Day: December 2, 2019

Platform Volumes Suggest November Slowdown

Trading activity was down last month across the first set of FX trading platforms to publicly report their volumes. FXSpotStream reported an average daily volume (ADV) of $31 billion on its platform for November, down 7.2% from $33.4 billion the previous month and down 12.9% year-on-year. Cboe FX had an ADV of $28.5 billion last […]

24 Exchange Goes Live

24 Exchange, a new offshore OTC trading platform launched by former FastMatch founder and CEO, Dmitri Galinov, is now live and open for trading. The first product available for trading is FX NDFs, although in a release issued today, 24 Exchange says that it expects to soon begin offering trading in additional FX derivatives and […]

XTX Hires Webber

XTX Markets announced that Andrew Webber has joined the firm’s global distribution team. Based in London, Webber arrives after more than two years with BNP Paribas, where he was head of e-FX client analytics. Prior to that, he was a quantitative trader at Sun Trading and Deutsche Bank, where he covered both FX and interest […]

Avelacom Connects to HKEX

Avelacom, a provider of global connectivity and IT infrastructure, has enhanced its high-speed network performance and joined Hong Kong Exchanges and Clearing Limited’s (HKEX) ecosystem of network service providers. To facilitate low latency access to HKEX markets for financial services firms across Europe, the Americas and APAC, Avelacom has added another point of presence (PoP) […]

Legal & General Selects Charles River

Charles River Development, now owned by State Street, has announced that Legal and General Investment Management (LGIM), with over £1 trillion in assets under management, has selected the Charles River Investment Management Solution to streamline its global trading operations. Building on LGIM’s initial adoption of the cloud-based Charles River IMS for pre- and post- trade compliance, […]

Currencies in Competition

On first glance there appeared to be few significant changes of note when looking at the currency-specific data in the latest BIS survey. But scratch beneath the surface and this data asks some important questions, says Galen Stops. Looking at the data regarding the currencies themselves in the latest OTC FX turnover survey from the […]

And Finally…

This week sees the Global FX Committee meet in Sydney for a meeting that is largely going to focus on the subject matter for the first three-year review of the FX Global Code. I will be very surprised if the key themes for the review are not buy side engagement, disclosures, anonymous trading and certain […]

Institutional Crypto is Coming

Major financial institutions will move into the crypto space, despite the fact that many of them have avoided it thus far, argues David Mercer, CEO of LMAX Exchange Group, in a new video interview with Profit & Loss. “We’d be kidding ourselves if we said the last 12 months haven’t been static in crypto land,” […]

Credit Suisse Deploys Trading Exception Management Solution

Credit Suisse has announced the internal launch of AccessFintech’s trading exception management solution, taking, the bank says, an important step towards streamlining exception management resolution across the prime brokerage industry. It adds the new technology will reduce the time needed to resolve exceptions and help clear bottlenecks that could prevent trade settlements as well as promote better […]

Crypto Custodian Expands Connections

London-based Copper, a custodian for digital assets, says it has expanded its Walled Garden infrastructure and is now connected to the top 15 crypto exchanges, thus providing its customers with access to a larger liquidity pool. The company says its trade and settlement volumes have increased 50% month-on-month, and that it has processed $500 million […]