Day: April 5, 2019

Refinitiv Hits New Peaks as Platforms Confirm March Rebound

Data from CME Group, Integral Development and Refinitiv, which reports a new high in average daily volume (ADV), confirms the picture established by three other platforms earlier this week of a rebound in March FX volumes.
CME Group says its FX futures and options franchise handled 1,042,000 contracts per day in March, which Profit & Loss estimates to be just over $103 billion in notional volume. This is a 36% increase on activity in February, but is 7% down year-on-year, it is also CME’s busiest month in FX since September 2018.

Knight to Depart Citi

Alex Knight is leaving his position as a director and global head of sales and client coverage for FX prime brokerage (FXPB) at Citi. Knight had been with Citi for 18 years, having previously worked for the bank in Sydney and Singapore, was most recently based in London. Prior to joining Citi, Knight worked as a sales director at SS&C Technologies.Although a spokesperson for Citi declines to comment on Knight’s departure, Profit & Loss understands that it is the result of a broader re-organisation within the bank, which has seen the sales team for its Prime, Futures and Securities Services (PFSS) business become more closely aligned with the Equity Markets business and its global products.

Ensemble Capital Signs with Numerix

Singapore-based absolute return global AI fund Ensemble Capital, has gone live with Numerix’s Oneview Asset Management solution for risk and portfolio management.
Founded by former JP Morgan FX option traders Atsuo Ogaki and Damien Loh, Ensemble Capital uses machine learning and deep learning AI algorithms to analyse market data, forecast moves and trade currency and currency options in order to generate uncorrelated returns to traditional asset classes. Ensemble’s proprietary AI models instil discipline and provide a systematic approach to markets.