Month: December 2013

Volcker Rule is Finalised but Regulators Remain Divided

On Tuesday December 10 five US Federal agencies issued the final rules for implementing section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, or as it is more popularly known, the Volcker Rule. The final rules prohibit insured depository institutions and companies affiliated with insured depository institutions (banking entities) from engaging in […]

Integral to Offer Benchmark Product

Integral Development has reacted to the ongoing uncertainty in the FX industry surrounding the 4PM fix by releasing its own product, Integral FX Benchmark. The new products offers what Integral claims is a “first of its kind” set of second-by-second benchmark rates for major currency pairs, and is the result of joint research work with […]

And Finally…

The analysis that accompanies the final tables of the BIS Triennial survey makes for some interesting reading, however I do think it possible to come to the wrong conclusions when looking at the likely impact on the market structure. At face value, the excellent analysis highlights the reduced role of the Dealer (in survey speak […]

Tech Corner

CQG has expanded its product offering with the addition of CQG M, which provides traders with market data and trade execution capabilities on the go. The mobile application leverages CQG’s infrastructure and systems to deliver mobile scenarios with data feeds and execution. CQG M utilises HTML5, which allows traders to access CQG data on tablets […]

On the Move

Citi Hires Donnelly? Market sources say that Martin Donnelly has joined Citi in New York as a senior spot trader. Donnelly joins from Nomura in New York where he was head of G10 spot trading, at Citi it is believed he will report to director and head of trading Keizo Fujii. Donnelly joined Nomura in […]

Regulators Continue to Force Additional Liquidity Burdens on CCPs

Bank of England governor, Mark Carney, has reportedly said that clearinghouses must have enough liquidity available to cope with the default of two of its big member firms. Should a clearing member fail CCPs will be expected to cover for this loss using the reserve funds that it holds, previously submitted by its members. Should […]

Icap Charity Day Raises GBP 9.5 Million

Icap held its 21st Charity Day last week and raised £9.5 million worldwide, which the firm says is equivalent to approximately three percent of its full year pre-tax profits. It brings the total amount raised through Icap’s Charity Day since 1993 to £110 million. Michael Spencer, group CEO of Icap, says, “This is again an […]

BSE Waives Transaction Fees in New Currency Segment

The Bombay Stock Exchange (BSE) has decided to waive transaction charges for its newly-launched currency and interest rate segments. The exchange has announced there will be no transaction charges on these segments for a period of six months, presumably in a bid to encourage more trading in these products “Transaction charges shall not be levied […]

GMEX Launches Trade Reporting System

GMEX Technologies, a wholly owned subsidiary of Global Markets Exchange Group International has launched Global Reporting Company in partnership with Paris-based regulatory and market infrastructure advisory firm CoDiese. The firms say GRC offers an end-to-end solution to address regulatory trade reporting requirements imposed by G20-led reforms to the derivatives markets with a focus on corporate […]

StanChart and ABC Plan Further Collaboration on RMB Clearing

Standard Chartered and the Agricultural Bank of China have renewed a Memorandum of Understanding agreeing a partnership to provide renminbi clearing services in the UK. Through this agreement, financial institutions and corporates will be able to work with Standard Chartered UK and ABC UK to execute RMB transactions, with both banks claiming that this will […]