Julie Ros

CME to Launch FX Monthly Futures

CME Group will expand its suite of FX derivatives with the launch of six FX monthly futures next month, providing clients with access to the front months of the FX forward curve.

The new contracts are in addition to the existing quarterly futures and will cover EUR/GBP, as well as five major currency pairs against the US dollar: AUD; GBP; CAD; EUR and JPY.

Subject to regulatory approval, the new instruments will be available for trading on CME from 27 February.

The monthly contracts are launching on the pairs where CME is seeing the most activity and demand. Currently the group offers over 90 FX futures and more than 30 FX options.

NEX Completes Sale of Voice Broking to Tullett Prebon

The sale of ICAP’s globally hybrid voice broking and information business to Tullett Prebon, now named TP ICAP (TP Icap), which includes the associated technology and broking platforms and certain joint ventures and associates, has completed today. The remaining business, which includes EBS BrokerTec, as well as Traiana, will remain under the newly named NEX Group (Nex). The board of NEX also announces that the Share Consolidation will become effective with effect from Admission today, at which point the total issued ordinary share capital of NEX will be 379,735,432 ordinary shares of 17.5 pence each.

Icap Names Johnson CEO of EBS BrokerTec to Succeed Mandelzis

ICAP plc (Icap), this morning announced that Seth Johnson, currently head of strategy at its global broking division, has been appointed CEO of EBS BrokerTec, taking over from outgoing CEO Gil Mandelzis who, as announced on 21 July is leaving Icap.

Johnson had previously held the role CEO of BrokerTec, but in late 2014, stepped aside when Mandelzis, then head of EBS, was handed the business as CEO of a newly combined EBS BrokerTec.

As head of strategy for global broking, Johnson has been responsible for growing revenues, improving the application of technology to the company’s business model, and expanding customer coverage. He previously led the expansion of Icap’s electronic markets product portfolio as chief executive officer of BrokerTec and CEO of the Icap Securities & Derivatives Exchange (ISDX), the company says.

Four Barclays Veterans Depart FX Team

Sources tell Profit & Loss that four veterans of Barclays’ FX division have been made redundant by the bank as part of wider cuts across the business. Vincent O’Sullivan, Marek Robertson, Marcello Cavalcanti and Martin Richards have all left the bank in London, sources say. Barclays declines to comment.  Robertson, who was managing director, head […]

EBS Restructuring?

Less than a year after EBS BrokerTec announced a new management structure, it appears to be in the process of retooling. Sources tell Profit & Loss that Phil Harris, head of EBS Market, and David Lyons, global head of EBS Hedge, have both left the firm. Both were New York based. Last summer, EBS BrokerTec […]

Is FX Sailing into Another Storm?

Recent years in FX have been nothing if not challenging, and the future isn’t going to be plain sailing either. That’s if you take the word of James Kemp, managing director of the global FX division at the Global Financial Markets Association (GFMA). Kemp addressed delegates at Bloomberg’s FX16 conference in London on Thursday, splitting […]

Thomson Reuters Reports Growth in Volumes, Connections

The number of FX market participants publishing and receiving trade notifications on Thomson Reuters trade notification network has grown 50% year-on-year through February 2016 as industry participants seek to realise the benefits of increased transparency and reduced costs and errors from automated trade notification and straight-through processing (STP).   Thomson Reuters Trade Notification (TRTN) has […]

EBS Market Moves to Real-Time FX Market Data

EBS BrokerTec announces today that it is redesigning its FX market data service, EBS Live, and will move to streaming real-time market data. The ‘EBS Live Ultra’ feed will provide “significantly improved price discovery and transparency, enhancing EBS BrokerTec’s status as the premier venue for market reference data in its core pairs”, the firm says.  […]

FastMatch Introduces Symmetrical Last Look Rule

FastMatch is introducing rules that will require all liquidity providers to use only a “symmetrical last look” practice on its ECN. The new operating procedures are designed to “make FX institutional markets more transparent and operate a fair marketplace”. The new procedures go into effect on February 1st, 2016. “We are introducing these new operating […]

Silverman Joins Cantor

Howard Silverman, one of the founders of Hotspot FX, is joining Cantor Fitzgerald shortly as a managing director, sources say. Silverman is spearheading the development of a new FX exchange for the firm, these sources say. He reports to James Reilly, senior managing director and global head of FX sales and trading. Silverman left Hotspot, […]

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