Cappitech Rolls Out RTS 28 Intelligence Tool

Cappitech has announced the launch of RTS 28 Market Intelligence, a product that the firm claims allows financial institutions to use regulatory compliance data to their own advantage by assessing firms’ best execution capabilities across all asset classes and benchmarks performance to the industry average. The new product enables asset managers to optimise performance by […]
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CLS Volumes Tick Up in March

The average daily volume (ADV) of FX trades submitted to CLS was $1.86 trillion last month, up 8% compared to February but largely flat compared to March 2018. The ADV of spot trades submitted to CLS was $439 billion, up 9.2% month-on-month and but down 8.5% year-on-year. The ADV of swaps was $1.31 trillion, up […]
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Mesirow Adds to Currency Management Team

Mesirow Financial has added two to its staff roster in its currency management unit with the hires of Aaron Wham and Mike Emambakhsh As a senior vice president, senior portfolio manager, Wham will help launch Mesirow’s new Seattle office where he will focus on implementing the team’s investment strategy and portfolio management functions. He joins […]
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Coalface Capital Chooses NCFX for Pricing

Coalface Capital, a fintech firm focused on using artificial intelligence (AI) technology in the investment management sector, has selected New Change FX (NCFX) as the pricing provider for its automated trading system. NCFX provides live mid-rates across 2,500 spot pairs and 8,500 different forward tenors. “We conducted a review of possible providers of “true-mid” pricing […]
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FlexTrade Partners with OpenFin

FlexTrade has announced a partnership with OpenFin that provides application interoperability and improves workflow management for buy-side traders using FlexTrade’s execution management system, FlexTrader, and its cloud-based trading system, FlexNow. The firms say that technology updates across trader desktops can prove time and cost intensive as a result of the multitude of independent desktop applications used throughout […]
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Deutsche Börse in Talks with Refinitiv Over FX Business

Deutsche Börse Group confirms that it is in talks with Refinitiv regarding the possibility of buying its FX-related businesses. In a statement issued today, a Refinitiv spokesperson confirms that the company is in “ongoing discussions” with the German-based exchange operator for a deal “which could include the divestiture of certain of its FX products”. This […]
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ISDA Survey Highlights Close Out Netting as Crucial Factor in Derivatives Growth

Trading volumes in Asia’s derivatives markets are expected to increase, but achieving certainty on close-out netting is identified as an important factor in driving further development of local markets, according to a new survey of derivatives market participants active in Asia-Pacific, published by ISDA to coincide with the start of its Annual General Meeting (AGM) in Hong Kong. Nearly three quarters of survey respondents expect the proportion of foreign exchange derivatives trading executed in Asia ex-Japan to increase over the next three to five years, while 63% predict an increase in the share of interest rate derivatives traded in the region
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TradeStation Selects Deltix’s Platform for Crypto Service

TradeStation Crypto will use the institutional cryptocurrency trading platform CryptoCortex, provided by Deltix, to launch its online brokerage service later this year, the company announces.TradeStation Crypto is a subsidiary of TradeStation Group, which offers brokerage services to individuals and institutions trading in the equities and futures markets. Deltix provides software and services for quantitative research, automated and algorithmic trading and execution analytics across equities, futures, options, FX, fixed income and cryptocurrencies.By introducing the Deltix platform to a fragmented crypto market, TradeStation Crypto says that it plans to target traders seeking improved price discovery and deeper liquidity.
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Rupan Joins LMAX Exchange

LMAX Exchange Group has appointed Randy Rupan as head of liquidity analysis. Based in New York, Rupan will report into Jeremy Barnes, global head of liquidity management.He joins LMAX Exchange from 360T, where he worked as head of spot FX for the Americas since May 2018. Prior to that, he spent six years at FastMatch, where he was head of institutional liquidity management, and nine years at FXCM, where he was last a vice president doing business development for the firm.
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EC’s Updated AI Plan Still Attracts Criticism

The European Commission has published an update outlining the next steps for its efforts to build trust in AI and machine learning by creating what it terms “a European approach to artificial intelligence”. The plans have attracted criticism from the Center for Data Innovation, a non-profit research institute. In 2018 the EC established a High-Level Expert Group (HLEG), which was tasked with creating policy and investment recommendations to help the Commission deal with the technological, ethical, legal and socio-economic challenges that can arise from the broader use of AI. Upon launch, the EC said it wanted to strengthen the EU’s competitiveness in this area.
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