Month: September 2012

LCH.Clearnet Expands ForexClear to Cover 95% of NDF Market

Clearinghouse LCH.Clearnet says it has expanded the range of currencies it can clear through its ForexClear service to cover 95% of the global non-deliverable forwards market. The 11 currencies it can clear are the Brazilian real, Russian rouble, Indian rupee, Chilean peso, Chinese yuan, Korean won, Colombian peso, Indonesian rupiah, Malaysian ringgit, Philippine peso and […]

Barclays Stockbrokers Launches Retail FX Platform with FXCM

Barclays Stockbrokers, the UK’s largest execution-only retail broker, launched on Thursday a retail foreign exchange trading platform, Barclays Margin FX, powered by US-based retail broker FXCM. The new platform will replace the BARXdirect FX platform that it developed four years ago in partnership with Integral Development Corp. From the clients’ perspective the migration to the […]

Morgan Stanley Joins FXSpotStream as a Liquidity Provider

Morgan Stanley has become a liquidity providing bank to clients of the nascent FXSpotStream, joining six other major foreign exchange dealers contributing their prices to the aggregation service. “The addition of Morgan Stanley as a liquidity provider is further testament to the compelling value proposition offered by FXSpotStream to its clients and liquidity providing banks. […]

ESMA Publishes CCP Guidelines

Following what it says are two rounds of consultation, the European Securities and Markets Authority (ESMA) has published its technical standards on the Regulation on OTC derivatives, central counterparties and trade repositories (EMIR), which set out the specific details of how EMIR’s requirements are to be implemented.  ? The EMIR framework aims to improve the […]

Court Overturns CFTC Position Limits Rule

In a blow to the CFTC’s efforts to impose a new regulatory framework, the US District Court for the District of Columbia struck down the CFTC's position limit rule, which was scheduled to go into effect on October 12. The court ruled in favor of the plaintiffs – the International Swaps and Derivatives Association and […]

And Another Thing…

The unintended consequences of regulation – part 713. I have in the past argued that the regulators, especially in the US, need to take a more global view and understand the impact of what they are doing. I raise this (again) because of some quite fascinating stories emanating from regional Asian centres. My sources in […]

EBS Expands Product Team

Icap’s EBS has appointed Eisso VanderMeulen to lead its product development initiatives, reporting to Nichola Hunter, global head of product management. Based in New York, VanderMeulen’s initial focus will be on EBS’s global credit management offering. He joins from Newedge’s prime brokerage origination and structuring team where he led the effort to create an FX intermediation […]

FX Concepts Acquires

FX Concepts, a New York-based currency-only hedge fund founded by John Taylor, has bought, a niche research provider focused on macro markets, for an undisclosed sum. will operate as a wholly owned subsidiary of FX Concepts and will broaden the hedge fund’s research platform. Taylor, chief executive officer of FX Concepts, says the […]

And Finally…

As someone who has been known to give strategists some stick in the past, I, with no little irony, have a request to make of them. We are currently being bombarded with headlines of “currency wars”, exacerbated, no doubt, by the impending US election in the US media (in the US media at least), but […]

Around the World

A joint government study has found a monetary union between New Zealand and Australia is not a practical option given the countries’ political and economic differences. The report, released by the Australian and New Zealand Productivity Commissions last Tuesday, said the costs of a monetary union with a common currency and monetary policies outweighed the […]