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FSB Said to Back Five-Minute WMR Fixing Window

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

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UK Consults on Extending Libor Laws to Currency Markets

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

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Vos Moves to Head Deutsche Bank FX in North America

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

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Gulf Narrowing Between Best and Worst Hedge Funds

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

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Citi’s Global Head of FX Services Departs

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

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Deutsche Launches FX Commodity Indices

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

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European Head of Spot FX Leaves Goldman Sachs

Mitesh Parikh, European head of spot FX for Goldman Sachs, has left the bank

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FXDD Fined by CFTC

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

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Global Payments in RMB Triple in Value

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

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FIA Global Launches Guide to Clearinghouse Rules

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

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Thomson Reuters and Markit Boost Messaging Service

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

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B-Next Launches FX Fix Monitoring System

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

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FXCM New Pricing Model to Reduce Trading Costs

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

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On the Move

HSBC, BAML, Newedge, Lombard Risk…

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Tech Corner

A round up of the latest technology news…

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Around the World

MOU’s, approvals, regional expansions, and developments in Bangladesh and India…

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And Another Thing…

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

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FXPA Launches, Promises Advocacy and Education

Today (25 September) marks the official launch of the Foreign Exchange Professionals Association (FXPA), a new trade body uniquely comprised of a cross-section of FX industry participants

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KCG Launches New FX Dark Pool

KCG Holdings has announced the launch of Hotspot QT, a new dark pool designed for firms needing to trade large spot FX orders

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FSB Looks to Aggregate Global OTC Trade Repository Data

The Financial Stability Board has put forward proposals to build a single centralised repository to bring together data on trades for over-the-counter derivatives worth a notional $710 trillion

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CFTC Chairman Timothy Massad to Deliver Keynote Address at SEFCON V

Timothy Massad, chairman of the US Commodity Futures Trading Commission, will deliver the keynote address at SEFCON V, the Wholesale Markets Brokers’ Association, Americas (WMBAA) fifth annual conference

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CFTC Criticised for Rigid Approach to Global Swaps Rules

On the fifth anniversary of the Pittsburgh G-20 Summit, which agreed the “Framework for Strong, Sustainable and Balanced Growth”, the Commodity Futures Trading Commission (CFTC) has come under fire for its uncoordinated approach to regulation of swaps trading, which many believe has led to greater liquidity fragmentation

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And Another Thing...

The start of Forex Network Chicago means this will be brief, but I thought I would relate a conversation I had earlier this week in Chicago with a very experienced trader

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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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