Day: June 6, 2019

Swiss Authority Fines Banks Over FX Manipulation

The Swiss competition authority, the Competition Commission, has become the latest jurisdiction to levy fines on six banks related to their dealers’ activity in several chat rooms. COMCO says it has detected several anti-competitive arrangements between banks in foreign exchange spot trading and concluded “amicable” settlements and imposed fines of around CHF 90 million. Therefore, […]

Primary Venues See FX Uptick in May

Data from three primary FX venues has confirmed earlier releases from platforms indicating that while spot FX activity rebounded in May from a poor April, it remains lower around 20-25% lower year-on-year. Refinitiv says its platforms handled $86 billion per day in May, up 6.2% from April but down 19.6% from May 2018 and it […]

Spotex Hires Gillespie for Eurozone FX Sales

Spotex, a developer of FX technology systems and ECN, has hired Kevin Gillespie as director of institutional sales. In his new role, Gillespie, who is based in London, is set to cover institutional and broker clients as well as banks, primarily in Europe. Reporting to John Miesner, executive managing director and global head of sales […]

Mosaic Appoints Oxford Professor as Scientific Advisor

Mosaic Smart Data, a capital markets-focused data analytics company, has appointed Oxford University professor of mathematical finance, Rama Cont, as scientific advisor. In this role Cont will work directly with Mosaic’s data science team to make the latest in data science technology available to Mosaic’s customers, as well as guiding the firm’s R&D activities. Cont […]