Month: June 2013

Singapore Raps Banks over Fixings

The Monetary Authority of Singapore has completed its investigations into benchmark rate fixings in the island state and has released a proposed regulatory framework to govern the process going forward. As part of the process, the MAS says that 20 banks and 133 traders have been found in breach of best practice and that it […]

EBS Unveils Aggregator Certification Programme

EBS has unveiled proposals for best practices relating to aggregation in FX markets, the EBS Certified Aggregation Partner Programme. EBS has set out its approach in a paper along with a series of program and certification guidelines aimed at ensuring that market users achieve the very highest level of best execution and transparency. The firm […]

And Another Thing…

As someone who has been a regular critic of the benchmark fixings, especially the 4PM London fix, readers may be expecting a resounding “hear, hear” following the Bloomberg report on “manipulation” of exchange rates. Well, sorry to disappoint you, but… My problem has long been with the process, not just of the 4PM fix but […]

September Launch for CME Europe

CME Group will launch its new London-based derivatives exchange, CME Europe, on 9th September, subject to regulatory approval. Created to expand and enhance CME’s client offering, the new exchange will initially offer trading in foreign exchange futures products as it acts as a competitive alternative to other exchanges in the region. The firm says that […]

FX Market Hit with “Manipulation” Claims

Traders at some of the largest global banks have manipulated the benchmark foreign exchange rates used to set the value of investments, say five senior dealers, according a Bloomberg News report. The traders have allegedly been front-running client orders and subsequently rigging the WM/Reuters rates by submitting trades before, and after, the 60-second trading windows […]

And Finally…

Ever since May 2010 I have had a favourite question at Forex Network conferences, “could we see a Flash Crash in the major FX markets? I stress “major” because friends on mine that still trade some emerging markets tell me my definition of a Flash Crash fits everyday activity in some regions! I may have […]

Around the World

Saxo Bank has unveiled Balanced Portfolio, an asset allocation strategy that allows traders to follow its progress on the firm’s platform and if desired duplicate the strategy themselves. The Balanced Portfolio is an ETF portfolio designed to collect risk premiums across liquid assets in various economic environments. Balancing the portfolio across different economies and asset […]

Tech Corner

Object Trading’s direct market access suite FrontRunner is now live with clients connected to the Dubai Gold and Commodities Exchange, and is available to provide direct market data and risk-managed trade execution. ABG Sundal Collier, a Nordic institutional brokerage firm, has chosen SunGard’s Front Arena to replace its former multi-vendor infrastructure for trade execution, order […]

On the Move

Fortunova Swaps Nomura for BNPP? Market sources say that Ralitza Fortunova has left her role as executive director, electronic markets at Nomura in New York. She is believed to be taking the role of head of e-FX sales for the Americas at BNP Paribas in New York. Fortunova joined Nomura in November 2009 (Squawkbox, December […]

MahiFX Adds Position Aggregator

Trading platform MahiFX has created a new range of platform trade viewing features and options to enable customers to trade more simply and efficiently by enabling them to monitor multiple open positions. The newly designed Position Book/Aggregation button gives traders the option to merge all open positions into one book. By selecting the merge to […]