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Jail Time for Singapore Spoofer A Singapore man has been sentenced to 16 weeks’ imprisonment for spoofing contracts for difference (CFD) markets in the city state.
AtlasFX Adds Transaction Exception Analyser Risk management solution provider AtlasFX has added the Transaction Exception Analyser to its cloud-based FX risk and analytics engine.
Amundi Live on CDSClear Clearing house LCH has announced that its first European buy-side client is now live on CDSClear with Amundi now clearing credit default swaps (CDS) at via its clearing broker BNP Paribas. LCH says it has seen activity on its service grow significantly in recent months and that CDSClear now has 13 active clearing members. From Q2 2017, end-users trading CDS will be able to connect via two additional clearing brokers, which will be offering clearing through LCH SA, the firm adds.
New Hedge Fund Index Seeks to Measure Strategy Beta Investable index provider BRI Partners has rolled out what it terms the “next generation of hedge fund indexes” with the launch of the BRI Long/Short Equity Index, calculated by Wilshire Associates. BRI says the strategy is the first of eight strategies that will be rolled out across the coming months, and that the new indices are unique because unlike existing hedge fund indices, the firm’s do not measure the performance of hedge fund managers and, therefore, do not rely on managers to provide a snapshot of month-end results.
City Man Completes 300 Mile Walk for MND Thom Lant, a former marketing and PR executive at CME Group, Nasdaq, and LME, has completed an epic 300 mile walk in 15 days, re-enacting the historic Jarrow March to raise awareness of and funds for the Motor Neurone Disease (MND) Association. Supporters of the City Against Motor Neurone Disease Network, a group for those working in and around the City of London who have in some way been touched by MND, welcomed him as he finished in Leadenhall Market.
SGX Must Improve Operational Resilience – MAS The Monetary Authority of Singapore (MAS), has directed the Singapore Exchange (SGX) to implement measures to enhance its recovery processes and operational resilience. The directive comes after a supervisory investigation into the trading disruption that occurred in the market on 14 July 2016. The measures include recommendations by the Industry Working Group (IWG), which comprises SGX and industry stakeholders. SGX will contribute $1.5 million to co-fund the costs that may be incurred by brokerage firms to implement the IWG measures.
Former Fed Chief Dealer Launches Macro Firm Profit & Loss understands that Niall Coffey has formed Avoca Global Advisors, a new global macro firm out of Westport CT. Sources familiar with the matter say that Coffey will seek to launch a hedge fund later this year. Coffey was chief dealer in the Federal Reserve Bank of New York's foreign exchange department during the global financial crisis, with responsibility for US currency related trading operations and advising senior Federal Reserve and US Treasury officials on international market developments.
ACI Commits Members to FX Global Code ACI – The Financial Markets Association has announced that 2017 it is mandating its 9,000 members to explicitly commit to the FX Global Code of Conduct, the complete version of which will be released on May 25. “In the three years since the process began to develop a single, global code of conduct for the FX market, the Foreign Exchange Working Group (FXWG) and Market Participants Group (MPG) have made enormous strides forward,” says Brigid Taylor, managing director of ACI.
TradAir Hires Liber Gabriela Liber has joined TradAir in London as director of liquidity management.
Two More Australian Banks Settle FX Claims ANZ and Westpac have both accepted enforceable undertakings (EU) from the Australian Securities and Investment Commission (ASIC) relating to control failures in their global FX businesses. In December, the other two “majors” in Australia, CBA and NAB, each paid AUD 2.5 million after accepting similar charges. Both ANZ and Westpac will both make a “community benefit payment” of AUD 3 million to support the financial capability of vulnerable people including women experiencing family violence, the elderly and youth at risk, ASIC says.