Month: September 2015

Tech Corner

A round up of the latest technology news… Provider of liquidity, trading and investment technology via SaaS, TradingScreen has integrated a series of best execution focused monitoring tools as part of its new release of it’s Pre-Trade Decision Suite featuring a toolkit designed to assist users in simplifying the pre and in-trade decision making process […]

And Another Thing…

Does the FX industry need the equivalent of a Truth and Reconciliation Commission? The question was asked of me last week when the subject of discussion around Profit & Loss Scandinavia was, sadly it must be said, still dominated by the ongoing legal actions around dismissals and chat room activity. The idea, as it was […]

ParFX Adds Offshore Renminbi

ParFX has added offshore renminbi (CNH) as it expands the number of tradeable currencies offered on the platform. The USD/CNH pair went live on 14 September 2015 following testing, and is a result of global demand from ParFX’s founder banks and customer base 2013, the firm says. Dan Marcus, CEO of ParFX, says: “The Chinese […]

Saxo Bank Co-Founder and Co-CEO to Step Down

Lars Seier Christensen, the co-founder and co-CEO of Saxo Bank, has decided to step down from his position on the firm’s management board. At the end of 2015 Christensen will step down from the position that he has held for 20 years but will remain a shareholder at the firm, in which he has a […]

DTCC Appoints Wetjen

Former CFTC commissioner Mark Wetjen has joined the Depository Trust and Clearing Corporation (DTCC). Wetjens has been appointed managing director with responsibility for DTCC’s public policy function and related business and legal activities. He will join on September 28, 2015, will be based in Washington DC, and will report to Larry Thompson, vice chairman of […]

Fintech Upstarts Target Financial Terminal Business

Technological advancements have led to new vendors attempting to disrupt the financial terminal business. Galen Stops asks: Will they be able to challenge the incumbents?    The traditional terminals for financial services – operated primarily by Bloomberg and Thomson Reuters – have proven to be very lucrative pieces of technology for these firms. As a […]

P&L Talk Series with Campbell Adams

On the five-year anniversary of the launch of the FX Pure project, Profit & Loss talks to Campbell Adams, who founded the project and is now head of market at ParFX, about changing FX market behaviour and its impact on liquidity. Profit & Loss: The FX Pure initiative was launched exactly five years ago now. […]

BATS Launches London FX Matching Engine

Hotspot,  the FX platform owned and operated by BATS Global Markets, announces that its new London-area matching engine, launched 14 September, traded $1.2 billion (single-count) in the first full week of operation. Chris Concannon, BATS CEO says: “Exactly six months after acquiring Hotspot, we have demonstrated our commitment to injecting very real competition into the […]

ICAP Invests Further in Duco

Icap has further invested in Duco, a London-based fintech provider of hosted reconciliation services, via Euclid Opportunities, Icap’s early stage funding programme.  “Following a very successful 18-month period, where we now have 26 financial institutions using our on-demand reconciliation system, Duco Cube, our business plan was always to accelerate growth with second round funding. Post-trade […]

Fotheringhame Leaves Barclays?

David Fotheringhame, global head of automated flow trading in Barclays’ electronic fixed income, currencies and commodities business, has left the bank, market sources say. London-based Fotheringhame joined Barclays in 2010 as global head of electronic FX spot trading from Nomura, where he worked for two years. Prior to that he was at Lehman Brothers until […]