Banks Fail to Have Manipulation Hearing Thrown Out

A class action brought against 16 banks and their affiliates for alleged manipulation of FX markets will be allowed to go ahead after a New York judge largely ruled in the plaintiffs’ favour by throwing out a motion to dismiss brought by the defendants. The banks did, however, have the appeal to have the motion […]
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Northern Trust, BlackRock Enter Alliance

Northern Trust today announces a strategic alliance with BlackRock to deliver enhanced operations, data and servicing capabilities to mutual clients through Aladdin, BlackRock’s investment management and operations platform. The bank says the alliance will provide clients with increased efficiency, interoperability and transparency across the back, middle and front office. The relationship with BlackRock currently supports […]
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RBC Launches FX Trade Recommendations Service

RBC says it has executed its first FX trades with clients via AMOS, a new daily FX trade recommendation service aimed at hedge funds and real money clients who have an active FX mandate. Subscribed clients receive daily FX trade recommendations ahead of execution, replicating the performance of RBC’s FX positioning based trading strategy dollar […]
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BIS Opens Americas Dealing Room

The Bank for International Settlements (BIS) has opened a new dealing room at its Representative Office for the Americas in Mexico City. The new facility complements the existing BIS trading rooms in Basel and Hong Kong SAR, allowing the BIS to offer 24-hour services to its central bank customers. Jaime Cortina, who joined BIS last […]
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BNYM IM Launches Investor Services Business

BNY Mellon Investment Management has launched BNY Mellon Investor Solutions, an SEC-registered investment adviser that offers portfolio management and investment advisory services for investors worldwide seeking outsourced investment management. The new business will offer asset allocation and portfolio construction advice, manager research and selection, investment analytics, customised investment strategies and access to trust and custody […]
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SocGen Joins FXSpotStream

Societe Generale has become the 15th liquidity provider to join FX SpotStream – it joins just months after Barclays was unveiled as LP number 14. “After announcing the addition of Barclays last quarter, we continue the momentum and are pleased to welcome Societe Generale as the 15th liquidity provider on our Service – we expect […]
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State Street Collaborates for Hedge Fund Outsourcing Service

State Street Corporation has entered into an alliance with Coremont to provide fully integrated outsourcing services for hedge fund managers, covering front, middle and back office operations. The alliance combines Coremont’s portfolio management analytics and support with State Street’s asset servicing and administration capabilities to power the entire investment lifecycle from trading to risk management […]
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The 2020 Profit & Loss Digital FX Awards

It is not over-stating the case to say that the process for this year’s Profit & Loss Digital FX Awards was unlike any other. For those of you who are unaware of how it works, the culmination of a year’s worth of feedback is a visit by Profit & Loss to the leading e-FX banks […]
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Best FX Platform

P&L Report Card It may be a surprise to some that we do not view this as the most competitive category in these awards, and that is thanks to the sheer scale of two platforms in particular, Citi’s Velocity and JP Morgan’s eXecute. That is not to say that other excellent platforms do not exist, […]
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Best Execution

P&L Report Card If the Best FX Platform Award was not the most competitive in the 2020 Digital FX Awards, it is because competition in the execution space has become white hot. While some players may not have the time and perhaps the resources to develop their single dealer platforms fully, they have most certainly […]
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