Month: August 2012

Asian Regulators Seek Greater Clarity from CFTC

In a rare move, five Asian regulators have sent a joint open letter to the US Commodity Futures Trading Commission asking it to review proposed rules on over-the-counter derivatives trading, pointing out the potential for conflict with domestic rules and the risks of systemic instability. Non-US banks that trade with US counterparties are expected to […]

Last Chance to Register – G20 Regulations: Restricting Risk or Restricting the Market?

Don’t miss the opportunity to listen to our expert panellists as they discuss upcoming OTC derivatives trading regulations in a live webinar hosted by Thomson Reuters and Profit & Loss on Wednesday 5 September at 4pm BST (11am EST). In September 2009, the G20 published a set of reformatory commitments to address the concerns raised […]

Forex Network Chicago: Join 300 of Your Peers Who Have Already Registered

With five weeks to go until Profit & Loss Forex Network Chicago, 300 delegates have already registered to attend the FX industry’s biggest event of the year. Join us September 27-28 at the Swissôtel Chicago for two days of in-depth discussions and interactive panel debates covering the latest technology and trends in the FX industry. […]

And Another Thing…

Increasingly over the past few years we have heard much about what FX can learn from equities. Whilst I fully accept many of the “lessons” put forward, I still cannot bring myself to agree that the FX market’s future lies in the current state of the equities market. A good example of why I think […]

Around the World

It's a strange thing the US legal system.  Chief executive of bankrupt Peregrine Financial Group, Russell Wasendorf Snr., has pleaded not guilty in response to charges that he lied to federal regulators over a long-running fraud including the falsification of financial statements and over $200 million in missing client funds. The offences carry a maximum […]

Tech Corner

TMX Atrium has invested in a low latency connectivity route from Moscow to Stockholm. The connectivity path has been established to provide a faster access route to the Russian market, allowing trading firms to utilise foreign exchange and derivatives trading and arbitrage opportunities between data centres. The infrastructure services firm’s Moscow-based access point provides firms […]

On the Move

Durcan Leaves RBS for Nomura James Durcan last week (20 August) joined Nomura as a EUR options trader in London, reporting to Stephane Gaillard, executive director and head of EUR FX options. Durcan was most recently at the Royal Bank of Scotland, also in London, where he served as a EUR vanilla options trader. He […]

Monex Europe Acquires Tempus

Commercial foreign exchange and payment company, Monex Europe, has acquired Tempus in the UK and Spain from parent company Monex Group. The acquisition will see Monex Group merge its FX business arms under the Monex Europe brand, recently formed when Monex acquired Schneider Foreign Exchange in a deal worth approximately $100 million, as it focuses […]

LeapRate Retail FX Volume Index Down 10.5% in July

LeapRate’s Retail FX Volume Index, a monthly measure of global trading activity in the retail FX sector, fell by 10.5% in July to $175 billion from $196 billion per day in average daily trading volume during June. July’s figures were the second lowest result in 2012 so far, after April’s $172 billion. Gerald Segal, LeapRate […]

DTCC and Swift Launch Web Portal: CICI

The Depository Trust and Clearing Corp. and Swift last week launched a web portal to assign CFTC interim compliant identifiers (CICI), after being designated to undertake the project by the Commodity Futures Trading Commission. The portal will be able to issue identifiers to firms undertaking over-the-counter derivatives trading and will comply with the global framework […]