Month: July 2015

CME Chairman: EU Regulators Putting US Clearing Houses at Disadvantage

CME’s executive chairman and president, Terry Duffy, has accused European regulators of deliberately disadvantaging US clearing houses in order to provide their European counterparts with a competitive advantage. Speaking before the US House Committee on Agriculture to assess the progress of global derivatives reform five years after Dodd-Frank was passed into law, Duffy claimed that […]

Barclays’ Revenues Grow

In its Interim Statement for the first half of 2015, Barclays has revealed that its macro products business, which includes foreign exchange, saw revenues increase by 12%. Barclays reports that Macro products’ revenue was GBP 1.178 billion in H115, up from GBP 1.056 billion in the same period last year. It says that the increase […]

Thomson Reuters Adds Icebergs to Matching

Thomson Reuters this week added Iceberg order functionality to its Matching platform. The firm confirms, “The Thomson Reuters Matching Community now has access to native Iceberg order types, enabling clients to display a size which is less than the full order quantity when submitting a limit order.” Iceberg orders allow a price maker to stay […]

BGC Records Fourth Consecutive Quarter of Record Profits…

BGC’s second quarter post-tax distributable earnings grew by 48.6% year-over-year to $64.6 million, while it revenues increased by approximately 59.1% to $684.6 million, according to the results that it released yesterday. The brokerage firm’s foreign exchange revenues for Q2, 2015, was $82.4 million, up 67.2% from the same quarter the previous year. “This was the […]

…Lutnick Expects More Buy Side Business for IDBs

Howard Lutnick, chairman and CEO of BGC, says that he expects to see more buy side business coming through the inter-dealer brokers (IDBs), which will help drive growth in the industry. Speaking on an investor call to announce BGC’s second quarter results, Lutnick pointed to the changing regulatory structure in Europe and the US as […]

360T Purchase Part of New Growth Program: Deutsche Boerse CEO

Deutsche Boerse, the German exchange group that recently agreed at deal to purchase the OTC FX trading platform 360T, has announced an ambitious growth program amid second quarter results that showed its revenue was up nearly 20% from the first quarter. The new group-wide growth program, known as “Accelerate”, has five key focuses aimed at […]

FXPA Meets with Regulators, Policymakers in Washington

Members of the Foreign Exchange Professionals Association (FXPA) spent two days in Washington DC last month meeting with senior members of the Federal Reserve, US Treasury and Commodity Futures Trading Commission (CFTC), as well as held a series of educational briefings for Congressional staffers on such key committees as the House Financial Services Committee, both […]

LME Clear Launches New Renminbi Initiative

LME Clear, the clearing house for the London Metal Exchange (LME) market, will now accept offshore renminbi (CNH) as eligible cash collateral. This follows regulatory approval for the initiative from the Bank of England. The renminbi is seeing rapid adoption internationally. According to Swift data, the Chinese currency is already one of the top-five global […]

RBC GAM Unveils EMFX Fund

RBC Global Asset Management has announced the launch of the RBC Emerging Markets Foreign Exchange Fund. “At RBC Global Asset Management, we continually strive to meet the evolving needs of our clients by providing them with new and innovative investment opportunities,” says Doug Coulter, president of RBC GAM. “Investors and advisors are increasingly looking for […]

FX Committee Surveys Shows Divergence in Trading Activity

The turnover survey results released by the Foreign Exchange Committees around the world show little by way of unifying trends with regards to FX trading activity in April 2015. In the UK and US FX trading volumes were down from the October 2014 highs but still above the figures recorded in April 2014. In Japan […]