Month: April 2012

Markitserv Connects with Swift for FX Clearing

Markitserv, an electronic trade processing service, has partnered with financial messaging provider Swift to deliver trades from Swift to central clearing counterparties via the MarkitServ FX clearing gateway. The connection will allow more than 10,000 financial institutions and corporations to deliver trades – initially foreign exchange non-deliverable forwards transactions – for clearing.  Under the terms […]

Barclays Global FX Leader: Greenwich Associates

Barclays has been ranked the leading bank in the foreign exchange market in terms of market share by independent research company Greenwich Associates. The top tier of global FX dealers includes six banks: Barclays, Deutsche Bank, Citi, UBS, HSBC and JP Morgan. These banks comprise the 2012 Greenwich share leaders in global foreign exchange. According […]

Winners of Profit & Loss Digital FX Awards Announced

Profit & Loss unveiled the 2012 Digital FX Awards winners at a dinner and ceremony last night, with Barclays winning the Best Platform award for Barx – the fifth time it has won the top category. Barclays carried away four awards in total including Best Rates Platform, Best Emerging Markets Platform and Best Structured Products […]

And Another Thing…

It was only a few weeks ago that I opined on the change at the top of EBS; roll forward that time and we have change at the top of another major institution in our industry – CLS. The circumstances behind the departure of CEO Alan Bozian are a little sketchy, but several sources suggest […]

Market Reaction Positive to Widening Daily Yuan Band

The People’s Bank of China last weekend increased the range in which the yuan is allowed to trade against the US dollar from 0.5% to 1% on either side of a daily rate set by the central bank. The move is targeted towards meeting market demands, promoting transparency, and enhancing the flexibility of the renminbi […]

Hartsink Steps in as Interim Chairman of CLS as Bozian Departs

Gerard Hartsink is set to take on the role of interim executive chairman at CLS Group as chief executive officer Alan Bozian leaves the organisation. In this new role Hartsink will be responsible for the day-to-day operations and management of CLS. Bozian joined the currency settlement provider in 2010, assuming the top role from Rob […]

Forex Network – Next Stop: NYC

Hot on the heels of Forex Network London, Profit & Loss takes the next in its Forex Network series to New York on May 31 at the Crowne Plaza in Times Square, opening with an update from Washington. Throughout the day, panellists will delve into such topics as: how the US can protect its position […]

Winners of Profit & Loss Digital FX Awards Announced

Profit & Loss unveiled the 2012 Digital FX Awards winners at a dinner and ceremony tonight, with Barclays winning the Best Platform award for Barx – the fifth time it has won the top category. Barclays carried away four awards in total including Best Rates Platform, Best Emerging Markets Platform and Best Structured Products Platform. […]

And Finally…

My debate with several readers over the opinions expressed herein regarding platforms over the past few weeks continues unabated and has led me to draw certain conclusions. Paramount among these, and what I wish to discuss today, is that all platforms need to understand the new “normal”. This means that the days (or months to […]

Tech Corner

Russian stock exchange Micex-RTS is set to provide foreign bankers with direct access to trading from London. The development will be introduced as Russian subsidiaries prefer trading via their London offices, according to a member of the Micex-RTS executive board, Vagan Vardanyan. Foreign exchange brokers are currently allowed to trade on the Russian stock exchange […]