And Another Thing…

I was asked by a younger generation market participant the other day, “how have things changed from your time in a trading chair?” The answers are obvious; I sleep in, don’t have the angst that I have to check prices every 30 seconds when I am out for dinner or drinks; and, naturally I can […]
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And Finally…

I’ve been pondering not only the decline in volumes at the primary FX venues, but also what seems to be a struggle on the part of any anonymous venue to really build numbers, and have come to the conclusion that while the slippery slope may not get any steeper, I don’t see many opportunities for […]
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And Another Thing…

Something I get asked quite frequently is why I have such a dislike of last look, after all during my trading career it barely existed and anyone who did regularly “drop” others (that’s reject in modern day idiom) soon got a reputation they didn’t want (or the threat of a visit from some very “tasty […]
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And Finally…

It’s an interesting question to be asked, “why do you dislike customers so much?” I was asked just that when talking with someone (obviously a regular reader!) last week and it prompted a degree of introspection on my part before I answered confidently (is there any other way?), “No”. There is no argument from me […]
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And Another Thing…

Compared to the mayhem of April, the June month-end WM/R 4pm Fix went off reasonably OK – there were no huge moves, just a steady grind lower by the dollar except for against the yen, where it was in demand for the second time that day (the first being the Tokyo rate set at 9.55am […]
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And Finally…

This week sees yet another change in the platform world with, as discussed during our first Dial-in Day in April, Refinitiv Matching releasing a 5ms data stream, bringing it in line with the top feed at EBS Market. This is the latest in a mini-rush of changes at ECN/platform level, following Euronext FX’s change to […]
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In the FICC of It

Colin Lambert flies solo on this week’s podcast, thanks to the sheer weight of news. So the agenda ticks quite a few “Lambert Boxes”, starting with his thoughts over the changing role of the Global Foreign Exchange Committee after this week’s virtual meeting, especially that group mentioning publicly, for the first time in a formal […]
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And Another Thing…

I first wrote about the use of client ‘tags’, especially pre-trade, in 2017; along with last look they comprised a solution that was ripe for abuse by the wrong sort of liquidity provider. You can imagine then, that I was pleased to see that Euronext FX has made the subtle switch of having liquidity consumers […]
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And Finally…

Last week the Mark Johnson case took its latest turn with the filing of a Writ of Certiorari, which effectively asks the US Supreme Court to listen to an appeal against the judgement. This may be the last step along a long and painful road for Johnson, his family and friends, and, indeed, the foreign […]
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White House Watch: The Hazards/Opportunities of Rising Expectations

This Juneteenth, things have really changed, with pollsters saying never before has US public opinion changed so dramatically and so fast as in the 26 days since the gruesome killing of George Floyd. If only history showed that such turning points were typically the beginning of more easily achieved improved circumstances, like for those carrying […]
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