Month: September 2015

CFTC Officially Classifies Bitcoin as a Commodity

The US Commodity Futures Trading Commission (CFTC) has decided to classify Bitcoin and other virtual currencies as commodities that are therefore subject to regulations under the Commodity Exchange Act (CEA). Last week the CFTC took its first action against an unregistered Bitcoin options trading platform called Coinflip, citing that the platform did not comply with […]

SEF Volumes Dip in July

Overall trading volumes on Swap Execution Facilities (SEFs) in July dropped 8.9% from the previous month, although volumes for interest rate and FX products were higher year-on-year. Average daily trading in interest rate, credit and foreign exchange derivatives on swap execution facilities was $396.18 billion in July, down from $434.94 billion per day in June. […]

ACI ELAC Adopted by Two Banks

ACI – The Financial Markets Association says that two Swiss banks, Bank Julius Baer and Zürcher Kantonalbank, have expressed an interest in being first adopters of the ACI e-Learning and Certification Portal (ELAC). ELAC supports full compliance to ACI’s code of conduct, The Model Code, and also facilitates similar conduct work across the fixed income […]

R5FX Adds Board Members

Emerging markets trading technology provider R5FX has announced three new board members as it moves toward completion of its beta testing phase. The platform provider has named UK Lord Flight, Eng Huat Tan and Chung Min Pang. Lord Flight is a member of the UK House of Lords and holder of directorships of financial organisations […]

FXeco-Eye Unveiled

FXecosystem has added a new product to its portfolio to enable business units and network/trading system support teams to speed up the process of establishing the root cause of any network and trading issues. Its new product, FXeco-Eye, is a real-time network and flow operational monitoring and data visualisation tool that provides users with a […]

Scots Cloud Computing Firm Acquires Chicago Futures Hosting Company

Beeks Financial Cloud has bought Chicago-based futures specialist VDIware for an undisclosed seven-figure sum. “Our aim is to become a cross-asset-class financial markets hosting specialist for the foreign exchange, futures, and equities markets,” says Beeks Financial Cloud CEO, Gordon McArthur.  With the acquisition of VDlware, Beeks Financial Cloud now offers institutional investors direct access to futures […]

Tech Corner

A round up of the latest technology news…   Javelin SEF has selected CameronTec’s Catalys FIX Gateway and VeriFIX Automated Testing Tools to future-proof its services. Bullion Capital has announced a new collaboration with Peru-based brokerage Financial FX which will see the latter offer precious metals trading to its Latin American clients.

And Finally…

I am sure I am not the only person who finds it ironic that various authorities are warning of deteriorating liquidity conditions in financial markets. The focus of several central bankers – most latterly Mark Carney, governor of the Bank of England – is the bond markets but given how these same authorities seem intent […]

A Different Journey: The New JP MorganMarkets

JP Morgan’s rejuvenated single dealer offering is nearing completion, but as Colin Lambert finds out, the journey to this point has taken a different course to most offerings. The story of platform development within the e-FX banking industry over the past decade has been fairly consistent. Banks relied upon their traders to price customers on […]

Ruling on Stimpson Case to Be Given Within Two Weeks

The tribunal hearing of Perry Stimpson, the former G10 FX trader at Citi who is suing the bank for unfair dismissal, came to an end on Thursday with Judge Alison Russell saying that she anticipates giving her judgement on the case within the next two weeks. The hearing lasted nine days and saw Stimpson and […]