And Another Thing…

Back in the day there were certain “clients” who would flat-out lie to their LPs about their trade being “full amount”. Nowadays, thanks to better data and analytics this type of behaviour can be spotted fairly easily and this has meant that now clients are quite open about the “full amount” not actually being “full […]
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CLS Volumes Reflect April Slowdown

The average daily volume (ADV) of FX trades submitted to CLS in April was $1.63 trillion, down 12.5% from the $1.86 trillion reported in March 2019. This is consistent with previous reports from Profit & Loss showing that the multibank FX trading venues which publicly release their volumes all saw double digit decreases in percentage […]
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SocGen Unveils New FIC Management

Weeks after revealing plans to cut 1,600 jobs, largely in its corporate and investment bank, and days after revealing a 26% drop in first quarter revenues, Societe Generale has named a new head of fixed income and currencies. Sylvain Cartier has been named as head of FIC, he will be based in Paris and will […]
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Barclays Migrates Equities to BARX

Barclays has added equities to BARX and announced that it will now function as the bank’s cross-asset electronic trading platform. Prior to this, clients could trade FX, fixed income and futures on the BARX platform. “We are excited to announce that BARX will be our newly integrated, cross-asset electronic trading platform that will continually innovate […]
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BNY Mellon Adds Margin Calculation Tools

BNY Mellon has incorporated AcadiaSoft’s initial margin (IM) risk suite of tools for margin calculation, reconciliation and messaging into its collateral service offering. In conjunction with BNY Mellon’s existing bilateral margin capabilities from post-trade and settlement through to collateral segregation and ongoing position monitoring, the aim of this is to enable buy side clients trading […]
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Traiana Offers FXPBs Additional Risk Control

Traiana has made changes to its Credit Risk Hub that will enable FX prime brokers (FXPBs) to define trade information in more detail in order to increase credit risk controls and reduce the risks of credit over-allocation. Traiana’s Credit Risk Hub comprises two services; Designation Notice Manager (DNM), which helps FXPBs establish, monitor, amend and […]
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BidFX Adds Standard Chartered Algos

BidFX has added Standard Chartered Bank’s (SCB) full algo suite to its platform. John McGrath, chief revenue officer at BidFX, comments: “SCB are a leading liquidity provider on the BidFX platform and the expansion to add their algo suite has been very well received by the institutional buy side currently using BidFX. The evolution within […]
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Societe Generale Issues €100m Bond on Ethereum

Societe Generale has revealed that on April 18 its subsidiary, Societe Generale SFH, issued €100 million of covered bonds as a security token (OFH), directly registered on the Ethereum blockchain. The OFH tokens have been rated Aaa / AAA by Moody’s and Fitch and have been fully subscribed by Societe Generale. This operation is the […]
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In the FICC of It Special

Ahead of the unveiling of the 2019 Digital FX Awards for bank single dealer platforms tonight, Colin Lambert, managing editor of Profit & Loss, sat down with John Ashworth, CEO of Caplin Systems, for a special In the FICC of It podcast, sponsored by Caplin Systems. In this special our two podcasters looks at the […]
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Two Leave Citi in Asia?

Profit & Loss understands that Citi has seen the exit of two of its macro sales team. Huihui Hu is understood to have left her role in macro sales at the bank in Singapore. Sources say Hu is joining Royal Bank of Canada  in Hong Kong in a senior sales role, although this could not be […]
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