Month: January 2014

CFTC Approves TrueEX’s MAT Application

The Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight (DMO) has announced that TrueEX’s self-certification of available-to-trade (MAT) determinations for certain interest rate swap contracts is deemed certified. This self-certification includes certain interest rate swap contracts made available to trade after an application by the trading platform Javelin was deemed certified on January 16, […]

ICE to Set Libor from February

Intercontinental Exchange Group (ICE) has been given the go-ahead by UK regulator, the Financial Conduct Authority (FCA), to take over the administration of Libor – the London Interbank Offer Rate, which is used to price contracts worth trillions of dollars worldwide. A handover will take place on 1 February in the wake of an ever-increasing […]

ACI Model Code Translated into Chinese

Following the successful launch of the new Model Code in London in February 2013, ACI’s Committee for Professionalism, in co-operation with the Taipei Foreign Exchange Market Development Foundation, has made available a translated Chinese version of the ACI Model Code on both associations’ websites. The Committee for Professionalism has recently strengthened in the Asia region […]

RMB Breaks into Top 10 Most-Used Currencies for Payments

China’s renminbi (RMB) entered the top 10 most-used currencies for payments in terms of value in November and December, underscoring the currency’s dramatic rise past 22 others over the past three years. Most recently it overtook the Singapore dollar and the Hong Kong dollar to rank as the eighth most-used money for payments, accounting for […]

FXCM Japan has Business Improvement Order Lifted

FXCM has announced that the Business Improvement Order issued by the Kanto Financial Bureau in July 2012 has been lifted for its Japanese entity, FXCM Japan Securities (FXCMJ). FXCMJ said in a statement that it has worked “extensively” since the order was issued to improve and strengthen its internal control systems including its risk management […]

Deutsche Asset & Wealth Management Adds New Currency-Hedged ETFs

Deutsche Asset & Wealth Management, the exchange traded funds unit of Deutsche Bank, has expanded its lineup of currency hedged ETFs with the addition of three new products. The firm has introduced the db X-trackers MSCI All World ex US Hedged Equity Fund (DBAW), db X-trackers MSCI South Korea Hedged Equity Fund (DBKO) and the […]

CFTC to Form New Working Group to Review Trade Reporting

The Commodity Futures Trading Commission (CFTC) has announced the formation of an inter-divisional staff working group to review certain swaps transaction data recordkeeping and reporting provisions.   The working group, led by the director of the Division of Market Oversight, will formulate and recommend questions for public comment regarding, among other things, compliance with part […]

Bae Given New Electronic Trading Role at BAML

Christopher Bae has been appointed as the new global head of fixed income, currencies and commodities (FICC) electronic trading at Bank of America Merrill Lynch. Prior to being appointed in this newly created role Bae was co-head of G10 currency trading. Bae joined BAML in 2009 as managing director and co-head of global foreign exchange […]

EurexOTC Clear Signs Up Over 120 Buy Side Firms

Eurex Clearing has signed up more than 120 buy side firms for EurexOTC Clear, its central counterparty service for interest rate swaps (IRS), in 2013. In addition, a total of 32 clearing members including all major global sell side banks are connected, with other clearing members in the admission process. While the start date of […]

Changes at the Top Won’t Impact the Company, Says Oanda’s New CEO

Oanda’s new CEO, Edmond Eger, insists that the recent series of senior management changes at the company does not represent a significant shift in its strategic direction. 2013 saw a raft of new appointments at the retail FX platform. In January Jesper Bruun-Olsen was hired as the new managing director, North East Asia and head […]