Month: April 2014

Barclays Live Launches iPad App with FX Pricing from BARX

Barclays has launched an iPad app in a bid to provide its institutional clients with access to the firm's research, data and analytics in addition to "live" content such as real-time FX prices from BARX. According to the bank, its new venture for mobile devices is intended to complement the resources available on its Barclays […]

Wald and Cronin Leave Gain Capital

Joseph Wald and Peter Cronin have left Gain Capital where they managed GTX, the online broker’s institutional business. Wald joined Gain in New York in January last year as executive vice president and head of GTX. He reported directly to Gain Capital’s CEO, Glenn Stevens. Cronin joined in August last year, reporting to Wald. He […]

UBS and Barclays Scoop Top Prizes at Profit & Loss Digital FX Awards

Profit & Loss unveiled the 2014 Digital FX Awards winners at a dinner and ceremony last night, with UBS scooping the Best Platform award for Neo and Barclays returning to the winners’ circle by carrying off Best FX Platform. After 13 years of awarding banks for excellence in their e-commerce offerings, Profit & Loss has […]

On the Move

RBS Hires North American Options Head David Katalan has joined Royal Bank of Scotland in Stamford, CT, as head of North American FX options trading according to market sources. He joins from a two year spell with algo trading analytics firm Equametrics, prior to which he held FX options trading positions at State Street, Bank […]

SIFMA Urges US Treasury to Help Promote LEIs

The Securities Industry and Financial Markets Association (SIFMA) has submitted a letter to the Treasury advocating the broader of adoption of Legal Entity Identifiers (LEIs) in the US. SIFMA’s letter, signed by its president and CEO, Kenneth Bentsen, encourages US Treasury Secretary Jacob Lew and chair of the Financial Stability Oversight Council (FSOC), to leverage […]

Canadian Authorities Delay Trade Reporting Rules

The Canadian Securities Administrators (CSA) has announced that it intends to extend the date for the commencement of OTC derivatives trade reporting until 31 October, 2014 for clearing agencies and dealers, and until 30 June, 2015 for all other OTC derivatives market participants. At present, no trade repository that can accept all OTC derivative asset […]

Citic Continues to Invest in US Firms

Citic Securities, China’s largest brokerage by market value, has acquired a stake in US brokerage firm BTIG. The investment is being made by Citic’s Hong Kong-based CLSA unit, which it completed the purchase of in July 2013. The terms of the deal were not disclosed but BTIG and its global affiliates will continue to operate […]

Traders Sue Chicago Exchanges Over HFT “Fraud”

Three traders have filed a lawsuit accusing the Chicago Mercantile Exchange (CME) and the Chicago Board of Trade (CBOT) of fraud in relation to the information that they sold to high frequency traders. William Braman, Mark Mendelson and John Simms are claiming that the two exchanges deliberately misled them about the ability of HFTs to […]

ACI UK Calls For FCA to Investigate ‘Irregular’ Trading Activity

ACI UK, the UK arm of ACI – The Financial Markets Association, has asked the Financial Conduct Authority (FCA) to investigate the possibility that key economic data is being leaked ahead of the official market-wide release times. The allegations follow reports from certain ACI UK members that there have been unusual market movements in GBP/USD prior […]

EU Approves MiFID II; Countdown to Implementation Begins

The European Parliament has adopted the updated rules for reforming the Markets in Financial Instruments Directive (MiFID II), marking the end of a drawn out political debate while heralding the start of a long technical implementation process prior to its expected introduction in 2016. The European Commission (EC) started work on formulating MiFID II in […]