Day: 20 November 2019

JPM FX Trader Guilty in Price Fixing Case

Former JP Morgan FX trader Akshay Aiyer has been found guilty by a New York jury of price fixing relating to his activities in various Bloomberg chatrooms in which he colluded with other traders to manipulate markets, prices and spreads to clients, according to a report by Law360. The jury convicted Aiyer after a short […]

Citi Launches B2B Cross-Border Payments Platform

Citi has launched a new cross-border, business-to-business payments platform that aims to “digitise” the transaction process and includes FX capabilities. The platform, called Citi Global Collect, is a collaboration between the bank’s treasury and trade solutions (TTS) and FX businesses, and is designed to make it easier for multinational clients to collect funds from overseas […]

Capitolis Secures $40m Investment

Capitolis has raised $40 million as it completes its Series B round of funding, which was led by Spark Capital and SVB Capital. Existing investors, Index Ventures, Sequoia Capital and S Capital also participated in the round, bringing the total capital raised to date to $70 million. Capitolis says that this latest funding will support […]

Time to Embrace the Data Revolution

The winds of change have begun to blow in the world of FX swaps, and as a result it’s becoming increasingly apparent that knowledge — in the form of accurate market data — truly is power. Today, whether pricing or hedging FX swap trades, banks are still relying on market data feeds that are merely […]

Tradition Brokers First AUD/USD Swap Trade on LCH SwapAgent

Tradition has facilitated the first brokered AUD/USD cross-currency swap trade using LCH SwapAgent, a service designed to simplify the processing, margining and settlement of non-cleared derivatives. The AUD/USD trade was executed between Mitsubishi UFJ Financial Group (MUFG) and another counterparty on November 20. Nathan Ondyak, global head of LCH SwapAgent, comments: “Since launching in 2017, […]