Month: January 2020

Follow the Money

Last year saw a number of investments in fintech firms offering FX technology. Galen Stops takes a look at the rationale behind this trend and examines the broader investment landscape. The more eagle-eyed Profit & Loss reader will have noticed that there was a distinct spate of investment deals involving FX-focused fintech firms in the […]

Straits Financial to PoP Spotex

Straits Financial has been named as a prime-of-prime provider to FX ECN Spotex. The agreement enables clients to access FX liquidity via Straits Financial and provides a gateway for brokers to deploy Spotex’s modular technology solutions and includes Straits Financial’s proprietary institutional liquidity accessed via a dedicated Spotex Broker Liquidity Hub. Straits Financial will also […]

UK to Probe Sterling Move Ahead of BoE Rate Announcement

Security around the Bank of England’s decision making process is once again in the spotlight after sterling jumped 15 seconds before the latest monetary policy announcement was made. Late last year it was revealed that a company was using an audio feed from the Bank’s press conferences post announcement to give traders an advantage over […]

Genesis Announces Record-Breaking Q4

Genesis today announced that the fourth quarter was record breaking period for the digital currency trading and lending firm, which originated more than $1.1 billion in loans and borrows for its institutional clients, marking seven quarters of consecutive growth for the firm. Total active loans are up to $545 million, a 23% increase from the […]

BidFX Hires Thomas

BidFX has hired Paul Thomas as director of FX sales. Based in New York, Thomas joins from FlexTrade, where he had been the firm’s head of New York FX business development since 2017. Prior to that, he served as manager of New York FX sales for ED&F Man Group Capital Markets, where he provided dealing […]

Coinbase Launches European Entity for Crypto Custody

Coinbase is expanding its institutional custody solution for cryptoassets in Europe with the launch of Coinbase Custody International, which will be based in Dublin. The new entity will offer the same cryptoasset storage services as the firm’s existing custody offering, Coinbase Custody. “Coinbase Custody International’s mission is to provide the broadest digital asset coverage of […]

Sumitomo Picks Kx for e-FX Platform

Kx, a division of First Derivatives, has been selected by Sumitomo Mitsui Banking Corporation (SMBC) to build and manage its next generation e-FX platform. Under a multi-year agreement, Kx will provide SMBC and its clients with a solution that delivers electronic execution, distribution capabilities, algorithmic trading and risk management supported by real-time pre– and post-trade […]

Wood Joins StanChart as e-Trading Business Manager

Greg Wood joined Standard Chartered on Monday as its new e-trading business manager for FICC, based in London. He reports to London-based executive director, Goncalo Lima. Wood most recently worked in Washington for the Futures Industry Association (FIA) as senior vice president of global industry operations and technology. Prior to FIA, he worked at Deutsche […]

JP Morgan FX Survey Highlights Data Concerns

Although the availability of liquidity remains the biggest daily concern for market participants, according to JP Morgan’s annual e-trading survey, the results also suggest growing concerns about the availability of data and an increased focus on data services. The annual survey, now in its fourth year, invites institutional and professional traders to share their views […]

Jarman Joins BestX

Chris Jarman has joined BestX as head of fixed income sales. Based in London he joins from GAM Investments, where he was previously head of fixed income and FX trading, and will focus on meeting client demand for the new BestX Fixed Income analytics. “Chris brings 16 years of fixed ncome trading and portfolio management […]