Month: January 2013

And Another Thing…

The time has come for the foreign exchange market to clean itself up – no messing, no hesitation, no excuses. The only thing that has to be decided is “how?” It was reported this week by Reuters newswire that evidence had been uncovered in Singapore of FX dealers colluding over the fixing of rates for […]


Initial reports in Monday’s Squawkbox reported that CLS activity in 2012 dropped by 17% to $4.48 trillion per day. This should have read dropped by 1.7% from $4.78 trillion per day. P&L’s editor, who wrote the story, is giving himself a good talking to. In the January 14 issue of Squawkbox we reported on the […]

ACI Singapore Unveils More Speakers for World Congress

ACI Singapore, which will be hosting the 52nd ACI World Congress from March 14-16, has unveiled an extended list of confirmed speakers. The speakers now confirmed are: Bart Broadman, managing director of Alphadyne Asset Management David Clark, honorary president, ACI – The Financial Markets Association John Cryan, president-Europe, Temasek Holdings Anita Fung, CEO, HSBC Hong […]

CLS Releases Comparative Data for FX Surveys

To accompany the FX committee surveys on averge daily volume in the FX markets, CLS, the utility established to reduce settlement risk in FX markets, has released its comparative data for the months of October 2011, April 2012 and October 2012. The data cannot be compared directly as CLS does not cover all currencies, however […]

FX Turnover Continues to Decline

The latest round of FX committee surveys indicate that the decline in foreign exchange turnover seen in April 2012 accelerated in October 2012 and that activity is at levels last seen in October 2010. Across the four centres that reported data in October 2011, overall FX average daily volume declined 17.1% year-on-year. For the first […]

And Finally…

This week’s column is a mix of an observation on currency wars and a “come and get me” plea to CNN… It’s nice to know you’ve still got it. Was it only last week that I predicted a Sterling collapse? The landlord that closed my favourite watering hole has got a lot of explaining to […]

Tech Corner

ADS Securities has taken on monitoring and management services provider, Corvil, to monitor its new FX trading platform. The Abu Dhabi-based company will use the Corvil service for real-time monitoring and greater transparency of its trading infrastructure. The deal will see the company measure market data, order flow, quote-to-order latency and network measurements. Nasdaq OMX’s […]

Around the World

StanChart’s RMB Globalisation Index Up in November. The Standard Chartered Renminbi Globalisation Index (RGI) rebounded and hit a new high of 737 in November, up from 731 in October. The bank attributes the growth to three of the four RGI constituents, Dim Sum bonds and certificate of deposits outstanding, offshore deposits, and trade settlement and […]

On the Move

Nilsson Departs Citi Anders Nilsson has left his role as head of UK corporate sales at Citi in London. A spokesperson confirmed the departure but declined to comment further. Nilsson has been with Citi since 1998, serving in various FX sales positions. During 2007, amid a realignment of Citi’s foreign exchange business, Nilsson became the […]

New Global Payment Solution Features Currency Overview

Afex launched an enhanced version of its online payment platform, AfexDirect, which provides its SME client base with new tools for managing currency risk. The latest evolution features improved search and display options, the ability to schedule payments to beneficiaries directly from available funding balances and a consolidated overview of currency exposure to simplify international […]

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