George Bernard Shaw is widely attributed with the comment that the English and Americans are two peoples separated by a common language, but the fact is language can very easily take on a different meaning in print than was originally intended when it was spoken or typed. The FX industry has not been taking enough care over the language it uses in communications and that is bait for underperforming clients trying to make a few extra bucks and lawyers sensing an easy kill.
This week represents your last chance to tell us what you think about a variety of data-related topics from TCA to data mining, as our quarterly survey closes on Thursday.
The role of data in FX markets is becoming even more important, from the numbers that drive a pricing engine, through the analysis that underpins the risk management procedures, to the data that provides post-trade execution analysis, it is now, more than ever, at the heart of the FX industry.
The current buzzwords are “AI” and ‘machine learning” – barely a day goes by without receiving a missive about yet another “ground-breaking” initiative, most of which appear to be nothing new, it’s just the PR managed to crowbar the words in there. Without doubt, though, firms are looking at this technology and, in some cases actually deploying it, which begs the question – who do we blame if the machine goes rogue? And who is the John Connor of FX?
State Street is reshuffling senior FX staff, with James Reilly being appointed as the global head of Currenex and Beverley Doherty as global head of FX Connect. As a result, David Newns, formerly head of Currenex and SwapEx, will now take on the newly created role of global head of GlobalLink Execution Services.
Additionally, Stephen Dispenza has been promoted to global head of sales for Currenex, reporting to Reilly. Dispenza previously served as North American head of sales for the platform.