Month: February 2016

ISDA Publishes Paper on EU-US Platform Comparison

The International Swaps and Derivatives Association (ISDA) has published a set of principles for achieving comparability determinations between US and European Union trading platforms. The paper analyses the regulatory frameworks in the US and EU, with the aim of determining whether EU trading platforms should be deemed comparable with those in the US. “Underpinning the […]

Paper Warns of “Burden” of Collateral Settlement Fails

DTCC-Euroclear Global Collateral a joint venture of Euroclear and The Depository Trust & Clearing Corporation (DTCC), in cooperation with PricewaterhouseCoopers (PwC), have published a white paper, “Implications of Collateral Settlement Fails: An Industry Perspective on Bilateral OTC Derivatives.” The paper examines the market implications and costs of bilateral OTC derivatives collateral settlement fails. A collateral […]

And Another Thing…

This column has often discussed the unintended consequences of regulation and market structure change, and we are on the verge of seeing yet another instance – one that seems to indicate the way the FX world is inevitably going. Something that surprised me a little in the whole chat room fiasco was the relatively muted […]

CFH Adds Olfa Soft

CFH Clearing is extending the number of white label platforms available to its institutional clients through a partnership with Swiss technology provider Olfa Soft. From March, CFH Clearing will offer Olfa Soft’s Seamless FX (SFX) platform as a white label product. In addition, Olfa Soft will offer CFH Clearing’s liquidity to its clients. The SFX […]

FX Post-Trade: Ripping Off the Band-Aid

FX Post-Trade: Ripping Off the Band-Aid A Profit & Loss Audio Webinar in association with Markit  Tuesday, March 8 2016 3.00pm GMT/ 10.00am EST For years market participants have been implementing a patchwork of solutions to help them cope with the increasing complexity and fragmentation of the FX market. Their attempts to improve post-trade procedures […]

Trad-X Announces Eurex Clearing Partnership

Trad-X is looking to strengthen its position in the interest rate swaps (IRS) market with the launch of a new central limit order book (CLOB) for Eurex OTC cleared products. The new CLOB was launched today in order to coincide with the EMIR (European Market Infrastructure Regulation) frontloading date. Trad-X says that the CLOB will […]

EBS BrokerTec Launches New WMR Fixes

EBS BrokerTec has launched 12 new daily WMR fixes through its eFix Matching solution, with plans to provide electronic execution for all 24 hourly WMR fixes by the end of the first quarter 2016. In a release issued today, EBS says that the new fixes were launched in response to demand from customers who have […]

XTX Builds Further

XTX Markets is adding further to its roster of talent with the hire of Jigar Patel, who will join the company as part of its business development team, heading up the e-commodities business. Patel will join in May and moves from Goldman Sachs where he led the global e-commodities team and successfully built out the […]

Last Look Back in the Spotlight as Barclays Settles Claim

Barclays has agreed to pay $50 million to settle a lawsuit in a US court claiming that it used “last look” functionality to disadvantage its clients. Profit & Loss previously reported in November 2015 that Barclays and Deutsche Bank were facing class action misconduct claims led by Axiom Investment Management relating to their use of […]

Dudley, Strine, Re-Appointed at New York Fed

The Federal Reserve Bank of New York has reappointed William Dudley and Michael Strine as president and first vice president of the bank, respectively. Eligible members of the Bank’s board of directors voted unanimously to reappoint the two men last week, and the Board of Governors of the Federal Reserve approved that decision. Their new […]