Month: January 2016

DTCC Calls for Distributed Ledger Solutions to Post-Trade Processes

The Depository Trust and Clearing Corporation (DTCC) has issued a white paper calling for industry-wide collaboration in leveraging distributed ledger technologies to improve current financial services post-trade processes.  “The industry has a once-in-a-generation opportunity to reimagine and modernise its infrastructure to resolve long-standing operational challenges,” says Michael Bodson, president and CEO at DTCC. “To realise the potential […]

Samsung Securities Achieves CLS First

Samsung Securities has become the first non-bank participant to access CLS via a third party in South Korea. The firm is now settling FX transactions in CLS via its third party service provider, KEB Hana Bank. Samsung Securities is the first non-bank financial institution (NBFI) to gain third-party access to CLS and marks what CLS […]

Seabury, Spotex Unveil Joint Product Offering

Seabury Financial Solutions has entered into an agreement for a joint product offering between its FXone execution and liquidity management solution and ECN Spotex. The firms say the offering will leverage FXone’s distribution footprint and Spotex’s price aggregation and matching capabilities to expand the companies’ institutional client base while continuing to service the retail brokerage […]

Bailey Appointed to Head the FCA

Andrew Bailey has been appointed as the new CEO of the UK’s Financial Conduct Authority (FCA). He will join from the Bank of England (BoE), where he is currently deputy governor, prudential regulation, and chief executive of the Prudential Regulation Authority (PRA).  Bailey, who has spent over 30 years working for the BoE, will remain […]

Ice Announces Senior Management Changes

Intercontinental Exchange (Ice) has made three changes in its senior management structure.  Ben Jackson, president and COO of ICE Futures US, has been named as Ice’s chief commercial officer. In this newly created role, Jackson will be responsible for leading the integration planning and execution of Ice’s acquisitions and joint ventures. Jackson joined Ice in […]

Hotspot Launches New Private Liquidity Pool Service

Hotspot today announced the launch of a new service designed to allow its clients to build private FX liquidity pools.  The service, called Hotspot Link, aims to enable existing market participants to choose from a broad range of bank and non-bank market makers to create a customised liquidity pool of continuously provided quotes, as well […]

P&L Talk Series with Chris Leaver

Chris Leaver, managing director of MarkitSERV FX and formerly chief operating officer at DealHub, talks to Profit & Loss about the need to update FX trading processes and how technology is changing the role of both buy and sell side institutions in this market. P&L: From a technological perspective, where do you still think there’s […]

FXC Updates FX Best Practices for Non-Dealers

The New York Foreign Exchange Committee (FXC) – an industry group sponsored by the Federal Reserve Bank of New York – has issued an update to its best practice guidelines for non-dealer firms trading FX.  Among the 22 recommendations, the FXC advises that firms ensure that no individuals have concurrent trading, confirmation, payment and general […]

Samsung Securities to Settle on CLS in South Korea

Samsung Securities has become the first non-bank financial institution (NBFI) to join the CLS system via third party access in South Korea. The South Korean securities company is now settling FX transactions in CLS via its third party service provider, KEB Hana Bank – South Korea’s largest bank by assets. In December 2014, the Bank […]

FXCM Teams Up with FlexTrade on CFDs

FXCM has partnered with FlexTrade to provide pricing for CFD products. In a statement released today, FXCM says that it will be integrating its CFD pricing with FlexTrade’s technology. This means that brokerage clients using FlexTrade’s order management system (OMS) and retail trading solution can now utilise FXCM’s wholesale CFD pricing and liquidity to redistribute […]