Month: January 2015

On the Move

Waldman Appointed Head of UBS G10 Strategy Dan Waldman has joined the FX Strategy team at UBS in New York. Waldman has been appointed head of the FX G10 strategy team and will report to Stephane Deo, UBS’ global head of macro economic strategy research in London. Before taking this new role Waldman was chief […]

Newedge CTA Index Finishes +15.58% for 2014

The Newedge CTA Index finished 2014 showing a return of +15.58% following the fifth consecutive month of positive returns for the managed futures industry. The index was up +1.56% in December with trend following strategies again being the best performing group. The Newedge Trend Index returned +2.52% for the month, ending the year +19.75%, the […]

ESMA and Hong Kong SFC Sign MoU on CCP Equivalence

The European Securities and Markets Authority (ESMA) and the Hong Kong Securities and Futures Commission (SFC) have signed a memorandum of understanding (MoU) to allow Hong Kong central counterparties to be recognised by the European regulator.  Hong Kong-based CCPs must comply with legally binding requirements, which are equivalent to those under the European Markets Infrastructure […]

FXCM Updates FX and CFD Trading Volumes for January

One week on from its bailout deal with Leucadia and FXCM is reporting month-to-date volumes of $406 billion in FX and CFD trading. This volume, which counts both sides of the trade was boosted by the Swiss National Bank's decision to abandon EUR/CHF peg. FXCM also says that as of 22 January tradable accounts were […]

Regulators Likely to Extend Swap Margin Requirements Deadline

Global regulators have indicated that the end of the year deadline for the introduction of margin requirements for swaps transactions is likely to be extended. Speaking at the Asia Financial Forum in Hong Kong, US Commodity Futures Trading Commission (CFTC) chairman, Timothy Massad, and Steven Maijoor, chair of the European Securities and Markets Authority (ESMA), […]

Thomson Reuters Reports End of Year FX Volumes

Thomson Reuters has exhibited a similar pattern as other FX platforms, showing an overall growth in FX volumes across its platforms year-on-year. Additionally, it has seen a slight increase between November and December. Total average daily volume (ADV) of foreign exchange trading across Thomson Reuters platforms in December 2014 totalled $350 billion – an on-year […]

CLS Teams Up With TriOptima on FX Compression Service

CLS Group and TriOptima are to collaborate on a new FX forward compression service. The new service aims to address several needs of market participants, including the regulatory requirement for financial counterparties to consider the use of a compression service for non-centrally cleared OTC derivatives, if available. The compression service will help participants reduce the […]

UK MPs Question Thoroughness of FX Probe

UK MPs have questioned the diligence of the probe into manipulation in the FX market conducted by Anthony Grabiner, the lawyer who was appointed by the Bank of England’s Oversight Committee to lead an independent investigation. The Treasury Select Committee members quizzed Grabiner on whether he too willingly accepted a former BoE employee’s version of […]

ECB QE Hits FX Markets; EURUSD Plunges to 11-Year Low

The euro set a fresh 11-year low versus the dollar following the European Central Bank’s landmark decision to pump more than €1 trillion into the flagging European economy, a figure higher than most experts predicted. ECB president Mario Draghi announced on Thursday that the bank would purchase €60 billion per month in asset-backed securities and […]

Report: Liquidity Declining in Fixed Income Markets

Dealers are pulling back from the fixed income market as a result of more stringent capital requirements, causing a decline in market liquidity, according to a new report by Greenwich Associates. In a new study conducted by the firm, 80% of institutional investors report difficulties executing corporate bond trades of more than $15 million. The […]