Day: 6 July 2016

FX TCA: Easy to Do Wrong, Hard to Do Right

Although the clamour for transaction cost analysis (TCA) tools is growing amongst buy side firms, they face numerous challenges if they are going to use them effectively, said panelists at Profit & Loss’ Forex Network New York conference.  “Best execution has never been more in focus, and there are two main reasons for this,” said […]

EBS Volumes Down YoY in June, but up MoM on Brexit

Icap’s EBS average daily volumes (ADV) were down 3% year-on-year in June, standing at $97.4 billion, the firm reports. However, volumes were up sharply on a month-on-month basis in June, rising by 29% compared to May. The movement was partially driven by the Brexit referendum, with G3 average daily volumes increasing by “over 100% in […]

AIMA Outlines Brexit Impact For UK Funds

The Alternative Investment Management Association (AIMA) has released a note outlining the various possible effects of a Brexit. “There will not be a single impact on the UK investment management industry – rather it will affect individual firms in different ways, depending on the extent to which they are UK/global or EU focused, the types […]

FXCH Begins Clearing Spot FX Via the Blockchain

Irish-based startup FXCH claims to have cleared the first ever institutional spot FX transaction via the blockchain last Friday. The newly established clearing house, a member-based financial utility for spot FX clearing, says that it accepted and novated its first trades from e-FX trading platforms using a distributed ledger for settlement. This means that members, […]

Liquidity an Issue Again in Further Cable Collapse

Liquidity in FX markets is again a hot topic following a sharp move lower by Cable in Asian trading. In the space of a minute sterling dropped from 1.2930 to under 1.2800 – market sources say liquidity is very thin and exacerbating the move. Cable opened the Asian session above 1.3000 but has fallen in […]

CME FX Volumes Up, Moex Flat in June

CME Group says that it handled average daily volume of 1.018 million FX contracts in June – a sharp rise on May and slightly up year-on-year. It was a less positive picture at Moscow Exchange (Moex), however, as its FX complex was largely by-passed during the Brexit market volatility. Profit & Loss estimates CME’s FX […]

Cable Below 1.3000 as Brexit Woes Start to Bite

Cable has fallen below 1.3000 for the first time since June 1985 in early Asian trading, hitting a low of 1.2950. The selling is a continuation of the downtrend triggered by the continued fallout from the UK’s vote to leave the European Union. Yesterday saw a weak business confidence poll released and a dovish speech […]