Paul Cusack has joined Deutsche Bank’s FX prime brokerage (FXPB) team in London. Hired as a director, Cusack will report into Dave Reid, managing director, global head of FXPB at the bank. Prior to joining Deutsche Bank, Cusack spent 15 years at Citi, where he was also a director in the FXPB business. Cusack has […]
Although FX as an asset class still offers potential for returns, asset managers are increasingly reluctant to allocate funds towards trading strategies that are only focused on FX trading, said speakers at the annual Profit & Loss Forex Network New York event. On a panel session looking at allocation trends, the moderator observed that the speakers […]
A new report published this week shows that while the median return for crypto hedge funds was a staggering -46% last year, quant funds managed a median return of 8%. The data contained in the report, which was published by PwC and Elwood Asset Management, was collected within the first quarter of 2019 across the […]
Academics speaking at CoinDesk’s Consensus event in New York today appeared doubtful about the economic value of cryptocurrencies. In a panel titled, From Digital Gold to Contract Theory: The Economics of Mainstream Adoption, Joshua Gans, professor of strategic management at Rotman School of Management, said that an economists job, when confronted by new and exciting […]
CFH Clearing is now offering trading in aluminium, copper, nickel, lead and Zinc against USD. This latest development is the first in a series of new products and asset classes being launched by CFH Clearing. The Financial Conduct Authority (FCA) regulated firm says that it has secured pricing for its base metal liquidity as a […]
AllianceBernstein is working with OpenFin, which provides an operating system (OS) to financial services firms, in a bid to help accelerate its digital transformation strategy. In a release issued today, OpenFin says that this collaboration will enable AllianceBernstein to modernise its desktop technology infrastructure, allowing integration and interoperability with legacy and third-party applications without the […]
Arjun Jayaram, CEO of Baton Systems, talks to Profit & Loss about how distributed ledger technology (DLT) is already helping the FX market, why the hype cycle around this technology is coming to an end and who he expects to win the “blockchain wars”. Profit & Loss: What is the problem in the FX market […]
The average daily volume (ADV) of FX trades submitted to CLS in April was $1.63 trillion, down 12.5% from the $1.86 trillion reported in March 2019. This is consistent with previous reports from Profit & Loss showing that the multibank FX trading venues which publicly release their volumes all saw double digit decreases in percentage […]
Following on from an improvement in February and a strong March, April has been another positive month for CTAs, according to the latest data by Societe Generale (SG) CTA indices. The SG CTA Index was up 2.76% in April, bringing it firmly into positive territory for 2019 year–to–date, to up 4.74%. The strong performance has […]
IS Prime has extended its multi-asset liquidity distribution through a partnership with Integral. IS Prime’s FX and index swaps liquidity is now available through Integral’s OCX platform. Index swaps are IS Prime’s proprietary product, delivering pricing and execution on indices and commodities globally. “IS Prime is an exciting addition to the Integral OCX marketplace and […]
