Day: 3 May 2017

EBS BrokerTec Re-Brands as Nex Markets

NEX Group (Nex) has announced that its EBS BrokerTec business has been renamed Nex Markets, effective immediately.

Four business lines were created when Nex was launched on 30 December 2016: Nex Markets, Nex Optimisation, Nex Opportunities and Nex Exchange.

EBS BrokerTec previously sat as a sub-brand within the Nex Markets business line. As a result of the rename, Nex will no longer use EBS BrokerTec and the entire business will be known as Nex Markets.

The business will retain its current service names for its FX and fixed income platforms; EBS and BrokerTec.

Survey: Oil to Drive Ruble Price in 2017

The biggest issue facing the Russian ruble in 2017 is the price of oil, according to a Bloomberg survey of FX executives released today.

Of those polled, the majority (or 51%), say oil prices will have the biggest effect on the currency, with 83% of the executives saying that they feel that the ruble will be more correlated to oil than emerging markets currencies this year.

Of less concern in relation to the ruble were Russian Central Bank policies and geopolitics, which only 22% said they were concerned about, and just 5% of respondents said that they are concerned about US interest rate hikes.

Exploring Correlations Between the Yen and Nikkei

SGX has released an article looking at whether the long-standing assumption that the Japanese yen is inversely correlated with Japanese equity indices, and what this means against the current geopolitical outlook.

Conventional wisdom maintains that that a weakening yen leads to stock gains, with benchmarks such as the Nikkei 225 and the Topix Index strengthening as a result.

According to the data presented by SGX, although the correlation between the Nikkei 225 Index and the Japanese yen fluctuates daily, historical evidence over the past four years shows that the inverse correlation theory holds true most of the time.

C-View: “We Know Where the Bodies are Buried”

Speaking at Profit & Loss’ Forex Network London, Paul Chappell, CIO of buy side firm C-View, explained how liquidity trends are being negatively impacted by the Fix scandal.

In a featured new segment introduced at Profit & Loss’ Forex Network London called BURSTS, Paul Chappell, CIO of buy side firm C-View, sought to explain liquidity trends in the FX market in the context of the recent scandals that have plagued the industry.

In this TED Talks-styled presentation, Chappell sought to address why there are, in his opinion, only a few genuine market makers left in the FX market that everyone else prices off, and why currency managers have seen their returns significantly reduced.

Invast Global Adds Lucid

Invast Global has announced a new partnership with Lucid Markets, meaning clients of the Invast Global multi-asset prime services facility, PurePrime, will have access to proprietary FX pricing from the market making firm.
The partnership with Lucid expands PurePrime to over 20 unique FX and metals liquidity providers including names such as Citadel Securities, XTX Markets and Virtu Financial. “This line-up represents a new era of access for clients,” Invast Global says. “Never before have clients without direct Tier 1 prime brokerage relationships been able to access the liquidity provided by the non-bank market-making giants.”