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EBS Appoints Head of G10

Industry veteran Bill Marsden has joined EBS in London as head of G10 currencies, according to an internal memo seen by Profit & Loss

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Citi Stands Out as Sole Change from ECB’s FXCG Members List

The European Central Bank’s FX Contact Group (FXCG) appears to have dropped Citi from its newly published members list in which the bank’s absence is the only change recorded

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HSBC Targeted By DoJ…

The US Department of Justice is investigating whether an HSBC employee may have leaked confidential information to a hedge fund

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…As Trader Dismissed, Swiss Targets Named

The fallout from the investigation into FX market practices continues with reports naming some of the traders targeted by the Swiss financial authority, Finma, in its investigation into events around the WMR Fix; and news that Bank of New York Mellon dismissed a trader earlier this year due to code of conduct breaches

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ISDA Report Advocates Greater CCP Transparency

The International Swaps and Derivatives Association (ISDA) has released a paper claiming that central counterparties should implement certain operational changes, including providing greater transparency around their ability to absorb a major default

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Icap Veteran Ferreri to Depart

Chris Ferreri is planning to leave Icap after more than 30 years with the brokerage, Profit & Loss understands

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And Another Thing...

Happy Thanksgiving Day to our American friends; the rest of you will be unsurprised to hear I am a little grumpy so today’s column has plenty of sarcasm and irony, and very few glad tidings

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New FX Consultancy Launches

Simon Jones, formerly global head of FX e-trading at Citi, has launched a new FX consultancy, PierrepointFX

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Exchanges Make Strategic Moves in NDF Trading

Exchange operators are working hard to strategically position themselves in response to the changing regulatory conditions of the non-deliverable forward (NDF) market, with Deutsche Börse acquiring a minority stake in R5FX and Nasdaq apparently preparing to launch listed non-deliverable FX contracts

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EBS Launches Third Platform, EBS Select

Icap’s electronic FX business EBS is planning to launch a third liquidity pool in early 2015 called EBS Select, in addition to EBS Market and EBS Direct, driven by the apparent growth in demand to trade anonymously

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BNP Paribas Moves FX Under New Global Markets Division

BNP Paribas has moved its FX business from its fixed income division to a newly created global markets unit, Profit & Loss has learnt

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Risk Continues to Shift from Banks to Buy Side

Empirical evidence that risk is moving out of the banks and towards the buy side is growing, according to market experts

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Has the SNB Been Intervening?

General weakness in the euro has brought the Swiss National Bank’s artificial 1.2000 floor in EUR/CHF fully into focus, with market sources reporting the central bank stands ready to purchase an unlimited quantity of euros to defend the floor

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BGC Continues GFI Chase

BGC Partners has extended its offer to acquire GFI Group

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CLS Volumes Hit 2014 Record Daily High

CLS has reported an average input daily value of $5.29 trillion, up year-on-year but down 10.9% from September’s record total of $5.94 trillion

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Omgeo Alert Attracts Investment Managers to FX SSI Service

Omgeo says that over 225 investment managers worldwide are now using Omgeo Alert for FX standing settlement instructions (SSI), with FX proving to be one of the strongest growing asset classes on the service in recent years

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Better Education Needed on Chinese Regulatory Change

With an increasing number of multinational corporates looking to use renminbi in their day-to-day business, banks need to step up their efforts in providing information and education to this sector regarding the latest rule changes being implemented by the Chinese regulators

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Managed Futures Benefitting From Shifting Central Bank Policies

The recent volatility witnessed in the equity markets, combined with the macroeconomic backdrop of divergent central bank policies, is highlighting the benefits of managed futures

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Advanced Markets Launches Anonymous FX Block Trading for Buy Side

Direct market access (DMA) solutions provider Advanced Markets has launched its Full Order Execution (Fox) block trading mechanism

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OptionsCity Software Buys Optionshop

OptionsCity Software has acquired futures trading technology provider Optionshop for an undisclosed sum

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Regulators Continue to Stake Claim in Bitcoin

The regulatory landscape for Bitcoin is becoming increasingly complicated with the Commodity Futures Trading Commission (CFTC) laying claim to jurisdiction over the virtual currency

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On the Move

Credit Suisse, Avadeo Capital, JP Morgan, Gelber, FIA, Calastone, Jefferies, R5FX, Stone Milliner, Nomura…

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Tech Corner

A round up of the latest technology news…

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Around the World

More RMB clearing hubs, Russia finally passes Forex Bill and concerns over Brazil…

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And Finally...In Memoriam

Sad news reached me over the weekend that Rita Saverino, known to many of us from her work in trading and e-commerce at Citi and Deutsche Bank, passed away last week

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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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