Month: February 2016

Fixed Income Evolution Leading to Bifurcated Markets

The fixed income market is undergoing a series of significant changes, leading to increasingly bifurcated markets, according to speakers at Tabb Group’s The Big Fix conference last week. Discussing the state of the US Treasury market, speakers at the event consistently stressed the different ways in which it has become bifurcated. “There’s a bifurcation in […]

Barclays, Credit Suisse Fined $150m for Dark Pool Violations

Barclays and Credit Suisse have agreed to pay a combined $154.3 million to settle investigations into how they marketed their dark pools. The banks have settled with the Securities and Exchange Commission (SEC) and the New York Attorney General’s office simultaneously. Barclays admitted to core facts set forth in the Attorney General’s Complaint from June […]

CFTC Approves Eurex for US Swaps Clearing

The Commodity Futures Trading Commission (CFTC) has granted Eurex Clearing registration as a derivatives clearing organisation (DCO) in the US. This means that Eurex Clearing will be authorised to provide clearing services for swaps for US clearing members and their customers. The registration will become effective after Eurex Clearing meets CFTC’s straight-through processing requirements.  Eurex […]

LCH Attains Singapore Recognition

LCH.Clearnet has been formally granted the status of Recognised Clearing House by the Monetary Authority of Singapore (MAS). Recognition applies to LCH.Clearnet’s EnClear (Freight Division), ForexClear and SwapClear services. LCH.Clearnet currently clears Singapore dollar-denominated interest rate swaps as well as commodities futures, including freight, iron ore, and steel, executed on Cleartrade Exchange (CLTX), the MAS-regulated […]

And Finally…

There is obviously some serious upheaval in FX circles at the moment – the macro-economic outlook remains uncertain (at best) and this is highlighting faults in the market structure, which in turn is subject to review by the world’s authorities, who are “majoring” in stamping out malfeasance. A paper I read last week, which I […]

TrueEx Claims Mexican First

Swap Execution Facility (SEF) TrueEx has claimed an industry first with the execution of dealer to client Mexican peso (MXN) interest rate swaps trades on its platform. The SEF says that Societe Generale and undisclosed institutional investors completed the transactions late in December and January; the first buy-side trades to be electronically executed. TrueEx, which […]

BoJ Surprise Helps Platforms

The surprise rate cut by the Bank of Japan on Friday provided FastMatch and Hotspot with a strong end to January, with both platforms seeing their busiest day of the year so far. Hotspot handled $48 billion on Friday January 29 more than 50% higher than its average daily volume for the month, which stood […]

Dismissed ANZ Trader Drops Unfair Dismissal Claim

One of two former ANZ traders who were suing the bank for unfair dismissal has dropped his claim. In a statement, ANZ says that Patrick O’Connor has decided to “discontinue his legal action against ANZ”. O’Connor was reportedly dismissed for inappropriate use of a company credit card after he allegedly run up a large expenses […]

Currency Managers Close Out Tough Year on a Negative

While currency managers were able to point to positive returns for 2015 a decline in performance in December put the stamp on a downbeat 2015, with the Parker FX Index falling 0.51% on a reported basis and 0.23% on a risk-adjusted basis. This left the performance for 2015 as a whole at +1.41% reported and […]