EBS Plans Matching Engine Changes as Part of Migration to Globex

EBS is planning to change how clients match on its EBS Market platform as part of a planned migration to CME Globex, including a new matching engine infrastructure. The firm, which was bought by CME Group in 2018, is in the throes of migrating its fixed income BrokerTec platform to Globex later this year and […]
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In the FICC of It

In this week’s podcast, Colin Lambert casts his eye over a new challenge facing Refinitiv Benchmarks over the London 4pm Fix – something he confesses to not have even considered in the past, and then gives his thoughts on a small, but potentially important change at CME Group on its FX Link service. He is […]
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In the FICC of It

The move by Refinitiv to a 5ms data feed on its Spot Matching platform has grabbed Colin Lambert’s attention this week, leading him to call for an open debate in the FX industry over the length of last look windows. With both primary venues at 5ms, is it now the time for platforms to step […]
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P&L Talk Series – Morgan Stanley

The last three months have seen the foreign exchange market faced with unprecedented challenges and while the general sense is that the industry handled matter well, what was it really like in the eye of the storm? Colin Lambert talks to Melanie Cristi, head of FX market structure and client content; Matt Thomas, global head […]
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Refinitiv’s Shirley Barrow – Managing the WM/Reuters Fixes

FX benchmark fixes, specifically the WMR London 4pm “close”, have been in the spotlight recently thanks to price action around and during the fixing windows. Colin Lambert talks to Shirley Barrow, global head of benchmarks at Refinitiv about how WM/Reuters Benchmarks are managed – and what it would take to change In spite of liquidity […]
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In the FICC of It

Data is very much on Colin Lambert’s mind this week, but not in the usual sense. Thursday saw two glitches involving economic data releases, one of which had a comedy element, the other more troublesome, and while he understands mistakes happen, he wonders if we are going to see more of these incidents following the […]
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To Cross, or Not to Cross?

It is one of the oldest questions facing a trader – how best to work out of a position involving two currencies that are rarely, if at all, supported by most market participants. In the deep and distant past, when FX markets were predominantly voice-traded and risk was managed on a deal-by-deal basis, this question […]
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In the FICC of It

On this week’s podcast Colin Lambert is joined by Xav Porterfield, head of research at New Change FX (NCFX), to discuss a new method of measuring execution quality – the unit cost of volatility (UCV). Porterfield explains how the measurement actually derives from a landmark market impact paper in the mid-1990s before the two delve […]
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The True Cost of Trading

At Profit & Loss Dial-in Day Frankfurt, Colin Lambert, managing editor, spoke to David Mercer, CEO of LMAX Group about the true cost of trading in FX markets. In a lively conversation Mercer outlines guidelines for understanding the truecost of trading and along the way talks about the opportunity cost of hold times, the value […]
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Digital Vega Rolls Out Hydra Exotics

FX Options multi-dealer platform provider Digital Vega has rolled out a new exotics platform as it seeks to eat into the dominant share of this market held by the bank single dealer platform. To date, developments in the FX options multi-dealer world have been limited to vanilla products, such as those supported by Digital Vega’s […]
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