BoE Questions Decision to Drop Spot FX Market Abuse Regime

As part of its response to the findings of an internal investigation conducted after it was revealed that audio recordings of its press conferences were being sold to market participants, the Bank of England has flagged revisiting a previously ignored recommendation of the UK’s Fair and Effective Markets Review (FEMR) to create a new statutory civil […]
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Mobile Trading: Coming of Age

The growth path of mobile trading has been anything but meteoric, but a combination of greater awareness and necessity is finally bringing the channel towards the mainstream. In this supported article, Colin Lambert takes a look at the issues and talks to first mover JP Morgan about the evolution of mobile trading. A knee-jerk reaction […]
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BNY Mellon Names Vince CEO of Global Market Infrastructure

Bank of New York Mellon (BNYM) has appointed Robin Vince as vice chair of the bank and CEO of its Global Market Infrastructure group. Effective, 1 October, Vince joins from Goldman Sachs where he was chief risk officer and a member of the bank’s management committee – he will report to Todd Gibbons, CEO of […]
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Gill Exits Barclays?

Market sources tell Profit & Loss that Singapore-based Pritpal Gill, head of FX cash and options trading for Barclays in Asia-Pacific, has left the bank. Gill joined Barclays at the start of 2019 as part of a build out of the bank’s FX business, following the hire of Fabio Mudar as global head of FX […]
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Goldman Sachs Launches FX Swaps Axe UI

Goldman Sachs has launched a new Axe UI on its Marquee single dealer platform that allows clients to access dynamic axes streamed by the bank in FX swaps. With the launch, the bank is aiming to disrupt the traditional voice driven delivery of axes and create a more efficient trading infrastructure for FX swaps. The […]
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In the FICC of It

The podcast has a nice positive vibe to it this week as Colin Lambert is joined by Ayesa Latif, head of EMEA e-commerce FX sales at Citi to discuss the eighth annual “e-for-education” campaign by the bank, which kicks off this week. Latif explains how the campaign works, what channels are likely to generate the […]
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HSBC Launches NDFlex Algos

HSBC’s FX Alternative Execution Services has launched a new NDF algo offering called NDFlex – initially available in five currency pairs using a number of strategies. The new algo suite is offered in the dollar against IDR, INR, KRW, PHP and TWD, and Implementation Shortfall, Liquidity Seeking, TWAP, VWAP, Get Done and Liquidity Plus strategies […]
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CFTC Clobbers Bank of Nova Scotia with $127 Million Spoofing Fine

The US Commodity Futures Trading Commission has issued three Orders filing and settling charges against Bank of Nova Scotia for spoofing in precious metals futures, making false statements to US regulators and  for compliance and oversight failures. The bank has been fined a total of $127.4 million. The first two orders require Scotia to pay […]
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Goldman Live on ForexClear

Goldman Sachs has become the latest bank to go live on LCH’s ForexClear service, offering clearing services to its clients under the ForexClear FCM (futures commission merchant) and international clearing broker model. Goldman clients can access the FX derivatives clearing service in NDFs, the clearinghouse also offers dealer-to-dealer clearing services for deliverable FX options, spot […]
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Barclays Launches NDF Algos

Barclays has become the latest bank to extend its FX algo execution product site to NDFs, adding one-month NDFs across multiple algorithms to Gator, its liquidity aggregation and algo platform. The algos are available in seven Asian currency pairs, USDCNY, USDIDR, USDINR, USDKRW, USDMYR, USDPHP, USDTWD and the bank says the launch is in response […]
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