Day: 7 December 2015

ECB Attempts to Discourage Trading Against Euro FX Reference Rates

The European Central Bank (ECB) plans to delay the daily publication of its euro FX reference rates in order to discourage firms from using the rate as a benchmark to trade against. The ECB announced in a press release today that it is changing the publication time of the ECB reference rates from around 14:30 […]

Icap to Hold Annual Global Charity Day on December 9

Icap will hold its 23rd annual global Charity Day on Wednesday, December 9. On this day, 100% of Icap’s revenues and commissions generated globally will be donated to more than 200 charities worldwide. Since Charity Day was launched in December 1993, Icap has raised more than $189 million for 1,800 charities worldwide. In 2014 alone, […]

Iorio Leaves Barclays

James Iorio, a managing director and head of FX distribution for the Americas at Barclays, is set to leave the bank. Barclays did not respond to requests to confirm the move by press time, but Profit & Loss understands that Iorio’s departure was announced last week. Iorio has been with Barclays since 2008. He initially […]

Morgan Stanley Starts FX and FI Cut Backs

According to sources, Morgan Stanley has started a round of lay-offs in its FX and fixed income departments. In fixed income, managing director and co-head of investment grade trading Isabel Mahoney and investment grade corporates rates trader Kevin Edwards are said to be among those who have left the firm. Mahoney joined Morgan Stanley in […]

Latest Volume Data More Mixed

Following last week’s release of lower average daily volume (ADV) data from several platforms, three other FX venues have reported – with mixed results. Thomson Reuters says that spot volumes across its Matching and FXall platforms was $90 billion per day, down 13.5% from October’s $104 billion and 25% lower than the previous November’s $120 […]

Dangerfield Appointed CTO at FXecosystem

Matt Dangerfield has been named as interim chief technology officer at FXecosystem. He is the one of the founders of Financial Technology Advisers and a pioneer of field-programmable gate array (FPGA) ultra-low latency technology. From 2009 until 2014 Dangerfield was CTO at Fixnetix, a start-up in the ultra-low latency market data space. At Fixnetix, Dangerfield […]

BIS Quarterly Review Looks at Policy Divergence, Cross-Border Banking

The Bank for International Settlements (BIS) has released its December Quarterly Review looking at how global financial markets have responded in recent months to the prospect that monetary policy paths will diverge across the major advanced economies (AEs). The 147-page review highlights that recent strong US data increases the likelihood of a hike in the […]

And Finally…

I shouldn’t be surprised by the initial response to the first of my accolades, unveiled last week – after all, you’ve always been a pretty strange lot; and yes, I am aware I was suggesting it would be quiet, just hours before the largest one day euro move in seven years! So before I unveil […]