Day: 31 May 2017

Oanda Integrates with QuantConnect

Retail FX trading platform Oanda has integrated its Algo Lab solution with QuantConnect’s open-source, cloud-based algorithmic trading engine in order to offer its clients the ability to research, build, test and deploy their own FX trading algorithms directly from the Oanda platform.
The firms say the agreement provides Oanda clients with access to a community of algorithmic and quantitative traders, as well as series of online trading tutorials that could help add a new dimension of discipline to their trading strategy .

Wren Replaces Bridges at NEX

Samantha Wren, currently chief commercial officer for NEX Markets, has been appointed chief financial officer of Nex Group and will join the firm’s board effective immediately. Bridges has stepped down from the role he took up in September 2015 and will leave the firm later this year.
In a separate move, Ken Pigaga, global chief operating officer, has also joined the board of Nex as a director, with immediate effect. “This appointment reflects the recognition of the importance of Mr Pigaga’s role leading the Nex transformation programme and the increased focus by the group on technology and cyber security,” the firm states.

ASIC Calls for More Focused Spot FX Training

The Australian Securities and Investments Commission (ASIC) has released a report to coincide with the FX Global Code of Conduct which seeks to redress shortcomings in behaviour as well as to outline good practice on spot FX desks in the Australian market.
The report, which was compiled following an investigation into local banks’ practices and led to fines against the top five Australian banks, says, “We observed a lack of appropriate training and guidance, particularly in relation to handling confidential information, considering client interests and conflicts of interest, and executing stop loss and fix orders. Training sessions were rarely specific or tailored to the role of employees operating in the spot FX market. We also observed that employees frequently engaged in practices which were learned from their peers without question or challenge.”

ISDA Hires Clearing Specialist

The International Swaps and Derivatives Association (ISDA) has announced the appointment of Ulrich Karl as head of clearing services.
ISDA says the appointment reflects its mission to foster safe and efficient markets, which includes promoting a robust infrastructure for clearing, trading and reporting. Karl joins from HSBC, where he served as director, CCP, global markets. In that role, he acted as the industry chair of ISDA’s Clearing, Risk and Capital Working Group.
In the newly created role, Karl will report to Mark Gheerbrant, ISDA’s head of risk and capital.