Month: September 2014

And Finally…

Although the subject was not discussed too often during the panel sessions at Forex Network Chicago, conversations on the sidelines clearly highlighted how the subject of last look continues to vex many in the industry. I have made my feelings very clear about this before – I understand why the practice came about and equally […]

Around the World

CFFEX and BM&FBovespa Sign MOU on Information Sharing China Financial Futures Exchange (CFFEX) and BM&FBovespa (BVMF), the Brazilian securities, commodities and futures exchange, have signed a memorandum of understanding (MOU) to enhance mutual understanding, promote bilateral support and facilitate development for both exchanges. The agreement covers information sharing, high level dialogue, training and staff exchange, […]

Tech Corner

Taiwan’s Yuanta Bank has connected to Fenics Gateway, a hosted messaging hub, and also extended its Fenics Professional license. The Fenics Gateway connects multibank and single bank transactional venues to Fenics Professional clients. It also links into the client’s Fenics database for risk management and onward distribution to trade repositories via third parties such as […]

On the Move

Mehta Joins HSBC in FX Sales Neel Mehta has joined HSBC in New York as a senior vice president in FX sales with a primary focus on corporate and hedge fund customers. Mehta was previously a director in FX sales at Bank of America Merrill Lynch (BAML), which he left in April 2014 after working […]

FXCM New Pricing Model to Reduce Trading Costs

Retail brokerage firm FXCM has introduced a new pricing model for its US subsidiary, which displays “raw” FX spreads and commission costs separately in what it says is a bid to improve transparency for customers. “As part of FXCM’s commitment to its clients, we are taking pricing and broker service transparency to a new level […]

B-Next Launches FX Fix Monitoring System

Trading surveillance vendor B-Next has launched CMC: Benchmark Fixing Analysis, a system the company claims helps identify suspicious trading activity at the time of the FX fix.  According to the firm, it had already been responding to FX-related enquiries from brokers and investment banks by making enhancements to its existing product for surveillance and benchmark […]

Thomson Reuters and Markit Boost Messaging Service

Markit has integrated the industry’s first vetted, cross-network directory for open messaging with Thomson Reuters Eikon Messenger, in a further expansion of the instant messaging service. The address book consists of over 250,000 contacts was initially launched by Markit’s Collaboration Services, the network it launched in October 2013 in partnership with Thomson Reuters and eight […]

FIA Global Launches Guide to Clearinghouse Rules

Futures industry association FIA Global has unveiled a new guide to the rules of central clearing counterparties (CCPs) to help clearing members and end users navigate the changing landscape of regulatory and capital requirements. The FIA Global CCP Rulebook Review is a subscription service that will provide a standardised overview and analysis of the rules […]

Global Payments in RMB Triple in Value

Renminbi payments worldwide have nearly tripled in value over the past two years, according to the latest RMB Tracker report from financial messaging service Swift. RMB is now supported by a much broader base with more than one third (35%) of the world’s financial institutions using it for payments with China and Hong Kong. Asia […]

FXDD Fined by CFTC

The US Commodity Futures Trading Commission (CFTC) has hit retail FX broker FXDD with a $600,000 fine for failing to adhere to CFTC regulations prior to it pulling out of the US market. CFTC has issued an order filing and simultaneously settling charges against FXDirectDealer LLC, which is still a CFTC-registered retail foreign exchange dealer […]