Day: 1 March 2018

InTouch FX Expands into North America

Market intelligence provider InTouch FX, part of the InTouch FX Capital markets Group, has expanded its coverage to cover North American hours with the hire of Adrian Thong who will lead the service.
Thong joins after a long career in trading and portfolio management. He spent 18-years at Citibank, where he traded a variety of products and helped develop the bank’s electronic NDF pricing platforms. He has also worked at a LatAm-focused hedge fund and more recently at broker GFI.

And the Pendulum Swings Back

Institutional investors have long understood the value of diversifying their portfolios, and this usually means investing internationally.

But when they buy foreign equities, they’re actually buying two portfolios, the first being the long equities denominated in their base currency, and the second is that they’re shorting their base currency against the foreign currency they need to purchase the equity.

This presents institutional investors with a choice: they can do nothing and accept the risk of holding this foreign currency, hedge that currency exposure passively or manage it actively.

And Another Thing…

It’s time the FX industry started looking at the FX Global Code through a different lens – from the bottom up. I am told about 80% of major market participants have signed a Statement of Commitment – although finding them all on the many registers is difficult – so as well as celebrating that fact, let’s start looking at those who haven’t signed. And while we’re at it, how about looking at how we deal with the inevitable breaches when they come?

New Peaks for Cboe, GTX as Platforms Report February Data

The first three platforms have reported average daily turnover (ADV) data for February, with CboeFX (formerly HotspotFX) and Gain’s GTX hitting new peaks and Euronext’s FastmatchFX seeing its second busiest month. ADV at CboeFX was $44.20 billion in February, exceeding January’s then record month by 3.75% and up a huge 63.7% from February 2017. Gain’s GTX saw ADV of $16.1 billion, up 15.8% month-on-month, 45% year-on-year and again a new record for the platform. FastmatchFX reports ADV of $21.1 billion, a 1.4% increase from January and 27.1% higher year-on-year.

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