FSB Reports Further “Limited” Progress on Reform

The Financial Stability Board (FSB) has published its annual progress report on the implementation of the agreed G20 reforms to over-the-counter (OTC) derivatives markets. Overall it notes there has been “limited additional implementation of the reforms” since its last report this time last year but does note that 23 out of 24 member jurisdictions have comprehensive […]
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CLS Reports FX Volume Increase

CLS says the average daily traded volume submitted to the settlement service was $1.84 trillion in September, a 5.3% month-on-month increase and a 6.5% year-on-year increase. FX swaps remains the largest portion of this amount at $1.34 trillion per day, a 12 % increase on both a monthly and annual basis. Activity in spot products […]
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FMSB Publishes Conflict of Interest Statement

The FICC Markets Standards Board (FMSB) has published the final version of a Statement of Good Practice on the issue of conflicts of interest. The Board says the Statement aims to provide practical, working level guidance and examples for market participants to draw on, as they consider ways to prevent, manage and mitigate conflicts of […]
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CFH Clearing Adds Acuity Service

Prime-of-prime brokerage CFH Clearing has added news sentiment data tools and an enhanced multi-asset newsfeed to its platforms, delivered through news technology company, Acuity. The news and data, provided by Acuity in partnership with Dow Jones, covers up to 2,500 markets including currencies, indices, commodities and stocks. The service uses machine learning technology to reveal […]
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FCA Fines Tullett Prebon for “Ineffective Control” of Brokers

The UK’s Financial Conduct Authority (FCA) has fined Tullett Prebon, now part of TP Icap, GBP 15.4 million for “failing to conduct its business with due skill, care and diligence, failing to have adequate risk management systems and for failing to be open and cooperative with the FCA”. In spite of the latter statement, because […]
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FSB Reports to G20…and it’s a Familiar Message

The Financial Stability Board (FSB) has published a letter from its chair Randal Quarles to G20 finance ministers and central bank governors ahead of their meetings in Washington this week and the message from the letter is largely the same as it has been for some time – work is progressing but more needs to be […]
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US Authorities Issue Digital Assets Reminder

The leaders of the US Commodity Futures Trading Commission (CFTC), the Financial Crimes Enforcement Network (Fincen), and the Securities and Exchange Commission (SEC) have issued a joint statement to remind persons engaged in activities involving digital assets of their anti-money laundering and countering the financing of terrorism (AML/CFT) obligations under the Bank Secrecy Act (BSA). AML/CFT obligations apply to […]
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FX: A Trading or Data Business?

At the recent Forex Network Chicago conference David Mercer, CEO of LMAX Exchange Group, was interviewed by Colin Lambert about the foreign exchange and crypto market landscapes. This is an edited and abridged version of that discussion. Colin Lambert: There is a view out there that FX is no longer a trading business, how do […]
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Boardman Joins RBC

Richard Boardman has joined RBC in London as a managing director, head of financial institutions. He will report to Jason Goss, co-head of European FICC sales. In this new role, Boardman will focus on broadening RBC’s financial institution sector presence from a solutions perspective, initially, with a heavy focus on the insurance client segment, the […]
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B2C2 Launches Gold-Bitcoin Cross

Cryptocurrency liquidity provider B2C2 has launched the market’s first product for trading gold directly against Bitcoin (XAU/BTC). The firm says the launch marks the beginning of its expansion beyond the core crypto focus and that client demand made XAU/BTC a natural first choice, underpinned by a significant rally in so-called deflationary assets over the past […]
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