David Puth, now a strategic advisor at R3, makes the case that the FX industry’s ability to constantly evolve makes it unique amongst financial markets. Profit & Loss: As you look back over the past 20 years of FX, what stands out in your mind with regards to the evolution of this market? David Puth: […]
So the wait is over for Mark Johnson, his family and friends, and the news is not good, as we reported last week. There is not a lot to say about this from his perspective, thankfully most, if not all, of us have no idea what it is like to be incarcerated, we can only […]
The US Commodity Futures Trading Commission (CFTC) has issued two orders filing and settling charges against inter-dealer broker Tullett Prebon Americasrequiring the firm to pay a total of $13 million for failing to supervise employees and making false or misleading statements to CFTC staff. The first order requires Tullett to pay an $11 million civil monetary […]
Although there was plenty of news for Profit & Loss’ managing editor, Colin Lambert, and editor, Galen Stops, to get their teeth stuck into this week, the duo focused on just three main stories. First of all, they discuss the news that former HSBC head of cash FX trading, Mark Johnson, has lost his appeal […]
Vikas Srivastava, chief revenue officer at Integral, talks to Profit & Loss about why the software-as-a-service model is increasingly gaining traction in FX, and how it might prove to be a democratising force for the industry. Profit & Loss: What’s the biggest technology challenge you see FX firms facing today? Vikas Srivastava: One of the […]
The board of the London Stock Exchange Group (LSEG) has unanimously rejected the unsolicited offer made earlier this week by Hong Kong Exchanges and Clearing (HKEX) to acquire the entire share capital of LSEG. “The board has fundamental concerns about the key aspects of the Conditional Proposal: strategy, deliverability, form of consideration and value,” says […]
It’s been a busy 20 years since Profit & Loss launched. Colin Lambert and Galen Stops have picked out 20 key events or trends during that time and asked senior industry figures for their perspective on them – here’s numbers 15-11. 15. Last Look “Last look is a cancer at the heart of the foreign […]
Refinitiv says that the adoption of execution algorithms by buy side traders on its FXall platform increased 41% year-over-year in the second quarter of 2019, following continued investment in the platform’s algo trading capabilities. This year, FXall introduced the ability for users to slice algo tickets into several “child” orders, giving them more flexibility to […]
AcadiaSoft, a provider of risk and collateral management services for non-cleared derivatives, has appointed John Shay as its new board chairman. Shay succeeds Howard Edelstein, who had served on AcadiaSoft’s board of directors since the founding of the company in 2009. Shay founded and currently serves as managing partner at Capital Market Services, a clearing […]
Tassat, a technology provider for traditional and digital asset markets formerly known as trueDigital, has partnered with AlgoTrader to provide institutional clients with its automated, quantitative trading software. This will include direct access to Tassat’s cryptocurrency derivatives that the firm says will soon be available on a regulated exchange. The first derivatives product that Tassat […]
