BestX Unveils Fill Position Metrics

BestX has rolled out its Q1 technology release, included in which is a new fill position metric for FX traders, a product that the firm believes adds another valuable dimension to analysing the performance of algos. To compute the metric, BestX takes tick data during the execution window and then compares that to the prices […]
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BGC Hires Reidy; Hirschhorn Exits

Changes at the top of the technology stack at BGC Partners have seen the departure of Eric Hirschhorn, CIO, and the hire of Paul Reidy, formerly COO at CboeFX Global Markets, as senior managing director, head of brokerage technology, sources familiar with the matter say, adding that the former co-head Steve Sadoff has assumed sole […]
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FX Platforms Hit New Peaks in March

As expected, FX platforms saw a leap higher in average daily volume (ADV) during the market’s version of March Madness, with the first five to report data hitting new highs as well as establishing new individual day records. Deutsche Borse’s 360T reports spot FX ADV of $36.9 billion, a 36.2% increase from February, which was […]
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Hodge Joins Sucden

Sucden Financial has appointed Thomas Hodge to build and run its new average pricing function within its LME business. As head of LME average price trading, Hodge will complement and extend Sucden Financial’s existing ability to facilitate LME hedging requests, providing a dedicated averaging service to allow an exact match between client risk and the […]
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JPM Launches FX Pricing Engine in Singapore

JP Morgan has become the latest FX player to establish an e-FX trading and pricing engine in Singapore as it seeks to speed up execution for clients in the region. It joins a host of trading firms and platforms to set up a presence in the city state as part of a plan announced by […]
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BIS Launches Bulletin Series: Kicks Off with FX Swaps Basis Study

The Bank for International Settlements (BIS) has launched a new series of publications that it says are short, topical notes written by staff economists providing timely insights on current events in banking, markets and the wider economy. The first, issued today, looks at dollar funding costs through the prism of the FX swaps market, specifically the […]
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Trump Sees “Horrible” Next Few Weeks

White House Watch: US President Donald Trump Tuesday night warned the nation that the virus has become a “dark, epic and incredibly horrible” challenge that threatens to kill Americans by the hundreds of thousands. Trump, saying he wants to be a “cheerleader for our country”, nevertheless drew on the most stark and galvanising language of […]
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London 4pm Fix Goes OK – But What Happened Before it?

The quarter end WM 4pm Benchmark Fix passed off without the type of incident seen at the Tokyo Fix earlier in the day, but dealers are scratching their heads about what happened in the minutes leading up to the five-minute window that spans 4pm London. The expectation was for strong US dollar demand going into […]
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Volatility Spike at the Tokyo Fix Sends Dollar Soaring…and Tumbling

Price action ramped up at this morning’s 9:55am Tokyo Fix as a surge in orders ran into thinner liquidity conditions. The volatility was exacerbated by the fact that this was not only a month end, in Japan it was the fiscal year end fix. A surge of US dollar buying saw it jump sharply, with […]
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Long Spring Journey Under Way: Virus Stays in the Lead

Test results are coming in faster and in greater numbers Monday from areas like New York where the ravaging corona virus is already killing people, and at the front lines elsewhere the governors, the county executives and mayors are increasingly facing up to the fact it’s coming for them. The day’s Corona Virus Task Force […]
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