Authorises Eurex Clearing Under EMIR

The German national competent authority, BaFin, has approved Eurex Clearing as a clearing house in accordance with the European Market Infrastructure Regulation

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Deutsche Bank Finds Inappropriate Communication With Singapore Central Bank…

The Monetary Authority of Singapore (MAS) has become the second central bank to be drawn into global investigations of alleged FX manipulation

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…and Considers Cutting Another 500 Investment Banking Jobs

Deutsche Bank is planning to eliminate a further 500 jobs from its FX trading, bond and corporate finance units in the next few months, coinciding with a slow start to the year for its investment bank

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New Zealand FX Probe Triggered By Whistleblower

The New Zealand Commerce Commission says its investigation into alleged manipulation of the FX market was sparked off by a whistleblower seeking immunity under the terms of its cartel leniency policy

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New Head of FX at TD Bank

Michael Gibbens, head of foreign exchange at Toronto-Dominion Bank, is leaving the company

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More Volume Reports Indicate Busier March; CNH Helps Reuters

Average daily volume in the foreign exchange market edged up by 0.4% in March and the value of trades rose by 3.9% to $5.35 trillion, data from FX settlement system CLS shows

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Asia-Pacific Buy Side Unprepared for OTC Derivatives Clearing Regulations – Report

Buy side firms in the Asia-Pacific region are largely unprepared for the future complexity of OTC derivatives central clearing regulations in the region, according to research

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OTC Derivatives Offer More Effective Hedging Than Exchange-Traded...

The International Swaps and Derivatives Association (ISDA) has published the findings of a study which gauges the likely impact on publically traded non-financial firms if they were unable to use OTC derivatives for hedging purposes

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…As Survey Highlights Collateral’s Role in OTC Markets

Meanwhile, in another survey ISDA illustrates the importance of collateral in the swaps market, showing that 91% of all OTC derivatives trades were subject to collateral agreements at the end of 2013

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FIA Launches SEF Tracker

The Futures Industry Association (FIA) has launched SEF Tracker, a periodic report on the trading activity taking place on swap execution facilities

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Integral Provides Boost to Gleneagle’s Global Prime Platform

Gleneagle Securities has added additional functionality to its margin FX platform, Global Prime, by using Integral’s cloud-based service suite

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TraderTools Receives Expansion Capital Boost

FX trading platform provider, TraderTools, has received a follow-on investment led by Edison Ventures

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Icap Adds AUD to iSwap

Icap says it has added Australian dollar interest rate swap products to its i-Swap platform

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On the Move

Saxobank, ISDA, Contango Markets, Deutsche Bank

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Tech Corner

A round up of the latest technology news…

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Around the World

Another currency supported, more time to trade Indian derivatives and some merger activity in Canada…

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And Finally...

It can be difficult discussing the approach to technology at lower tier banks – not because they do anything particularly difficult, more because so many get insulted by referred to as “lower tier” or a tier with any number in it apart from “one” or “two

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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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