Day: 26 May 2015

And Another Thing…

Chatting to a friend the other day he asked the question (regarding the Fix/chatroom issue) “do you think this will just fizzle out?” It’s an interesting question because although it seems impossible to see how it can, with all the press and political attention currently on it, I suspect it will. Partly this is because […]

Banks in Political Crosshairs After FX Fines

US politicians could look to use the FX fines issued to the banks last week for their own political purposes, with Senator Elizabeth Warren already being outspoken on this topic. Specifically, Warren has voiced concerns over the waivers granted to the banks that pleaded guilty to FX malpractice as part of their settlement deals. Warren […]

FCA Sets Parameters of CIB Market Study

The Financial Conduct Authority (FCA) has outlined the extent of its market study into competition in corporate and investment banking. The UK watchdog received over 40 written responses to its call for contributions on potential subjects of a market study in the wholesale sector, published in February 2015, and met over 70 market participants through […]

LCH.Clearnet Extends Buy-Side NDF Clearing to Europe

LCH.Clearnet’s ForexClear has expanded its US client clearing service to include European model account structures for the first time, ahead of the mandated start of NDF clearing and the expected capital impact of Basel III. It launches with four clearing brokers offering the service including HSBC, Société Générale and Standard Chartered Bank. The fourth broker […]

FXCM and Saxo Bank to Acquire CitiFX Pro Accounts

Citi is selling its margin foreign exchange business, including the CitiFX Pro and TradeStream platforms, to FXCM and Saxo Bank, the companies have confirmed. Financial terms of the transactions were not disclosed. In an emailed statement about the transactions, a Citi spokesperson says, “Citi has made a strategic decision to sell its Margin FX business, […]