Wells Fargo Pays Fine to Close FX Investigation

The US National Futures Association (NFA) has announced that Wells Fargo has agreed to pay $2.5 million to settle charges against it relating to an FX transaction that is still the subject of legal actions elsewhere. The bank neither admitted nor denied the charges in the Complaint, although as part of the settlement it acknowledges […]
Read More »

UBS Launches ORCA-Pro

Following on from the launch of its ORCA-Direct algo last year, UBS has introduced ORCA-Pro, a new GUI targeted at clients frequently using ORCA-Direct to execute FX. The ORCA-Direct algo tries to maximise the amount of liquidity available to users when executing FX by looking across ECNs, UBS’s principal liquidity and CME’s FX futures. The […]
Read More »

CLS Volumes Confirm July Slowdown

The average daily volume (ADV) of FX trades submitted to CLS was $1.75 trillion in July, down 7.1% from June, but up 6.8% compared to July 2018. Swaps account for $1.25 trillion of CLS’s ADV last month, down from $1.3 trillion in June, but up from $1.15 trillion in July last year. Spot FX ADV […]
Read More »

New York Fed Restructures Markets Division

As it seeks to appoint to senior roles in the division, the Federal Reserve Bank of New York has announced that it will restructure the leadership of its Markets Group to “best meet its critical responsibilities”. The previous position of executive vice president and head of the Markets Group was held by Simon Potter, who […]
Read More »

CLS Adds First Chinese Third Party Bank

China CITIC Bank International Limited (CNCBI) has become the first Chinese bank to access CLS Settlement as a third-party client, CLS says, adding that this addition adds to a broader growth in third-party participation throughout the region, which has seena 21% increase in the overall number of third parties (regional/third-party banks, funds, corporates and non-bank […]
Read More »

CLS Launches Same Day Settlement Service

CLS has unveiled CLSNow, a same day settlement service that was first mooted in September 2017. The bilateral, same-day FX gross payment-versus-payment (PvP) settlement service has been launched with JP Morgan and Goldman Sachs as the first banks to go live. The firm says CLSNow enables banks to exchange currency positions with mitigated settlement risk […]
Read More »

Polish Brokerage Selects TradAir

Alior Brokerage House, the FX brokerage trading arm of Poland’s Alior Bank, has selected TradAir as a technology provider for currency trading. Grzegorz Femiak, trading platform expert at Alior Bank, says: “We were looking for an additional solution for our e-FX service which would provide an improved execution at a friendliest cost. With direct market […]
Read More »

WeMatch Adds Euro IRS

WeMatch, a web-based thus far focused on equity markets and OTC-cleared derivatives, has added euro interest rate swaps to its suite of products and says 10 banks are using the service. The dealer-to-dealer platform offers, the firm says, human traders tools and workflow to match and negotiate trades and now supports euro IRS curves, butterflies, […]
Read More »

Hall New Global Head of Macro Trading at StanChart

Standard Chartered Bank has unveiled Tony Hall as its new global head of macro trading, financial markets. Based in Singapore, he will report to Roberto Hoornweg, global head, financial markets. Hall brings to StanChart close to 25 years of global experience in the currency markets, including more than 18 years in Singapore, where he was […]
Read More »

Hermes Looks to Northern Trust for FX Services

Northern Trust has announced it has been appointed by Hermes Investment Management to provide currency management services for its Irish fund range. The bank’s service comprises portfolio overlay, share class hedging and ‘look through’ hedging solutions to help asset managers and asset owners manage and mitigate currency volatility, while actively supporting distribution strategies. It adds […]
Read More »
1 2 3 4 5 77 78 79 80 81