Symphony Partners with Tencent to Connect to WeChat

The Symphony network has announced a partnership with Tencent to connect Symphony’s community of 450,000 global markets professionals with the Weixin platform (known as WeChat outside mainland China). The firm says the integration is the first of its kind and enables two major global communities to connect and conduct business. The initiative has been backed […]
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BIS: OTC Derivatives Volumes at Five Year High

The latest Bank for International Settlements’ (BIS) latest semi-annual release of OTC derivatives statistics shows that notional volumes rose to $640 trillion at the end of June 2019, the highest level since 2014 and up from $544 trillion at the end of 2018. The BIS says part of the increase reflects a seasonal pattern evident […]
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GFI Re-Opens Tokyo Office with G10 FX Swaps Desk

BGC Group’s GFI has re-established a presence in Japan with the opening of a new office by GFI Group (Japan). The business is being spearheaded by the establishment of a G10 forward FX desk focusing on Yen as well EUR, GBP, CHF, AUD, NZD, CAD and other forwards to service its Japanese and international clients. […]
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EBS Claims African NDF First

CME Group’s EBS says it has conducted the first ever African NDF trade on a central limit order book (CLOB) trading platform with a one-month dollar-Kenyan shilling NDF executed on EBS Market between Bank of America and Citi. The firm says it has also added one-month pairs for the dollar against the Nigerian naira, the […]
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Mark Johnson Files for Re-Hearing of Appeal

Mark Johnson’s legal team has filed a petition to have his appeal reheard or reheard “en banc”, before the entire bench of active appeal circuit judges, as he seeks to have his conviction for wire fraud overturned. In September Johnson lost an appeal in front of three appeal court judges, however his team has filed […]
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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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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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Aggregation Putting ECNs on the Spot: Greenwich Survey

A new report from Greenwich Associates says that FX market participants are spurning anonymous trading on ECNs in favour of disclosed, bilateral trades executed through a variety of channels – as well as a growing share of business done through so-called “API aggregators” that could eventually emerge as a challenger to the market’s biggest execution […]
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