Digital Transformation Should Be Industry, Not Firm, Wide: R3

Enterprise software firm R3 has called for a new, broader approach to digital transformation, which targets entire industries, rather than individual companies. Citing a Broadridge Next-Gen Technology Pulse Survey which found that 97% of companies have benefited from technologies that enable digital interaction and that 99% of companies are now changing their technology strategy and […]
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And Another Thing…

Well Monday’s column put the cat amongst the pigeons – as writing about SNB-Day and re-papering trades always does. I am indebted as always, to those of you who shared and re-lived your experiences, the only pity was we were not in the usual location for the swapping of war stories! The exception, it is […]
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And Finally…

Reading the judgement on the latest leg of the legal action brought by CFH Clearing against Merrill Lynch over SNB-day activities five and half years ago, I find myself thinking that neither party comes out of the affair particularly well. On one hand we have a customer executing without due care and attention; on the […]
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And Another Thing…

We’ll make this quick. The past few days have seen me receive several missives on a bitcoin ‘flash crash’ the weekend before last. I looked it up and as far as I can see the market dropped by around $1000 in quick time and recovered about half the losses. It shows how far bitcoin has […]
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And Finally…

I may have missed something here but I received an email about a retail broker – apparently this firm is “the global leader in online forex trading”, something they may wish to discuss with the thousand or more firms in FX who are not only bigger but probably better, which refers to “50% month-on-month growth” […]
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And Another Thing…

The latest Spotlight Review from the FICC Market Standards Board got me thinking about the waning ethos of “consenting adults” in markets, as well as about a piece of industry infrastructure that could be very useful in monitoring activity in FX markets especially. The Review from FMSB looked at the use of machine learning in […]
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And Finally…

It would be remiss of me, after so noisily calling for the FX industry to do more to support Mark Johnson’s application to the US Supreme Court for a hearing, not to congratulate ACI – The Financial Markets Association, and in particular the US chapter of said association, for its work in delivering a second […]
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The 2020 Readers Choice Digital Markets Awards Winners

The 2020 Digital Markets Awards, voted for by Profit & Loss’ readers, attracted more that 7,000 votes across the categories – a new record for these awards. This year, for the second time, readers were able to vote for three digital assets-related categories, as well as the more traditional FX segments. The results were as […]
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And Another Thing…

I had an interesting conversation with someone this week about competition in FX markets, specifically how in May, pricing in spot markets on aggregators and multi-dealer platforms become much more competitive. In many circles this is seen as liquidity “normalising” meaning spreads inevitably come in, but I think it also shows something else – the […]
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And Finally…

Another week, another move by a player in the FX CLOB space, this time from a primary venue in EBS. Albeit the actual changeover is still 18 months away, but what are we to make of the new matching model at what remains one of the platforms of record in spot FX? Probably the biggest […]
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