Month: August 2015

FIA, FIA Europe, and FIA Asia to Merge

The boards of FIA, FIA Europe, and FIA Asia, who each represent the interests of regional futures industry participants, have agreed to merge in the first quarter of 2016. The three associations have been affiliated with each other since 2013 through the structure of FIA Global.  This allowed them to remain independent but still resulted […]

Majority of Buy-Side Firms Process Complex Swaps Manually

A new survey says that 44% of buy-side managers use completely manual or mostly manual processes to manage complex swaps.  In addition, the survey, carried out by SimCorp, says more than 50% still rely on manual intervention in a semi-automated process. The firm surveyed 57 individuals from 32 different North American buy-side firms, and also […]

Standard Chartered Goes Live on FXSpotStream

Standard Chartered Bank has gone live as a liquidity providing bank to FXSpotStream’s aggregation service, making it the 11th bank available for trading to clients connected to FXSpotStream’s API and GUI service. The addition of Standard Chartered adds to the liquidity available from FXSpotStream’s existing liquidity providers, which include BofA Merrill Lynch, BNP Paribas, Citi, […]

Secure Your Place at Profit & Loss Scandinavia

Profit & Loss Scandinavia 2015 takes place next month and already more than 200 FX professionals have registered to attend the region’s premier FX conference and trade exhibition. The full-day event taking place on 16 September will feature a keynote address from Per Callesen, Governor of Danmarks Nationalbank, interviews with Patrick Fleur, head of the […]

Former Trader Sues HSBC

HSBC is the latest bank to face a suit for wrongful dismissal by one of its former FX traders let go over the chat room scandal.  According to Bloomberg, former head of European FX trading Serge Sarramegna is suing HSBC for wrongful dismissal claiming he was punished for whistle blowing. Sarramegna was suspended by HSBC […]

CME Fines Wolverine Trading $250,000

Wolverine Trading has been fined $250,000 by CME Group for self-matching trades with itself in natural gas, agriculture and FX markets. In one disciplinary action brought by the exchange, Wolverine agreed to pay $125,00 for a breakdown of its automated trading system (ATS) on March 21, 2014, that resulted in the firm sending over 27,000 […]

And Another Thing…

Monday’s column prompted a few responses, including one question over how these events will impact what my correspondent called “the superstar salesperson”? I have been wondering if recent events will have a lasting impact on the FX sales force, mainly as a result of a conversation I had with a hedge fund manager last week. […]

Survey: Corporates to Increase FX Hedging Activity in 2015

Corporate firms are expected to increase both their level of international trade and their FX hedging activity in 2015, according to a new study from payment and risk management firm, AFEX. In its Currency Risk Outlook Survey, 48% of AFEX clients say that they expect to increase the amount of international trade that they conduct […]

Volatile Markets Seen to Challenge Central Banks’ Fiscal Policy Stance

The recent dramatic rise in volatility and sharp falls in the Chinese equity markets may not just be disturbing domestic and international stock investors, as central banks try and reconcile their anticipated fiscal policy tightening with the wild scenes in the financial arena. Analysts at Barclays believe that the Federal Reserve, until recently seen raising […]

Nasdaq to Launch FX Platform

Nasdaq appears to be the latest exchange group to target the FX market for its next source of growth with the firm revealing it is to launch an FX platform. In an interview with Reuters Nasdaq’s co-president Hans-Ole Jochumsen, says the FX trading platform is ready to be tested with banks with a launch likely […]