Month: March 2016

FlexTrade Adds Three in APAC

FlexTrade Systems has made three appointments to its Asia Pacific team. Tim Wong, Maroof Khan, and Dan Enstedt have been named as vice presidents of business development, multi-asset sales, for the region.  Based in Hong Kong, Wong will focus on multi-asset execution management systems (EMS) sales in North Asia. He comes to FlexTrade with more than […]

And Another Thing…

Is the FX sales role now definitively squeezed between a rock and a hard place? It’s hard to think it isn’t. I remember more than a decade ago when the e-channel really started kicking into gear as a mechanism for FX trading there was a major school of though that this sounded the death knell […]

Facing Up to The Challenges of Post-Trade Inefficiency

Although speakers on a recent Profit & Loss webinar agreed that there is a need for greater automation and efficiency within FX market post-trade infrastructure, there were divergent views on both the speed and the manner in which this should be accomplished. The webinar opened with Allan Guild, global head of FX and commodities regulatory […]

BIS 2016 Triennial Central Bank Survey Begins

The Bank for International Settlements (BIS) launched its Triennial Central Bank Survey of Foreign Exchange and Over-The-Counter Derivatives Market Activity today. The survey has been running since 1986, and is regarded as one of the most comprehensive sources of information on the size and structure of both markets. The BIS says that the aim of […]

EBS and ICAP Launch Sterling Repo Index Rate

EBS BrokerTec and ICAP Information Services (IIS) have launched a new Sterling Repo Index Rate (£RIR) that will provide a daily measurement of the effective cost of funding for Sterling Government Bonds. £RIR will be calculated and distributed by IIS, and will use eligible one-day repo trades that are executed on BrokerTec Market’s electronic central […]

SWIFT Reports 18% Jump in RMB Adoption

Figures released by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) today reveal that nearly 40% of financial institutions worldwide have adopted RMB when exchanging payments with China and Hong Kong. 1,131 banks used the RMB in payments with China and Hong Kong during February 2016, marking an 18% increase over the last two years. […]

FXPA Calls for FX Exemption from SEC Funds’ Use of Derivatives Rules

The Foreign Exchange Professionals Association (FXPA) has submitted comments to the Securities and Exchange Commission (SEC) on its proposed rules governing the “Use of Derivatives by Registered Investment Companies and Business Development Companies”, calling for an exemption for FX swaps and forwards. FXPA is joined by a number of asset management firms drawing particular attention […]

FXPA Calls for FX Exemption from SEC Derivatives Rules

The Foreign Exchange Professionals Association (FXPA) has submitted comments to the Securities and Exchange Commission (SEC) on its proposed rules governing the “Use of Derivatives by Registered Investment Companies and Business Development Companies”, calling for an exemption for FX swaps and forwards. FXPA is joined by a number of asset management firms drawing particular attention […]

DTCC and Digital Asset to Test Distributed Ledger Technology for Repo Transactions

The Depository Trust & Clearing Corporation (DTCC) and Digital Asset Holdings have announced plans to develop and test a distributed ledger based solution to manage the clearing and settlement of US Treasury, Agency, and Agency Mortgage-Backed repurchase agreement (repo) transactions. Repo trades often occur in real time, with the settlement, clearing and netting processes happening […]

SNB Foreign Currency Purchases Jumped 234% in 2015

The Swiss National Bank (SNB) announced today via its annual report that it spent a total of CHF 86.1 billion buying foreign currency during 2015. “The vast majority of foreign currency purchases… [were] made in January,” says the report, also noting that “during the remainder of the year, the SNB… remained active in the foreign […]