Day: 14 July 2016

Pragma Aims to Enhance Transparency with New Database Launch

Pragma Securities has launched TradeBase, a relational database that provides clients real-time access to their parent and child FIX order messages.  The aim of this new database is provide clients with greater transparency when facilitating their risk management, compliance, and monitoring of their algorithmic orders. “Transparency is at the heart of our value proposition, and […]

CLS Volumes Surge in June

The average daily input value submitted to CLS was $5.19 trillion in June, up 12.6% from the previous month and up 3% year-on-year. Average daily input volume submitted to CLS, combining the settlement and aggregation services, was 1.16 million in June. This represents a 20% increase from the 969,061 average daily input volume recorded in […]

‘Cartel’ FX Trader Ashton’s Whistleblowing Claim “Absurd”, Says Former Barclays COO

Chris Ashton’s claim of whistleblowing against Barclays, where he was formerly head of spot FX voice trading, is “absurd”, according to Justin Bull, the bank’s former global chief operating officer. Bull – who co-chaired Ashton’s disciplinary hearing – appeared to testify at the East London employment tribunal Wednesday in the course of the second hearing […]

BoE Surprisingly Maintains Rates at 0.5%, Expects Stimulus Measures in August

In a surprise move the Bank of England’s Monetary Policy Committee overwhelmingly voted to maintain bank rates at 0.5% Thursday, although it said it expects to take some stimulus measures in August. At its meeting ending July 13, the MPC voted by a majority of 8-1 to maintain bank rate at 0.5%, with one member, […]

SGX Suffers Another Outage

Singapore Exchange (SGX) has suffered its fourth outage in the past two years today, the exchange posting a message on its website saying trading was suspended at 11.38 am local time “due to duplicate trade confirmation messages being generated”. SGX says that no duplicate trades were executed and the market “remained orderly”. It adds that […]

Brexit Response Highlights Changing Nature of FX Liquidity

The FX industry proved resilient in the wake of the volatility caused by the Brexit vote while also illustrating the changing nature of liquidity within the market, according to speakers on a Profit & Loss webinar last week. “One of the biggest concerns that came up in terms of liquidity” was related to the fact […]

Spoofer Gets Three Years

Convicted spoofer Michael Coscia has been sentenced to three years in jail by a US court – the first incarceration of its kind in the US. Coscia, head of proprietary trading firm Panther Energy, was convicted last year after he and the firm were banned and fined by the US Commodity Futures Trading Commission (CFTC) […]

Fisher New LBMA Head

Paul Fisher, who is due to retire from his position as deputy head of the UK’s Prudential Regulatory Authority (PRA) later this month, has been named as the next chair of the London Bullion Market Association (LBMA). Fisher, who retires after a 26-year career at the Bank of England, will take up the new position […]

And Another Thing…

Strap yourselves in – this one is a little controversial. Regular readers know I like a good FX industry survey, the semi-annual FX turnover reports, for example, bring out the anorak in me and I spend hours poring over the electronic trading data. It was with interest then, that I read through this week’s report […]

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