Month: January 2016

FXecosystem to Launch Bond Service

FXecosystem has announced plans to launch a new outsourced connectivity service to the bond market. The new service, called Bondecosystem, aims to deliver a single point of contact to connect global bond traders to ECNs and banks, enabling the merging of asset classes and eliminating the need for multiple leased lines. FXecosystem’s co-location facilities will […]

FX Committee Surveys Show Drop in Trading Activity

Announcing the results of their semi-annual FX volume surveys today, six central bank-affiliated foreign exchange committees reveal overall declines in trading volume during October against April 2015. Although the committees in Japan, Singapore and Australia reported an increase in trading activity compared to April, sizeable declines in the UK and US mean that overall volumes […]

UK Foreign Exchange Turnover Falls to 2012 Levels

UK foreign exchange turnover fell sharply in the semi-annual period to October 2015, according to the latest report from the Bank of England’s Foreign Exchange Joint Standing Committee (FXJSC). The report shows that average daily reported UK foreign exchange turnover was $2,148 billion in October 2015, 13% lower than April 2015, and 21% lower than […]

McWilliams Next Up Against Citi

The latest case of dismissed FX traders suing their former employers started at the East London Employment Tribunal today, with former Citi FX trader Carly McWilliams taking legal action against the bank for wrongful dismissal. The hearing was presided over by Judge Alison Russell, who late last year ruled that another former Citi FX trader, […]

Cross Joins HSBC GAM

Former head of the FX division at the Bank of England, Michael Cross, has joined HSBC Global Asset Management according to market sources. Cross is joining the firm in a newly-created role as head of its central bank and sovereign wealth fund business.  Cross left the Bank of England in July 2015, after 25 years […]

And Finally…

In a list of statements you never expected to see in this column, “Confucius once said” is probably pretty high up the table…but, anyway, Confucius once said, “Study the past if you would divine the future”. Why am I quoting the Chinese philosopher? Because I look at some of the shock and surprise expressed over […]

CFTC Grants Final Registration to 18 SEFs

The US Commodity Futures Trading Commission (CFTC) has granted final registration to 18 swap execution facilities (SEFs).  Prior to this, the SEFs had been operating under a temporary registration status. The SEFs approved for registration are: 360 Trading Networks, BGC Derivatives Markets, Bloomberg SEF, Chicago Mercantile Exchange, DW SEF, GFI Swaps Exchange, ICAP Global Derivatives, […]

Falling EM Claims Lead to Lower Q3 Cross-Border Lending – BIS

The latest quarterly international banking statistics from the Bank for International Settlements (BIS) show cross-border bank lending shrank for the second consecutive quarter, driven by falling claims on major emerging market economies (EMEs). The BIS report, for the quarter to end-September 2015 (Q3), shows a global contraction of $151 billion, smaller than the previous quarter’s […]

More Chatrooms in Regulatory Focus?

Newly released documents have attracted the interest of US investigators looking into alleged FX market manipulation, according to a report from Bloomberg News. The report, which cites documents and people with knowledge of the matter, says that portions of the complaint brought by several US pension funds last year had been blacked out at the […]

Digital Asset Closes $50m Funding Round

Digital Asset Holdings, a developer of distributed ledger technology has raised more than $50 million in funding from a broad range of financial services firms. The firms include ABN Amro, Accenture, ASX, BNP Paribas, Broadridge Financial Solutions, Citi, CME Ventures, Deutsche Börse, ICAP, JP Morgan, Santander InnoVentures, The Depository Trust & Clearing Corporation (DTCC) and […]