Day: February 12, 2019

RBA Report Casts the Net Wide in Seeking Flash Crash Answers

A report in the Reserve Bank of Australia’s Statement on Monetary Policy looks at the flash event in FX markets on January 3 when the yen appreciated some 3% in a matter of seconds before falling back, but fails to discern a single factor behind the move.
Citing the fragmentation of the FX markets across an increasing number of different platforms, the RBA says “it is difficult to draw firm conclusions on the cause of the flash event”, adding that three factors are likely to have contributed to what it terms the “brief deterioration in market conditions”.

Digital Vega Makes Two Senior Hires

Digital Vega hired Simon Lewis as head of interdealer solutions and Romain Camus as head of exotic options.Prior to this role, Lewis spent 20 years at Tullett Prebon, building an exotic options desk from scratch and ultimately being appointed as global head of FX options until leaving the firm in 2016.Camus joins from VTB Group, where he was executive director, head of FX structuring. He previously worked at Goldman Sachs and Deutsche Bank as a structurer.
“We are very pleased to welcome Simon and Romain to our growing team. They bring extensive domain knowledge, many years of experience working in our core markets, and valuable contacts that will help to fuel our development,”

JP Morgan Makes Algo Central Available Via Bloomberg

JP Morgan has made its execution services tool for FX algos, called Algo Central, available on the Bloomberg App Portal.Bloomberg Terminal subscribers globally can access the Bloomberg App Portal, so by making Algo Central available on the portal, JP Morgan is offering additional choice of where its clients can access its FX algo execution tools. Algo Central, previously only available via the JP Morgan Markets Execute platform, provides access to the firm’s pre-trade, real-time, and post-trade analytics and allows investors to manage multiple algo strategies simultaneously.Richard James, co-head of macro markets execution at JP Morgan, says: