Month: January 2020

In the FICC of It

There is plenty on the run sheet for this week’s podcast as Galen Stops quizzes Colin Lambert over a report that links FX swaps liquidity and spreads to spot. Lambert confesses to being a little puzzled over some of the statements in the report and willingly confesses to Stops’ accusation of him being an FX […]

Global Exchange Traded FX Growth Anemic in 2019

The volume of exchange traded currency futures and options traded in 2019 grew just 0.2% compared to the previous year, according to new data from the Futures Industry Association (FIA). In total, 3.9 billion currency futures and options were traded on exchanges last year. This means that in percentage terms, this segment – which accounted […]

Geopolitics Drives Record 2019 FX Volumes for SGX

SGX saw record volumes in its FX futures during 2019, which it credits to heightened trading activity due to geopolitical factors. The exchange is reporting aggregate FX volumes of $1.3 trillion for 2019, up 44% from $914 billion in 2018, with a total of 23.5 million futures contracts traded on its platform last year, a […]

UK Ups the Ante on Libor Transition

The Bank of England and the Financial Conduct Authority (FCA) have redoubled their efforts to get what appears to be reluctant financial markets participants to move away from using Libor as a benchmark, citing 2020 as a “critical” year for the transition process as markets move towards the end of Libor in 2021. In a […]

StanChart Adds to London Trading Team

Alishah Gowani is joining Standard Chartered’s London trading team, trading Asian NDFs, and will be reporting to Wesley White, macro trading head for Europe, according to sources. Gowani, who reportedly starts next week, joins from Mizuho Bank, where he spent the last two years, serving as head of FX trading, specialising in NDFs and EM […]

IS Prime Gets Hong Kong Licence

IS Prime Hong Kong, part of ISAM Capital Markets, has been granted a Type 3 Leveraged Foreign Exchange Trading licence by the Securities and Futures Commission (SFC) in Hong Kong. The licence enables the firm to offer leveraged FX trading services to institutional professional investors. The named Responsible Officers are Will Robbins, head of Asia […]

Trad-X Launches Dealer to Client e-Platform

Tradition Brokers’ interest rate derivatives platform Trad-X has launched what it claims is the industry’s first dealer-to-client (D2C) pure electronic central limit order book (CLOB) and completed a number of live transactions between dealers and non-dealers. The firm says that Aegon Asset Management became the first buy-side institution to execute a euro IRS trade on […]

And Another Thing…

Today’s column is dedicated to the Swiss National Bank for its ineptness five years ago yesterday, which changed the foreign exchange industry forever and gave this column literally months worth of ammunition. The SNB is a signatory to the FX Global Code, so given the guidance on disruptive actions, I wonder how it would handle […]

Wells to Head FX Swaps Strategy at 360T

Deutsche Börse’s 360T has appointed Gavin Wells as head of swaps strategy. Starting at the beginning of February, he will be based in London and report to Simon Jones, chief growth officer at 360T. Wells has previously run FX trading at Citigroup, led ForexClear at LCH and most recently was head of Europe at Digital Asset […]

Can Symbiont’s Blockchain Solution Change How FX Trades?

For many years, Symbiont deliberately avoided touching FX. But now, having partnered with Vanguard, it is building a decentralised network for FX trading that it claims could represent a major inflection point for the industry. Galen Stops reports. One thing that the team at Symbiont, a blockchain technology company founded in 2013, are adamant about […]